PenFed Promise Visa® Card


For People with
Fair Credit

REVIEWS

Reviews

The PenFed Promise Visa® Card is a low interest card that comes with absolutely no fees, but also without spending rewards or outstanding benefits.

You won’t incur any annual fee, foreign transaction fees, balance transfer fee, or cash advance fee. You won’t necessarily get everything that comes with other popular balance transfer cards, but you will get a $100 statement credit if you can manage to spend $1,500 in the first 3 months of opening your account.

This card also offers a 4.99% promotional balance transfer APR for 12 months with no balance transfer fee now through March 31, 2020, and then the APR for any unpaid balance or any new balance will be 11.74% to 17.99% Variable based on your creditworthiness, which includes an evaluation of your credit history and the length of your PenFed membership and will vary with the market based on the Prime Rate. This transaction is subject to credit approval. If you take advantage of this balance transfer, you will immediately be charged interest on all purchases made with your credit card unless you pay the entire account balance, including balance transfers, in full each month by the payment due date.

To apply for this product, you must become a member of PenFed. You can check the membership requirements for PenFed here. PenFed is federally insured by NCUA.

Card Quick Facts

Card Quick Facts

  • $100 bonus after spending $1,500 in purchase transactions within the first 90 days of account opening.
  • 4.99% APR promo balance transfer rate for 12 months with no balance transfer fee now through March 31, 2020. After that, the APR for the unpaid balance and any new balance transfers will be 11.74% to 17.99%. APR will vary w/the market based on Prime Rate. Subject to credit approval. If you take advantage of this balance transfer, you will immediately be charged interest on all purchases made with your credit card unless you pay the entire account balance, including balance transfers, in full each month by the payment due date.
  • Rate and offers current as of September 1, 2019 and are subject to change.
  • Absolutely no fees
  • No annual fee
  • No late fee
  • No cash advance fee
  • No foreign transaction fees
  • Chip enabled for added security
  • Federally insured by NCUA
  • Variable rate as low as 11.74% APR

For People with
Fair Credit

REVIEWS

Reviews

Manage My Card

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Card Details

Rewards

Rewards

This card does not offer rewards.

Introductory Bonus

  • $100 statement credit after spending $1,500 in the first 90 days after account opening
Card Stats

Card Stats

Annual Fee $0
Additional Cards Annual Fee -
Regular Purchase APR 11.74% to 17.99% Variable
Intro Purchase APR -
Foreign Transaction Fee None
Chip Technology Chip-and-Signature & Chip-and-PIN
Minimum Credit Limit -
Maximum Credit Limit -
Free Credit Score Yes
Penalty APR None
Late Fee No late fee
Returned Payment Fee -
Balance Transfers

Balance Transfers

Intro Balance Transfer APR 4.99% for 12 months with no balance transfer fee now through March 31, 2020
Regular Balance Transfer APR 11.74% to 17.99% Variable
Balance Transfer Fee No balance transfer fee
Cash Advances

Cash Advances

Cash Advance APR 11.74% to 17.99%
Cash Advance Fee None

Card Benefits

Check your card’s Guide to Benefits to learn the specific benefits your card offers and how to access them.

  • Fraud Protection

    You will not be held responsible for unauthorized use of your card.

  • Auto Rental Collision Damage Waiver

    Provides coverage against theft and collision for eligible rental cars, as long as the car rental company’s own insurance is declined.

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