- Reward Rates
- 2% Earn 2% cash back through the PenFed Honors Advantage program
- 1.5% 1.5% unlimited cash back on all purchases
- Balance Transfers Intro APR
- 0% for 12 months
- Purchases Intro APR
- Regular APR
- 14.99% - 17.99% Variable
- Annual Fee
- $100 statement credit after spending $1,500 in purchase transactions within the first 90 days of account opening
- 0% promotional rate for 12 months on balance transfers made between now and September 30, 2020. After that, the APR for the unpaid balance and any new balance transfers will be a non-variable rate of 17.99%. The 3% balance transfer fee per transaction is subject to credit approval. If you take advantage of this balance transfer, you will immediately be charged interest on all purchases made with your credit card unless you pay the entire account balance, including balance transfers, in full each month by the payment due date.
- Rate and offers current as of August 1, 2020 and are subject to change.
- 1.5% unlimited cash back on all purchases. Flexible cash redemption options (Power Cash statement credit or cash-out to a checking or savings account). No caps, limits or category restrictions on cash rewards. Earn 2% cash back through the PenFed Honors Advantage program.
- No annual fee
- No foreign transaction fees
- No cash advance fee
- Chip and Contactless ‘Tap to Pay’ enabled for added security, ease and convenience at the point of sale
- Click and Pay eligible, via Secure Remote Commerce, so you can enjoy easy and secure online buying checkout
- Purchase variable rate as low as 14.99% APR and capped at 17.99%
4.1 out of 5
Our take: The PenFed Power Cash Rewards Visa Signature card, a new addition to the very limited category of 2 percent cash back cards, combines generous rewards with a low APR.