PenFed Platinum Rewards Visa 5x Gas Points, No Annual Fee, Ideal for Drivers
PenFed Platinum Rewards Visa delivers 5x points at the pump, no annual fee, and Visa Signature perks that help U.S. drivers maximize fuel savings
Why drivers in the U.S. are noticing this card
The PenFed Platinum Rewards Visa is built around everyday fuel spend, delivering 5x points at gas stations and EV chargers. For American drivers who fill up weekly or commute long distances, that multiplier turns routine trips into meaningful rewards.
Because there is no annual fee, the card is a low-risk way to boost value on gas purchases without paying to keep the account open. That combination—5x gas points plus no annual fee—makes it one of the more compelling gas rewards credit cards for U.S. consumers.
Rewards, extras, and how points stack up
This PenFed Visa pays 5x points per dollar on gas, 3x at supermarkets and streaming/services, and 1x on everything else. Those 5x points accelerate point balances quickly, especially if you do a lot of driving or own an EV that you charge on the road.
Points are best redeemed for travel (highest cents-per-point value), though cards and merchandise are options too. If you focus redemptions strategically, your effective savings on gas and travel can outpace many cash-back cards.
Fees, membership requirement, and Visa Signature benefits
There’s no annual fee, and an introductory 0% APR on balance transfers for 12 months can help if you’re consolidating debt (balance transfer fee applies). The tradeoff: you must join PenFed Credit Union to apply, which requires a small qualifying deposit—usually $5 into a savings share.
As a Visa Signature card, the PenFed Platinum Rewards Visa adds perks like travel protections, car rental collision coverage, and concierge access. These extras enhance the card’s everyday utility for drivers who travel or rent cars reasonably often.
How to maximize value and decide if it fits your wallet
To get the most from PenFed Platinum Rewards Visa, put most of your fuel and grocery spend on the card and redeem points for travel when possible. Track promotional award periods for gift card deals and avoid low-value merchandise redemptions unless they make sense for your needs.
If your monthly spending is heavy on gas and groceries and you don’t need simple cash-back, this card is hard to beat for net value. But if you prefer straight cash rewards or want instant, flexible redemptions, compare cash-back cards before applying.
