The PenFed Platinum Rewards Visa Signature Card is a solid option for PenFed Credit Union members who want to earn unlimited rewards on all purchases without paying an annual fee. However, its strong rewards earning is offset by the value of the points — often less than 1 cent each. There are plenty of other cards that don't require credit union membership that offer high earning and redemption rates, benefits, and welcome bonuses. Be sure to review all the top rewards credit card options before applying.