PenFed Power Cash Rewards full review
Get rewarded for your purchases without annual fees with this card!
What Makes the PenFed Power Cash Reward Credit Card Stand Out?
The PenFed Power Cash Reward credit card, offered by PenFed Credit Union and Visa, provides unique benefits that set it apart from other credit cards in the market. Not only does it have no annual fee, but it also waives foreign transaction fees, making it an attractive option for frequent credit card users.
By choosing PenFed Power Cash Reward, you have the opportunity to earn cash back and rewards whenever you make purchases. The card offers a range of features and benefits that make it ideal for those who want a credit card that aligns with their spending habits without charging excessive fees.
How Does the PenFed Power Cash Reward Credit Card Work?
Once you become a PenFed member, you gain access to exclusive discounts across various types of establishments, including domestic, financial, automotive, personal, and retail services. In addition to these discounts, you can also benefit from promotions offered by Visa, such as discounts on shopping, hotels, sports events, car rentals, and entertainment.
Enhanced Security Features
PenFed Power Cash Reward prioritizes the security of its cardholders. With 24/7 fraud monitoring, you can have peace of mind knowing that your card is being monitored for suspicious activity at all times. In the event of any fraudulent transactions, you will be promptly notified by a Service Representative.
When it comes to online purchases, the card provides advanced security technology developed by Visa. With multiple layers of security, your payment information is protected against unauthorized use. This ensures that you can confidently make online purchases without worrying about the safety of your card details.
Balance Transfer Option
If you are looking to establish or improve your credit history, the PenFed Power Cash Reward credit card offers a balance transfer feature. This allows you to consolidate your debts, reduce interest rates, and make lower monthly payments. It can also help you cover unexpected expenses and pay off higher-rate cards.
Redeeming Your Rewards
Your PenFed Power Cash Reward card allows you to redeem your cash rewards in multiple ways:
- Statement Credit: Apply the cash rewards directly to your PenFed credit card account.
- PenFed Account Deposit: Add the cash rewards to your PenFed Checking or Share account.
- Transfer to a Financial Institution: Schedule monthly withdrawals to the account of your choice.
Benefits of the PenFed Power Cash Reward Credit Card
There are several benefits associated with the PenFed Power Cash Reward credit card:
- Earn up to 1.5% cash back on all purchases made with the card.
- PenFed Honors Advantage members can earn up to 2% cash back on all purchases.
- Receive a $100 statement credit bonus offer when you spend $1,500 within the first 90 days of card usage.
- No annual fees, providing significant cost savings.
- No foreign transaction fees, making it convenient for international purchases.
How to Apply for the PenFed Power Cash Reward Credit Card
If you are interested in applying for the PenFed Power Cash Reward credit card, follow the application process outlined below to start enjoying the numerous opportunities and advantages it offers:
