$250 Signup Bonus with a PenFed Platinum Rewards Card

Posted on February 26, 2012 by Max

(10 votes, average: 4.90 out of 5)

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Pentagon Federal Credit Union has launched the new PenFed Platinum Rewards Card with a special $250 bonus offer.

Is the PenFed Platinum Rewards Card better for PenFed Platinum Cash Card?  – Yes!

The PenFed Platinum Rewards Card not only offers bonus points for gas but it also offers bonus points for supermarket purchases and a point for all other purchases. Remember, the points are worth $.01 so it is like receiving 1% “cash back.” The biggest difference between the two programs is that the cash rewards program credits you automatically each month in the form of a statement credit while the point rewards program requires you to redeem your points when you are ready. If the automatic monthly statement credit is something that is very important to you, it may be better to keep your existing Cash Rewards card. You can always apply for the Platinum Rewards Card at a later time.

PenFed Platinum Rewards is:

• 1% back for all other purchases;
• 3% back on supermarket purchases;
• 5% back on gas purchases.

With perks like this and no annual fee, the new PenFed is on par with the best rewards credit cards in the business.

However, the Platinum Rewards Card comes with a signup bonus that unquestionably has both cards beat: $250. You’ll earn 5,000 points the first time you use the card and another 20,000 points when you spend $1,000 in the first 3 months. The Chase Freedom is currently offering a $200 bonus, and AmEx Blue Cash Preferred is offering a $100 bonus.

Updated 05/07/12

Get $30 after 3 online purchases. Pentagon Federal is offering a one-time $10 statement credit for each automatic bill payment you set up with your PenFed Visa now through June 30, 2012, up to a limit of 3 payments:

Offer valid in the U.S. only. This promotion is not transferable. The offer is only applicable to the account number referenced above. A $10 statement credit will be applied for making at least one qualifying “Card Not Present” Visa bill payment transaction with a U.S. merchant at any time during the Offer Period between May 1, 2012 and June 30, 2012 using the PenFed Visa “Card” referenced above. One-time and recurring Visa bill payment transactions qualify for the Offer. Maximum statement credit award is $30. To qualify, the Visa bill payment transactions must: (i) be completed a using the full PenFed Visa 16-digit Card number referenced above during the Offer period; (ii) be identified to Visa by the biller as a one-time or recurring bill payment based on the information available on Visa’s proprietary network (VisaNet); and (iii) post to the Visa PenFed Card accoun t referenced above by June 30, 2012. Note: “Card Not Present” transactions are transactions in which the Card is not physically present at the time of the transaction because the cardholder is not physically present or the card itself is not presented. Such transactions can be carried out through ecommerce, MOTO (mail/telephone order) or recurring payments/installments transactions.

Please allow up to 60 days after the end of the Offer Period to receive your statement credit. Account must be open and in good standing at the time the credit is applied.