PenFed Power Cash Rewards Visa Signature Card
Issued by PenFed Credit Union · Visa network · Unsecured consumer card
At a glance
The PenFed Power Cash Rewards Visa Signature Card is a cash back consumer credit card issued by PenFed Credit Union on the Visa network. Its current annual fee is $0, with a None foreign-transaction fee. It is accepting new applications. Terms were last independently verified on 2026-08-17.
Current rates and fees
From the issuer’s official pages and agreement. Each value shows its source, confidence, and last-verified date.
Interest
Unusual and verified: PenFed applies one non-tiered variable rate to every approved cardholder regardless of credit tier. This is a genuine product design, not a missing range.
PenFed — official summary of terms (PDF)verified 2026-08-17
PenFed — official summary of termsverified 2026-08-17
Fees
PenFed — official summary of termsverified 2026-08-17
PenFed — official summary of termsverified 2026-08-17
Rewards
PenFed — official card pageverified 2026-08-17
The Honors Advantage uplift is permanent, not promotional — but the checking-account route is lost if that account closes.
PenFed — Honors Advantage pageverified 2026-08-17
Benefits and protections
Confirm before you apply
Rates, fees, offers, eligibility, and benefits change often. Confirm the final terms directly with the issuer’s official page or the CFPB card-agreement database before applying.
Modeled cost
True cost of this card
True-cost calculator
Illustrative math from this card’s APR. Nothing you enter is stored. This shows costs — it does not predict your rate or approval.
Cost of carrying a balance for a year
| Balance carried | Interest / month | Interest / year |
|---|---|---|
| $1,000 | $851.67 | $10,220 |
| $3,000 | $2,555 | $30,660 |
| $5,000 | $4,258.33 | $51,100 |
Paying only the minimum on $3,000
Never pays off
At this APR, a 2% minimum payment barely covers interest.
$5,000 balance transfer (3% fee, 15-mo intro, $300/mo)
Never clears total cost
$150 upfront fee, plus post-intro interest at 1022%.
Simplified illustrations. Real interest depends on your exact APR, balance, timing, and payments. The clearest way to avoid all of this is to pay the statement balance in full.
Our independent analysis
Editorial rating
4.44.4 out of 5
How this score was calculated
| Dimension | Weight | Score |
|---|---|---|
| Earning value (net of fees) | 35% | 4.5/5 |
| Fees (annual, FTF) | 20% | 4.5/5 |
| Redemption simplicity | 20% | 4/5 |
| Terms transparency | 15% | 5/5 |
| Protections | 10% | 3.5/5 |
Methodology 2026.07 · full methodology · Credit Defense Hub earns no commission or affiliate revenue from card issuers; editorial scores are independent of any advertising relationship.
A credit-union 2% card that almost anyone can join — PenFed operates an open charter, so the usual credit-union eligibility barrier does not apply. Its single flat 17.99% APR is unusually transparent: every approved cardholder gets the same rate rather than being tiered by credit score. Deposits and accounts here are NCUA-insured, not FDIC.
Advantages
- 2% flat with Honors Advantage, which most applicants can obtain
- One published APR for everyone — no tier surprises
- No annual or foreign-transaction fee
Watch for
- 2% requires military service or a qualifying PenFed checking account
- Must join the credit union to hold the card
- Fewer perks than big-bank premium cards
Best for: Anyone wanting simple 2% cash back who is willing to join a credit union.
Credit Defense Hub Editorial Team · reviewed 2026-08-17 · Pending named subject-matter review Editorial analysis is independent and separate from the issuer and from consumer reviews.
Extractable answers
Quick answers
- Who issues the PenFed Power Cash Rewards Visa Signature Card?
- It is issued by PenFed Credit Union (legally, Pentagon Federal Credit Union) on the Visa network.
- What does the PenFed Power Cash Rewards Visa Signature Card cost?
- The annual fee is $0, and the foreign-transaction fee is None. Verified 2026-08-17. The purchase APR is variable and depends on creditworthiness — confirm the current range with the issuer.
- Is the PenFed Power Cash Rewards Visa Signature Card accepting new applications?
- Yes, as of our last verification. Availability can change — confirm on the issuer’s page.
- Does the PenFed Power Cash Rewards Visa Signature Card help build credit?
- Like most major cards, on-time payments and low utilization generally help build history over time; check the issuer’s reporting practices.
- What should someone verify before applying?
- The current APR range, the annual and foreign-transaction fees, any welcome-offer terms, and whether the reward or benefit you want still applies — all directly on the issuer’s page or card agreement.
- What should you do if something goes wrong with this card?
- For a wrong charge, use the issuer’s billing-dispute process (FCBA). For inaccurate credit reporting, dispute with the bureaus (FCRA). If it is not resolved, you can complain to the CFPB and your state attorney general. See our card-problem guides.
Current-fact answers reflect terms verified 2026-08-17; confirm with the issuer before applying.
What consumers report
No verified consumer reviews yet
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If your issue is about credit reporting or a dispute
When to talk to a professional
A consumer review is not a legal finding. If a card issuer reported inaccurate information, denied a valid fraud claim, or you were sued over a balance, those are situations where documenting the facts and — for lawsuits or unresolved FCRA/FDCPA problems — talking to a consumer attorney or legal aid can matter. You can also report issues to the CFPB.
See the issuer’s official page →
Educational information — not advice
This page provides general educational information about credit, debt, and consumer protections. It is not legal advice, financial advice, or credit repair services, and reading it does not create any professional relationship. Laws, procedures, deadlines, and dollar amounts vary by state and change over time.
For advice about your specific situation, consult a licensed attorney or qualified financial professional. See our full disclaimer.