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PenFed Promise Visa® Card Review

Excellent

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What Pentagon Federal Credit Union says about this card

This card is no longer available.
  • $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 October 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

By Curtis Arnold Editor-in-chief  Updated Oct 7, 2019

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. Plus, you will receive a $100 bonus after spending $1,500 within the first 90 days. 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, 11.74% to 17.99% Variable 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.

Top Features

Purchase Intro APR Purchase Intro Regular APR
11.74% to 17.99% Variable 
APR:
N/A
11.74% to 17.99% Variable 

CardRatings Editor's Analysis: Pros & Cons

  • A low ongoing APR along with a nice intro bonus and a lack of fees overall make this card a winner.
  • There’s a low APR on balance transfers for the first 12 months.
  • Earn a $100 bonus after spending $1,500 on purchases in the first 90 days of account opening.

PenFed Promise Visa® Card compared to other low interest cards

Card Name
Regular APR
Purchase Intro
Balance Transfer Intro
Ratings/Apply
PenFed Promise Visa® Card
This card is no longer available.
11.74% to 17.99% Variable 
APR:
N/A
12 months with no balance transfer fee now through March 31, 2020
9.75% variable 
APR:
N/A
N/A

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.





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