If you’re looking for a credit card, you’ll want to consider our new PenFed Power Cash Rewards Visa Signature® Card. The card offers straightforward rewards of 1.5% or 2% cash back on all purchases, with no reward limits. Military members and PenFed Access America Checking Account holders will get the biggest benefit from the card. With the Honors Advantage Program, these cardholders get the full 2% cash back. And as a bonus, you can currently get a $100 statement credit if you spend $1,500 in the first 90 days and 0% promotional APR on balance transfers for 12 months, subject to credit approval. A 3% balance transfer fee applies*.
Unlike many rewards cards, there are no points to keep track of and no complicated redemption process. Whenever you have more than $5 in rewards, you can get your cash as a statement credit, deposit to your PenFed account or ACH deposit to another financial institution. Cash back from your credit card every month — who wouldn’t want that?
On top of the rewards, the PenFed Power Cash Rewards Visa Signature® Card is a low-cost card that doesn’t pile on the fees. There’s no annual fee, no foreign transaction fee and a low variable interest rate starting at 9.24% APR. The card is of particular interest to international travelers, who will benefit from the lack of a foreign transaction fee as well as chip and pin security, which makes it easier to use overseas. With the PenFed Power Cash Rewards Visa Signature® Card, you’re getting a high-end rewards card at the price of a basic budget card.
If you’re shopping around for a new credit card, you’ll have trouble finding a better deal — and credit card industry experts agree. Because of the low APR and the high reward rate, both NerdWallet and MagnifyMoney.com say the PenFed Power Cash Rewards Visa Signature® Card is one of the best cash back cards on the market.
MagnifyMoney.com named the card the Best Cash Back Credit Card for Military, Best Cash Back Credit Card for Spending Abroad, and rates it a tie for Best Flat-Rate Cash Back Credit Card.
NerdWallet goes even further, saying, “This card isn’t just a standout among credit union credit cards — it’s a standout among credit cards, period.”
Interested in applying for the PenFed Power Cash Rewards Visa Signature® Card? Join PenFed – applying online is easy. If you don’t qualify through employment, association membership or military affiliation, you can join military charities such as the National Military Family Organization or Voices for America’s Troops to qualify. A $5 deposit is all it takes to open your share account.
If you aren’t a current or former member of the military and want to get 2% cash back through the Honors Advantage program, you just need to open an Access America Checking account.
To receive any advertised product, you must become a member of PenFed Credit Union. Rate and offers current as of April 1, 2017. Federally insured by NCUA.
*0% APR promo balance transfer rate for 12 months with 3% balance transfer fee, now through June 30, 2017. After that, the APR for the unpaid balance and any new balance transfers will be 9.24% to 17.99%. APR based on your creditworthiness and will vary with the market based on Prime Rate. Subject to credit approval.