PenFed Platinum Rewards Visa Signature
The PenFed Platinum Rewards Visa Signature Card is a solid choice for anyone that wants to earn an excellent return on everyday categories without worrying about the hassle of complex reward programs. It provides a solid return with no annual fee to drag down the value of PenFed Points. Pair it with the PenFed Pathfinder Rewards Card and you have yourself a well oiled PenFed Point building combo.
PenFed Points Value
PenFed Points are easily worth 1 cent each and can be used towards merchandise and services, airline travel redemption, and gift cards/certificates. There are no black out dates when it comes to redemptions. The PenFed Platinum Rewards Visa also allows the option to pay for travel with partial points. Do note that PenFed charges a $15 Air Booking Fee on all online air bookings and a $25 Air Booking Fee on phone air bookings. These high fees can take away from the value of your PenFed Points. Points expire 5 years after being awarded on a first-earned, first-spent basis. PenFed Points are non-transferable, and cannot be purchased.
The PenFed Platinum Rewards Visa Signature card features two bonus categories which are gas stations and grocery purchases. Any spending done in these categories will earn bonus PenFed Points. There is no limit on the number of PenFed Points you can earn with the PenFed Platinum Rewards Card.
5x Gas Stations
The PenFed Platinum Rewards Card earns 5 PenFed Points per $1 spent on all gas station purchases. This bonus will apply to merchants that are coded as gas stations which include places such as Exxon, BP, Speedway, and Hess. Since this card has no annual fee and PenFed points are pegged at 1 cent each, you're looking at a 5% return on all gas station purchases which amongst the highest in the credit card industry. The no annual fee PNC Cash Rewards Card comes close at 4% cash back on groceries.
Spending at grocery stores with the PenFed Platinum Rewards Card will earn you 3 PenFed Points per $1 spent. Grocery stores will have to fall under the proper merchant code in order to receive the bonus PenFed Points. This will apply to places such as Publix, Winn-Dixie, Meijer, and Von's. Earning a 3% return at grocer stores is not too bad. Other cards that earn a 3% return consist of the Everyday Preferred Card and Blue Cash Everyday (no annual fee).
Any spending on the PenFed Platinum Rewards card outside of grocery and gas station purchases will earn 1 PenFed Point per $1 spent. This equals a sad 1% return which could be slightly approved upon using the PenFed Pathfinder Rewards Card for a 1.5% return.
Perks and Benefits
Visa Signature Perks
The PenFed Platinum Rewards Visa offers extended warranty, purchase security, travel discounts and upgrades, special access to dining and entertainment event, concierge services, roadside dispatch, travel and emergency assistance services, car rental insurance and more.
Sign Up Bonus
The PenFed Platinum Rewards Visa sign up bonus is a $100 Statement Credit when you spend $1,500 in first 90 days. The PenFed Platinum Rewards Card is also known to have a 0% Intro APR bonus on balance transfers as well.
Credit Card Fees
|Authorized User Fee|
|Foreign Transaction Fee|
The annual fee for the PenFed Platinum Rewards Visa Signature Card is $0. This lets you enjoy the benefits of gaining such a high return on gas and grocery without worry about the fee taking away from the value.
Authorized User Fee
The PenFed Platinum Rewards Card does not charge a fee for adding additional users. I would definably add authorized users since the return on gas and grocery are so high.
Foreign Transaction Fee
There is no foreign transaction fee for using the PenFed Platinum Rewards Card out of country.
You can use this rewards calculator to calculate how many points, miles, or cash back you can earn based on your spend per category. This calculator will also give you the dollar value of the card based on rewards earned and how much each benefit is worth to you minus the fees. You can click the Compare A Card button to compare this card against another card in the same calculator.
All category spend entered in the primary card's column will carry over to all credit card pages on the site so you don't have to re-enter the same information over again.
PenFed Pathfinder Rewards Card
The PenFed Pathfinder Rewards Card offers a solid 3%-4% return on travel purchases and offers a slightly higher return of 1.5% on non-category purchases. When combined with the PenFed Platinum Rewards Card, you have a great PenFed Point earning pair.
PNC Cash Rewards Card
If you're looking for a great return on gas station purchases, the PNC Cash Rewards Card offers an excellent 4% return. On top of also having the categories of restaurant and grocery, it has no annual fee!
If you're looking to earn on restaurant purchases, the Capital One SavorOne and Capital One Savor cards both offer 3% and 4% when eating out. Both also feature categories of entertainment and grocery. Combine with the Quicksilver Card and you'll never earn less than 1.5% cash back on a purchase!
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About These Calculators: These calculators are provided to help you estimate the value of points, miles, and cash back you can earn with various rewards programs and using reward earning credit cards. These calculators are meant to provide an estimate of rewards earned and are not meant to reflect the exact amount of points you may receive. Be sure to read the terms and conditions of any credit card before you apply as benefit and perk changes may not be reflected immediately on this website.
The Point Calculator is owned by RF3 LLC. This site is informational and meant to provide help in calculating points with various programs. The owner of this site is not a legal or tax professional and the statements and articles on this site are opinion of the owner and should not be relied upon for individual circumstances.2019 The Point Calculator and its logo is copyrighted and owned by RF3 LLC. All Rights Reserved.