PenFed Power Cash Rewards Visa Signature® Card
vs. USAA® Cashback Rewards Plus American Express® Card

Both the PenFed Power Cash Rewards Visa Signature® Card and the USAA® Cashback Rewards Plus American Express® Card offer compelling cash back rewards without annual fees, appealing to savvy spenders. However, the PenFed Power Cash Rewards edges out slightly with a higher cash back potential for PenFed Honors Advantage Members and a lower required credit score, making it more accessible.

The USAA Cashback Rewards Plus offers up to 5% cash back in specific categories, but the lack of a welcome bonus and a higher credit requirement might limit its appeal. Still, this card's targeted rewards are worth considering for those who frequently spend at gas stations and military bases.

You might prefer the PenFed Power Cash Rewards if you value simplicity in your rewards program. This card keeps it straightforward with a flat cash back rate on all purchases and a potential for higher earnings for PenFed Honors Advantage Members. The absence of an annual fee and a competitive balance transfer offer can make it a solid choice for many consumers.

You might prefer the USAA Cashback Rewards Plus if you spend a lot on gas and groceries. With up to 5% cash back in these categories, you can maximize your rewards where it counts. Additionally, the longer 0% introductory APR period on balance transfers can provide valuable breathing room if you're planning to pay down existing debt.

Evaluating APRs, fees, credit requirements, rewards and other features clarifies which card aligns with your financial needs. For instance, if you're a military member who frequents base gas stations, USAA Cashback Rewards Plus could be lucrative. Conversely, PenFed Power Cash Rewards may appeal to those seeking consistent cash back on all purchases. Assess each card's details to pinpoint the one that fits your spending habits.

The PenFed Power Cash Rewards edges out with a higher overall cash back rate, especially for PenFed Honors Advantage members, offering 2% on all purchases. For non-members, it still provides a solid 1.5% back across the board.

While not as robust overall, the USAA Cashback Rewards Plus card is strong in its 5% cash back category for gas and military base purchases, capped at $3,000 annually, and 2% for grocery store spending up to $3,000 per year. Outside these categories, it defaults to 1% cash back on other purchases. For those with heavy gas spending or who shop frequently on military bases, the USAA card could be more lucrative in these specific areas.

The table below details the bonus categories for each card to help you compare at a glance.

The PenFed Power Cash Rewards card keeps it simple. Your cash back does not expire, ensuring you can use your rewards when it suits you best. You can redeem rewards as statement credit, as a deposit into your PenFed account or as a transfer to another account you choose.

The USAA Cashback Rewards Plus card also offers non-expiring rewards, with the added benefit of redeeming your cash back in $1 increments, giving you precise control over how and when you use your rewards.

MoneyGeek evaluates credit cards like the PenFed Power Cash Rewards and USAA Cashback Rewards Plus based on their performance in various use cases, such as cash back, which is their highest scoring category. The scoring reflects how well each card serves its intended use case, with a focus on the effective reward rate and the return on investment for offers. These factors and other considerations, such as annual fees and issuer satisfaction, contribute to a card's overall score. For a detailed understanding of our ranking process, you can review our ranking methodology.