Bogdan Roberts, Credit Cards Moderator
@bogdan_roberts
The PenFed Honors Advantage program offers higher earning rates to eligible PenFed Power Cash Rewards Visa Signature® Card and PenFed Pathfinder® Rewards Visa Signature® Card members. More specifically, PenFed Power Cash Rewards cardholders get 2% cash back on all purchases and PenFed Pathfinder cardholders get 4 points / $1 spent on travel if they are eligible for this program.
How the PenFed Honors Advantage Program Works
- Eligibility based either on having and maintaining a PenFed Access America or Free Checking acccount or being/having been in military service (active duty, reserve, honorably discharged, or retired).
- PenFed Power Cash Rewards cardholders have their rewards supplemented to 2% cash back on all purchases.
- PenFed Pathfinder cardholders have their rewards supplemented to 4 points / $1 spent on travel.
- You do not need to apply for the PenFed Honors Advantage Program. If you are in military service, you will receive the PenFed Honors Advantage 2% cash back upon completion of the application.
- Once you open a PenFed checking account, your card will be automatically upgraded for the higher earning rate within one business day of opening that checking account.
Keep in mind that you must maintain your checking account in order to receive the higher earning rate through the PenFed Honors Advantage program. If you close your checking account, you will no longer be earning the supplemented rewards.
It is also worth noting that you can only earn rewards on purchases (minus any credits or returns). Cash advances, balance transfers, and checks are not considered purchases and will not earn rewards.
Popular Military Credit Cards
-
Travel Rewards
-
Gas Rewards
-
Low Interest
-
Cash Back
People also ask
What are the PenFed Credit Union credit score requirements?
The PenFed Credit Union credit score requirement is 700 for all cards, which means that people with good credit or better have high approval odds.
If your credit score is below the threshold needed for a PenFed Credit Union credit card, it’s best to wait to apply until you meet the credit score requirement. You can check your credit score for free on WalletHub.
PenFed Credit Union Credit Score Requirements by Card
- PenFed Power Cash Rewards Visa Signature® Card: 700 (Good credit)...
What are the best PenFed Power Cash Rewards card benefits?
The best PenFed Power Cash Rewards card benefits are purchase security and travel accident insurance. The PenFed Power Cash Rewards Visa Signature® Card also has roadside dispatch and travel and emergency assistance services , which are more common perks across PenFed credit cards.
PenFed Power Cash Rewards Card Benefits
- Purchase security
- Travel accident insurance
- Roadside dispatch
- Travel and emergency assistance services
- Emergency card replacement
- Lost/stolen card reporting
- Visa signature concierge
- Zero liability protection
In addition...
read full answer by Chip Lupo, Credit Card WriterIs it hard to get a PenFed credit card?
Yes, it is hard to get a PenFed credit card because all PenFed credit cards require at least good credit for approval. Unless your credit score is 700 or higher and you have a lot of income, it will be difficult for you to get approved for a PenFed credit card.
Minimum Credit Score for Notable PenFed Credit Cards
- PenFed Power Cash Rewards Visa Signature® Card: good credit
- PenFed Gold Visa® Card: good credit
- PenFed Platinum Rewards Visa Signature® Card: good credit
- PenFed Pathfinder® Rewards Visa Signature® Card:...
Did we answer your question?
Important Disclosures
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers. For full transparency, here is a list of our current advertisers.
Advertising impacts how and where offers appear on this site (including, for example, the order in which they appear and their prevalence). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.
Advertising enables WalletHub to provide you proprietary tools, services, and content at no charge. Advertising does not impact WalletHub's editorial content including our best picks, reviews, ratings and opinions. Those are completely independent and not provided, commissioned, or endorsed by any company, as our editors follow a strict editorial policy.