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  PenFed Platinum Rewards Visa Signature® Card

PenFed Platinum Rewards Visa Signature® Card

in Personal Credit Cards from PenFed Credit Union

Unaffiliated

PenFed Platinum Rewards Visa Signature® Card

Unaffiliated

in Personal Credit Cards from PenFed Credit Union

Net Recommendation Score -100%

SUPERMONEY NET RECOMMENDATION SCORE

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Community Rating

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Purchase APR  (Variable APR) 13.49% - 17.99%
Balance Transfer APR  (Variable APR) 17.99%
Credit Score Range 700 - 850
Annual Fee $0

PenFed Platinum Rewards Visa Signature® Card Review

PenFed Platinum Rewards Visa Signature® Card 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 is everything you need to know to make a good choice.

Key takeaways:

  • Generous reward rate. You will get a a rewards rate of 5 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 up to 3% on balance transfers. For example, a balance of $1,000 could cost up to $30 in transfer fees.
  • $0 foreign transaction fee. This card does not charge foreign transaction fees, which makes a great credit card to carry with you when traveling abroad.
  • Gas rewards.
  • Multiple credit card benefits. Includes generous credit card perks, such as rental insurance, emergency support, extended warranty protection on purchases, purchase protection, travel accident insurance, travel assistance, and fraud protection.
  • Good or better credit required. You should probably try with another card if your credit score is below 700.

PenFed Platinum Rewards Visa Signature® Card Pros and Cons:

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.
  • Travel accident and travel assistance insurance.
  • No foreign transaction fee.
  • Cardholders can earn rewards on every purchase.
  • Earn rewards on every purchase.
  • PenFed Platinum Rewards Visa Signature® Card reports to multiple credit bureaus.
  • Cardholders can earn rewards on their purchases.
  • Requires good to excellent credit.
  • Charges a 3% balance transfer fee.

Is there a PenFed Platinum Rewards Visa Signature® Card cash back or rewards program?

PenFed Platinum Rewards Visa Signature® Card offers a rewards program to its customers.

PenFed Platinum Rewards Visa Signature® Card Rewards
Rewards rate (all purchases) 1%
Max rewards rate 5%
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, PenFed Platinum Rewards Visa Signature® Card 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?

PenFed Platinum Rewards Visa Signature® Card doesn't offer a cash loyalty bonus.

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

PenFed Platinum Rewards Visa Signature® Card provides the following benefits:

  • Auto Rental Collision Damage Waiver
  • Emergency Support
  • Extended Warranty Protection
  • Zero fraud liability
  • Travel Accident Insurance
  • Travel Assistance
  • ID Theft Protection
  • 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 interest rate is 15% for all credit cards and 17% for accounts that carry a balance. PenFed Platinum Rewards Visa Signature® Card has lower than average purchase 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 introductory APR offer on balance transfers?

Yes, PenFed Platinum Rewards Visa Signature® Card offers an introductory 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 APR 17.99%
Balance Transfer Introductory APR 0%
Balance Transfer Intro APR Period (months) 12
Balance Transfer Fee % 3%
Balance Transfer Fee % After Intro Period N/A
Balance Transfer Fee Intro Period (days) N/A
Balance Transfer Fee Minimum N/A

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

PenFed Platinum Rewards Visa Signature® Card does not offer an introductory rate on new purchases.
PenFed Platinum Rewards Visa Signature® Card Purchase Intro Offer
Description
Introductory Rate N/A
Purchase Intro APR Period (months) N/A

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

The following fees apply to PenFed Platinum Rewards Visa Signature® Card:

  • 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

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

PenFed Platinum Rewards Visa Signature® Card does not charge foreign transaction fees. If you are a frequent traveler, this can save you hundreds of dollars in credit card fees when you travel out of the country.

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

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 can help improve your credit score.

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 you're denied click here to find out why your application may have been rejected and what you can do about it.

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...

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

Gas (Points) 5
Every Purchase (Points) 1x Points on all other purchases
Cash Advance Fee Minimum $0
Minimum Cash Advance Fee ($) $0
Foreign Currency Transaction Fee 0%
No Annual Fee  
No Foreign Transaction Fee  
Annual Fee $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 700 - 850
Card Type
  • Balance Transfer
  • Bonus Offers
  • Gas
  • Rewards
Card Network Visa
Credit Bureau Reporting
  • Equifax
  • Experian
  • TransUnion
Emergency Support  
Travel Insurance  
Fraud Liability  
Extended Warranty  
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 Rates
  • Every Purchase
  • Gas
  • Groceries
Signup Bonus $100
Rewards Type Points
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%

PenFed Platinum Rewards Visa Signature® Card Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

-100%

-100% 0% +100%
No one recommends Everyone recommends

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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