Note: Some information in this post might be outdated. For the most current documentation and updates, please refer to the product’s original page.

In this PenFed Power Cash Rewards Visa Signature® Card review, you will see all the advantages of using a cashback card on everything.

With the PenFed Power Cash Rewards, there are no rotating categories, no expiration date, no minimum, and no gimmick.

Each card has chip security, click-to-pay, zero-liability policy, and tap-to-pay.

However, Power Cash Rewards focuses all of PenFed’s features on specific target audiences. For example, streaming service subscribers.

This specific card is also highly recommended for: paying bills, making recurring payments, and purchasing things daily. Like when you do online shopping, go dining, and stop by drug stores.

In addition, this credit card is also good for you to use whenever you need to do significant home renovations and automobile repairs.

As for its cashback rewards, it depends on your eligibility for the credit union’s Honors Advantage program. You can earn up to 2% back with it.

Now, as for how to redeem such powerful cash rewards, you can choose from different options. Follow their instructions to add cash rewards to your checking or share account.

One of America’s largest credit unions, the Pentagon Federal, or PenFed, serves almost two million members nationwide and worldwide.

And if you read this PenFed Power Cash Rewards Visa Signature® Card review, you probably know what this means. Its pros have great potential. Check it out below!

First, there will be no annual fee. Therefore, it will be nice to enjoy all of the great features of your PenFed card.

Second, they will also not charge extra fees if you wish to use your Power Cash Rewards overseas.

Regarding balance transfer offers, you will be able to: (i) consolidate debt, (ii) lower interest rates, (iii) pay off high-interest credit cards, (iv) decrease monthly payments, and (v) afford any unexpected costs.

Speaking of the cons, there are not a lot of them. One regards the introductory APR bonus. Which does not include shopping.

And the other is that you must qualify to receive the full 2% reward. Otherwise, you will receive only 1.5%. In short, extra benefits are not that attractive.

You will need a good credit history to approve this credit card. Meaning a credit score ranging from good to excellent.

So you decided that you may be willing to try the PenFed Power Cash Rewards Visa Signature® Card. Here, you will find some information that will help you out.

Firstly, it is important to know a requirement for application eligibility: you need to become a PenFed member. This is non-negotiable.

Yes. Because the Pentagon Federal Credit Union, as the name states, is a credit union. Therefore, you must be a member to use its financial services.

Do not worry, though! Because anyone is free to join. That is, as long as one is open to going through some additional steps before applying for the PenFed Power Cash Rewards Visa Signature® Card.

As we mentioned above, the application steps to obtain PenFed’s financial products will depend on your current status concerning this credit union.

In other words, if you are not yet a member, you will still be able to join it without difficulties. But applying for membership comes before applying for any of their credit cards.

Therefore, non-members interested in this full rewards credit card must fill out an application form and make a $5 deposit into a PenFed savings account.

After this, they will set up your membership during the application process.

If you are already a member, know that your application experience will be much faster. This is because they automatically fill in part of your form for you.

So, for those who are members, all they need to do is log in to PenFed.org. It is very simple. It can be done anywhere, any time.

Anyone who is a member of PenFed can open accounts for their minor children by adding them as members in their own right.

This will allow them to have a Regular Share Account and a Checking Account. And to do so, you must complete what they call Checking Account Application.

The parent or legal guardian must be listed as a joint owner, and the child must be younger than 16. For this, just fill out the joint section of the Membership Application.

There is not much information regarding other means of application. Not for credit cards, not for memberships.

However, their credit cards can be easily used with a digital wallet. You will need to load your credit card into your wallet.

Notice that although the PenFed has no annual fee, it demands a good credit history at least.

Below is a comparison of two cashback reward credit cards. Check it out!

Now, if you think the Upgrade Triple Cash Rewards card is the best option for your finances, check out our post below to learn how to apply for it!