My Favorite Rewards Credit Card

I can't remember if I wrote about my favorite rewards credit card ever but I've been thinking a lot about this card lately. It's from Pentagon Federal Credit Union. I will say straight away that they can be a little picky with credit. If you have a FICO score under 700, take a little time to work on that before you apply.

Why do I love it? Rewards are 5% on gas, 2% on groceries, and 1% on everything else. No tiers, no limits. They give you a credit on your statement every month so there's no waiting till you hit $50 to get your money. It's the easiest thing ever. They've also given me the most generous credit limit I have yet. My other cards are from Chase, Discover, and Citi. I honestly can't tell you what the APR is because I've never carried a balance.

To get this card you will need to be a member of a military family or you will need to join the National Military Family Association. It costs $20, it goes to a great cause, and you only need to join the first year. You will also need to open a free savings account at Penfed where you will need to deposit $5.00. So $25 the first year and that's it. Ever. I easily earn $10-20 a month in rewards so those costs are covered within two months for me. I'm not a huge spender, I don't have a big family or anything.

So if you prefer to use a rewards card and you would like a new one for your arsenal, check it out.