What is the average credit score needed to get approved for the Power Cash Rewards Visa Signature® Card?

You need to have an excellent credit score to get approved for the Power Cash Rewards Visa Signature® Card.

Does the Power Cash Rewards Visa Signature® Card report to all three credit bureaus?

Yes, PenFed reports to all three credit bureaus.

Is the Power Cash Rewards Visa Signature® Card application process lengthy? Can you pre-qualify?

Yes, you can pre-qualify if you are already a credit union member. The process can be lengthy for non-members, as they will need to apply for a credit union checking or savings account.

What information is needed to apply for the Power Cash Rewards Visa Signature® Card?

You will need to provide your personal information, contact information and financial information to apply. This includes your name, date of birth and Social Security number, as well as your address, phone number and annual income

Does the Power Cash Rewards Visa Signature® Card have good customer service or satisfaction?

It can be difficult to gauge this issuer’s customer service without looking at customer satisfaction scores. However, Power Cash Rewards Visa Signature® Card customer service is available around the clock, and you can usually find answers to common questions in their <a href="https://home.penfed.org/help/s/topic/0TO4p000000cWXXGA2/credit-cards" target="_blank">product knowledge base</a>.

Does the Power Cash Rewards Visa Signature® Card have a mobile app or the option to pay or manage your account online?

Yes. Click-to-pay technology and digital wallet are some of the card’s features that let you shop online.

Does the Power Cash Rewards Visa Signature® Card raise credit limits automatically or charge for limit increases?

PenFed regularly reviews its customers' accounts and increases their credit limits automatically. Note that requesting a credit limit increase may result in a temporary dip in your credit score.

Does the Power Cash Rewards Visa Signature® Card offer the option to freeze your credit/account or have other security features?

If you suspect your card has been hacked, PenFed allows you to freeze your account without affecting your credit score. The card also comes with Zero Liability Protection, which ensures that you won’t be held liable for unauthorized transactions.

Does PenFed Credit Union offer other credit cards besides the Power Cash Rewards Visa Signature® Card?

PenFed also offers the Pathfinder Rewards Visa Signature Card , which lets PenFed members earn 4X points on travel purchases.

Power Cash Rewards Visa Signature® Card Review

The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.

Power Cash Rewards Visa Signature® Card
A good no annual fee balance transfer card with cash back
- 1.5% – 2% Cash BackRewards Rate
- 17.99% VariableAPR
- $0Annual Fee
- Good–ExcellentRecommended Credit
We think the Power Cash Rewards Visa Signature® Card might work well for people who don’t want to pay annual fees and wish to earn cash back. If you’re a PenFed Honors Advantage member, you earn 2% cash back on all purchases. It changes to 1.5% for non-members. If you spend $1,500 in the first 90 days, you receive a $100 bonus statement credit.
You get to redeem the cash back you earn as statement credit, as a deposit into your into your PenFed Checking or Share account or as a scheduled monthly deposit into an account you hold with any other bank or credit union.
This card’s a 0% APR offer on balance transfers stays in place for 12 months. However, you need to pay a 3% balance transfer fee. Using this card outside of the U.S. is perfect given that it does not charge foreign transaction fees. It comes with no cash advance fees.
Pros
No annual fees
No foreign transaction fees
Bonus statement credit
Up to 2% flat cash back rewards rate
Balance transfer promo offer

Cons
Purchase variable APR of 17.99%
Credit union membership required
Balance transfer fee
No annual fees
2% cash back for PenFed Honors Advantage Members
1.5% cash back for non-members
$100 bonus offer statement credit on $1,500 spent within the first 90 days
0% balance transfer promo APR for 12 months, although a 3% fee applies on each transfer
Disclaimer: Credit card offers are constantly changing. We work hard to stay updated with the latest information, but the offers listed on our site may no longer be available.
Terms, rates and fees apply
Compare this credit card with other top-rated cards from our partners.

WHY TRUST OUR REVIEWS

MoneyGeek gathers credit card data and information, such as fees, benefits and reward structure, to review and compare them with competitors in the same credit card category. Our ranking methodology determines which cards are included in our "Best Cards Lists" every month to help you find the best credit card offers and benefits for your needs.

If you have varied spending habits and want to accumulate cash back without worrying about rotating categories, the Power Cash Rewards Visa Signature® Card is a solid credit card choice. Use this card to consolidate your debt and pay it off within the first year of account opening to take advantage of its promotional 0% APR balance transfer intro offer.

>>MORE: PENFED MEMBERSHIP REQUIREMENTS: HOW TO BECOME A PENFED MEMBER

Power Cash Rewards Visa Signature® Card Overview

If you’re a PenFed Honors Advantage Member, you earn 2% cash back on all purchases with the Power Cash Rewards Visa Signature® Card. All other PenFed members earn 1.5% cash back. You can redeem your Power Cash rewards in the following ways:

Quick Take

No annual fees
2% cash back for PenFed Honors Advantage Members
1.5% cash back for non-members
$100 bonus offer statement credit on $1,500 spent within the first 90 days
0% balance transfer promo APR for 12 months, although a 3% fee applies on each transfer

Important Card Details

Understanding the Power Cash Rewards Visa Signature® Card’s associated fees and charges in detail can help you determine if it’s right for your budget and needs.

The table below provides an overview of what you can expect from this card. We’ll also explain the most important fees, interest rates and associated charges.

Balance Transfer APR
The Power Cash Rewards Visa Signature Card offers 0% APR on balance transfers. After that date, all unpaid balances and new balance transfers will be subject to a non-variable APR of 17.99%. Users must pay a 3% fee on each balance transfer transaction.
Late Fees
Late payments on this card result in fees based on the remaining balance. A $20 late payment fee applies to balances less than $1,000, $25 for balances between $1,000 and $2,000 and $28 for balances more than $2,000.
Purchase APR
Your purchase variable APR is 17.99%, based on your creditworthiness and the market rate.

Additional Benefits

Other features and benefits of the Power Cash Rewards Visa Signature® Card include:

24/7 fraud protection: PenFed monitors your account for fraudulent activity and contacts you immediately.
EMV chip technology: This technology makes it more difficult for fraudsters to duplicate your data or clone your card.
Secure remote commerce: Confidently shop online with multiple layers of payment security on your Visa card.
Member discounts: PedFed members enjoy discounts on various home, auto, retail and financial products and services.
Visa signature discounts: This card’s affiliation with Visa provides additional discounts when buying goods and services from participating merchants.

How the Power Cash Rewards Visa Signature® Card Compares To Other Cards

The Power Cash Rewards Visa Signature® Card is a credit union cash back rewards card that offers a flat cash back rate and other PenFed and Visa features for cardmembers’ protection. See how it stacks up against another cash back credit card with similar offers.

How the Power Cash Rewards Visa Signature® Card Compares

Power Cash Rewards Visa Signature® Card

Recommended Credit: Good–Excellent
No Annual Fee
Variable APR: 17.99%
Rewards Rate: 2% cash back on all purchases for Honors Advantage Members; 1.5% for non-members
No Foreign Transaction Fees
Intro APR Offer: Promotional 12-month 0% APR on balance transfers, then a variable APR of 17.99%; 3% fee applies for each transaction
$100 bonus statement credit after spending $1,500 within the first 90 days
Best For: PenFed Honors Advantage Members who want cash back rewards

Capital One Quicksilver Cash Rewards Credit Card

Credit Score: Good–Excellent
No Annual Fee
Variable APR: 19.99% – 29.99% variable
Rewards Rate: 1.5% cash back on all purchases
No Foreign Transaction Fees
Intro APR Offer: 15-month 0% APR, then a variable APR of 19.24% – 29.24% after that
$250 early spend bonus after spending $1000 within the first 90 days
Best For: Cash back rewards for everyday spending

Frequently Asked Questions

*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
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MoneyGeek’s Take

Power Cash Rewards Visa Signature® Card Review

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>>MORE: PENFED MEMBERSHIP REQUIREMENTS: HOW TO BECOME A PENFED MEMBER