Penfed Rewards Visa to Offer 2% Rebate on Groceries

According to Banking Guy, PenFed will be improving their already-excellent Visa Platinum Gas Cash Rewards card. In addition to 5% on gas and 1.25% on everything else, PenFed will begin offering a 2% rebate on groceries as well, starting in January.

With your cash back credited back to your account monthly and no additional fees for purchases made in foreign currencies (other than those imposed by Visa), the card is excellent for general-purpose use. While membership in PenFed is required, it is easy to join. A list of eligible institutions is located here; if you are not already a member of one of these groups, you can join the National Military Family Association for a one-time fee of $20, and become instantly eligible for PenFed membership.