The card_name is a no annual fee card offering a flat rate 2% cash back for Honors Advantage members.
The card also offers no foreign transaction fees, purchase protection, and Visa Signature benefits.
This article will cover everything you need to know about this card to determine if you should add this card or a different card to your wallet. Let’s dive right in.
Welcome Bonus
The Power Cash Rewards Card currently offers the following welcome bonus:
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Earning Points
The Power Cash Rewards Card earns cash back at the following rates:
- 2% cash back on all purchases for PenFed Honors Advantage Members; OR
- 1.5% cash back on all purchases for non-Honors Advantage Members.
To become a PenFed Honors Advantage member, you must either be a military member (active duty, reserve, honorably discharged, or retired) or maintain a PenFed Checking Account.
Members with a Free Checking account must also 1) maintain a minimum $500 daily balance OR 2) set up monthly direct deposits of $500 or more in order to maintain Honors Advantage Eligibility.
No Annual Fee
The Power Cash Card has no annual fee.
Card Benefits and Perks
Below are the benefits and perks of the Power Cash Rewards Card:
0% Intro APR on Balance Transfers
This card offers 0% Intro APR on balance transfers for 12 months. After that, a reg_apr,reg_apr_type APR applies. There is also a 3% balance transfer fee.
No Foreign Transaction Fees
This card has no foreign transaction fees on purchases outside the U.S., which is helpful if you travel internationally to help you avoid paying a 3% fee on those international purchases.

Purchase Protection
Purchase protection can save you a lot of money if you bought an eligible item that is damaged or stolen within 90-days.
For example, if accidentally dropped your new phone or laptop and broke the screen, you could file a claim to get it replaced if it was purchased within the last 90 days.
Visa Signature Benefits
This card also comes with Visa Signature benefits, which include:
Shipt– You can get groceries, household essentials, and other items delivery as soon as one hour with a free Shipt membership, which includes free same-day delivery on orders $35+.
Silvercar Discount– Visa Signature cardholders receive a 10% to 15% discount on car rentals with Silvercar, which rents only Audi vehicles.
Discounts at Avis and Budget– Book your next road trip with your Visa Signature card to receive up to 25% off base rates on qualifying rentals from Avis and Budget. Your card can also unlock complimentary upgrades (when available), waived Additional Driver Fee and 10% saving on XM Satellite radio during rental.
Sonoma County Wine Benefits– Visa Signature cardholders enjoy special benefits at more than 50 wineries including BOGO wine tasting, savings on wine purchases in tasting room, preferred pricing on non-wine purchases over $50, and $1 Ground Shipping on the purchase of 3 or more bottles.
Emergency Card Replacement– Visa can work with your bank to expedite the replacement of your card and ship it globally within 24 to 72 hours.
Emergency Cash Disbursement– In case of emergency, Visa can arrange a wire cash transfer to your local Western Union within 2 hours of approval from your bank.
NortonLifeLock: ID Navigator Powered by NortonLifeLock provides you with the tools to help keep you informed of potential threats to your identity so you can act quickly.
Skillshare Discount– Get a free three months access to thousands of courses with a Skillshare membership plus 20% off an annual membership.
Troon Golf Rewards– Your Visa Signature card entitles you to automatic Silver Status when you sign up for Troon Rewards, for 10% saving on golf fees, merchandise and lessons at over 150 golf courses across the United States and world.
Sofar Sounds– Cardholders receive unlimited access to the exclusive 7 day advance presale window for select Sofar shows, and one FREE ticket per show with purchase of one or more tickets.
Pros and Cons
Here’s a quick overview of this card’s advantages and disadvantages:
Pros:
- 2% cash back for Honors members.
- No annual fee and no foreign transaction fees.
Cons:
- Lack of travel and purchase protection.
- Fewer rewards for non-Honors members.
Alternatives to the Power Cash Card
Now that you know about this credit card’s various benefits and pros and cons, it’s time to see its alternatives.
Citi® Double Cash Card
Better for Non-Honors Members
The Citi® Double Cash Card – 18 month BT offer boasts a strong 2% rewards rate on purchases, where you get 1% back when you buy and 1% when you pay.
This zero-annual-fee card offers a solid earning potential as long as you pay your balance on time, and it provides a simple way to rack up points with no bonus categories to track.
You can also boost your rewards by also holding the Citi Premier® Card (review), which allows you to transfer points to airline and hotel programs. This combination effectively allows you to earn 2 airline miles per dollar on all spending with the Citi Double Cash.
Bilt Mastercard®
Better for Travel
- Pay Rent Without Fees and Earn 1 Point Per Dollar on Rent (up to 50,000 Points Per Calendar Year)
- No Annual Fee
- 3x Points on Dining
- 2x Points on Travel
- Transfer Rewards to Airlines and Hotels
- Cell Phone, Primary Rental Car, and Trip Delay Insurance
Bilt Mastercard® is a no-annual-fee credit card that allows you to pay rent without a transaction fee and earn 1 point per dollar on rent (up to 50,000 points per calendar year).
You also earn 3x points on dining, 2x points on travel, and 1x points everywhere else.
The Bilt Rewards card also has great benefits for a no-annual fee card, including cell phone insurance, primary rental car insurance, 90-day purchase protection, trip delay insurance, trip cancellation insurance, and no foreign transaction fees.
Plus, you can transfer your points to airline and hotel partners such as United Airlines, American Airlines, and World of Hyatt. Or redeem the points for travel or at Amazon.
Is the Power Cash Card Worth It?
The Power Cash Rewards Card is a good no-annual fee option if you are an Honors Advantage member because of the 2% cash back and no foreign transaction fees.