The PenFed Power Cash Rewards credit card bonus is $100.
The card earns a flat 1.5% (or 2% with a checking account) on all purchases.
If you aren’t familiar with Penfed, it’s a credit union but doesn’t require military service.
In fact, long time readers will remember that we opened our mortgage with Penfed years ago. From time to time, they also offer CDs that pay above market rates.
The $100 sign up bonus is our Free Money [1] Friday offer this week!
How to Get Your $100 Bonus
- Join Penfed credit union if you aren’t already a member and open a share account with $5.
- Sign up for the PenFed Power Cash Rewards credit card*.
- Make at least $1,500 in purchases in the first 3 months.
- Receive a $100 bonus.
*Find and compare all current credit card offers in our credit card directory [2].
PenFed Terms and Conditions
- No annual fee.
- No foreign transacation fees.
More on PenFed
Earning Cash Back. Earn 1.5% cash back on everything. There are no limits on how much you can earn and no rotating quarters [3].
Bonus Cash Back. You can earn 2% cash back on everything if you join the PenFed Honors program. To join you can maintain a Penfed checking account or qualify with military service.
Redeeming Rewards. You can redeem your rewards for a statement credit or an electronic deposit into your bank account.
PenFed Membership. To open a credit card with PenFed you need to be a credit union member and open a share/savings account with $5. To join PenFed, you need to qualify. When you join, browse the drop down list of organizations or locations. If you don’t see one that you belong to, you can always make a one time $17 donation to the national military family association.