PenFed Power Cash Rewards Visa Signature

The Power Cash Rewards is a simple flat-rate card: 2% cash back on everything if you qualify for PenFed Honors Advantage through current or former military service or a PenFed Access America checking account, and 1.5% otherwise, all with no annual fee. That distinction matters, because at 2% it competes with the best no-fee flat-rate cards, while at 1.5% it is merely average. New cardholders also get a $100 bonus after $1,500 in spending within three months and 12 months of 0% intro APR on balance transfers, though purchases get no intro period. No foreign transaction fee makes it a reasonable card to take abroad. The catch is that there are no bonus categories or listed perks, so its value rests almost entirely on whether you can unlock the full 2% rate.