PenFed Power Cash Rewards® Visa Signature® Card
PenFed Credit Union
No Annual Fee
Annual Fee
visaGoodcash-backno-annual-feepremium6 months ago
Welcome Offer
$100Spend $1,500 within 3 months
OpenCard analysis
Is the PenFed Power Cash Rewards Visa Signature Card right for you?
The PenFed Power Cash Rewards Visa Signature is a no-annual-fee cash-back card from PenFed Credit Union. Its strongest everyday earning is 2% on All Purchases (Honors Advantage), with 1.5% on most other purchases. With no fee, the question is simply whether 2% on All Purchases (Honors Advantage) beats what your current card earns there.
Who it's for
- ✓ People who spend steadily on All Purchases (Honors Advantage), where it earns 2%
- ✓ Anyone who wants All Purchases (Honors Advantage) rewards without paying an annual fee
First-year value estimate
Welcome bonus
$100
Rewards on spending
$195
Annual fee (year 1)
−$0
Year 1, before credits
$295
Year two, without the welcome bonus: about $195 before credits ($195 in rewards minus the $0 fee).
Assumptions
- $3,000 a year in All Purchases (Honors Advantage) (2%) and $9,000 on everything else (1.5%) — $12,000 total, about $1,000 a month.
- Rewards valued at 1¢ per point or 1% cash back (cash-equivalent).
- Welcome bonus: the $100 bonus at face value ≈ $100.
- No annual fee in any year.
An illustration, not a promise of value. Change the spending to match yours; rewards are not cash until redeemed. Card data reviewed 2026-04-16.
How it compares
Blue Cash Everyday →
American Express, same $0 annual fee; earns 3% on gas.
AARP Essential Rewards Mastercard from Barclays →
Barclays, same $0 annual fee; earns 3% on gas stations and drugstores.
Athleta Encore Mastercard →
Barclays, same $0 annual fee; earns 5% on Gap Inc. brands (Athleta, Gap, Banana Republic, Old Navy).
Rules and gotchas
- The welcome bonus requires $1,500 in 3 months — roughly $500 a month. That fits inside the $1,000 a month in our illustration.
Frequently asked questions
- Does the PenFed Power Cash Rewards Visa Signature have an annual fee?
- No. Our record lists a $0 annual fee for the PenFed Power Cash Rewards Visa Signature.
- What does the PenFed Power Cash Rewards Visa Signature earn?
- 2% on All Purchases (Honors Advantage), 1.5% on All Purchases (standard), and 1.5% on other purchases.
- Is the PenFed Power Cash Rewards Visa Signature worth it in the first year?
- Using our illustration ($12,000 of yearly spending, $3,000 of it in All Purchases (Honors Advantage)), the first year comes out around $295 before credits, including a welcome bonus valued at $100. Year two drops to about $195 before credits.
- What credit do I need for the PenFed Power Cash Rewards Visa Signature?
- Our record lists "Good" credit as the typical target for the PenFed Power Cash Rewards Visa Signature. PenFed Credit Union makes the final decision based on its own criteria.
Earning Rates
2×All Purchases (Honors Advantage)2% cash back on all purchases for PenFed Honors Advantage members
1.5×All Purchases (standard)1.5% cash back on all purchases for non-Honors Advantage members
Other Benefits
Other Benefits
Balance transfer intro APR
0% intro APR for 12 months on balance transfers
Insurance
Rental InsuranceSecondary
Purchase Protection
Extended Warranty
Sources
- https://www.penfed.org/credit-cards/power-cash-rewards-visa
- https://www.nerdwallet.com/credit-cards/learn/penfed-power-cash-rewards-card
Last Updated: Apr 16, 2026