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Jonathan
Jonathan (@guest_353614)
February 14, 2017 22:33

To get the 5% you just have to open a money market account with them which is really easy to do. There is a minimum to open the money market but once its opened you can transfer the money back out, leaving 1 cent in it. In this way you get 5% gas cash back with no annual fee. This is still my go to gas card because 1. The rewards automatically apply and 2. I have it autopay so but i never even look at it and essentially am getting a 5% gas discount without any hassle of redeeming rewards. What other 5% cb card is that easy?

Dan
Dan (@guest_481474)
September 22, 2017 14:04

this card no longer seems to be available. I have it myself, but was trying to help get it for someone else. Also the representative I spoke to said that a minimum of $25 has to be kept in the money market account at all times, so YMMV on that minimum balance

Mohammad M
Mohammad M (@guest_146796)
July 17, 2015 16:58

What is it a “shame” that they don’t pay 5% for in store purchases?

Vince
Vince (@guest_146771)
July 17, 2015 16:12

For the PenFed Platinum Cash Rewards Visa Card:
Cash rewards automatically awarded to your account every month.
No caps, limits or tiers on rewards.

NO cashback is given on any other purchases other than gasoline paid for at the pump. (PenFed has removed language from the card’s webpage that mentions any cash back other than gasoline paid for at the pump.)

How to qualify for the Plus card
You can earn 5.00% on gas purchases paid at the pump and avoid an annual fee by obtaining a qualifying PenFed product. (Qualifying PenFed are products mentioned in the article above.)

For both cards:
For a limited time earn a $100 bonus statement credit for spending $1,500 in 90 days.

For all PenFed credit cars:
No foreign transaction fee.
Cardholders may sign up for Free electronic statement notification to avoid paying a $1.00 fee for mailed paper statements.