A Good Offer? And the Tuna Says...

Oh great Card Tuna, swami of credit cards. I have a dilemma and don't know what to do, can you help me?

Today, I received a mailing from Pentagon Federal Credit Union. Inside, it had a great offer for credit card. At least I thought so. But I'm so confused about credit card rewards, that I'm not sure what to do.

So here's what they're offering me, oh great tuna, and I ask you what should I do?

It's a Visa platinum cash rewards credit card, which has historically given you 5% cash back for gas paid at the pump. It's also had 1.25% cashback for all other purchases. And those cashback bonuses are paid on a monthly basis to PenFed members. The new twist on the offer is that it now includes 2% cashback on supermarket purchases. Again, awards are paid monthly.

The interest-rate offers sound pretty good as well. Balance transfers get a 5.99% APR for the life of the transfer. The current interest rate for the credit card is a 13.99% APR. While I know that's not the greatest rate, since I pay my balance in full each and every month -- as you preach, oh great tuna -- I'm not worried too much about that rate.

So, what do you think? Deal, or no deal?