bank rates

Get 5% Back With Gas Rewards Card

The daily headlines are making it hard to ignore the memory of $4-a-gallon gas. If that nightmare returns, it’s best to be prepared.

You must be a member of Pentagon Federal Credit Union to receive this cardThe PenFed Visa Platinum Cashback Rewards Card is our favorite gas rewards card on the market today.

The Pentagon Federal Credit Union card is the only one to offer 5% cash back on gasoline purchases, with no limit on how much you can earn.

This card also includes 1% cash back on all other purchases, no annual fee and a reasonable interest rate — a variable 13.99% (prime plus 10.74%).

We think this card can save you hundreds of dollars a year depending on how much you drive.

There is, however, one catch.

You must become one of Pentagon Federal Credit Union’s 1 million members to obtain the card.

But that isn’t hard.

If you ever served in the military, are a government employee or work for a defense contractor, you probably qualify to join PenFed for free by placing just $5 in a share account.

You can also become a member through a one-time $15 donation to Voices for America’s Troops or a one-time $20 donation to the National Military Family Association. The nonprofit group provides assistance to military families.

Here are all of the ways you can qualify to join PenFed, which also offers one of our favorite travel rewards credit cards.

It may look like a hassle simply to file an application, but a $15 or $20 one-time donation to a good cause is well worth the savings you’ll achieve with the PenFed Visa Platinum Cashback Rewards Card.

Check our database to see how PenFed’s deal compares with the best gasoline rewards credit cards from other issuers.

Don't miss out on the next bank deal. Get the newest deals delivered straight to your inbox!

Comments (2)
1 Star2 Stars3 Stars4 Stars5 Stars (4 votes, average: 4.50 out of 5)
2 Existing Comments
  1. Kathy at Bankaholic said:
    on March 27th at 08:13 am

    The deal’s still good as of March 27, 2011.

  2. Kathy at Bankaholic said:
    on May 26th at 05:44 am

    Under PenFed’s limited-time offer, until June 30, 2011, balance transfers cost only 4.99% APR for the life of the balance and balance transfer fees are waived.