PenFed Credit Union

The best PenFed Power Cash Rewards benefits include rental car and travel accident insurance, along with extensive cash back rewards. The PenFed Power Cash Rewards card also offers extended warranty protection, purchase security, and zero liability protection.

PenFed Power Cash Rewards Benefits

• Initial bonus: $100 statement credit for spending $1,500 in the first 90 days.
• Ongoing rewards: 1.5% cash back on all purchases (2% cash back for Honors Advantage Members).
• Rental car insurance: Covers physical damage, theft, reasonable and customary loss-of-use charges when you charge the entire rental transaction to your PenFed Power Cash Rewards card.
• Travel accident insurance: Coverage for common carrier accidental death or dismemberment at no extra cost when you charge your travel fare to the PenFed Power Cash Rewards card.
• Purchase Security: Replaces, repairs, or reimburses you for eligible items purchased with the PenFed Power Cash Rewards card, up to a preset amount, for 90 days from the date of the purchase, due to covered reasons.
• Extended warranty protection: Doubles the time period of the original manufacturer's U.S. repair warranty, up to one year, for eligible warranties of three years or less.
• Roadside dispatch: You get 24/7 pay-per-use roadside assistance for towing, tire changes, jump starts, lockout services and more.
• Emergency services: If your card has been lost, stole or damaged, or if you need emergency cash, you can get a replacement, or emergency card.
• Zero liability protection: You won't be liable for any reported unauthorized purchases or ATM transactions.

To view more details about your PenFed Power Cash Rewards card, including how to claim them, take a look at your Benefit Guide. Along with these benefits and rewards on all purchases, the PenFed Power Cash Rewards card has a $0 annual fee. Plus, there's a 0% foreign transaction fee, which makes the PenFed Power Cash Rewards an excellent travel companion. As long as you have excellent credit (a credit score of 750+), the PenFed Power Cash Rewards card is certainly a card to consider adding to your wallet.

Yes, it is hard to get a PenFed credit card. As of July 2020, all of PenFed's main credit card offers require excellent credit for approval, or a score of 750+. Those include the PenFed Platinum Rewards card, Gold Visa and Power Cash Rewards card. In addition, PenFed's other credit cards that are co-branded with various organizations tend to require good credit, or a score of 700+. Therefore, PenFed credit cards are hard to get for the average person, since the average credit score is only in the fair credit range. Applicants who don't have a steady income will also find it hard to get a PenFed credit card, although PenFed doesn't disclose a specific income needed for approval.

Another factor that makes it hard to get a PenFed credit card is that you can't apply for the card without first becoming a member of the credit union. While doing so is free, as well as open to any U.S. citizen or permanent resident, it does require the time to fill out an extra application and open a savings account with at least $5 in it. If you don't want to go through that trouble just to apply, especially when approval isn't guaranteed, you may want to look elsewhere.

PenFed's requirements include being at least 18 years old, having enough income or assets to make the monthly payments and having an SSN or ITIN. You will also need to have a verifiable bank account to qualify for a PenFed personal loan.  

PenFed Requirements for Borrowers

• Credit Score: 600+
• Income: Not disclosed
• Age: 18+
• Citizenship: U.S. citizen or permanent resident
• Identification: SSN or ITIN
• Bank Account: Verifiable bank account
• Residency: All states as long as you are a member of the Pentagon Federal Credit Union

Before you apply for any personal loan, it's a good idea to pre-qualify. While meeting all of the requirements gives you a good chance of approval, it's never guaranteed. To pre-qualify with multiple lenders at once, check out WalletHub's free pre-qualification tool.

Yes, the best PenFed credit card for travel is the PenFed Pathfinder card because it offers extensive rewards for travel purchases, a 0% foreign transaction fee, and luxury perks such as free airport lounge access.

Here's why the PenFed Pathfinder card makes for a good travel card:

In addition to its rewards, the PenFed Pathfinder card also features a 0% foreign transaction fee, so you won't have to worry about getting charged more for your transactions with foreign merchants. And you also get several travel benefits such as baggage and trip delay reimbursement, and travel accident insurance.

The PenFed Pathfinder card charges a $95 annual fee, which is waived for those who qualify for Honors Advantage (members of the military or Access America account holders). The PenFed Pathfinder card requires excellent credit (a credit score of 750+) for good odds of approval.

If you're not tied to PenFed as an issuer, feel free to also check out our editors' picks for the best travel credit cards on the market and pick one according to your needs.

The easiest way you can pay your PenFed credit card is either online or over the phone at (800) 247-5626. Alternatively, you can pay through the PenFed mobile app, by mail or at a branch.

To pay a PenFed credit card bill online, log in to your online account and click on “Make Payment.” Then, choose how much to pay, when to pay it, and where the payment is coming from. PenFed allows cardholders to set up automatic payments, too.

Ways to Make a PenFed Credit Card Payment

• By phone: Call (800) 247-5626 and enter your card information when prompted.
• Online: Log in to your online account and click on “Make Payment.”
• Through the mobile app: Download the app, log in to your account, select your card and click on “Make Payment.”
• By mail: Send a check or money order (but not cash) to:PenFed Credit UnionBox 247009Omaha, NE 68124-7009Make sure to send it early enough that it will arrive by the due date. Write your credit card number on the check, too.
• At a branch: You can make a payment at any PenFed branch during normal business hours.