PenFed Credit Cards
PenFed is my favorite credit union in the points and travel hobby. Undoubtedly, the highs of some others have outperformed PenFed, but those successful angles generally come and go. Quietly and reliably, PenFed continues to provide us solid rewards. Part of our strategy involves their credit cards – two which we hold, and a third I plan to (finally) acquire. Today, I’m highlighting three PenFed credit cards and why I focus there.
Power Cash Rewards Visa Signature
As its name suggests, this card is a no-fee, uncapped 2% cash back everywhere powerhouse. The card starts as a 1.5% product but easily becomes 2% for Honors Advantage members, which I simply accomplish by parking a measly $500 in an Access America checking account. New Power Cash cardholders can pick up a $100 cash bonus by spending $1.5k in the first 90 days. That’s nothing huge, but it’s nice enough considering that many cash back cards don’t come with signup bonuses. My wife and I have each held Power Cash Rewards accounts for years and don’t see that changing.
Pathfinder Rewards Visa Signature
Adding just a bit more complexity comes with an additional set of rewards. Beyond the Power Cash, travelers should consider the Pathfinder Rewards Visa. Besides, who doesn’t love a nice signup bonus? New cardmembers earn 50k points by spending $3k in the first 90 days. Here’s how rewards earning breaks down:
- Honors Advantage members earn 4x points on all travel categories, while everyone else earns 3x.
- Cardholders earn 1.5x everywhere else.
The Pathfinder also provides cardmember up to $200 in statement credits annually – $100 on domestic ancillary travel fees and another $100 for Global Entry or TSA PreCheck. Point values vary based on redemption method, but I’ve found the best value on Visa e-gift cards, bringing a 0.85 cent per point value. The card’s $95 annual fee is waived for Honors Advantage members. My wife and I picked up Pathfinders soon after our Power Cash accounts and probably enjoy the simple 4x on all travel categories aspect most. In our experience, we’ve easily triggered the ancillary credit via various airline fees.
Platinum Rewards Visa Signature
Maybe the card we’re most overdue to pick up, the no-fee Platinum Rewards Visa offers noteworthy everyday earn rates. New cardholders earn a modest 15k bonus points by spending $1.5k in the first 90 days. Let’s get to the better stuff, though.
- Cardholders earn 5x on gas paid at the pump and at EV charging stations.
- Earn 3x at supermarkets, restaurants, and on TV, radio, cable, and streaming services.
- Earn 1x everywhere else.
What Makes PenFed Great
For years, we’ve had positive experiences with PenFed more than any other credit union. Bank account chores occur quickly and reliably. The accounts are very low-maintenance, too. We avoid monthly fees by simply parking that $500 in our Access America accounts. This simple move is compatible with unlocking other benefits, like the 2% earn rate on the Power Cash and 4x travel earning and the waived annual fee on the Pathfinder. But what I like most is next.
PenFed credit card rewards post remarkably fast. Within a couple days of a transaction posting, the related rewards are in my account and redeemable. There’s no wondering about bonus category triggers or waiting around for a statement to cut for access to those rewards. In my experience, new PenFed credit accounts come with relatively high credit limits, and others I’ve talked to have noticed the same.
These three PenFed cards complement each other rather well, in my view. The Pathfinder and Platinum cards offer generous bonus categories which don’t overlap, while the 2% cash back card comes in handy for all that “everywhere else” spend. While many tout a “trifecta” of cards from one big bank or another, I have more affection for PenFed’s version.
Penfed Credit Cards – Conclusion
As I write this, I’m kicking myself for not picking up the Platinum Rewards Visa earlier. I’ve known it as a great earner, but we’ve just never gotten around to considering it more. We hope to pick up one or two of those cards pretty soon. Bigger picture, I encourage everyone to take a closer look at credit unions, including Penfed, to improve your rewards scene.
What are you favorite credit unions and why?
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1. Can you pay Credit card bills with a debit card?
2. Are you able to do a direct cashout for the Penfed points?
How do you redeem pathfinder rewards for good value? Have been very dissatisfied with their travel portal.
R,
I covered that above in the “PenFed Pathfinder Visa Signature” section.
You really need to look into Redstone Credit Union. 5% on gas, 5% on Restraunts, 3% on grocery including Wholesale cubs and WALMART, and Utilities. no foreign transaction fee’s…. No anual fee Few hoops to join… definity worth it. you can ditch “pinford” with this ONE SINGLE card.
What about travel?
Travel: 5% on Amex Plat, 2% Capital One Venture X(catch all), Just about ALWAYS working on signup bonus with 5 family members (chase points transfer easily between card holders, as well as AA Business cards escecially when need to top off other people’s AA accounts (with NO transfer fees!)). However, will use whatever card gets me most return points or cash. Points/Miles devalue when sitting around, Cash does not.
Redstone visa signature has $8k max on spend catagories unlike any other cash back card. Redstone is the ONLY cash back card you need. Get rid of ALL the rest with quirky things to track and CC fees. Simply the best out there.
You are welcome!
Capped at $8k is crippling for a cash back card taking a 5/24 slot. At higher volumes Penfed appears to be superior. Am I missing something?
Yep, I’m familiar with that one Mike J. – definitely solid! That said, PenFed is relatively easier to join, in my experience, and earn rates are uncapped (as D mentioned above). I agree points/miles devalue when sitting around, but as I described in the “What Makes PenFed Great” section, PenFed’s rewards are immediately redeemable!
Is that $8k a month or a year?
All PenFed cards have no foreign transaction fees.
Also, amusement parks code as travel.