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In order to get this card, you have to be a member of PenFed Credit Union. It is easy to become a member (almost anyone can join), and you will be shown how once you start the application process. Membership also gives you the opportunity to take advantage of their other banking products. PenFed has some high rates on savings accounts and low rates on loans you should consider.
This card does not have a good balance transfer offer: 0% for 12 months, with a 3% up-front fee.
So – think of this as a card to be used for your gas station spend. The PenFed checking account has limitations (have you seen a PenFed ATM lately?). The best way to get a qualifying account is a money market account, where a minimal balance is required.
For all other spend (away from a gas station) – you should use a different card where you can earn rewards.
The other great feature of this product: a 9.99% interest rate. If you have short-term borrowing needs, this would be one of the least expensive options out there.