A woman making a online purchase on her laptop with a PenFed Power Cash Rewards Visa card.


Earn cash back on everything!

  • % cash back for Honors Advantage members
  • % cash back for all other members
rewards calculator

How Much Cash Back Can You Earn?


Calculate Your Rewards


Your Cash Rewards



Not a problem, anyone can join. Apply now and we'll create your membership during this application.

How to redeem your Power Cash Rewards:

Redeem your rewards, your way...

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Statement Credit

Apply directly to your PenFed Credit Card account.

Deposit icon

Deposit into PenFed Account

Add your cash rewards into your PenFed Checking or Share account.

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Transfer to another Financial Institution

Schedule monthly redemptions into the account of your choice.

Additional Features and Benefits

No Fees

No Annual Fees:

  • You won't have to pay an annual fee to enjoy all the great features that come with your PenFed card.

No Foreign Transaction Fees: 

  • You won’t be charged extra for using your PenFed card outside of the U.S.
No Fees

Features available on all cards

Chip Security


±Visa Zero Liability policy covers U.S.—issued cards only and does not apply to ATM transactions, PIN transactions not processed by Visa, or certain commercial card transactions. Cardholder must notify issuer promptly of any unauthorized use. Consult issuer for additional details or visit www.visa.com/security.

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.

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

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