The PenFed Platinum Cash Rewards Card is now offering a 4.99% Promotional APR for 24 months on all balance transfers (together with waived balance transfer fees) until December 31, 2011. Moreover amazing offer, the card features a 5% cash back on gas purchases and 1% on all other purchases, rendering it among the best cash rewards gas cards available. There is no minimum or maximum amount of reward you may receive, and this rebate will be automatically credited to your account each billing cycle.

Key Features:

• Variable 13.99% APR -lower than most rewards cards. After that, the APR for the unpaid balance and any new balance transfers will be 13.99% APR and will vary with the market based on the Prime Rate
• Earn 5% cash back on gas purchases paid at the pump, making this card among the most generous gas credit cards around
• Earn 1% cash back on all other purchases you make with the card during each billing cycle
• No Annual Fee
• Cash Rewards credited each month with no special restrictions to earn your cash rewards

Pentagon Federal Credit Union serves over one million members in the military and is among the strongest and safest banking institutions with more than $15 Billion in assets and branch locations in the Washington, D.C. area, Hawaii, New York, Texas, and North Carolina, as well as overseas. Membership is open to any branch of the military, US government employees, or the family or household of existing members. Not a member of the military? No problem. You are eligible for membership through your volunteerism (e.g. The American Red Cross), or you can also join by making a one-time donation of $20 to the National Military Family Association (NMFA).

With no annual fee, exceptionally low promotional balance transfer APR, and one of the highest cashback rewards rate on the market, the PenFed Platinum Cash Rewards Card is definitely a card to have if you have excellent credit and are wanting a high rebate gas card.