PenFed offers the PenFed Cash Rewards Visa Signature card, this card offers up to 5% cash back on gas purchases. There are a number of requirements to get that 5% rate (you can read about those in our review here), but 5% cash back on gas is as good as it gets.
PenFed recently introduced a 1.5-2% cash back card on all purchases and with that they removed the ability to apply for the 5% gas card online. MyFICO user happypill was able to apply via phone and was succesfully approved. They also list this as an option here.
If you’re interested in this card, I’d recommend applying sooner rather than later.
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"5% cash back on gas is as good as it gets"
Maybe true if its just cashback, but I recently stocked up on gas GCs for a year in the BB deal...with stacked offers, 22% off including BB rewards. So while 5% may be the best gas cashback, its probably not worth the trouble since you can get gas at 20%+ off by other means.
Note also that the BB deal is not the only one though it was the best to stock up on without limit. 14% is easy while 21% is possible through the use of 6% Amex combined with grocery store deals on gas cards like at SR where it was recently 15 off wyb $100 in GC including gas GCs.
I got this card in branch today. Still with $100 offer.
Correction, I actually got the platinum rewards, not the cash rewards card.
This card no longer seems to be available. Called in and asked and was told not open to new customers, but old ones were grandfathered in. The next best option for penfed seems to be the platinum rewards which is 5x points at less than $.01/point value
thanks for commenting
Received a letter in mail today from PenFed/TruStage Insurance regarding free $1,000 AD&D insurance coverage. This offer is available to all PenFed Credit Union members ages 18 and over. The letter provided a link to enroll online (not sure if I can provide a link here). I was skeptical at first but after some research, looks like many credit unions offer this type of benefit with the hope that you will purchase additional coverage at a cost. If you're a PenFed member, you should contact them for this free $1,000 insurance coverage.
Anybody know if there is a bonus associated with this card?
Is PenFed MS sensitive? I could wreak havoc with this at my local 7-11s I'm friendly with..
What area do you live in? The few 7-11s I have visited are all hard coded against buying Visa gc with credit cards.
Alas, hard coded only at pumps
Officially, it states that the bonus is only at the pump, but I can tell you that at my local Wawa (NJ), I also get 5x on my in-store purchases on my PenFed Platinum Rewards card.
Can't speak to the Platinum, I have only tried with the Cash Rewards and it was a definite no-go at the place where I routinely get the 5% with other cards. Maybe I'll try with Plat--how do you redeem the Plat?
Shouldn't this be the Cash Rewards card instead of Platinum Rewards?
Fixed
Curious if you've ever looked at the Fort Knox credit union Platinum Visa with unlimited 5% cash back on gas? I love mine!
Yes, we've posted this before. They are MS sensitive
I have one from Fort Knox but they are very conservative. A credit score of 800+ they only grant you a CL around $2500. And what's really weird is when you request a CL increase, you need to submit a new application, and then they approved you a new credit card account (with a new card # and HP of course) and close the old one. Some ppl might not mind but to me it's annoying.
Interesting. I got a CL increase and had to submit a copy of my paystub, but same card and number. Not sure if there was an inquiry.
If you are only using it for gas why do you need a CL higher than $2500? MS?
Russ,
Which store do you buy that "gas" at?
I'm a truck driver. monthly spend on gas/diesel is around $5000.
Ha! I think there are a lot of truck drivers around here. My tank takes $504.95 of diesel almost every time - $1009.90 if I draw a rig with a double tank.
Aah, that makes sense. Thank you for the clarification!
It's listed on the best gas card link.