PenFed · Visa
PenFed Power Cash Rewards Visa Signature®
Flat-rate cash back seekers who don't want to think about categories
No annual fee
Why people consider it
- 1.5x on every purchase.
- Simple 1.5x on everything.
Current welcome offer
Welcome offer: +$100
Requirement: Spend $1,500 in 3 months
Tell us what you normally spend and we’ll check it against this requirement. Find a card →
Current offer shown; issuer determines eligibility.
Details: $100 statement credit after $1,500 in purchases within 90 days of account opening (allow 4 weeks after reaching $1,500)
Recommended credit score: 680+
Advertising disclosure: we may earn a commission if you apply through this link. This does not affect your ranking. Full disclosure
Calculate my rewards → Enter your monthly spending and see exactly how much this card would earn you compared to every other card we track. Already carry it? Add it to My Cards →
Is this card worth it?
Ongoing value
$864/year
for the sample household ($4,800/month) · points at typical value
First-year value
$964 first year
Includes: +$100 welcome offer
$100 is one-time. $864/year is ongoing.
To earn the bonus: spend $1,500 in 3 months.
Offer verified: Nov 4, 2026
Worth considering if you already want this type of card.
- Full annual fee:
- none
- Major trade-offs:
- Must be a PenFed member — a $5 savings deposit, set up during the card application 1.5% base unless you qualify for Honors Advantage (2%)
- Against a no-fee alternative:
- This is a no-fee card — nothing to earn back.
Detailed research
Full reward table and category caps
Optional benefits and credits
Perks (not counted in our math)
Pay your monthly wireless bill with the card — covers theft and damage the following month
Approval and bonus eligibility caveats
Recommended credit score: 680+ — the issuer decides every application.
Issuer verification source
Rates and fees may vary.See current rates, fees, and terms on PenFed's site
Detailed methodology
Net annual value = rewards on a spending profile at typical point value − the full annual fee; credits count only if you tell us you use them; a welcome offer counts once, in year one, only where the profile meets its requirement. Same math as Find a Card. Methodology v2026.09.4.
Editorial review and disclosures
Pros
- + Uncapped 1.5% on everything with no annual fee — 2% with Honors Advantage (military service, or a PenFed checking account kept at $500 or with $500+/month direct deposit)
- + $100 welcome bonus after $1,500 spend
- + No foreign transaction fees
- + Credit union — often more favorable terms
Cons
- - Must be a PenFed member — a $5 savings deposit, set up during the card application
- - 1.5% base unless you qualify for Honors Advantage (2%)
- - Flat-rate only — no category bonuses (gas, grocery, etc.)
- - Less well-known brand
Written by Tim · Data verified against issuer terms · Last checked Nov 4, 2026 · Methodology v2026.09.4
Card information is collected independently and has not been reviewed or provided by the card issuer. Terms apply to the offers listed on this page. See our disclosure for details.