Highest flat gas earn rate — 5 pts per $1 at any gas station.
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Good–Excellent credit — 700+ FICO typical; PenFed membership required
ClearValue Rating: 4.1 / 5 — our editorial assessment (how we rate)
Editorial confidence (30%), cost (25%), value (25%), accessibility (20%) — scored consistently across every product, independent of compensation.
Non-warehouse-club drivers who want the highest consistent gas reward rate with no annual fee.
PenFed Platinum Rewards carries no annual fee. It earns 5 points per $1 at gas stations and 3 points per $1 at supermarkets, with 1 point per $1 on all other purchases.
| Year 1 value | Ongoing value |
|---|---|
| No annual fee + 5 pts/$1 on gas; welcome bonus subject to current offer — verify at penfed.org | 5 pts/$1 gas, 3 pts/$1 supermarkets, 1 pt/$1 elsewhere; no annual fee |
| PenFed membership required to apply; open to anyone who joins | |
PenFed Platinum Rewards Visa Signature® Card — Highest flat gas earn rate — 5 pts per $1 at any gas station. Best for: Non-warehouse-club drivers who want the highest consistent gas reward rate with no annual fee.. Compare it against alternatives before applying; the right fit depends on your situation, credit, and goals.
The card earns 5 points per $1 at gas stations with no annual fee, per PenFed Credit Union issuer terms verified June 2026. This is among the highest flat-rate gas earn rates on any no-annual-fee personal card currently available. Verify the current earn rate at penfed.org before applying — rates are subject to change.
Yes — PenFed Credit Union membership is required to apply. Membership is open to anyone; you can join online at penfed.org before submitting a card application. A minimum deposit into a PenFed savings account is typically required to establish membership. Verify current membership requirements at penfed.org.
Points earned can be redeemed for travel, merchandise, gift cards, or statement credits. Redemption values vary by method — travel redemptions typically return more value per point than statement credits. Verify current redemption options and rates at penfed.org before applying.
No. ClearValue Lending is not a bank, card issuer, lender, or financial advisor. This review presents publicly available editorial information about the PenFed Platinum Rewards Visa Signature Card. The card is issued and operated by Pentagon Federal Credit Union. Reward rates, terms, and eligibility are determined solely by PenFed and may change — verify current terms at penfed.org before applying.
How we rate
Every pick gets a 1–5 ClearValue Rating computed from four weighted factors: Editorial confidence (30%), Cost (25%), Value (25%), and Accessibility (20%).
Scored consistently across every product and independent of any compensation. Full methodology →
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