Log into your PenFed Online account, your Rewards Balance will show up in green on the left-hand side under your Rewards-earning credit card account. Click on “Redeem Rewards” and you will be taken to the Rewards site where you can redeem your cash Rewards balance and setup auto redemption, or redeem your Points earned for travel, merchandise, gift cards, and other exciting items.

If you are earning Cash-Rewards on your PenFed Power Cash Rewards Visa® Card, you can setup automatic redemptions by following these simple steps:

1. Log into your PenFed Online account
2. Your Rewards Balance will show up in green on the left-hand side under your Rewards-earning credit card account.
3. Click on “Redeem Rewards” and you will be taken to the Rewards site
4. Click on “Redeem Rewards” again under the current cash Rewards balance
5. Click on “Set Up Auto Redemption” and choose your “from” and “to” accounts, review your selection and then click “confirm and set up”.

Your cash with ‘auto redemption’ can be redeemed as a statement credit to your credit card or deposited directly to your PenFed Checking or Savings account. The auto redemption amount is calculated using the balance on the 25th of each month.

If you selected a:

Statement Credit back to your Power Cash account: It will auto post to your account via the next statement cycle

Transfer to one of your PenFed deposit or savings accounts: It will post within two business days of the noted redemption date

Program Terms & Conditions (PDF)

PenFed Power Cash Rewards Visa Card (Statement Credit)
Statement credits will be applied to your existing PenFed Power Cash Rewards Visa account on your next billing statement. Auto redemptions occur on the 25th of each month, your available rewards will be processed for deposit per your selection above. Statement credits will appear on your next month’s statement. Please note: Statement credits do NOT replace your monthly payment.
A minimum of $0.01 in cash rewards is required to redeem. Cash Rewards are not refundable once redeemed.

PenFed Power Cash Rewards Visa Card (Savings account)
The deposit will be made to your PenFed Share account within the next 2-3 business days.
Auto redemptions occur on the 25th of each month, your available rewards will be processed for deposit per your selection. Please allow 2-3 business days for posting to your PenFed or external account. A minimum of $0.01 in cash rewards is required to redeem. Cash Rewards are not refundable once redeemed.

PenFed Power Cash Rewards Visa Card (Checking account)
The deposit will be made to your PenFed Checking account within the next 2-3 business days
Auto redemptions occur on the 25th of each month, your available rewards will be processed for deposit per your selection. Please allow 2-3 business days for posting to your PenFed or external account. A minimum of $0.01 in cash rewards is required to redeem Cash Rewards are not refundable once redeemed.

You can redeem your Rewards Points for Travel, Gift Cards, Merchandise, Experiences or donate your Rewards to charity. We have many exciting offers that you can access by accessing our Rewards site:

1. Log into your PenFed Online account.
2. Your Rewards Balance will show up in green on the left-hand side under your Rewards-earning credit card account.
3. Click on “Redeem Rewards” and you will be taken to the Rewards site.
4. In the top navigation, you can choose any of the above categories, or click on the magnifying glass to search for a specific item.

To access your most up to date Points balance, visit PenFed.org and click “Access my Rewards.” Points earned for purchases will be credited at the end of the billing cycle in which you earned them. All other Points will be credited at the end of the billing cycle following the cycle in which you earned them. Points credited in a billing cycle will not be available for redemption until at least 2 business days after they are credited.

Your Point balance will be adjusted based on your account activity. If you return items purchased with your Account, your Points balance may be negative. Should this occur, future Points earned will be used to bring the balance to zero or a positive balance.

There are many ways in which you can get more information,

1. By logging into your PenFed Credit Union account at PenFed.org and clicking “Access my Rewards” there, you can view your balance, redeem your cash or Points rewards, or view the Program Terms and Conditions at the bottom of the Rewards page.
2. By downloading the PenFed mobile app and following the same steps as #1.
3. By calling the Rewards hotline 800-581-7786 for Platinum and Pathfinder Cards or 800-698-9990 for Power Cash.