Not Offered
Not Offered
14.49% - 17.99% (V)
annual fee
$0
rewards rate
1 - 5 points / $1
Rewards Bonus
15,000 points
Rewards Bonus
15,000 points
Excellent Credit
Pros
Cons
Rewards Details
Additional Info
Not Offered
Not Offered
7.49% - 17.99% (V)
annual fee
$0
rewards rate
N/A
Rewards Bonus
$100
Rewards Bonus
$100
Excellent Credit
Pros
Cons
Rewards Details
Additional Info
Not Offered
Not Offered
15.99% - 17.99% (V)
annual fee
$0
rewards rate
1.5 - 2% Cash Back
Rewards Bonus
$100
Rewards Bonus
$100
Excellent Credit
Pros
Cons
Rewards Details
Additional Info
Not Offered
Not Offered
15.99% - 17.99% (V)
annual fee
$95
rewards rate
1.5 - 4 points / $1
Rewards Bonus
50,000 points
Rewards Bonus
50,000 points
Excellent Credit
Pros
Cons
Rewards Details
Additional Info
Get answers to your questions about PenFed Credit Card Reviews below. For more general questions, visit our Answers section.
Yes. Anyone can join PenFed. PenFed membership is free for everyone now, but PenFed was originally created to serve U.S. military members and veterans of all branches, as well as federal employees and retirees. PenFed formerly required non-government and non-military applicants to donate to a military charity to be eligible for membership, but they no longer require this. As long as you're a U.S. citizen or permanent resident of the United States, you can join Pentagon Federal Credit Union by simply funding a savings account with at least $5.
All you have to do to apply for PenFed membership is enter your personal information – including your name, address, Social Security number or ITIN, and other info – on the membership form. Before you submit your application for membership, you'll be asked to make a deposit of at least $5 to a new PenFed savings account using a debit card or a bank transfer.
PenFed Membership Eligibility Requirements:
All in all, it's very easy to become a PenFed Credit Union member. To fill out a membership form, visit the PenFed Credit Union website. Alternately, you can apply for membership over the phone by calling 800-247-5626.
PenFed Credit Union scores fairly well among WalletHub users with an average rating of 3.6 (out of a possible 5). PenFed credit cards get solid ratings from WalletHub's editors, too, led by the PenFed Platinum Rewards Visa Signature® Card with an editors' rating of 4.5/5, followed by the Shell Federal Credit Union Platinum Credit Card at 4.4/5 and the PenFed Gold Visa® Card at 3.3/5. Pentagon Federal Credit Union enjoys an A+ rating with the Better Business Bureau, as well.
No, PenFed doesn't have any secured credit cards. 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.
Ultimately, you can check our editors' latest picks for the best secured credit cards on the market and see which one suits your needs better.
The PenFed Honors Advantage program offers higher earning rates to eligible PenFed Power Cash Rewards Visa Signature® Card and PenFed Pathfinder® Rewards Visa Signature® Card cardholders. More specifically, PenFed Power Cash Rewards cardholders get 2% cash back on all purchases and PenFed Pathfinder cardholders get 4 points / $1 spent on travel if they are eligible for this program.
Keep in mind that you must maintain your checking account in order to receive the higher earning rate through the PenFed Honors Advantage program. If you close your checking account, you will no longer be earning the supplemented rewards.
It is also worth noting that you can only earn rewards on purchases (minus any credits or returns). Cash advances, balance transfers, and checks are not considered purchases and will not earn rewards.
The usual PenFed credit card approval requirements include an excellent (750+) credit score and proof of a steady income. Applicants must also be at least 18 years old and either a U.S. citizen or permanent resident.
Those under 21 years old will need to offer evidence of an ability to independently make monthly payments, too. PenFed credit union membership is also required in order to be approved for a credit card. Membership requirements and an application to join are available on the PenFed website.
Application requirements also include personal information such as your name, address and birthdate. Your Social Security number (SSN) or Individual Tax ID Number (ITIN) and U.S. citizenship status are also required. In addition, PenFed will review your credit history, your income and any debts you have. Your bank account information, monthly mortgage or rent payment and employment status will also be taken into account.
We work hard to show you up-to-date product terms, however, this information does not originate from us and thus, we do not guarantee its accuracy. Actual terms may vary. Before submitting an application, always verify all terms and conditions with the offering institution. Please let us know if you notice any differences.
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. Advertising may impact how and where products appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.
Editorial and user-generated content on this page is not provided, commissioned, reviewed, approved or otherwise endorsed by any issuer.
Your web browser (Internet Explorer) is out of date and no longer supported.
Please download one of these up-to-date, free and excellent browsers:
