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  PenFed Platinum Rewards Visa Signature® Card
PenFed Platinum Rewards Visa Signature® Card Claimed

PenFed Platinum Rewards Visa Signature® Card

Claimed
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.

Rating not yet determined  

0 users recommend
0 users are unsure
1 user doesn't recommend
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Highlights
Community Rating

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

PenFed Platinum Rewards Visa Signature® Card Review

This is a 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 5x.
  • 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 15000 points after spending $1,500 within 3 months that can be redeemed for travel, gifts, or other perks.
  • 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 card. It gives you the benefits of a credit card, 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.
  • Multiple credit card benefits. Includes generous credit card perks, such as and fraud protection.
  • Fair or better credit required. You will have good approval odds if your credit score is above 650.
Pros & Cons of PenFed Platinum Rewards Visa Signature® Card
The Good The Bad
  • Potentially 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.
  • No foreign transaction fee.
  • PenFed Platinum Rewards Visa Signature® Card reports to multiple credit bureaus.
  • Does not offer rewards or cash back.
  • You don't earn rewards on every purchase.
  • 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?

No, it does not offer a rewards program.

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

It provides the following benefits:

  • 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. This card has lower than average regular APRs.

PenFed Platinum Rewards Visa Signature® Card 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 up to $28

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

What is the PenFed Platinum Rewards Visa Signature® Card login page?

You can access the PenFed Platinum Rewards Visa Signature® Card login page here.

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

We currently don't have sufficient reviews to provide a reliable SuperMoney community rating for this product.

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:

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

Feature Breakdown

Cash Advance Fee Minimum $0
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 Up to $28
Minimum Age 18
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Employment Statuses Considered
  • Other
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Credit Score Range 650 - 850
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Credit Card Benefits
  • Identity Theft Protection
  • Purchase Protection
  • Emergency Support
  • Fraud Liability
  • Travel Accident Insurance
  • Travel Assistance
  • Concierge
Bonus Offer 15,000 Bonus Points when you spend $1,500 in first 90 days.
Rewards Categories
  • 3x Points on
  • 5x Points on
  • 3x Points on
  • 3x Points on
  • 1x Point on
Signup Bonus (points) 15,000
Cash Advance APR 17.99%
Balance Computation Average daily balance (including new purchases)
Penalty APR 17.99%
Purchase APR 13.49% - 17.99%
Balance Transfer Introductory APR 0%
Balance Transfer Intro APR Period 12 months
Balance Transfer APR 17.99%
Balance Transfer Fee % 3%
Card Type
  • Rewards
  • Balance Transfer
  • Gas
  • Bonus Offers
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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