And the PenFed Power Cash Rewards Visa Signature® Card does double-duty as both a cash-back card and a potential balance transfer card. It offers an intro 0% introductory APR for 12 months on balance transfers made in the first 90 days after account opening.

PenFed Power Cash Rewards Visa Signature Card basics Rewards: 2% cash back on all purchases for PenFed Honors Advantage members and 1.5% cash back for everyone else. Regular APR: 0% intro APR for 12 months on balance transfers, then a non-variable APR of 17.99%. Balance transfers incur a 3% fee per transaction.

The PenFed Power Cash Rewards Visa Signature® Card offers a decent 1.5% cash-back rate on all purchases. You can redeem cash back for statement credit or a deposit into a qualifying PenFed bank account. With no foreign transaction fees, this credit card is well-equipped for travel.

No Foreign Transaction Fees: You won't be charged extra for using your PenFed card outside of the U.S.

A cash back or cash rewards credit card gives you cash rewards for spending. The reward is usually a percentage of the amount you spend. Therefore, if a card offers 1 percent cash back, spending $4,500 over the course of a year would give you a reward of $45.

You can send and receive cash using your PenFed checking account and services such as Square Cash, PayPal, and Venmo.

Cash back refers to a credit card benefit that refunds the cardholder's account a small percentage of the sum spent on purchases. Cash back rewards are actual cash that can be applied to a credit card bill or received as a check or bank account deposit.

No, cash back is not free money. You need to make a purchase with your card to earn cash back. Cash-back rates typically range from 1% to 5%, so you will still be paying for the majority of your purchase out of pocket.

You can withdraw money from your account in the following ways: No-fee cash withdrawals at 85,000+ ATMs through Allpoint Network, Co-op Shared Branch Networks and PenFed Branches in the US.

You can use your credit card at an ATM to withdraw cash the same way you would withdraw from checking. You'll need a PIN for your credit card to do this. If you don't already have a PIN for your card, you can request one from your issuer, which may take as much as a week to set up.

For all accounts, PenFed will charge an international fee of up to 2% of the transaction amount at non-U.S. banks. For transactions occurring at non-PenFed ATMs, the ATM operator/owner may impose a fee for the use of their ATM. Monday through Friday, excluding federal holidays.

Wire Transfers You will need to provide your account number at the other financial institution as well as their ABA routing number. Keep in mind that PenFed charges $25 for a domestic wire transfer and $30 for an international wire transfer. Other fees may apply at the receiving financial institution.