PenFed Platinum Rewards Visa Scores 5x Gas Points and No Annual Fee for Drivers
PenFed Platinum Rewards Visa lets drivers earn 5x points at gas stations and EV chargers with no annual fee while turning everyday fill-ups into travel value
Why drivers love the PenFed Platinum Rewards Visa
The PenFed Platinum Rewards Visa is built for people who spend on gas and daily driving costs. With 5x points at gas stations and EV chargers, every fill-up becomes a way to earn travel rewards instead of just a cost at the pump.
Because it has no annual fee, drivers who log lots of miles get high rewards without a recurring charge. That makes this card a strong contender for commuters, rideshare drivers, and road-trippers who want maximum value from regular gas purchases.
Rewards structure and real-world value
This card pays 5x points per dollar on gas station and EV charger purchases, 3x points at supermarkets and restaurants, and 1x on everything else. The 5x gas points are especially meaningful for households with consistent fuel spend or electric vehicle owners using public chargers.
Points usually deliver the best value when redeemed for travel, where you can extract higher cents-per-point compared to merchandise or gift cards. Smart redemption strategy turns daily gas and grocery spending into free flights or hotel nights over time.
Fees, APRs and PenFed membership details
There’s no annual fee on the PenFed Platinum Rewards Visa, and it offers an introductory 0% APR on balance transfers for 12 months — handy if you’re consolidating high-interest balances. Note that balance transfers typically carry a 3% fee, and standard APR applies after the promo.
To get the card you must join PenFed Credit Union, which is straightforward: open a PenFed savings account with a small deposit to establish membership. Many Americans find credit union rates and member perks worth the extra step compared to big banks.
How to maximize points and when it’s the best fit
Use the card for gas, EV charging, and groceries to pile up the most points fast. Combine those category bonuses with regular travel redemptions to get the most out of 5x gas points — schedule redemptions for flights or hotel stays during value windows to increase cents-per-point.
If you prefer simple cash-back cards or need flexible cash redemptions, this card might feel restrictive because PenFed’s point redemptions favor travel. But for drivers who want big rewards on fuel and don’t want to pay a fee yearly, the PenFed Platinum Rewards Visa is hard to beat.