The best PenFed credit card is the PenFed Power Cash Rewards. It offers 1.5% cash back on all purchases and gives a $100 statement credit for spending $1,500 in the first 90 days of account opening. The card also comes with a $0 annual fee.
Plus, members who qualify for the PenFed Honors Advantage program will earn 2% cash back on all purchases instead of the standard 1.5%. To qualify, cardholders must meet certain military service and/or checking account requirements.
Other PenFed Credit Card Options:
For higher earnings on everyday purchases, the best PenFed card is the PenFed Platinum Rewards. You’ll earn 5 points per $1 spent on gas and electric vehicle charging stations, 3 points per $1 at supermarkets and restaurants, 3 points per $1 on cable, satellite and other pay television/radio/streaming services, as well as 1 point per $1 on all other purchases. Plus, the card offers 15,000 points for spending $1,500 in the first 3 months. The annual fee is a $0.
The PenFed Pathfinder is the best PenFed card for frequent travelers because it offers 3 points per $1 spent on travel (4 points per $1 for Honors Advantage Members), 1.5 points per $1 on all other purchases. Plus, you can earn an initial bonus of 50,000 points for spending $3,000 in the first 90 days. Other travel related perks include a $100 annual domestic air travel ancillary statement credit, a $100 Global Entry or $85 TSA Pre-check statement credit, and a complimentary Annual Priority Pass Select™ membership. The card comes with a $95 annual fee.
It is worth noting that all these PenFed credit cards require a credit score of 750. That means you need excellent credit for approval. If you’d like to know where you stand, you can check your credit score for free, right here on WalletHub.
WalletHub Answers is a free service that helps consumers access financial information. Information on WalletHub Answers is provided “as is” and should not be considered financial, legal or investment advice. WalletHub is not a financial advisor, law firm, “lawyer referral service,” or a substitute for a financial advisor, attorney, or law firm. You may want to hire a professional before making any decision. WalletHub does not endorse any particular contributors and cannot guarantee the quality or reliability of any information posted. The helpfulness of a financial advisor's answer is not indicative of future advisor performance.
WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our content guidelines
. This question was posted by WalletHub. Please keep in mind that editorial and user-generated content on this page is not reviewed or otherwise endorsed by any financial institution. In addition, it is not a financial institution’s responsibility to ensure all posts and questions are answered.