Melissa Lambarena is a senior writer on the credit cards team at NerdWallet. She has enthusiastically covered credit card-related topics for over seven years. Her prior experience includes nine years as a content creator for several publications and websites. Through her work, she aims to help readers extract value from credit cards to meet financial goals like stretching their budget, building credit, traveling to dream destinations and paying off debt. She explores these topics in the Millennial Money column featured in The Associated Press. Her work has also appeared in The New York Times, Chicago Tribune, The Washington Post, USA Today and Yahoo Finance, among others. Melissa has a bachelor’s degree in sociology from the University of California, Los Angeles.
Assigning Editor Kenley Young
Assigning Editor | Credit cards, credit scores
Kenley Young directs daily credit cards coverage for NerdWallet. Previously, he was a homepage editor and digital content producer for Fox Sports, and before that a front page editor for Yahoo. He has decades of experience in digital and print media, including stints as a copy desk chief, a wire editor and a metro editor for the McClatchy newspaper chain.
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PenFed Credit Union — headquartered in Tysons, Virginia — specializes in serving military-affiliated members and their families, although everyone is eligible to join.
You'll have to submit an application and open a PenFed savings account with a $5 deposit to become a member. If you don’t mind fulfilling these extra steps, you could potentially qualify for credit cards with money-saving features.
The right pick for your wallet depends on your spending habits. Take a look at our favorite PenFed credit cards.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Learn More3 points back per dollar spent on travel purchases (4 points back on travel for PenFed Honors Advantage members ).
1.5 points back per dollar spent on all other purchases.Welcome offer: 50,000 bonus points after spending $3,000 in purchase transactions within the first 90 days of account opening.
Annual fee: $95 (waived for PenFed Honors Advantage members).
APR: 0% introductory APR for 12 months on balance transfers made in the first 90 days after account opening. After that, the APR for the unpaid balance and any new balance transfers will be a non-variable rate of 17.99%.
The PenFed Pathfinder® Rewards Visa Signature® Card offers premium perks for a relatively low (and potentially no) annual fee. Benefits include a $100 annual domestic air ancillary travel credit, a reimbursement for Global Entry or TSA Precheck application fees, and an annual complimentary Priority Pass airport lounge membership. Terms apply. The card also earns rich rewards on travel purchases and a rock-solid rate on everything else. As a Visa with broad merchant acceptance and no foreign transaction fees, the card is also well-equipped to travel internationally.
You'll have to take some extra steps to get the annual fee waived by opening and maintaining a qualified Access America or free checking account with the credit union. Redemptions are also limited. If you prefer cash back as an option, you won't find it on this card.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Learn More3 points per dollar spent points on supermarket purchases (including most Target and Walmart locations), restaurants, plus TV, cable, radio and streaming services.
1 point per dollar on all other purchases.Welcome offer: 15,000 points after $1,500 spend during first 3 months of card open date.
APR: 0% introductory APR for 12 months on balance transfers made in the first 90 days after account opening. After that, the APR for the unpaid balance and any new balance transfers will be a non-variable rate of 17.99%.
The PenFed Platinum Rewards Visa Signature® Card earns generous rewards on everyday categories you're likely to use; 5X back on gas is among the best rates you can find in that category, earning this card a spot in NerdWallet's best gas credit cards . There's no spending cap in those bonus categories either.
You can redeem rewards only for merchandise, gift cards and travel — cash back is not an option. Note, too, that the 5X back is only on "at the pump" purchases, meaning what you buy inside an attached convenience store may not qualify.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Learn MoreWelcome offer: $100 statement credit after spending $1,500 in purchase transactions within the first 90 days of account opening.
APR: 0% introductory APR for 12 months on balance transfers made in the first 90 days after account opening. After that, the APR for the unpaid balance and any new balance transfers will be a non-variable rate of 17.99%.
The PenFed Power Cash Rewards Visa Signature® Card offers a decent 1.5% cash-back rate on all purchases. You can redeem cash back for statement credit or a deposit into a qualifying PenFed bank account. With no foreign transaction fees, this credit card is well-equipped for travel. As part of the Visa network, it also offers broad international merchant acceptance.
Other cash-back credit cards offer shinier introductory incentives such as a higher sign-up bonus and a 0% introductory annual percentage rate for purchases.
NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates coverage options, customer experience, customizability, cost and more.
Learn MoreWelcome offer: N/A .
APR: 0% introductory APR for 15 months on balance transfers made in the first 90 days after account opening. After that, the APR for the unpaid balance and any new balance transfers will be a non-variable rate of 17.99%.
The PenFed Gold Visa® Card offers a decent balance transfer option compared with other credit cards. You can move an eligible balance onto it from a different issuer to get a lower interest rate and make more progress on paying off debt. There’s a 3% balance transfer fee to consider that is charged on the amount transferred. To know if it’s worth paying, compare the interest charges your current card would apply over time versus the cost of the balance transfer fee.
There's little incentive to use this card after you've paid off your balance transfer. And if you need more time to do just that, other balance transfer credit cards can offer longer interest-free windows.
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Melissa is a credit cards writer at NerdWallet. Her work has been featured by The Associated Press, New York Times, Washington Post and USA Today. See full bio.
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