Last updated: 5/10/2021

PenFed Platinum Rewards

Earns: PenFed Points

GigaTake:

A good no-annual fee card with nice bonuses for gas and groceries. The 5x points for gas is one of the best around.

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Here’s how much you would earn with this card

(Based on spending from {{earliestTransactionDate | date}} through {{latestTransactionDate | date}})

You could earn Worth Plus Welcome Bonus Total
{{totalPointsYouCouldEarn | number}} PenFed Points
per year
${{totalPointsYouCouldEarnValue | number}} {{welcomeBonus | number}} points
worth ${{welcomeBonusValue | number}}
${{totalValueToUser | number}}

How’d we figure that out?

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${{annualFeeAmount | number}}Annual Fee

${{basePointsAmount | number}} All Other ({{card.card.earning_rate}}%x) All Spending ({{card.card.earning_rate}}%x)

${{merchantBonusAmount | number}}{{ merchantsBonusLabels | commaSeparate }} ({{merchantsBonusAmounts[0].multiplier}}%x)

${{categoryBonusAmount.bonus | number}}{{categoryBonusAmount.category }} ({{categoryBonusAmount.multiplier}}%x)

${{categoryDiscount.discount | number}}{{categoryDiscount.category}} Credit

${{merchantCreditAmount | number}}Merchant Discounts

${{welcomeBonusAmount | number}}Welcome Bonus


Annual Fee${{annualFeeAmount | number}}

All Other ({{card.card.earning_rate}}%x) All Spending ({{card.card.earning_rate}}%x) ${{basePointsAmount | number}}

Merchant Bonus ({{merchantsBonusAmounts[0].multiplier}}%x)${{merchantBonusAmount | number}}

{{categoryBonusAmount.category }} ({{categoryBonusAmount.multiplier}}%x)${{categoryBonusAmount.bonus | number}}

Welcome Bonus${{welcomeBonusAmount | number}}

See how the PenFed Platinum Rewards compares to other credit cards

PenFed Platinum Rewards Other Cards


Hover the dots to view other Credit Cards

Reward Rate = 5x

Value = 1 cent per point
Effective Value = 5 %

0%
6%

Reward Rate = 3x

Value = 1 cent per point
Effective Value = 3 %

0%
7%

Reward Rate = 1x

Value = 1 cent per point
Effective Value = 1 %

0%
3%

Welcome Bonus = 10,000

Value = 1 cent per point
Effective Value = $100

$0
$1800

Annual Fee = $0

$0
$995
Welcome Bonus
10,000

OK

Bonus Rating

Points

After you spend $1,500 in 3 months

GigaInfo about Welcome Bonuses Welcome Bonuses 101 Article
Spending Rewards
5x Gas

Excellent

excellent

Excellent

In the top 15% of cards.

3x Groceries

Excellent

excellent

Excellent

In the top 15% of cards.

1x All Other

OK

OK

Is this card right for me?

That depends on your individual spending patterns. We have a tool that figures it out for you. Learn what you could earn.

Program Name
PenFed Points
Gigapoints Value
1¢ per point
0.4¢ PER POINT
2¢+ PER POINT
Annual Fee
  • $0
Use this card for…

You can earn more rewards by using different cards for different purchases. We built a tool that tells you which card to use, when. Just plug in your favorite brand, store, or category to find out which card pays the most.

Use the Best Card For tool Go

The Fine Print

PURCHASES APR Prime plus 10.24% – 14.74%
BALANCE TRANSFER APR 17.99%
BALANCE TRANSFER FEE 3% per transaction
CASH ADVANCE APR 17.99%
CASH ADVANCE FEE $0
LATE PAYMENTS Up to $28.
FOREIGN TRANSACTION FEE 0%