PenFed Power Cash Rewards Visa Signature® Credit Card
- 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.
- 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.
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.
