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PenFed Power Cash Rewards Visa Signature® Card


Intro offer

$100 statement credit offer when you spend $1,500 in the first 90 days from account opening


Rewards

2% cash back on all purchases for PenFed Honors Advantage Members, 1.5% cash back on all purchases made with your card

PenFed Credit Union PenFed Power Cash Rewards Visa Signature® Card

PenFed Power Cash Rewards Visa Signature® Card


Intro offer

$100 statement credit offer when you spend $1,500 in the first 90 days from account opening


Rewards

2% cash back on all purchases for PenFed Honors Advantage Members, 1.5% cash back on all purchases made with your card

On PenFed Credit Union’s website

If you bank with PenFed credit union (or are willing to join), this card could put a lot of cash back in your pocket. However, you’ll only get the highest rewards rate if you’re a PenFed Honors Advantage member or have performed military service, and there are other cash-back cards available with a 2% rewards rate that don’t have those restrictions.


Rewards

2% cash back on all purchases for PenFed Honors Advantage Members, 1.5% cash back on all purchases made with your card


Intro offer

$100 statement credit offer when you spend $1,500 in the first 90 days from account opening


Recommended Credit

Good to Excellent


Regular APR

17.99% APR on balance transfers, 16.49% to 17.99% Variable APR on purchases


Intro APR

0% balance transfers promo APR for 12 months made in the first 90 days after account opening, 3% fee applies to each transaction

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The no-annual-fee PenFed Power Cash Rewards Visa Signature® Card earns up to 2% cash back on all purchases, so it’s a decent option for Pentagon Federal (PenFed) Credit Union members (anyone can join) looking to earn straightforward rewards without category restrictions. However, there are plenty of other no-annual-fee cards available with higher rewards, more benefits, and larger welcome bonus offers.

Review: Is the PenFed Power Cash Rewards Visa Signature Card the best credit card for you?

If you bank with PenFed Credit Union and you’re looking for a card that earns flat-rate rewards, the PenFed Power Cash Rewards Visa Signature® Card is worth considering. To qualify for this card, you’ll need to be a PenFed member, but anyone can open an account with a $5 minimum deposit.

This card comes with a $100 statement credit offer when you spend $1,500 in the first 90 days from account opening. Plus, regular PenFed members earn 1.5% cash back on all purchases, and PenFed Honors Advantage members earn an additional 0.50% cash back (a total earning rate of 2% cash back). But not everyone is eligible to qualify for Honors Advantage program, so if you’re not a member already, you might want to consider a different no-annual-fee cash-back card with higher rewards rates.

Cardholders also get solid benefits (such as travel accident insurance and access to the Visa Signature Luxury Hotel Collection), as well as flexible ways to redeem rewards. There are also no foreign transaction fees, which makes it a decent card to travel with. 

In addition, the PenFed Power Cash Rewards Visa Signature® Card has a 0% balance transfers promo APR for 12 months made in the first 90 days after account opening, 3% fee applies to each transaction (then a 17.99% APR on balance transfers, 16.49% to 17.99% Variable APR on purchases), which can benefit folks looking to pay down debt without incurring higher interest.

However, if you’re to looking to pay off larger purchases over multiple billing cycles or pay down credit debt, you might prefer the PenFed Gold Visa® Card. Although it doesn’t earn rewards or offer an intro bonus, the card does have a 0% intro APR on purchases for 15 months from account opening and on balance transfers for 15 months on transfers made in the first 90 days after account opening (3% fee applies to each transfer), followed by a 17.99% APR on balance transfers, 11.49% to 17.99% Variable APR on purchases . 

Another no-annual-fee card to consider is the Wells Fargo Active Cash® Card. It earns unlimited 2% cash rewards on purchases and a $200 cash rewards bonus after spending $1,000 in purchases in the first 3 months from account opening. Plus, it comes with a 0% intro APR on purchases and qualifying balance transfers for 15 months from account opening (then a 17.99%, 22.99%, or 27.99% Variable APR).

Compare PenFed Power Cash with the competition

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Earn unlimited 2% cash rewards on purchases.

$200 cash rewards bonus after spending $1,000 in purchases in the first 3 months from account opening

Earn 5% cash back on Chase travel purchased through Ultimate Rewards®, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.

1.5% cash back in addition to regular earning on everything you buy up to $20,000 spent in the first year (worth up to $300 cash back)

2% cash back on all purchases for PenFed Honors Advantage Members, 1.5% cash back on all purchases made with your card

$100 statement credit offer when you spend $1,500 in the first 90 days from account opening

How to earn rewards with the PenFed Power Cash Rewards credit card

The PenFed Power Cash Rewards Visa Signature® Card has a simple reward earning rate of 1.5% cash back on all purchases, with no caps. If you’re a PenFed Honors Advantage member you can earn an additional .50% cash back on all purchases (a total of 2% cash back). Your rewards won’t expire as long as your account is active. 

If you spend $3,000 monthly with your PenFed Power Cash Rewards Visa Signature® Card, you’ll earn $45 monthly rewards or $540 annually (1.5% cash back rate). PenFed Honors Advantage members with the same total monthly expense will earn $60 in monthly rewards or $720 annually (2% cash back rate). 

How to use rewards from the PenFed Power Cash Visa Signature credit card

The PenFed Power Cash Rewards Visa Signature® Card allows cardholders to redeem rewards as a statement credit or a deposit into an eligible PenFed Checking or Share account. You can also schedule monthly redemptions into an account of your choosing from another financial institution.

There’s no minimum redemption amount. 

PenFed Power Cash Rewards card benefits and features

Emergency card replacement and cash disbursement

In the case of an emergency, you’ll have access to card replacement and disbursement services 24/7.

Entertainment offers and upgrades

When you use your PenFed Power Cash Rewards Visa Signature® Card to pay for eligible entertainment services, you’ll be eligible to receive preferred event access, upgrades, and savings.

Visa Signature Luxury Hotel Collection

The PenFed Power Cash Rewards Visa Signature® Card gives cardholders access to worldwide travel benefits, including special offers and upgrades at over 900 properties from the Visa Signature Luxury Hotel Collection.

$o liability policy

You won’t be held responsible for unauthorized purchases on a lost or stolen PenFed card. You must notify PenFed immediately of any unauthorized use. You can submit a claim at 800-247-5626. 

Shopping discounts

When you use your PenFed Power Cash Rewards Visa Signature® Card at select retailers, you become eligible to receive discounts at stores and online merchants. 

Sports special offers and discounts

The PenFed Power Cash Rewards Visa Signature® Card gets you offers on golf experiences, event tickets, and other sports events. You’ll also be able to save on premium ground transportation with Silvercar Audi rentals and golf benefits at over 95 courses worldwide with Troon Rewards. 

Fine wine and food offers

You’ll get year-round benefits on culinary items when you use your PenFed Power Cash Rewards Visa Signature® Card, such as special access and savings at more than 50 Sonoma Country wineries. 

Purchase security

You can receive replacements, repairs, or reimbursements on eligible net purchases bought with your PenFed Power Cash Rewards Visa Signature® Card for up to $500 per claim for 90 days from the date of purchase. This service covers personal property damaged by occurrences, such as fire, lightning, vandalism, theft, and more. You must submit a claim to receive this benefit. 

Roadside dispatch

You can get 24/7 pay-per-use roadside assistance for towing, tire changes, jump starts, lockout services, and more.

Travel accident insurance

The PenFed Power Cash Rewards Visa Signature® Card gives you coverage in case of accidental death or dismemberment when you charge your entire travel fare to your eligible PenFed card. 

Travel and emergency assistance services

You’ll receive help with medical, legal, and travel services while traveling. Call the 24-hour Benefit Administrator at 800-397-9010. Spouses and children of the primary cardholder are eligible to receive these services as well. Remember that you are still responsible for the cost of any actual medical, legal, transportation, cash advances, or other provided services. 

Visa Signature concierge

You can call the 24/7 Visa Signature concierge service at 800-953-7392 for assistance with travel bookings, obtaining popular sports and entertainment tickets, restaurant reservations, golf bookings, and more. 

PenFed Credit Union PenFed Power Cash Rewards Visa Signature® Card

PenFed Power Cash Rewards Visa Signature® Card


Intro offer

$100 statement credit offer when you spend $1,500 in the first 90 days from account opening


Rewards

2% cash back on all purchases for PenFed Honors Advantage Members, 1.5% cash back on all purchases made with your card

PenFed Credit Union PenFed Power Cash Rewards Visa Signature® Card

PenFed Power Cash Rewards Visa Signature® Card


Intro offer

$100 statement credit offer when you spend $1,500 in the first 90 days from account opening


Rewards

2% cash back on all purchases for PenFed Honors Advantage Members, 1.5% cash back on all purchases made with your card

On PenFed Credit Union’s website

If you bank with PenFed credit union (or are willing to join), this card could put a lot of cash back in your pocket. However, you’ll only get the highest rewards rate if you’re a PenFed Honors Advantage member or have performed military service, and there are other cash-back cards available with a 2% rewards rate that don’t have those restrictions.


Rewards

2% cash back on all purchases for PenFed Honors Advantage Members, 1.5% cash back on all purchases made with your card


Intro offer

$100 statement credit offer when you spend $1,500 in the first 90 days from account opening


Recommended Credit

Good to Excellent


Regular APR

17.99% APR on balance transfers, 16.49% to 17.99% Variable APR on purchases


Intro APR

0% balance transfers promo APR for 12 months made in the first 90 days after account opening, 3% fee applies to each transaction

Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options.

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Fees and costs

The PenFed Power Cash Rewards Visa Signature® Card doesn’t charge an annual fee, a foreign transaction fee, or a cash advance fee. The card has a 0% balance transfers promo APR for 12 months made in the first 90 days after account opening, 3% fee applies to each transaction (then a 17.99% APR on balance transfers, 16.49% to 17.99% Variable APR on purchases). 

You can be charged a 3% balance transfer fee, a late payment fee (up to $28), and a returned payment fee (up to $25). 

PenFed Power Cash Rewards vs other no-annual-fee PenFed cards

PenFed Power Cash Rewards vs other no-annual-fee cash-back cards

PenFed Power Cash Rewards Visa Signature card frequently asked questions (FAQ)

If you’re looking for a decent no-annual-fee cash-back credit card that earns simple flat-rate rewards and are willing to join PenFed credit union, the PenFed Power Cash Rewards Visa Signature® Card is worth considering. However, the highest rewards rate is only available to PenFed Honors Advantage members. If that doesn’t apply to you, there are plenty of other cards with higher rewards, more benefits, and larger welcome bonuses. 

You need good to excellent credit to qualify for the PenFed Power Cash Rewards Visa Signature® Card, which means a FICO score of at least 670.

If your credit score isn’t in the good to the excellent range yet, there are other no-annual-fee cash-back cards you may be eligible for to help build your score. 

Yes, Zelle is available in the PenFed mobile app and online banking website. 



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