Power Cash Rewards Visa Signature Card: A Comprehensive Review

The Power Cash Rewards Visa Signature Card is a great option for those who want to earn rewards on their everyday purchases. It offers 3% cash back on gas, 2% cash back on groceries, and 1% cash back on all other purchases.

To be eligible for this card, you'll need to have a good credit score, as the issuer requires a minimum credit score of 700. This card also comes with a $0 annual fee, making it a great option for those who want to avoid additional costs.

With a credit limit of $5,000, you'll have plenty of room to make purchases and earn rewards. The card also offers a 0% introductory APR for 6 months, which can be a huge advantage for those who need to make a large purchase or consolidate debt.

The PenFed Power Cash Rewards Visa Signature Card is a great option for those looking to earn rewards and incentives on their purchases. It offers a decent sign-up bonus of $100 statement credit after spending $1,500 in purchase transactions within the first 90 days of account opening.

You can earn rewards on every purchase, and the card doesn't have transfer partners, so you can't transfer your rewards to another loyalty program. Rewards are redeemable only for a statement credit.

The card also features an introductory APR of 0% for 12 months on balance transfers made in the first 90 days after account opening, with a 3% balance transfer fee. This can be a good option if you have existing debt and want to save money on interest payments. Make sure the math works in your favor before transferring any debt to this card.

The PenFed Power Cash Rewards Visa Signature Card has a rewards program that's worth exploring. You can earn 1.5% cash back on all purchases, which is a great incentive to use your card for everyday expenses.

For Honors Advantage Members, the earn rate on purchases is even higher at 2% cash back. This is a nice perk if you're already part of the PenFed Honors program.

You can earn a $100 statement credit as an initial bonus, but only if you spend $1,500 in the first 90 days. This is a great opportunity to rack up rewards quickly.

Rewards never expire as long as your account remains open and in good standing. This means you can collect your rewards over time without worrying about them disappearing.

You can redeem your rewards as a statement credit or deposit them into a bank account from PenFed or another institution. This flexibility makes it easy to use your rewards in a way that suits your needs.

To redeem your rewards, simply log in to the PenFed website or mobile app.

PenFed Transfer Partners are a great feature of the Power Cash Rewards Visa Signature Card. They allow you to transfer your rewards to other PenFed members, making it easier to redeem them for travel, cash back, or other rewards.

You can transfer your rewards to any PenFed member, and the transfer is usually processed within 3-5 business days.

The Power Cash Rewards Visa Signature Card is a great option for those looking for a low-maintenance cash back card. With no annual fee, you can enjoy the benefits of earning cash back without breaking the bank.

The card doesn't charge a foreign transaction fee, making it a great choice for international travelers. This can save you a significant amount of money on your transactions abroad.

The regular APR is 17.99% (Variable), so be sure to pay your balance in full each month to avoid interest charges. This APR applies to purchases, not balance transfers.

For balance transfers, you'll enjoy a 0% Intro APR for 12 months, followed by the regular APR of 17.99% (Variable) after that. This can be a great way to consolidate debt or finance large purchases.

Keep in mind that a balance transfer fee of 3% per transaction applies, so be sure to factor that into your decision.

The Power Cash Rewards Visa Signature Card is a great option for those looking for a cash back rewards card with no annual fee. This card offers 0% APR on balance transfers for the first 12 months, but comes with a 3% fee on each transaction.

The cash back feature is particularly enticing, with 1.5% cash back on all purchases for non-PenFed Honors Advantage Members, and a whopping 2% cash back on all purchases for PenFed Honors Advantage Members. This can add up significantly over time, making your purchases work harder for you.

To qualify for this card, you must be a PenFed member, which may be a barrier for some, but also underscores the card's niche appeal and close-knit community of PenFed.

New cardholders can earn a $100 statement credit after spending $1,500 within the first 90 days, making it a straightforward and achievable target for many consumers.

Here's a comparison of the Power Cash Rewards Visa Signature Card with another popular credit card:

This card is best for PenFed members who frequently use their card and can consistently pay off balances, not seeking an introductory APR offer.

To apply for the Power Cash Rewards Visa Signature Card, you'll need to visit the issuer's website and fill out an online application.

The application process typically takes around 5-10 minutes to complete, and you'll need to provide some basic personal and financial information.

You can apply for the card online, by phone, or by visiting a participating bank branch in person.

The issuer will review your application and may request additional information to verify your identity or income.

Once approved, you'll receive your new card in the mail within 7-10 business days.

You can start using your new card immediately, but it may take a few days for the transactions to appear on your account statement.