PenFed's Power Cash Rewards card gives a $100 statement credit if you spend $1,500 on purchases within the first 90 days of opening the account. The credit shows up about 4 weeks after you hit the spending threshold.
Eligibility
Available nationwide
No state restrictions on this offer.
Hard credit inquiry
Applying posts a hard pull to your credit report.
How to get the PenFed Power Cash Rewards bonus
- Apply for the PenFed Power Cash Rewards Visa Signature card.
- Use the card to make at least $1,500 in purchase transactions within 90 days of account opening.
- Wait up to 4 weeks after reaching the spend threshold to receive the credit.
- Keep the account open and in good standing to qualify.
The fine print that matters
- Cash advances, cash-like transactions, credit card checks, balance transfers, and account fees do not count toward the spending requirement.
- Each account is eligible for only one $100 statement credit.
- Allow 4 weeks after spending $1,500 to receive the statement credit.
- Card has no annual fee and no foreign transaction fees.
Verification and reports
Confirmed against penfed.org on Jul 19, 2026. Based on 0 field reports. Status Limited reports is computed from those reports, never hand-set.
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Sources: penfed.org offer page (checked Jul 19, 2026)
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