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  PenFed Platinum Rewards Visa Signature® Card

PenFed Platinum Rewards Visa Signature® Card

in Personal Credit Cards from PenFed Credit Union

Claimed

PenFed Platinum Rewards Visa Signature® Card

Claimed

in Personal Credit Cards from PenFed Credit Union

Net Recommendation Score -100

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly not recommended by SuperMoney users with a score of -100, equating to 1 on a 5 point rating scale.

-100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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Highlights
Community Rating

Rating not yet determined  

Purchase APR  (Variable APR) 13.49% - 17.99%
Balance Transfer APR  (Variable APR) 17.99%
Credit Score Range 650 - 850
Annual Fee $0

PenFed Platinum Rewards Visa Signature® Card Review

This is a rewards credit card issued by PenFed Credit Union. If you're wondering whether PenFed Platinum Rewards Visa Signature® Card is the right card for you, read on. This review will provide you with with all the details you need to make a good choice.

Key Takeaways
  • Generous reward rate. You will get a rewards rate of up to 5 reward points per dollar spent.
  • 0% APR balance transfer intro rate. Offers an introductory 0% APR rate on balance transfers for up to 12 months, which is the average period for 0% APR balance transfer cards.
  • Signup bonus. Offers a signup bonus of $100 if you spend $1500 within 3 months.
  • Competitive APRs. PenFed Platinum Rewards Visa Signature® Card has a variable purchase APR that ranges from 13.49% up to 17.99%.
  • No annual fee*. This is a great option for people looking for a low-maintenance rewards card. It gives you rewards on your purchases, but you don't have to pay an annual fee for the privilege.
  • 3% Balance transfer fee. PenFed Platinum Rewards Visa Signature® Card charges a fee of 3% on balance transfers. For example, a balance of $1,000 could cost $30 in transfer fees.
  • No foreign transaction fee. This card does not charge a fee when you make a purchase that passes through a foreign bank, or is in a currency other than the U.S. dollar (USD), which makes it a great credit card to carry when traveling abroad.
  • Gas rewards. on eligible gas purchases.
  • Multiple credit card benefits. Includes generous credit card perks, such as rental insurance, emergency support, extended warranty protection on purchases, identity theft protection, purchase protection, travel accident insurance, travel assistance, and fraud protection.
  • Fair or better credit required. You will have good approval oods if your credit score is above650.
Pros & Cons of PenFed Platinum Rewards Visa Signature® Card
The Good The Bad
  • Lower than average purchase APRs.
  • 0% APR balance transfer intro rate on balance transfers for up to 12 months.
  • No annual fee.
  • Multiple credit card perks.
  • Offers auto rental collision damage waiver.
  • Extended warranty on purchases.
  • Identity Theft Protection.
  • Travel accident and travel assistance insurance.
  • No foreign transaction fee.
  • Cardholders can earn rewards on their purchases.
  • PenFed Platinum Rewards Visa Signature® Card reports to multiple credit bureaus.
  • Charges a 3% balance transfer fee.
PenFed Platinum Rewards Visa Signature® Card FAQ

Does PenFed Platinum Rewards Visa Signature® Card have a cash back or rewards program?

PenFed Platinum Rewards Visa Signature® Card is a rewards card.

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PenFed Platinum Rewards Visa Signature® Card Rewards
Minimum rewards rate 1x
Max rewards rate 5x
Annual rewards limit N/A
Signup Bonus ($) $100
Signup Bonus Spend Requirement $1500
Signup Bonus Spend Period (months) 3 months

Does PenFed Platinum Rewards Visa Signature® Card have a signup bonus?

Yes, it offers card users a signup bonus worth up to $100 after spending $1500.

Does PenFed Platinum Rewards Visa Signature® Card offer an annual loyalty bonus?

This card doesn't offer a cash loyalty bonus.

What are the PenFed Platinum Rewards Visa Signature® Card benefits?

It provides the following benefits:

  • Auto Rental Collision Damage Waiver
  • Emergency Support
  • Extended Warranty Protection
  • Zero fraud liability
  • Travel Accident Insurance
  • Travel Assistance
  • Reports to major credit bureaus

What are the relevant APRs for PenFed Platinum Rewards Visa Signature® Card?

According to the Federal Reserve Board, the average regular APR is 15% for all credit cards and 17% for accounts that carry a balance. It has lower than average regular APRs.

It has a variable purchase APR that ranges from 13.49% up to 17.99%. The card has a variable balance transfer APR of 17.99% . It also has a variable cash advance APR of 17.99% . Note that late payments are subject to an APR of 17.99% if you are late or miss your payments. Typically, the penalty APR applies for a minimum of six months but can go on indefinitely.

Does PenFed Platinum Rewards Visa Signature® Card have an intro APR offer on balance transfers?

Yes, it offers an intro APR rate on balance transfers of 0% for a period of up to 12 months.

PenFed Platinum Rewards Visa Signature® Card Balance Transfers
Description
Balance Transfer Introductory APR 0%
Balance Transfer Intro APR Period 12 months
Balance Transfer APR 17.99%
Balance Transfer Fee % 3%

Does PenFed Platinum Rewards Visa Signature® Card have an intro APR offer on new purchases?

This card does not offer an intro APR rate on new purchases.

What are the fees for PenFed Platinum Rewards Visa Signature® Card?

The following fees apply:

  • There is no overlimit fee
PenFed Platinum Rewards Visa Signature® Card Fees
Fees Amount
Annual Fee $0
Overlimit Fee $0
Foreign Transaction Fee 0%
Returned Payment Fee up to $25
Late Payment Fee $20 - $28

This card does not charge an annual fee, which makes it a smart choice for consumers looking for a low-cost rewards card.

Does PenFed Platinum Rewards Visa Signature® Card have a foreign transaction fee?

This card does not charge foreign transaction fees. If you are a frequent traveler, avoiding foreign transaction fees can save you hundreds of dollars in fees when you travel out of the country.

What is the customer service phone number for PenFed Platinum Rewards Visa Signature® Card?

The PenFed Platinum Rewards Visa Signature® Card customer service number is (800) 247-5626.

What is the support contact email for PenFed Platinum Rewards Visa Signature® Card?

The support contact email for PenFed Platinum Rewards Visa Signature® Card is info@hq.penfed.org.

How do people rate the customer service and user experience of PenFed Platinum Rewards Visa Signature® Card?

Overall, PenFed Platinum Rewards Visa Signature® Card is strongly not recommended based on community reviews that rate customer service and user experience.

Does PenFed Platinum Rewards Visa Signature® Card report your account activity to credit bureaus?

Yes, PenFed Platinum Rewards Visa Signature® Card reports your account activity to the following credit reporting agencies:

  • Equifax
  • Experian
  • Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

How to apply for PenFed Platinum Rewards Visa Signature® Card

  • Visit the PenFed Platinum Rewards Visa Signature® Card website.
  • Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
  • Check the information is accurate and submit your application.

If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Cash Advance Fee Minimum $0
Cash Advance Fee (%) 0%
Minimum Cash Advance Fee ($) $0
Foreign Currency Transaction Fee 0%
No Annual Fee
No Foreign Transaction Fee
Annual Fee $0
Minimum Interest Charge $0
Over-Limit Fee $0
No Interest Grace Period for Late Payment 25 days
Returned Payment Fee Up to $25
Late Fee Amount $20 - $28
Customer Type Personal
Minimum Age 18
Supported Income Types
  • 1099 Misc. Income
  • Cash
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Credit Score Range 650 - 850
Credit Bureau Reporting
  • Equifax
  • Experian
  • TransUnion
Credit Card Benefits
  • Auto Rental Collision Damage Waiver
  • Emergency Support
  • Extended Warranty Protection
  • Fraud Liability
  • Identity Theft Protection
  • Purchase Protection
  • Travel Accident Insurance
  • Travel Assistance
Rewards Categories
  • Points on Gas
  • Points on Groceries
  • Points on Every Purchase
Signup Bonus Starting at $100
Cash Advance APR (Variable APR) 17.99%
Balance Computation average daily balance (including new purchases)
Penalty APR (Variable APR) 17.99%
Purchase APR (Variable APR) 13.49% - 17.99%
Balance Transfer Introductory APR (Variable APR) 0%
Balance Transfer Intro APR Period (Variable APR) 12 months
Balance Transfer APR (Variable APR) 17.99%
Balance Transfer Fee % 3%
Card Type
  • Balance Transfer
  • Bonus Offers
  • Gas
  • Rewards
Card Network Visa

PenFed Platinum Rewards Visa Signature® Card Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly not recommended by SuperMoney users with a score of -100, equating to 1 on a 5 point rating scale.

-100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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