dcsimg

Our credit card articles, reviews and ratings maintain strict editorial integrity; however we may be compensated when you click on or are approved for offers from our partners. How we make money.

This card is no longer available.
About Our Ratings
Credit Needed
Excellent

PenFed Promise Visa® Card Review

Pros & Cons

  • This card is king of no-fee credit cards with no annual fee, no balance transfer fee, no foreign transaction fee and no late fee.
  • There’s a low 4.99 percent APR on balance transfers for the first 12 months.
  • A couple of introductory offers allow you to earn bonus statement credits for qualifying balance transfers and spending.

Top Features

Purchase APR
9.24% to 17.99% Subject to credit approval.* Your APR will vary with the market based on the Prime Rate.
Purchase Intro
APR:
N/A
Annual Fee
$0

Full Review

Curtis Arnold Editor-in-chief
Pentagon Federal Credit Union serves members of DOD-related groups such as military, defense related companies, Homeland Security, VFW, and more. What I like best is how the card features no annual fee, no foreign transaction fee, no late fee, no balance transfer fee and no penalty APR. Along with other credit criteria as set by PenFed, excellent credit is required--although credit requirements vary by card issuer, an excellent credit score is loosely defined as currently being in the 730-850 range. This card offers a low introductory balance transfer APR, subject to credit approval. Thereafter, the APR for the unpaid balance and any new balance transfers will vary with the market based on the Prime Rate and is based on your creditworthiness.
This page was last updated on August 09, 2017

This card compared to other low interest cards

Card Name
PenFed Promise Visa® Card
Purchase APR
9.24% to 17.99% Subject to credit approval.* Your APR will vary with the market based on the Prime Rate.
8.25% (Variable) 
13.99% Variable 
Purchase Intro
APR:
N/A
APR:
None
APR:
0%
Period:
15 months
Balance Transfer Intro APR
4.99%
8.25% (Variable)
0%
Balance Transfer Intro Period
12 months
N/A
15 months (on balance transfers made within 45 days of account opening)
Annual fees
$0
None
$0
Rates and Fees
This card is best suited for those eligible credit union members who are looking for a long term low introductory rate and no fees.
CardRatings.com Editorial Staff

PenFed Promise Visa® Card details

Balance Transfer Intro APR
4.99%
Balance Transfer Intro Period
12 months
Purchase Intro
APR:
N/A
Purchase APR
9.24% to 17.99% Subject to credit approval.* Your APR will vary with the market based on the Prime Rate.
Annual Fee
$0
see more  

Credit Card Rate Information:


 
  Purchase
  Balance Transfer
  Cash Advance
Index:
 Prime
 Prime
 Prime
Margin:
 4.74 - 13.74
 4.74 - 13.74
 4.74 - 13.74
APR:
  9.24% to 17.99%
Subject to credit approval.* Your APR will vary with the market based on the Prime Rate.
 9.24% to 17.99% Subject to credit approval.* Your APR will vary with the market based on the Prime Rate.
 9.24% to 17.99% Subject to credit approval.* Your APR will vary with the market based on the Prime Rate.
APR Floor:
 
 
 None
Intro Rate:
 N/A
 4.99%
 None
Intro Period:
 N/A
 12 months
 N/A


Finance Calculation Method:
 Average Daily Balance (including new purchases)
Default/Penalty APR:
 None
Default/Penalty Margin:
 None
Default/Penalty APR Floor:
 
Penalty/Default Trigger:
 

Credit Card Fee Information:


Annual Fee:
 $0
Foreign Transaction Fee:
 None
Late Fee:
 No late fee
Over-the-limit Fee:
 None
Balance Transfer Fee:
No balance transfer fee  


Notes:

Rebate Description:
 
Special Notes:
 
Credit Card More Information:

Card Issued By:
 Pentagon Federal Credit Union
General Correspondence Address:
PO Box 1432
Alexandria, VA 22313
Card Type:
 Visa
Card Class:
 Platinum
Card Category:
 Primary Category Cards - Low Interest, Low Interest
States Available In:
 
Minimum Credit Limit:
 
Maximum Credit Limit:
 
Credit Limit Notes:
 

What Pentagon Federal Credit Union says about this card

  • 4.99% APR promo balance transfer rate for 12 months with no balance transfer fee now through September 30, 2017. After that, the APR for the unpaid balance and any new balance transfers will be 9.24% to 17.99%. APR will vary w/the market based on Prime Rate. Subject to credit approval. $100 bonus after spending $1,500 in purchase transactions within 3 months of account opening.
  • Rate and offers current as of August 1, 2017 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
  • Rates as low as 9.24% APR

Credit Card Consumer Average Ratings:

Overall Ratings
Reward Program
Card Benefit
Customer Service

Credit Card Consumer Reviews:

  1. Overall Ratings:
    Reward Program:
    Card Benefit:
    Customer Service:
    HORTENSIA ( Jan 26, 2015 at 1:28 pm)

    I am 64 years old. PenFed has provided me with the highest service level of cards, auto loans and banking bar none.


Write Consumer Reviews:





E-Mail will not be published









Special offers
Currently available on the PenFed Promise Visa® Card
$100 bonus
After spending $1,500 in purchase transactions within 3 months of account opening.

Start Here

Search. Compare. Apply.

Apply online for Simmons Bank Visa® Platinum

Simmons Bank Visa® Platinum

  • Created for those with EXCELLENT CREDIT and approval is based on your credit rating and application review.
  • Low 8.25% variable standard purchase APR and platinum benefits
  • No balance transfer fee for balances transferred
  • No Annual Fee
Credit Needed:
Excellent
Apply online for Barclaycard Ring™ Mastercard®

Barclaycard Ring™ Mastercard®

  • 0% Introductory APR for the first 15 months on purchases. Plus, you'll get a 0% introductory APR for 15 months on Balance Transfers made within 45 days of account opening. After that, a variable APR will apply, 13.99%
  • No balance transfer fees
  • No foreign transaction fees
  • Chip technology, so paying for your purchases is more secure at chip-card terminals in the U.S. and abroad
  • Free online access to FICO® Credit Score
Credit Needed:
Excellent