Does the PenFed Power Cash Rewards card offer cell phone insurance?

The credit score that you need for a PenFed credit card is 700+. That means applicants need good credit for approval. This applies to all PenFed credit cards.

If you receive a pre-approved mail or e-mail offer for a PenFed credit card, it means your credit profile likely meets the card's requirements for approval. While such an offer doesn't guarantee approval, it indicates good odds of getting the card. So, make sure you apply by flagging your application through the ... read full answerPenFed pre-approval web page.

PenFed Credit Card Credit Score by Card

• PenFed Power Cash Rewards Visa Signature® Card: A credit score of 700+ (good credit)
• PenFed Pathfinder® Rewards Visa Signature® Card: A credit score of 700+ (good credit)
• PenFed Platinum Rewards Visa Signature® Card: A credit score of 700+ (good credit)
• PenFed Gold Visa® Card: A credit score of 700+ (good credit)

Applying for credit cards will trigger hard inquiries on your credit report, which may temporarily damage your credit score. So, make sure you qualify before applying. If you don't know where you stand, you can check your score for free, right here on WalletHub.

Ultimately, it is worth noting that PenFed membership is now open to everyone. But keep in mind that simply having the credit score needed for a PenFed credit card does not guarantee approval. Some other key criteria include your annual income, existing debt load, number of open accounts, recent credit inquiries, employment status, and housing status.

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... read full answer
• Lost/stolen card reporting
• Visa signature concierge
• Zero liability protection

Along with these benefits, the PenFed Power Cash Rewards card has a $0 annual fee and gives rewards on all purchases. As long as you have good credit, the PenFed Power Cash Rewards Visa Signature® Card is certainly a card to consider adding to your wallet.

Some good credit cards with cell phone protection include the Citi Prestige® Card, the IHG® Rewards Premier Credit Card, the U.S. Bank Visa® Platinum Card, all Wells Fargo consumer credit cards, the Ink Business Preferred® Credit Card, and the First Citizens Rewards Visa® Card.

Cell phone insurance isn’t commonly offered by major credit cards, but it’s certainly a welcome perk. Cell phones don’t come cheap, and some credit cards offer up to $1,000 in reimbursement for a stolen or damaged phone.... read full answer

Just remember that all credit cards with cell phone protection have the same rule: You must continuously pay your cell phone bill with the credit card, or else your phone won’t get coverage. To make sure your phone is covered, it’s best to set up automatic monthly phone-bill payments with your card as the payment method.

Here are some good credit cards with cell phone protection:

• Citi Prestige: Cell phone protection up to $1,000 per claim or $1,500 per year; limit of 2 claims per year; $50 deductible.
• IHG Premier: Cell phone protection up to $800 per claim or $1,000 per year; limit of 2 claims per year; $50 deductible.
• All Wells Fargo consumer credit cards: Cell phone protection up to $600 per claim or $1,200 per year; limit of 2 claims per year; $25 deductible.
• U.S. Bank Platinum: Cell phone protection up to $600 per claim or $1,200 per year; limit of 2 claims per year; $25 deductible.
• Chase Ink Preferred: Cell phone protection up to $600 per claim; limit of 3 claims per year; $100 deductible.
• First Citizens Rewards Visa® Card: Cell phone protection up to $500 per claim or $1,000 per year; limit of 2 claims per year; $50 deductible.

None of these credit cards cover phones that are lost, as opposed to stolen. Some cards also have specific stipulations for what is and is not covered. So, make sure you’re up to speed on your card’s specific rules.