Offer value details
PenFed describes the Power Cash Rewards Visa Signature Card as a no-annual-fee cash back credit card with a $100 statement-credit offer, 1.5% cash rewards on net new qualified purchases, a 2% Honors Advantage rate for qualifying members, redemption options through PenFed online or mobile access, and membership plus credit approval requirements.
Qualification requirements
The opening statement credit requires an issued and approved account and $1,500 in purchase transactions within 90 days of account opening. PenFed says cash advances, credit card checks, and balance transfers do not qualify as purchase transactions and each account is eligible for one $100 statement credit.
Fees and costs
PenFed's summary terms list no annual fee, no minimum interest charge, no foreign transaction fee, no cash-advance fee, no over-the-credit-limit fee, purchase and cash-advance APR of 17.99%, a 0% introductory APR for 12 months on balance transfers made in the first 60 days, a 3% balance-transfer fee, and late or returned-payment fees that can apply.
Availability
PenFed membership and credit approval are required. PenFed says guest applicants can apply and PenFed will create membership during the application process. If an applicant does not qualify for the Visa Signature card, PenFed says the applicant will automatically be considered for the Power Cash Rewards Visa Card, which has the same cash back on net purchases but different credit availability and benefits.
What to verify
- The product page has some dynamically rendered fields, so this public profile relies on official PenFed disclosure, summary-terms, pricing-list, and program-terms documents for exact numbers.
- The $100 statement credit requires $1,500 in qualifying purchase transactions within 90 days, and excluded activity does not count.
- The 2% cash rewards rate requires Honors Advantage eligibility; otherwise the program terms list 1.5% cash rewards.
- APR, balance-transfer fees, late-payment fees, returned-payment fees, and loss of grace period on balance-transfer scenarios can outweigh rewards.
- PenFed may modify or terminate the rewards program, and rewards can expire after account closure, default, fraud, misuse, or program termination conditions.
Confirm current provider terms
Rates, rewards, fees, qualification rules, eligibility, and deadlines can change. Review the provider terms before applying.