Compare Cash Back Credit Cards

Compare credit cards rewards and other benefits to understand what sets PenFed Power Cash apart and why it stands out among the rest.

PenFed Power Cash Rewards	Bank Of America Unlimited Cash Rewards	Capital One Quicksilver Rewards	Chase Freedom Unlimited
Variable APR capped at %
Yes*	No	No	No
Earn
% unlimited cash back on all purchases for PenFed Honors Advantage Members^ƚƚ and % cash back for others	Earn 2% cash back on purchases for the first year. Thereafter, earn unlimited 1.5% cash back	Earn unlimited 1.5% cash back on every purchase, every day	Earn unlimited 1.5% cash back or more on all purchases, like 3% on dining and drugstores and 5% on travel purchased through Chase
Welcome Bonus Offer
Yes^ƚ	Yes	Yes	Yes
No Annual Fee
$0	$0	$0	$0
Cell Phone Protection
Yes	No	No	No
Foreign Transaction Fees
None	3% of the U.S. dollar amount of each transaction made in a foreign currency	None	3% of the amount of each transaction in U.S. dollar
Cash Back Categories to Track
No	No	No	Yes
Unlimited Cash Back
Yes	Yes	Yes	Yes
Rewards Expiration
No	No	No	No
Interest And Fee Information Apply for your Power Cash Rewards card Member Log In for a faster experience. Your info will be pre-filled. I’m a member Guest Apply now and we'll create your membership during the application process. I’m not a member

Data sourced directly from each lender listed: Bank of America, Capital One, and Chase, and are current as of December 11, 2025.

Disclosures

Rates are based on an evaluation of applicant credit. Your actual APR will be disclosed at the time of credit approval. Not all applicants will qualify for the lower rate.

Rate and offers current as of Rate Month and are subject to change.

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Accounts that are issued and approved will receive a $100 statement credit upon spending $1500 in purchase transactions within 90 days of account opening. Cash advances, credit card checks, and balance transfers do not qualify as purchase transactions. Each account is eligible for 1 statement credit of $100. Please allow 4 weeks after spending $1500 to receive the statement credit.

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To qualify for the PenFed Honors Advantage Program you must 1) be in an active military service status, a member of the Reserves or National Guard, an honorably discharged U.S. Military Veteran or retired from such service OR 2) the member must be the primary owner on both the credit card and checking accounts of any existing open PenFed product, excluding PenCheck Limited accounts, or open a new Access America Checking or Free Checking account with PenFed. Members with a qualifying Free Checking account must also 1) maintain a minimum $500 daily balance OR 2) set up monthly direct deposits of $500 or more in order to maintain Honors Advantage Eligibility. A minimum balance or direct deposit is not required to maintain a Free Checking account.

Refer to the Program Rules, Terms and Conditions (PDF) and the Signature Program Benefits (PDF) for detailed information.