PenFed Gold Visa® Card

PenFed Gold Visa® Card Review

This is a card issued by PenFed Credit Union. If you're wondering whether PenFed Gold Visa is the right card for you, read on.

Key Takeaways

• 0% APR balance transfer intro rate. Offers an introductory 0% APR rate on balance transfers for up to 15 months, which is longer than the average 0% APR period of 12 months.
• 0% APR on new purchases. New cardholders receive an introductory 0% APR rate on new purchases for up to 15 months.
• High APRs. This is not a great card for people who carry a balance. It has a variable purchase APR of 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 3% on balance transfers. For example, a balance of $1,000 could cost $30 in transfer fees.
• No foreign transaction fee. This card does not charge a fee when you make a purchase that passes through a foreign bank, or is in a currency other than the U.S. dollar (USD), which makes it a great credit card to carry when traveling abroad.
• Multiple credit card benefits. Includes generous credit card perks, such as emergency support, identity theft protection, travel accident insurance, and fraud protection.
• Good or better credit required. You will have low approval odds if your credit score is below 700.

Pros & Cons of PenFed Gold Visa

The Good	The Bad
0% APR balance transfer intro rate on balance transfers for up to 15 months. 0% APR on new purchases during the first 15 months. There is then a variable purchase APR of 17.99%. No annual fee. Multiple credit card perks. Identity Theft Protection. Travel accident insurance. No foreign transaction fee. PenFed Gold Visa® Card reports to multiple credit bureaus.	Higher than average purchase APRs. You need good credit to qualify. Does not offer a signup bonus. Does not offer rewards or cash back. You don't earn rewards on every purchase. Charges a 3% balance transfer fee

PenFed Gold Visa FAQ

Does PenFed Gold Visa have a cash back or rewards program?

No, it does not offer a rewards program.

What are the PenFed Gold Visa benefits?

It provides the following benefits:

• Emergency Support
• Zero fraud liability
• Travel Accident Insurance
• Reports to major credit bureaus

What are the relevant APRs for PenFed Gold Visa?

According to the Federal Reserve Board, the average regular APR is 15% for all credit cards and 17% for accounts that carry a balance. This card has higher than average regular APRs.

PenFed Gold Visa® Card has a variable purchase APR of 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.

What are the fees for PenFed Gold Visa?

The following fees apply:

• There is no overlimit fee

PenFed Gold Visa® Card Fees

Description
Cash Advance Fee Minimum	$0
Cash Advance Fee (%)	0%
Foreign Currency Transaction Fee	0%
No Annual Fee?
No Foreign Transaction Fee?
Annual Fee	$0
Minimum Interest Charge	$0
Over-Limit Fee	$0
No Interest Grace Period for Late Payment	25 days
Returned Payment Fee	Up to $25
Late Fee Amount	Up to $28

This card does not charge an annual fee, which makes it a smart choice for consumers looking for a low-cost card.

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

Yes, 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 may help improve your credit.

How to apply for PenFed Gold Visa

• Visit the PenFed Gold Visa 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 your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.