What are my PenFed Power Cash Rewards approval odds? This question is about the PenFed Power Cash Rewards Visa Signature® Card

Your PenFed Power Cash Rewards approval odds are good if you have a credit score of 700+, which is considered good credit. Approval odds for the PenFed Power Cash Rewards card will also be influenced by your annual income and existing debts. Applicants will need to be 18+ years old with a U.S. mailing address and an SSN or ITIN, as well. What You Need for Good PenFed Power Cash Rewards Card Approval Odds Good credit or better Enough income to pay credit card bills Low debt relative to income Low housing costs relative to income U.S. mailing address Age of 18+ Social Security Number or Individual Taxpayer Identification Number Keep in mind that many of these are guidelines rather than requirements. For example, you may have a low annual income but no debts and still get approved. If you want to enhance your application by improving your credit score, WalletHub’s free credit analysis can tell you what steps to take.

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What are my PenFed Power Cash Rewards approval odds?

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This question is about the PenFed Power Cash Rewards Visa Signature® Card

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Chip Lupo, Credit Card Writer

@CLoop • 07/07/22 This answer was first published on 07/07/22. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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Your PenFed Power Cash Rewards approval odds are good if you have a credit score of 700+, which is considered good credit. Approval odds for the PenFed Power Cash Rewards card will also be influenced by your annual income and existing debts. Applicants will need to be 18+ years old with a U.S. mailing address and an SSN or ITIN, as well.

What You Need for Good PenFed Power Cash Rewards Card Approval Odds

Good credit or better
Enough income to pay credit card bills
Low debt relative to income
Low housing costs relative to income
U.S. mailing address
Age of 18+
Social Security Number or Individual Taxpayer Identification Number

Keep in mind that many of these are guidelines rather than requirements. For example, you may have a low annual income but no debts and still get approved. If you want to enhance your application by improving your credit score, WalletHub’s free credit analysis can tell you what steps to take.

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What's the starting credit limit for the PenFed Power Cash Rewards card?

The starting credit limit for the PenFed Power Cash Rewards card is $5,000 at a minimum, according to customer service. However, some cardholders report limits as high as $25,000. PenFed Credit Union does not include any specific PenFed Power Cash Rewards credit limit information in the card’s terms, though.

PenFed Power Cash Rewards credit limits details:

For the most part, PenFed Power Cash Rewards credit limits depend on each applicant’s overall credit standing. Those with the highest income and best credit scores will generally be offered the highest starting...

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How much is the PenFed Power Cash Rewards annual fee?

The PenFed Power Cash Rewards annual fee is $0 per year. PenFed Power Cash Rewards’s $0 annual fee is lower than the average annual fee among new credit card offers right now. It’s not the only fee you need to worry about with the PenFed Power Cash Rewards Visa Signature® Card, though.

PenFed Power Cash Rewards Fees

Annual Fee: $0
Cash Advance Fee: 0%
Foreign Fee: 0%
Balance Transfer Fee: 3%
Max Late Fee: $28

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Is PenFed Power Cash Rewards Card metal?

The PenFed Power Cash Rewards Visa Signature® Card is not a metal credit card, as it is made of plastic like most other credit cards. There’s no functional difference between a plastic card like the PenFed Power Cash Rewards card and a metal credit card, though, so don’t dismiss the PenFed Power Cash Rewards card just because it isn’t metal. If you like the card’s terms and benefits, you should still consider applying.

Metal credit cards are usually expensive luxury cards. Some popular examples of metal...

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