PENFED POWER CASH REWARDS VISA CARD

PENFED HONORS ADVANTAGE

You make decisions on how to spend your money. We've made it easy for you to get more of it back.

 

PenFed Honors Advantage provides you with a total of

You receive all the features and protection of the PenFed Power Cash Rewards Visa® Card with 
1.5% cash back plus an additional .50%. This offer is as distinguished as our members,
and it’s an honor for us to provide this program to you.

HOW TO QUALIFY

To be eligible to participate in the PenFed Honors Advantage 2% cash back program, you must qualify through either one of the following:

completing a transaction on the cellphone

CHECKING ACCOUNT

Have and maintain a PenFed Access America Checking Account. You can open a new account, or use an existing account.*

In order to maintain the 2% cash back, you need to keep your checking account open.

soldier saluting

MILITARY SERVICE

Military service of the primary or joint applicant (active duty, reserve, honorably discharged, or retired).

Military members will receive the 2% cash back upon completion of the card application. No other action is needed. 

*Once you're approved for the PenFed Power Cash Rewards Card, you can open a checking account (except a PenCheck Limited Account) and receive an additional .50% reward increase. You must be primary owner on both credit card AND checking account to receive Honors Advantage bonus rewards. If no checking account is open at the time of the Power Card application, the .50% reward increase will be added within one business day of opening the checking account. 
You must maintain the checking account in order to receive the 2% cash back. If you close your checking account, then you’ll receive the standard 1.5% cash back. 
Refer to the PenFed Power Cash Rewards Visa® Rewards Program Terms and Conditions 

 

HOW THEY COMPARE

For example, if you spend $2,500 monthly you will earn $150 more annually at a rate of 2.0% versus the standard 1.5% cash back rate.

 

PenFed Power Cash Rewards Visa

Standard

Monthly Spend

$2,500

Cash Back Rate

1.5%

Monthly Cash Back

$37.50

Annual Cash Back

$450

PenFed Power Cash Rewards Visa

Honors Advantage

Monthly Spend

$2,500

Cash Back Rate

2.0%

Monthly Cash Back

$50.00

Annual Cash Back

$600

 

Cash advances, credit card checks, and balance transfers are excluded from earning cash back rewards.

 

Start your PenFed Power Cash Rewards Visa® Card application now!

APPLY NOW

Apply before becoming a member.

After your application, we’ll help you:

1. Discover you’re eligible to become a PenFed member

2. Open a Savings/Share Account and deposit at least $5

 

FREQUENTLY ASKED QUESTIONS

 

1. Do I need to be in the military to receive the additional .50% cash back?

2. I’ve reviewed the Power Cash Rewards Visa® Card application, and it only states 1.5% cash back. Why doesn’t it reflect 2% cash back?

3. I’m not in the military and I opened an Access America Checking Account to receive the 2% cash back. What happens if I close my checking account?

4. Is there a timeframe in which I must open a checking account in order to receive the PenFed Honors Advantage 2% cash back?

5. Can I earn the PenFed Honors Advantage 2% cash back on cash advances?

*Once you're approved for the PenFed Power Cash Rewards Card, you can open a checking account (except a PenCheck Limited Account) and receive an additional .50% reward increase. You must be primary owner on both credit card AND checking account to receive Honors Advantage bonus rewards. If no checking account is open at the time of the Power Card application, the .50% reward increase will be added within one business day of opening the checking account. 

You must maintain the checking account in order to receive the 2% cash back. If you close your checking account, then you’ll receive the standard 1.5% cash back. 

Refer to the PenFed Power Cash Rewards Visa® Rewards Program Terms and Conditions