Best cards that earn PenFed points

Featured cards

All 2 cards that earn PenFed points, with what each one is actually best at. Tap any card to jump to its row.

1. 1 PenFed Platinum Rewards — Best overall for earning PenFed points: 5x on gas, no annual fee — 4.3¢ back per dollar
2. 2 PenFed Pathfinder Rewards — 3x on travel, $95 a year — 2.6¢ back per dollar

Ranked by real value, not multiplier

Headline rate is each card's best bonus rate that pays anywhere in its category. A rate that only pays at one brand or through one portal (14x at Hilton, 8x on United fares, 5x via Chase Travel) is printed in grey and excluded from the ranking — it is a loyalty rate, not a category rate. Real value is the headline rate × 0.85¢.

What PenFed points are worth

We value PenFed points at a conservative 0.85¢ per point — the same number the optimizer scores your charges with, and deliberately not the best-case figure a points blog would quote. PenFed points are the bank's own points — redeemable for travel or cash, but they do not transfer out to airline and hotel partners. Below a penny, which means a big multiplier in PenFed points can lose outright to a plain 2% cash-back card.

Full PenFed points valuation and methodology →

Which one should you carry?

On paper PenFed Platinum Rewards earns the most per dollar at its headline rate, and it charges no annual fee. A headline rate only pays on the category it names, so the card that earns you the most PenFed points is the one whose bonus categories match your actual spending — which is the whole reason we built the optimizer instead of a top-ten list.

How we rank

One arithmetic rule, applied by code to our maintained card database. There is no editorial pick, no hand-ordering and no sponsored slot.

• Printed earn rate. Each card's best non-portal bonus rate — its headline rate — as printed by the issuer. Where a card has no bonus category, its base rate is used instead, and the table says which.
• Conservative point value. Every rate is multiplied by our conservative 0.85¢ value for PenFed points, the same number the optimizer scores real spending with. Because every card here earns the same currency, that value cannot change the order — it sets the scale, and it is what lets you compare this page against a guide for a different currency. Every point value we use, published →
• Annual fee. Printed against every card and used to break ties. The best fee-free earner is PenFed Platinum Rewards at 4.3¢ per dollar.
• Caps and limits. Where a headline rate stops after a spending cap, the cap is on the card's own page. Check it before treating a high rate as your everyday rate.
• Pool and cutoff. 221 open US cards are in our database; 2 of them pay out in PenFed points and qualify. All 2 are ranked above; there is no cutoff on this page.
• Rotating and pick-your-own categories. Kept out of the headline ranking, because they only pay in the right quarter or with the right election. Issuer-travel-portal-only rates are excluded for the same reason: they pay only if you book through the portal.
• Commission. The ranking code has no access to which cards pay us a commission — the ordering function never reads the affiliate file. Any apply link is attached after the order is already fixed, so it cannot move a card up or down. How that works.

Full methodology, including how each point value is set: how we value points and rank cards →

Common questions

More guides

Every guide on this site is built by the same code from the same card database, so the numbers on one page mean exactly what they mean on another. Jump sideways:

All 70 best-card guides → · Best card for a specific store or bill →