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Power Cash Rewards VISA Signature® Credit Card

Power Cash Rewards VISA Signature® Credit Card was ranked on Money.com as one of this year's top credit cards. Read more from nationally recognized credit card expert, Jason Steele or see if you qualify by clicking "Apply Now" below.
Best for
simple 1.5% Cash Back
Our Partner
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PenFed Power Cash Rewards Visa Signature® Credit Card

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Intro Bonus
Earn $100 Statement Credit when you spend $1,500 in the first 90 days.
Annual Fee
$0
Credit Level
good to very good
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From
The Expert
Jason Steele
Why Apply?
This card offers a decent cash back rate and a $100 statement credit. You also get to be part of PenFed, which members love.
I Think You'll Love
Earning 1.5% cash back on all purchases, with no limits and few fees.
Pros
  • 2% cash back on all purchases through the PenFed Honors Advantage program
  • $100 statement credit.
  • 12 months of 0% APR financing on balance transfers.
  • No annual fee, foreign transaction fees or cash advance fees.
Cons
  • Intro balance transfer rate only applies to transfers completed by March 31, 2022
  • Lower cash back rates if you don’t have a PenFed checking account. 
  • Higher welcome bonuses and longer promotional financing offers are available elsewhere.
     
ABOUT THIS CARD

When your goal is to earn as much cash back as possible, the PenFed Power Cash Rewards Visa Signature® Card is a good place to start. This card offers you 1.5% cash back on all purchases, or 2% when you are a PenFed Honors Advantage member, which you get if you also have a checking account with PenFed or military service. There are no limits to the cash back you can earn and no rotating spending categories. This card also offers you a $100 statement credit when you spend $1,500 within 90 days of account opening. It also includes 12 months of 0% APR financing on balance transfers, with a 3% balance transfer fee. 

PenFed is the Pentagon Federal Credit Union, which is the second largest federal credit union in the United States. Additional benefits include no annual fee, no cash advance fee and no foreign transaction fees. Cardholders must join the Pentagon Federal Credit Union, but there is no military service required. 

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4 things informed consumers need to know:
  1. Get enough credit cards to keep the balance on each one below 30% of its limit.
  2. Pay on time, use cards sparingly and keep your accounts open.
  3. Don’t apply for too many cards at once. Do 1 today, again in 6 months, etc.
  4. More cards mean a wider variety of points and benefits.
Jason steele
The Expert
Jason Steele

Analysis is brought to you by nationally recognized credit card expert Jason Steele, who has appeared in publications such as:

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Details and conditions for each credit card offer are available on the online credit card application page. Our team makes reasonable efforts to ensure the information on our page is accurate, but this information is presented without warranty and some of the offers on this page may no longer be available through our site. You can click on the “Learn More” or “Apply Now” button for each credit card offer to continue to the issuer’s web site and review the terms and conditions on their site. Offers, details, and other information is subject to change, and the terms displayed may not be available to all consumers. ConsumersAdvocate has partnered with CardRatings for some of our credit card offerings. ConsumersAdvocate and CardRatings may receive a commission from card issuers.

Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.