Credit Finances & Money

My favorite credit card is…

PenFed VISA Platinum Gas / Cash Rewards Card! (there’s 2 cards in that link…I’m referring to the 2nd one)

I’ll admit that it’s not the best card if you carry a balance, but since I pay off my card every month, I take advantage of the rewards and other benefits. Here’s a quick rundown, but take note that you can easily become a PenFed member, even if you’re not associated with the military. Read the next section to learn how:

  • Earn 5.00% Cash Back from Gas Purchases Paid at the Pump*
  • Earn 2.00% Cash Back on Supermarket Purchases*
  • Earn 1.00% Cash Back from All Purchases** You Make with the Card During Each Billing Cycle
  • Up to $50,000 Limit
  • 13.99% APR Lower than most rewards cards!
  • No Annual Fee
  • Cash Rewards Credited Each Month
  • No Special Restrictions to Earn Your Cash Rewards
  • Limited Time Only Low Balance Transfer Rates†
  • You must be a Pentagon Federal Credit Union member to apply. Not a member? It’s easy to join. You must be a United States Government employee, member of the United States Military and Uniformed Services, employee or volunteer of the American Red Cross, member of the National Military Family Association, or a family member/housemate of a current PenFed member.

Become A PenFed Member

The Pentagon Federal Credit Union currently services almost a million members from the military and defense industry, including members of the US Military, US government, American Red Cross and other associations. While the eligibility requirements of this credit union state that anyone connected to the government, military or defense-related companies can be a member, the fact is that anyone can actually become a PenFed member. Here’s how you can join them:

  1. Determine your eligibility as someone with defense and military associations and connections.
  2. If you don’t qualify through military or government associations, you can also become a PenFed Credit Union member by simply joining the National Military Family Association and by paying a one time, low fee of $20. Membership here is open to anyone.
  3. Open a PenFed Regular Share Account with a minimum deposit of $5.

Once a member, you can begin enjoying their benefits, get access to their bank products and can apply for their low interest rate cards, including rewards cards for travel and cash back, listed above.

Why is this card my favorite?

First, I trust the PenFed Credit Union. They’ve proven to me they know what they’re doing, and they have very competitive products, but that’s only my own personal experience and opinion. As for the card, I like it because:

  1. I don’t like carrying a lot of cards
  2. I don’t like playing the “rewards maximizing” game, where I have to always remember which card has the best reward for what category at what time.
  3. I like how it gives 5% for gas, 3% for groceries and 1% for everything else, which covers most of my normal expenses. There are cards with higher “everything else” rates, but you have to spend a lot to get up to those percentages.
  4. I like that they just put the cash right back to my card. I’ve had the card for just 5 months, and I’ve already earned over $150 in rewards.

I will admit that I do carry another card (Discover® More® Card, which has a $50 cashback bonus offer right now) for when I shop at Sam’s Club, and to use for the 5% rotating categories such as restaurants, hotels, etc, but 99% of my purchases are with the PenFed Visa.

Interested in the PenFed Visa? Click here to learn more, sign up or check out their other cards! If you’re a responsible user, I guarantee you’ll find something you like with their products!

About the author

Clever Dude


  • I could not agree more. I’ve been using the PenFed cash rewards for years now, and will *never* go back to any of those points-based nonsense rewards cards. I never have to worry about actually doing anything to get my rewards – its’s completely automatic. PenFed can’t change the value of the points, or anything like that. Free money, automatically, for using my card is about as good as it gets.

  • Same card for me, only the last few months but so far love it. I like that I don’t have to play any games to get the cash, just a little bit on my statement each month. Besides, I get enough from the 5/2/1 that it works out pretty close to the others.

  • Wow thanks for sharing this information. I’ll definitely check them out when I start looking for a new credit card. Have you done any other posts on credit unions? I’d be interested in reading more about them.

  • You know.. my wife and I just got a notice from CitiBank stating that they were changing their cashback dividend program on their credit card and they were automatically going to be sending us new cards. How Inconvenient!

    Instead of activating those cards, I think we are going to shop for a new card. The PenFed card looks like something that may be for us. Thank you for sharing this information. Very timely.

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