The standard 1.5% cash back is used in the application.
Active duty, reserve, or retired military service, the National Guard, the Reserves, an honorably discharged veteran or retired from the United States Military of the primary borrower will receive the PenFed Honors Advantage 2% upon completion of the application.
If you have a checking account (except a PenCheck Limited Account), you’ll receive the upgrade to the PenFed Honors Advantage 2%. If you need to open a new checking account (except a PenCheck Limited Account), you’ll receive the upgrade to the PenFed Honors Advantage 2% within one business day of opening that checking account.