PenFed Power Cash Rewards Visa Signature® Card

PenFed Power Cash Rewards Visa Signature® Card

on Pentagon Federal Credit Union's website

PenFed Power Cash Rewards Visa Signature® Card

PenFed Power Cash Rewards Visa Signature® Card

PenFed Power Cash Rewards Visa Signature® Card

on Pentagon Federal Credit Union's website

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Card details

  • Rate and offers current as of December 1, 2021 and subject to change.

  • $100 statement credit after spending $1,500 in purchase transactions within the first 90 days of account opening

  • 2% cash back on all purchases through the PenFed Honors Advantage program

  • 1.5% unlimited cash back on all purchases

  • Flexible cash redemption options (Power Cash statement credit or cash-out to a checking or savings account)

  • No caps, limits or category restrictions on cash rewards

  • No annual fee

  • No foreign transaction fees

  • No cash advance fee

  • Chip and Contactless ‘Tap to Pay’ enabled for added security, ease and convenience at the point of sale

  • Click and Pay eligible, via Secure Remote Commerce, so you can enjoy easy and secure online buying checkout

  • Digital wallet capable

  • Purchase variable rate as low as 14.99% APR

  • 0% promotional rate for 12 months on balance transfers made between now and March 31, 2022. After that, the APR for the unpaid balance and any new balance transfers will be a non-variable rate of 17.99%. 3% balance transfer fee per transaction. Subject to credit approval. If you take advantage of this balance transfer, you will immediately be charged interest on all purchases made with your credit card unless you pay the entire account balance, including balance transfers, in full each month by the payment due date.

  • Cash Advance APR 17.99%

Rates, fees & offers

  • Annual fee

    $0

  • Rewards rate

    1.5%

  • Bonus offer

    $100 statement credit after spending $1,500 in purchase transactions within the first 90 days of account opening

  • Intro APR

    0% promotional rate for 12 months on balance transfers made between now and March 31, 2022

  • Ongoing APR

    APR: 14.99%-17.99% Variable APR

  • Balance transfer fee

    3%

  • Foreign transaction fee

    None

Recommended credit score

Compare to other cards

NerdWallet rating 
NerdWallet rating 
NerdWallet rating 
Annual fee

$0

Annual fee

$95

Annual fee

$0 intro for the first year, then $95

Regular APR

14.99%-17.99% Variable APR

Regular APR

15.99%-22.99% Variable APR

Regular APR

13.99%-23.99% Variable APR

Rates & Fees

Intro APR

0% promotional rate for 12 months on balance transfers made between now and March 31, 2022

Intro APR

N/A

Intro APR

0% intro APR on Purchases for 12 months

Recommended Credit Score
Recommended Credit Score
Recommended Credit Score

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NerdWallet review

By Melissa Lambarena

Rating details

4.3

Editor's overall rating

Pros and cons

Pros
  • No annual fee

  • High rewards rate

  • New cardholder bonus offer

  • Intro APR period

  • No foreign transaction fees

Cons
  • Must be a member/customer

  • Requires excellent credit

To qualify for the PenFed Power Cash Rewards Visa Signature® Card, you’ll need a PenFed membership, but it’s not difficult to join. You just have to fill out an application and make a $5 deposit into a PenFed savings account.

The card earns 1.5% back on all purchases, and it has a $0 annual fee. If you’re part of the Honors Advantage program, you may be eligible for an additional 0.5% back, bringing your earnings rate up to 2%. To qualify for the Honors Advantage program, you must have and maintain a PenFed Access America Checking Account or meet the military service criteria.

For more information, see a closer look at this card.