If you use the PenFed Credit Union for your regular banking or are a military member, this card is best suited for you. This is our PenFed Power Cash Rewards Visa Signature card review.

If you are the kind of person that does not like to go through the hassle of dealing with multiple rewards rates, this card makes things simple for you.

Plus, you can earn a $100 statement credit after you spend $1,500 within the first 90 days from account opening.

The PenFed Power Cash Rewards Visa Signature card offers 2% cash back on all purchases for members of the PenFed Honors Advantage program. 

2% is one of the highest cash-back rates you can find in the market. Non-members also earn cash back, although at a lower rate of 1.5%.

The card allows you to redeem your rewards in a number of ways. You can redeem them for statement credits which the issuer posts to your credit card account.

Or, if you prefer, you can deposit into your checking or share account, as well as transfer to your account with another financial institution.

You do not need to worry about minimum redemption amounts. The issuer does not specify any minimums in the program guide.

Also, your rewards never expire for as long as your account is active and in good standing.

You can maximize your rewards by becoming a PenFed Honors Advantage member. Members of the military have automatic PenFed Honors Advantage membership.

If you are not a member of the military, you can gain membership status by opening a checking account with the credit union. 

Just make sure you meet their requirements so that you can waive its monthly fee. If you do not do that, the monthly fee will most likely eat up all the rewards you have earned.

Now that you are familiar with this credit card’s ins and outs, how about a comparison? Our PenFed Power Cash Rewards Visa Signature card review would not be complete without one.

So have a look at the list of benefits and disadvantages we have prepared below.

The PenFed Power Cash Rewards Visa Signature card requires its applicants to have a credit score of 800 to 850 points. That is a high credit score that falls within the category of Excellent credit.

After reading this PenFed Power Cash Rewards Visa Signature card review, what is your verdict? Is this a good card for you? If so, you might want to apply for it.

In the link below we have prepared a step-by-step guide to its application. Read it and learn how to get your card today!