Penfed Platinum Rewards Visa Signature Card Review With Pro And Cons – 18 Points

1. Very high reward rate on gas and groceries but no cash back redemption.

Pros:



Cons:



No annual fee

Membership required

Bonus cash back categories

No cash redemption

No foreign transaction fee

Points are worth less than a penny each.

Intro Balance transfer apr

 

No blackout dates

 

Redeem points for travel, merchandise or gift cards

 

No limits on points you can earn

 

2. Reward Rate:

5 points to equal 4.25% back on gas
3 points to equal 2.55% back at supermarkets
1 point to equal 0.85% on everything else

3. Intro Apr:

0% intro apr on balance transfer for 12 months.

4. Sign-Up Bonus:

$100 statement credit if you spend $1,500 in the first 90 days

5. Regular APR:

11.99% – 17.99% (V)

6. Balance Transfer Fee:

3%

7. Max Late Fee:

$25

8. Max Penalty Apr:

17.99%

9. Grace Period:

25 days

10. Foreign Transaction Fee:

None

11. Annual Fee:

$0

12. Customer Experience:

24/7 customer service?:
No
Online chat available?:
No
Google Play Store mobile app rating:
4.4/5
Apple Store mobile app rating:
4.2/5

13. Other Features:

Auto Rental Collision Damage Waiver
Emergency Support
Extended Warranty Protection
Fraud Liability
Travel Accident Insurance
Travel Assistance
ID Theft Protection
Reports to major credit bureaus

14. Why you should choose penfed platinum rewards visa signature card:
If You spend lot of on gas and groceries and want to earn maximum rewards.
If you want no annual fee reward card for everyday use.
If you want low fee and low apr card.
If you don’t mind to pay $15 to $25 booking fee.

15. Smart Chip:

Yes

16. Credit Needed:

Good to Excellent 690 – 850

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