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  PenFed Gold Visa® Card

PenFed Gold Visa® Card

in Personal Credit Cards from PenFed Credit Union

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PenFed Gold Visa® Card

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in Personal Credit Cards from PenFed Credit Union

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Highlights
Highlights
Purchase APR  (Variable APR) 7.49% - 17.99%
Balance Transfer APR  (Variable APR) 17.99%
Credit Score Range 700 - 850
Annual Fee $0

PenFed Gold Visa® Card Review

PenFed Gold Visa® Card is a credit card issued by PenFed Credit Union. If you're wondering whether PenFed Gold Visa® Card is the right card for you, read on. This is everything you need to know to make a good choice.

Key takeaways:

  • 0% APR balance transfer intro rate. Offers an introductory 0% APR rate on balance transfers for up to 12 months, which is the average period for 0% APR balance transfer cards.
  • Signup bonus. Offers a signup bonus of $100 if you spend $1500 within 3 months.
  • Competitive APRs. PenFed Gold Visa® Card has a variable purchase APR that ranges from 7.49% up to 17.99%.
  • No annual fee. This is a great option for people looking for a low-maintenance card. It gives you the benefits of a credit card, but you don't have to pay an annual fee for the privilege.
  • 3% Balance transfer fee. PenFed Gold Visa® Card charges a fee of up to 3% on balance transfers. For example, a balance of $1,000 could cost up to $30 in transfer fees.
  • $0 foreign transaction fee. This card does not charge foreign transaction fees, which makes a great credit card to carry with you when traveling abroad.
  • Good or better credit required. You should probably try with another card if your credit score is below 700.

PenFed Gold Visa® Card Pros and Cons:

The Good The Bad
  • Lower than average purchase APRs.
  • 0% APR balance transfer intro rate on balance transfers for up to 12 months.
  • No annual fee.
  • No foreign transaction fee.
  • PenFed Gold Visa® Card reports to multiple credit bureaus.
  • Requires good to excellent credit.
  • Does not offer rewards or cash back.
  • You don't earn rewards on every purchase.
  • Charges a 3% balance transfer fee.
  • Does not include many credit card rewards.

Is there a PenFed Gold Visa® Card cash back or rewards program?

No, PenFed Gold Visa® Card does not offer a rewards program.

What are the PenFed Gold Visa® Card benefits?

PenFed Gold Visa® Card provides the following benefits:

  • Zero fraud liability
  • ID Theft Protection
  • Reports to major credit bureaus

What are the relevant APRs for PenFed Gold Visa® Card?

According to the Federal Reserve Board, the average interest rate is 15% for all credit cards and 17% for accounts that carry a balance. PenFed Gold Visa® Card has lower than average purchase APRs.

PenFed Gold Visa® Card has a variable purchase APR that ranges from 7.49% up to 17.99%. The card has a variable balance transfer APR of 17.99% . It also has a variable cash advance APR of 17.99% . Note that late payments are subject to an APR of 17.99% if you are late or miss your payments. Typically, the penalty APR applies for a minimum of six months but can go on indefinitely.

Does PenFed Gold Visa® Card have an introductory APR offer on balance transfers?

Yes, PenFed Gold Visa® Card offers an introductory APR rate on balance transfers of 0% for a period of up to 12 months.

PenFed Gold Visa® Card Balance Transfers
Description
Balance Transfer APR 17.99%
Balance Transfer Introductory APR 0%
Balance Transfer Intro APR Period (months) 12
Balance Transfer Fee % 3%
Balance Transfer Fee % After Intro Period N/A
Balance Transfer Fee Intro Period (days) N/A
Balance Transfer Fee Minimum N/A

Does PenFed Gold Visa® Card have an introductory APR offer on new purchases?

PenFed Gold Visa® Card does not offer an introductory rate on new purchases.
PenFed Gold Visa® Card Purchase Intro Offer
Description
Introductory Rate N/A
Purchase Intro APR Period (months) N/A

What are the fees for PenFed Gold Visa® Card?

The following fees apply to PenFed Gold Visa® Card:

PenFed Gold Visa® Card Fees
Fees Amount
Annual Fee $0
Foreign Transaction Fee 0%
Returned Payment Fee up to $25
Late Payment Fee $20 - $28

Does PenFed Gold Visa® Card have a foreign transaction fee?

PenFed Gold Visa® Card does not charge foreign transaction fees. If you are a frequent traveler, this can save you hundreds of dollars in credit card fees when you travel out of the country.

Does PenFed Gold Visa® Card report your account activity to credit bureaus?

PenFed Gold Visa® Card reports your account activity to the following credit reporting agencies:

  • Equifax
  • Experian
  • Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and can help improve your credit score.

How to apply for PenFed Gold Visa® Card

  • Visit the PenFed Gold Visa® Card website.
  • Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
  • Check the information is accurate and submit your application.
  • If you're denied click here to find out why your application may have been rejected and what you can do about it.

If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.

SUPERMONEY Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Cash Advance Fee Minimum $0
Minimum Cash Advance Fee ($) $0
Foreign Currency Transaction Fee 0%
No Annual Fee  
No Foreign Transaction Fee  
Annual Fee $0
No Interest Grace Period for Late Payment 25 days
Returned Payment Fee Up to $25
Late Fee Amount $20 - $28
Customer Type Personal
Minimum Age 18
Supported Income Types
  • 1099 Misc. Income
  • Cash
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Credit Score Range 700 - 850
Card Type Low Interest
Card Network Visa
Credit Bureau Reporting
  • Equifax
  • Experian
  • TransUnion
Fraud Liability  
Credit Card Benefits
  • Fraud Liability
  • Identity Theft Protection
Signup Bonus $100
Rewards Type No Rewards
Cash Advance APR (Variable APR) 17.99%
Balance Computation average daily balance (including new purchases).
Penalty APR (Variable APR) 17.99%
Purchase APR (Variable APR) 7.49% - 17.99%
Balance Transfer Introductory APR (Variable APR) 0%
Balance Transfer Intro APR Period (Variable APR) 12 months
Balance Transfer APR (Variable APR) 17.99%
Balance Transfer Fee % 3%

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SUPERMONEY NET RECOMMENDATION SCORE

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Balance Transfer APR 12.49% - 17.99%
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Balance Transfer APR 17.99% Variable APR
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