Navy Federal Credit Union Visa Signature cashRewards Card
vs. PenFed Power Cash Rewards Visa Signature® Card

Both the Navy Federal Credit Union Visa Signature cashRewards Card and the PenFed Power Cash Rewards Visa Signature Card offer enticing cash back rewards without the burden of annual fees, making them both strong cards. However, the Navy Federal cashRewards edges ahead with its lower APR and the flexibility of a lower credit score requirement, making it more accessible.

While the PenFed Power Cash Rewards offers a competitive balance transfer offer, the Navy Federal cashRewards card's broader accessibility and lower APR make it the superior choice for most users. Still, those eligible for PenFed's Honors Advantage program may find the additional cash back benefit compelling enough to sway their decision.

You might prefer the Navy Federal cashRewards if you have a military background and can enroll in direct deposit to earn a higher cash back rate of 1.75%. The card's $300 bonus after a $3,000 spend within 90 days is also appealing if you plan on making significant purchases soon.

You might prefer the PenFed Power Cash Rewards if you are a PenFed Honors Advantage Member aiming for a higher ongoing cash back rate of 2%. Additionally, if you're considering transferring a balance, the card's 0% introductory APR for 12 months on balance transfers could provide financial flexibility.

Evaluating APRs, fees, credit requirements, rewards and introductory offers will illuminate which card aligns with your financial needs. For instance, if you're planning a large purchase, the Navy Federal cashRewards card's lower APR range may be appealing. Alternatively, if you're transferring a balance, PenFed Power Cash Rewards offers a 0% introductory APR. Assess these features side by side to discern the card that best suits your spending patterns.

The Navy Federal cashRewards is better than the PenFed Power Cash Rewards in terms of rewards, offering a higher cash back rate of 1.75% for those with direct deposit. Without direct deposit, both cards offer a standard 1.5% back on purchases.

However, PenFed Power Cash Rewards becomes more appealing for PenFed Honors Advantage Members, who earn 2% back on all purchases. While both cards have no annual fee, the higher rewards rate for Navy Federal cashRewards members with direct deposit makes it a slightly better option for general spending.

For PenFed Power Cash Rewards, the most compelling feature is the 2% cash back for Honors Advantage Members, which matches the Navy Federal cashRewards for those with direct deposit. If you're already a PenFed member or plan to become one, especially if you qualify for the Honors Advantage program, this card could be equally rewarding.

Below is a table of bonus categories to help you visually compare the rewards programs of both cards.

Both the Navy Federal cashRewards and PenFed Power Cash Rewards offer straightforward cash back redemption options. Neither card imposes an expiration date on rewards, ensuring you can use them at your convenience.

The Navy Federal cashRewards card allows you to redeem cash back without a minimum threshold, which means you can access your rewards as soon as they're available. Similarly, the PenFed Power Cash Rewards card offers unfettered access to your cash back, ensuring you can redeem your rewards whenever it suits you best.

MoneyGeek evaluates credit cards like the Navy Federal cashRewards and PenFed Power Cash Rewards based on their performance in various use cases. For this comparison, we focus on the cash back category, where each card has its highest score. The evaluation considers factors such as the value of rewards and the benefits of offers.

Four key aspects contribute to the overall score: the effective cash back rate, the return on investment for offers, annual fees and issuer satisfaction. For a detailed understanding of our scoring process, you can review our ranking methodology.