PenFed Gold Visa® Card Review
PenFed Gold Visa® Card is a
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.
- 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
that ranges from
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.
- 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.
- Good or better credit required. You should probably try with another card if your credit score is below 700.
PenFed Gold Visa® Card Pros & Cons
- Lower than average purchase APRs.
- 0% APR balance transfer intro rate on balance transfers for up to 12 months.
- No annual fee.
- Identity Theft Protection.
- 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 benefits.
PenFed Gold Visa® Card FAQ
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
- 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
that ranges from
up to 17.99%.
The card has a
balance transfer APR
It also has a
cash advance APR
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
|Balance Transfer Introductory APR
|Balance Transfer Intro APR Period
|Balance Transfer APR
|Balance Transfer Fee %
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
What are the fees for PenFed Gold Visa® Card?
The following fees apply to PenFed Gold Visa® Card:
PenFed Gold Visa® Card Fees
|Foreign Transaction Fee
|Returned Payment Fee
||up to $25
|Late Payment Fee
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?
Yes, PenFed Gold Visa® Card reports your account activity to the following credit reporting agencies:
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® 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 your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.
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