The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author’s alone.
Learn more about this card and its features here.
The PenFed Power Cash Rewards Visa Signature® Card allows cardholders to earn a standard flat-rate of 1.5% unlimited cash back on all purchases. However, if you’re part of the PenFed Honors Advantage program, you can earn an increased rate of 2% cash back on all purchases. It currently offers a sign-up bonus of $100 statement credit when you spend $1,500 in the first 90 days. Those looking for generous rewards, are a PenFed Credit Union member, and are looking for a card with no annual fee should read on to see what this card can do for you.
PenFed Power Cash Rewards Visa Card
Why You Should Apply for This Card:
Welcome Offer: Earn a $100 bonus after spending $1,500 in purchase transactions within 3 months of account opening. Compared to the best sign-up bonuses on cash back cards, this is a relatively modest amount. However, if you can take advantage of the 2% cash back opportunity, it’s a pretty impressive bonus.
Earn Unlimited 1.5% Cash Back: Earn an 1.5% unlimited cash back on all purchases. There’s no limit to how much you can earn, but take note that rewards expire after 5 years. You can only redeem your rewards as a statement credit or deposit in PenFed account unless you are an Honors Advantage member.
Earn 2% Cash Back with PenFed Honors Advantage: If you’re a PenFed Honors Advantage member, you can earn an increased 2% cash back instead. To join, you must have military service (active, reserve, retired, or honorably discharged) or have and maintain a PenFed Access America Checking Account. This account has no monthly fee with daily balance or monthly direct deposit of $500 or more and requires a $25 minimum opening deposit. As long as the account is open, you qualify for the 2% cash back.
Other PenFed Power Cash Rewards Card Benefits:
No Annual Fee: Maximize your cash back earnings without having to pay an annual fee.
No Foreign Transaction Fee: Use this card while traveling outside the U.S. to continue earning cash back without paying a foreign transaction fee.
Visa Signature Benefits: As part of the Visa Signature collection, the PenFed Power Cash Rewards Visa Signature® Card offers travel and purchase benefits, such as roadside dispatch, lost luggage reimbursement, travel and emergency assistance services, auto rental collision damage waiver, and a variety of discounts and special offers for shopping, travel, sporting events, and entertainment through the Visa Signature website.
Bottom Line:
The PenFed Power Cash Rewards Visa Signature® Card offers a competitive 1.5% unlimited cash back on all purchases with no annual fee. PenFed Honors Advantage members can get up to 2% cash back on all purchases, which makes this card even better. Plus, there is currently a $100 sign-up bonus if you make $1,500 in purchases within the first 90 days. To apply for this card, a PenFed Credit Union membership is required, but it’s also open to anyone willing to donate $17 to the National Military Family Association (NMFA). If you don’t have the necessary qualifications to get the 2% rewards rate, consider applying for the Citi® Double Cash Card instead. Or check out our complete list of credit card bonus promotions, here on HMB.
Learn more about this card and its features here.
Many of the listings that appear on this website are from companies which we receive compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). The site does not review or include all companies or all available products.
Leave a Reply