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PenFed Power Cash

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New Member

PenFed Power Cash

Does anyone know if you can redeem the cash rewards into an external bank?

Are the pre approved offers still only a soft pull if you accept?

I heard the travel card doesn’t give 1.5 on all purchases (devalued) so was just considering the cash back card.
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Super Contributor

Re: PenFed Power Cash


@BigHair wrote:
Does anyone know if you can redeem the cash rewards into an external bank?

Are the pre approved offers still only a soft pull if you accept?

I heard the travel card doesn’t give 1.5 on all purchases (devalued) so was just considering the cash back card.

Yes you can redeem the cash rewards to an external bank account.

 

I can't answer your soft pull question, but knowing PenFed I doubt it; they seem to HP for everything.


Total revolving limits 644500 (568500 reporting)



Message 2 of 6
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Community Leader
Mega Contributor

Re: PenFed Power Cash

Id imagine if the preapproval was in your offers, most likely sp but like SJ said, with PF, might be best to expect one and be joyous that there isnt oneSmiley Wink
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Frequent Contributor

Re: PenFed Power Cash

If you're talking about the quarterly offers they are still a soft pull approval.

Message 4 of 6
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Established Contributor

Re: PenFed Power Cash

I should login to my account quarterly to see if there's a pre-approval offer? Also, I only have a savings account but if I were to open up a checking account, they would do a HP? How about if I apply for a credit card after the checking account, would it be in result of 2 HP or just 1? Thanks.
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Moderator

Re: PenFed Power Cash


@TheBoondocks wrote:
I should login to my account quarterly to see if there's a pre-approval offer? Also, I only have a savings account but if I were to open up a checking account, they would do a HP? How about if I apply for a credit card after the checking account, would it be in result of 2 HP or just 1? Thanks.

If you're already a PenFed member, then there should not be a HP for opening the checking account, only if you opt to apply for the overdraft LOC.  If you apply for a credit card, it will be a HP. 

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