PenFed Power Cash Rewards Visa Signature® Card
vs. Discover it® Chrome

The PenFed Power Cash Rewards Visa Signature® Card and Discover it® Chrome offer appealing cash back rewards and no annual fees, which is a common ground for those seeking straightforward, cost-effective benefits. However, the Discover it Chrome edges ahead with its introductory 0% APR offer on purchases and balance transfers.

With the PenFed Power Cash Rewards card, customers have the potential to earn high cash back rewards on every purchase, making it a strong contender for everyday spending.

You might prefer the PenFed Power Cash Rewards if you value a straightforward cash back program with a flat rate on all purchases. If you're a PenFed Honors Advantage Member, the 2% cash back on all purchases is particularly attractive. Additionally, the lower non-variable APR after the introductory period can be more cost-effective in the long run.

You might prefer the Discover it Chrome if you frequently dine out or spend on gas, as you'll benefit from up to 2% cash back in these categories. The card's first-year cash back match can significantly boost your rewards if you're a new cardholder. The longer 0% introductory APR on balance transfers is also an advantage if you're planning to transfer a balance.

Evaluating APRs, fees, credit requirements, rewards and other features clarifies which card aligns with your financial habits. For instance, if you frequently dine out or drive, Discover it Chrome's bonus categories might appeal to you, whereas PenFed Power Cash Rewards offers consistent cash back on all purchases for members. Assess each card's introductory offers and fees to determine your potential savings and costs.

When it comes to rewards, the PenFed Power Cash Rewards edges out with a higher expected reward value and percentage, making it a strong contender for those seeking a straightforward cash back program on all purchases.

The Discover it Chrome card stands out for its bonus categories, offering a higher rewards rate for gas and dining expenses, capped at a certain limit each quarter.

The table below outlines the bonus categories for both cards, allowing you to compare and determine which card best aligns with your spending habits.

PenFed Power Cash Rewards offers simple and flexible cash back redemption at any time. You can receive your rewards as statement credit, by depositing them into your PenFed account or by transferring to another account of your choice.

Discover it Chrome also allows for versatile redemption options, including gift cards, charitable donations, statement credits, direct deposits and even Amazon payments.

Both cards ensure your rewards remain available for use, as they do not expire.

MoneyGeek's ranking process evaluates credit cards across various use cases, such as balance transfers and cash back rewards. The PenFed Power Cash Rewards scores highest in the cash back category, emphasizing the value of rewards and cost-effectiveness. The Discover it Chrome scores highest for balance transfers, focusing on the introductory APR and ongoing interest rates.

The four most significant factors influencing these scores are the effective reward rate, annual fees, introductory purchase APR and regular APR. For a detailed understanding of our scoring process, you can review our ranking methodology.