With the PenFed Platinum Cash Rewards Standard Card, you will be eligible to earn 3% cash back on your gas charges. If this high cash back offer appeals to you, please continue to read for more information.
Editor’s Note: Interested in more of what PenFed has to offer? See our list of the Best PenFed Credit Card Promotions!
![]() The Chase Freedom FlexSM offers a $150 bonus after you spend $500 on purchases in your first 3 months from account opening. 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 19.24% - 27.99%. You'll earn: • Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter! • 5% cash back on travel purchased through Chase Travel℠, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more • 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service • Unlimited 1% cash back on all other purchases You cash back rewards do not expire as long as your account is open and there is no minimum to redeem for cash back. This card has no annual fee. |
PenFed Platinum Cash Rewards Standard Card Features
- Earn a standard rate of 3% cash back on gas
- Annual fee is waived first year $0 then $25 thereafter
- Can be qualified to earn 5% on gas by obtaining a qualifying PenFed product
- No foreign transaction fees
- Cash rewards automatically awarded to your account every month
- No caps, limits or tiers on rewards
- Automobile rental insurance
- $100,000 travel accident insurance
Apply Here
PenFed Platinum Cash Rewards Standard Card: If you like the features this card has to offer, then click this link to learn more and apply.
Bonus Requirements
With this offer, you will earn a standard 3% cash back on your gas purchases.
You do have the option to earn 5% on gas avoid an annual fee by obtaining a qualifying PenFed product:
- Active checking account with direct deposit ($250 min.)
- Money Market Certificate or IRA Certificate
- Mortgage
- Installment loan
- Equity Loan or Equity Line of Credit
- Thrifty Credit Service
- Personal Line of Credit
- Money Market Savings Account
Accounts earning 3% on gas will be evaluated on a monthly basis to determine if the member has a qualifying product. Accounts with qualifying products will be upgraded so that the member will earn 5%.
Author’s Verdict
The PenFed Platinum Cash Rewards Plus Visa Card offers quite a high earning potential in the gas category which is extremely beneficial for those who are always on-the-go with a standard rate of 3% then 5% if you qualify for any PenFed products.
Unfortunately, due to this particular offer, you do not have the option to have earn 1% cash back on all other purchases non-related to gas stations. This might be seen as much, but if you think about it, being able to earn a percentage is still something compared to nothing at all.
To be considered for this card, you must be a member of the Pentagon Federal Credit Union. You’re automatically considered if you are or were in the military or a family member of one. Also welcome are employees of military bases or government agencies, especially the Department of Homeland Security.
If none of the above applies to you, you can still apply for a membership by making a one time donation to one of their partner organizations. This may seem like a bit of a hassle, but being able to earn up to 5% back on gas should make up for it over time. Or as a last option, you could also join by volunteering with a partner organization such as the Red Cross. With this one, it’s free and you’ll be participating in a good cause for the community.
Provide feedback in the comment section below by telling us your thoughts and experience with this card. Make sure to visit BankDealGuy to explore the Best Credit Cards for Gas Purchases.
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