Credit Card Details

PenFed is a credit union, which means they are a non profit financial institution that exists to serve the members. The result is you get to choose between some great credit card offers with low fees. If you need cash advance on the PenFed Visa Platinum Cash Back Rewards card then there are no fees charged as opposed to other credit card issuers charging 3%. You also pay the same APR as for purchases and all their other fees are also lower. It does not matter if it is balance transfers, late payment or over-the-credit-limit fees.

You do not need to be in the military or have a family member in the military in order to join PenFed. For a one time fee of $20 to the National Military Family Association you can apply for any PenFed credit card offer and also take advantage of their other products such as loans, mortgage, insurance or checking/savings account.

The cash reward program for this offer is very good and also simple. The way it works is that you get 1% in cash back on every purchase, but for grocery purchases the cash reward is doubled and for gas purchases the bonus is 5 times your regular purchase bonus. Each month your earned rewards will be automatically credited to your account. No risk of expiring rewards or forgetting to redeem.

In order to keep the fees low and cash reward program as one of the best in the industry, they do require a good credit history, but if you get approved then it will most likely be the primary card in your wallet or perhaps the only one.