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This thread is for discussion of the PenFed Platinum Cash Rewards Visa Card, described here: https://www.penfed.org/Platinum-Cash-Rewards/

Plus Version:
5% Cashback for Gas Purchases at the Pump
No cashback on other purchases
No annual fee

There is also a Standard Version:
3% Cashback for Gas Purchases at the Pump
No cashback on other purchases
$25 annual fee

To qualify for the Plus Card, you must hold one of these types of accounts:

• Active checking account with direct deposit ($250 min.)
• Money Market Certificate or IRA Certificate
• Mortgage
• Installment loan
• Equity Loan or Equity Line of Credit
• Thrifty Credit Service
• Personal Line of Credit
• Money Market Savings Accounts

Reports in this thread indicate the easiest method is to hold $25 in a Money Market Certificate.

Note: Much of the discussion at the beginning of the thread is about the introduction of a points-based card similar to this card, along with special offers to "upgrade" to that card. Additionally, there is a lengthy discussion about the introduction of the Standard vs. Plus tiering.

There are several similarly named PenFed cards. Please see the chart at the top of the
Master Thread: PenFed Family of Cards + Chip & PIN Questions to make sure you post in the correct thread!