There is no PenFed secured credit card. Pentagon Federal Credit Union has offered secured credit cards in the past, but they stopped taking new secured card applications in 2019.
PenFed only offers unsecured credit cards for members with above-average credit. There’s no security deposit required, but potential customers with credit scores below 700 may find it difficult to get approved.
Although PenFed does not have a secured credit card, there are plenty of good alternatives. Navy Federal Credit Union, for example, offers the nRewards Secured card for members with bad or no credit. It gives 1 point per $1 spent and comes with a $0 annual fee. A fully-refundable deposit of at least $200 is required. Other good secured credit cards include Wells Fargo Secured, Bank of America Cash Rewards Secured, and Discover it Secured.
Most PenFed credit cards require an excellent credit score (750+) for approval. A few are also designed for people with good credit (700-749). Please find a full list of cards on our PenFed credit card page.
The best PenFed credit card is the PenFed Power Cash Rewards card. It offers 1.5% cash back on all purchases and gives a $100 bonus statement credit for spending $1,500 within the first 3 months the account is open. The card also comes with a $0 annual fee and an intro balance transfer APR of 0% for 12 months. Plus, members who meet certain military service and/or checking account requirements qualify for PenFed Honors membership and will earn 2% cash back on all purchases instead of the standard 1.5%.… read full answer
For higher earnings on everyday purchases, the best PenFed card is the Platinum Rewards card. You’ll earn 5 points per $1 spent on gas purchases, 3 at grocery stores and 1 on all other purchases. Or, the Gold Visa is PenFed’s best low-interest card. The regular APR is 7.49% - 17.99% (V), and that’s after the card’s introductory interest rate of 7.49% - 17.99% (V) on balance transfers. Both the Platinum Rewards and Gold Visa cards have the same $100 statement bonus offer as the Power Cash Rewards card.
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