PenFed Launches Its Newest Reward Card, the PenFed Platinum Rewards Card, with "Your Life--Now More Rewarding" Campaign

As the newest member of PenFed's credit card portfolio, the PenFed Platinum Rewards Card offers members the opportunity to earn 5 points per dollar spent on gas purchases, 3 points per dollar spent on supermarket purchases, and 1 point per dollar spent on all other purchases.*

News provided by

Pentagon Federal Credit Union

Feb 14, 2012, 02:09 ET

ALEXANDRIA, Va., Feb. 14, 2012 /PRNewswire/ -- Pentagon Federal Credit Union (PenFed) officially announced today that it has recently added yet another star to its already diverse lineup of "Best in Class" reward cards, the PenFed Platinum Rewards Card.

(Logo: http://photos.prnewswire.com/prnh/20120105/DC31048LOGO)

As the newest member of PenFed's credit card portfolio, the PenFed Platinum Rewards Card program offers cardholders the opportunity to earn 5 points per dollar spent on gas purchases, 3 points per dollar spent on supermarket purchases, and 1 point per dollar spent on all other purchases.*

"We are very excited to bring this reward card to our membership," says Kevyn Myers, Executive Vice President, Collections and Card Services, PenFed. "We believe the PenFed Platinum Rewards Card rounds out our reward card portfolio rather nicely. We now have a rewards card program that has something for everyone—a rich "every day" value proposition, a more diverse range of point categories, and an easy to access and use rewards website."

With the PenFed Platinum Rewards Card, cardholders earn points that can easily be redeemed for merchandise, travel, gift cards, or even Visa® prepaid cards—which can be used like cash anywhere Visa is accepted.

Other key features of the PenFed Platinum Rewards Card include the following:

No annual or foreign transaction fees.
A variable 9.99% purchase APR capped on all new purchases through June 30, 2014.**
In addition, new cardholders can earn up to 25,000 points within the first three months of obtaining the card—that's 5,000 points for their first purchase, and 20,000 more points when cardholders spend $1,000 in the first three months.

For more information about how to become a PenFed member and apply for the PenFed Platinum Rewards Card, visit www.penfed.org or call 800-247-5626.

About Pentagon Federal Credit Union

Pentagon Federal Credit Union (PenFed) is the third largest credit union in the United States with over a million members, and more than $15 billion in assets. The credit union provides worldwide service to the Department of Defense, Army, Marine Corps, Navy, Air Force, Coast Guard, and Department of Homeland Security personnel, employees or volunteers of the American Red Cross and military associations, and many others in the defense community and their families.

*Rewards are available only for new purchases made with the card: cash advances, checks drawn from the account, and balance transfers are excluded and do not earn credit toward rewards. Certain restrictions may apply. Visa® USA determines which transactions are classified as gas purchases paid at the pump and supermarket purchases based on Merchant Category Codes. Military commissaries are supermarkets. Fuel purchases for airplanes and boats receive 1 point per dollar spent. Your card account must be open and in good standing to earn rewards. **9.99% APR: Variable 9.99% introductory purchase and cash advance rate capped through June 30, 2014. During this time the rate can only decrease if the Prime Rate decreases. After June 30, 2014 the cap will be removed and the APR will increase or decrease with the Prime Rate. Balance Transfer Rate: 1.99% APR promotional rate for 24 months on transfers made between January 1, 2012 and March 31, 2012. After that, the APR for the unpaid balance and any new transfers will be 9.99% and will vary with the market based on the Prime Rate. This transaction is subject to credit approval. Fee is reduced to 1% (Min. $10 - Max. $250) per transaction for transfers made through March 31, 2012. The fee for balance transfers made after March 31, 2012 will return to 3% (Min. $10 – Max. $250) per transaction. How We Calculate Your Balance: We use a method called "average daily balance" (including new purchases). See PenFed's account agreement for more details. Annual Percentage Rate (APR) on Purchases and Cash Advances: Your APR can change on January and July of each year. Terms, conditions and restrictions apply. Additional details will be provided upon card issuance. Loss of Balance Transfer APR: We may end your promotional Balance Transfer APR and apply the Penalty APR if we do not receive your payment within 60 days of the due date. All rates and offers current as of February 1, 2012 and are subject to change.