PenFed Power Cash Rewards Visa Signature Card
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Affiliate link, we may earn a commission. Terms, rates, and sign-up bonuses are set by the issuer and can change. See the issuer site and our advertiser disclosure.
View OfferEarn a $100 statement credit after spending $1,500 in purchase transactions within 90 days of account opening; cash advances, credit card checks, and balance transfers do not qualify as purchase transactions; each account is eligible for one $100 statement credit; allow up to 4 weeks after meeting the spend threshold for the credit to post; the bonus is subject to credit approval and standard PenFed credit card account terms (per issuer disclosure on the Power Cash Rewards Visa Signature product page, confirmed via web.archive.org snapshot of penfed.org dated December 2025)
Benefits and fees last verified May 2026against the issuer's published terms.
Earning Rates
Important considerations
- Rewards do not transfer to travel partners
Rewards are fixed cash back with no airline or hotel transfer partners, so you cannot convert them into points for premium cabin or outsized award value.
Based on this card's terms last verified May 2026.
Earning rates
2- 2%everything else
2% unlimited cash back on all purchases for PenFed Honors Advantage members - no categories to track, no quarterly enrollment, no spend caps, and no rotating bonus categories; this 2% flat earn rate puts the card head-to-head with the Citi Double Cash, Wells Fargo Active Cash, and Fidelity Rewards Visa Signature as a top-tier no-annual-fee 2% cash back card (and beats them on no-foreign-transaction-fee compared to several competitors)
- 1.5%travel
1.5% unlimited cash back on all purchases for non-Honors Advantage cardmembers - this is the default rate for members who do not maintain a qualifying PenFed checking account or military affiliation; the 1.5% tier matches the base earn rate of cards like the Chase Freedom Unlimited and Capital One Quicksilver but without the additional 5% Chase Travel / Lyft category bonuses Chase layers on top
Statement credits
1- $25Visa Signature Luxury Hotel Collection
Visa Signature Luxury Hotel Collection: complimentary in-room Wi-Fi, $25 food/beverage credit per stay, room upgrade at check-in subject to availability, and 4 PM late checkout when available at participating luxury properties (Visa Signature tier only)
Perks & memberships
4- No foreign fees$0 foreign transaction fee on all purchases made outside the United States or in a foreign currency - rare on a no-annual-fee cash back card and a major structural advantage vs. the Citi Double Cash (3% FX fee), Wells Fargo Active Cash (3% FX fee), and Chase Freedom Unlimited (3% FX fee), making the PenFed Power Cash Rewards one of the only $0 AF 2%-tier cards usable abroad without a currency-conversion penalty
- Card networkVisa Signature network benefits when your approved credit line is $5,000 or more (per PenFed's official disclosure: 'Your credit line is used to determine if your account qualifies for Traditional or Signature benefits. If your credit line is $5,000 or more then it qualifies for Signature benefits.'); below the $5,000 credit line threshold the card is issued on the standard Visa Traditional/Platinum tier without Signature-level perks
- ConciergeVisa Signature Concierge: 24/7 personal assistant service for travel, dining, entertainment, and shopping requests (available on Visa Signature-tier accounts with $5,000+ credit line)
- Card networkVisa Signature Offers: ongoing rotating Visa-branded merchant promotions, dining benefits, and entertainment discounts at participating partners (Visa Signature tier only)
Travel & purchase protections
1- $0 fraud liability for unauthorized transactions per Visa's Zero Liability Policy; 24/7 fraud monitoring by PenFed with transaction alerts available via the PenFed mobile app and online banking
More benefits & fine print (6)ShowHide
- PenFed Honors Advantage Program qualification requires either (1) active military service, Reserves/National Guard membership, honorably discharged U.S. military veteran status, or military retiree status; OR (2) the cardmember being the primary owner on both the credit card account AND a qualifying PenFed checking account (Access America Checking or Free Checking, with Free Checking requiring a $500 daily balance OR $500/month direct deposit to maintain Honors Advantage eligibility)
- PenFed membership required - you must be a member of Pentagon Federal Credit Union to hold this card; membership is open to anyone in the United States and can be opened during the credit card application process for new applicants (no military or government affiliation required for credit union membership itself, despite the credit union's military heritage)
- Grace period on purchases: at least 25 days after the close of each billing cycle; no interest is charged on purchases if you pay the entire account balance (including balance transfers and cash advances) by the due date each month
- Cash back rewards do not expire as long as the account remains open and in good standing; rewards are earned at a 1:1 ratio (e.g., 2% Honors Advantage members earn $0.02 per $1 of qualifying purchase spend; 1.5% standard members earn $0.015 per $1)
- Cash back excludes cash advances, cash-like transactions, credit card checks, balance transfers, and account fees from earning cash rewards (per PenFed disclosure footnote: 'Cash advances, cash-like transactions, credit card checks, balance transfers, and account fees are excluded from earning cash rewards')
- Online and mobile account management via the PenFed mobile app (iOS and Android) and penfed.org online banking; supports card lock/unlock, transaction alerts, statements, payment scheduling, and rewards balance viewing
Before you decide, weigh alternatives
This is already one of the lower-fee cards in its category. Compare it side by side to confirm it is the right fit for how you spend.
How we verified this card (3 sources)ShowHide
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How to Earn the Bonus
Spend $1,500 in the first 3 months to earn the $100 statement credit bonus.
See the Current Offer
Earn $100 statement credit
View OfferAffiliate link, we may earn a commission. Terms, rates, and sign-up bonuses are set by the issuer and can change. See the issuer site and our advertiser disclosure.
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