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PenFed Promise Visa® Card

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Our rating
Credit range: Fair
Annual Fee: $0
Regular APR: 11.74% to 17.99% Variable
Intro Balance Transfer APR: 4.99% for 12 months with no balance transfer fee now through March 31, 2020

PenFed Promise Visa® Card

Our rating
Fair Credit range
$0 Annual Fee
Apply Now

Highlights & Features

Rewards

INTRODUCTORY BONUS

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

Balance Transfers

A balance transfer is a way to move credit card debt from one credit card to another with the goal of saving money on interest.

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
How to Transfer a Balance on a Credit Card

Fees

Penalty APR None
Late Fee No late fee
Returned Payment Fee None
Additional Cards Annual Fee None
Foreign Transaction Fee None
Learn About Types of Credit Card Fees

Cash Advances

Borrowing cash on your credit card is a cash advance. Cash advances usually come with very high fees. Even worse, cash advances can signal to lenders that you’re being irresponsible with money.

Cash Advance APR 11.74% to 17.99%
Cash Advance Fee None
How to Get a Cash Advance with a Credit Card
ABOUT THE ISSUER

PenFed Credit Union

PenFed Credit Union has several card types depending on your needs.

Manage your Account & Pay your Bill

You can usually pay your bill online on your

Credit card issuer's website

Speak to Customer Service

1-800-581-7786 or

Try a different phone number
See all Issuer Cards
PenFed Promise Visa® Card

Highlights

  • $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 11.99% 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 November 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 11.99% APR

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.