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PenFed Promise Visa Card

in Personal Credit Cards

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PenFed Promise Visa Card

Unaffiliated

in Personal Credit Cards

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Overview

Who is PenFed Promise Visa Card Designed For?

PenFed Promise Visa Card is designed for people with good to excellent credit who want a no-frills credit card with no annual fee, low rates and no penalty fees. The PenFed Promise Visa Card also gives new cardholders a 12-month introductory rate of 4.99% APR on balance transfers, which will please people who carry a balance on their current credit card.

What are the Rates for PenFed Promise Visa Card?

PenFed Promise Visa Card's rates for purchases, balance transfers and cash advances range from 11.24% APR to 17.99% APR depending on the credit history of cardholders. These are low rates, particularly in the case of cash advances, for a credit card with such lenient credit requirements. There is a 12-month 4.99% APR introductory rate on balance transfers made during the first three months. This is not as low as the 0% APR many credit cards offer, but take into consideration there is no balance transfer fee, which in most cards is 3% or 4%.

What Are the Fees for PenFed Promise Visa Card Credit Card?

The PenFed Promise Visa Card doesn't have any fees. That's right. There is no balance transfer fee, no cash advance fee, no foreign transaction fees or penalty fees for late or returned payments.

What Is PenFed Promise Visa Card's Rewards Program Like?

PenFed Promise Visa Card doesn't have a rewards program. There are no reward points, cash back or miles to earn.

What about PenFed Promise Visa Card's Signup Bonus?

The PenFed Promise Visa Card doesn't have a signup bonus at this time.

Does PenFed Promise Visa Card Have Any Other Benefits?

The PenFed Promise Visa Card doesn't have much in the way of rewards and perks. It does include chip-enabled security, card security alerts and Apple Pay capability.

How Is PenFed Promise Visa Card Better Than Other Credit Cards?

The PenFed Promise Visa Card is a good no-frills credit card if you're looking for a card with no annual fee, low rates and no additional fees. It doesn't even charge a balance transfer fee, a cash advance fee, or even penalty fees for late and returned payments, which is extremely rare. Its standard rates can be as low as 11.24% APR and the same rate applies for balance transfers, purchases and cash advances. It's not for nothing the PenFed Promise Visa cards has received awards for its transparency and simplicity.

The trade-off is that there is no rewards program and the intro rate is 4.99% APR not the customary 0% APR. Although, when you consider there is no balance transfer fee, which is usually 3% or 4%, the overall balance transfer cost is similar to most 0% APR offers.

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Contact

  • Headquarters
  • 7940 Jones Branch Drive
    McLean, VA 22102 USA
  • Visit Site

Other Services by Pentagon Federal Credit Union

Availability

Available in 50 States and Washington, DC
  • 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

Grace Period / Deferred Interest (Months)
25
Late Payment Penalty
$0
Returned Payment Fee
$0
Over-Limit Fee
$0
Annual Fee
$0
Minimum Interest Charge
$0
Foreign Currency Transaction Fee
0%
No Annual Fee
No Foreign Transaction Fee
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
  • Unemployed
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Supported Income Types
  • 1099 Misc. Income
  • Cash
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Credit Score Range
640 - 850
850 300 640
Minimum Age
18
Customer Type
Personal
Card Type
  • Balance Transfer
  • Low Interest
Card Network
  • Visa
Credit Card Benefits
  • Fraud Liability
  • ID Theft Protection
Purchases APR
11.24% - 17.99%
0% 29%
Balance Computation
average daily balance (including new purchases)
Balance Transfer APR
11.24% - 17.99%
8% 29%
Introductory Rate
4.99%
Intro APR period (months)
12

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Other Personal Credit Cards

Pentagon Federal Credit Union Personal Credit Cards

Product

Reviews

Purchases APR

Balance Transfer APR

Annual Fee

Credit Score Range

PenFed Platinum Rewards Visa Signature® Card
Purchases APR 11.24% - 17.99% 0% 29%
Balance Transfer APR 11.24% - 17.99% 8% 29%
Annual Fee $0 Annual Fee
Credit Score Range 700 - 850 300 850