I’m going to make this as clear as I possibly can. The PenFed VISA Platinum Gas / Cash Rewards Card is the only gas card you need. Really, that’s the gist of this whole post. I could stop this review here, but I know it’s hard to trust a masked man so I guess I’ll explain in a bit more detail, but you guys need to be a little more trustworthy OK?
Next, the details of the card:
- 5% cashback on gas and 1% back on everything else
(reduced to .25% on everything else 2/1/12)(reduced to 0%! on everything else 10/26/13). The everything else portion used to be much better, but over time those rewards have eroded. The gas reward has never changed.
- No limits on rewards.
- Automatic reward integration. You don’t have to enroll in anything or cash in your points or anything like that. No expiration of points. No re-valuation of points. It’s straightforward. If I spend $500 on gas this month, then this month’s bill is reduced by $25. The rewards are credited every month. AWESOME
No annual fee.($25 annual fee effective 10/26/13 unless you have direct deposit of at least $250/mth or a loan or CD with PenFed – see website for details)
- No foreign transaction fees!
- APR If you read my blog, you don’t care what the interest rate is because you don’t carry a balance anyway.
- Great customer service. I’ve had this card for years. PenFed offers some of the best customer service on their cards that I’ve encountered.
- Auto-pay You can set the card to auto-pay. Note the payment actually goes through a couple days after the due date, but you are never charged for this. Don’t panic. It’s just the way their system works.
- The only minor pain is that you have to join PenFed by making a one-time donation to one of their affiliated organizations. At this point, that is a simple and painless process that is well worth the rewards you will reap over time.
See? You really don’t need any other card for gas than the PenFed VISA Platinum Gas / Cash Rewards Card. So if you don’t already have this one in your wallet, I would recommend adding it. It is simply a great credit card.