TYSONS, Va.–As CUToday.info has reported, competition continues to grow more fierce in the credit card rewards arena as issuers seek to grab what is expected to be a surge in spending.
While the major issuers have been leading the fight, PenFed Credit Union has also begun dangling some attractive rewards in front of its cardholders. The CU said its PenFed Platinum Rewards Visa Signature Card, which carries no fees, now offers reward points on all purchases and which was already offering 5x points on gas purchases paid at the pump, now offers members 5x points for purchases made at EV charging stations and 3x points at restaurants, supermarkets (including most Target and Walmart locations) and through TV/radio/cable streaming services.
New cardholders who spend $1,500 in their first 90 days will also receive 15,000 points.
“Whether our members are dining out, grocery shopping or charging their electric vehicles, we are proud to help make everyday purchases more rewarding,” said PenFed SVP-Consumer Products Sumeet Bhalla. “As more and more Americans return to the activities they love, such as sporting events, travel and dining out, PenFed cardholders will enjoy the platinum standard for rewards.”
Other Benefits
PenFed said cardholders also enjoy unlimited points, no rotating categories, no minimums and no expiration on points. Platinum reward points can be redeemed with gift cards for shopping, dining and entertainment, and travel though the PenFed Rewards catalog and shopping.
Other features of the card include:
- 1x points on all other purchases.
- No foreign transaction fees
- 0% Balance Transfers Promo APR for 12 months, 3% fee applies to each transaction