Card economics
PenFed Power Cash Rewards
PenFed membership is required to hold this card. The card is modeled at its 1.5% default rate. PenFed's 2% rate is for PenFed Honors Advantage members: active-duty, Reserve, National Guard, retired or honorably discharged military, or the primary owner of both this card and a qualifying PenFed checking account (Free Checking also needs a $500 minimum daily balance or $500 monthly direct deposits). The 2% tier is not modeled.
Annual fee
No annual fee
Foreign transaction fee
None
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Welcome offers change frequently — check the issuer's page for the current offer.
Earn rates
Points or cash back earned per dollar spent. 'x' means points multiplier, '%' means cash back percentage. Portal-only rates require booking through the issuer's travel portal.| Category | Rate |
|---|---|
| Everything else | 1.5%Base rate |
Catalog record last reviewed Oct 11, 2026; see the Corrections page for later changes. Issuer terms and available offers control and may change.
Next step
One card is a start. The modeled setup is the whole wallet.
The PenFed Power Cash Rewards might be useful on its own, but the modeled combination depends on your total spending. The optimizer searches eligible portfolios and clearly labels whether the result was proven optimal within that run's inputs or is the strongest valid setup found before timeout.