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 interest 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 Interest Rates for PenFed Promise Visa Card?

PenFed Promise Visa Card' interest rates for purchases, balance transfers and cash advances range from 7.99% to 16.99% APR depending on the credit history of cardholders. These are particularly low interest 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 between April 1 and June 30, 2015. 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 tax 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 interest rates and no 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 interest rates can be as low as 7.99% 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.

  • Customer Type
  • Card Type
    Balance Transfer Rewards
  • Card Network
  • Co-signing Allowed
  • Grace Period / Deferred Interest
  • Car Rental Insurance
  • Emergency Support
  • Extended Warranty
  • Flight Insurance
  • Fraud Liability
  • Free FICO Score
  • Lost Luggage Insurance
  • Travel Insurance
  • Air Miles
  • Cashback
  • Points
  • Standard Rate
  • Introductory Rate
    4.99% APR for transfers, 7.49% APR on purchases
  • Standard Rate
    7.99% to 16.99% APR
js-table-filter bizname-penfed-promise-card
js-table-filter no-annual-fee-238
js-table-filter ccard-type-137
js-table-filter ccard-type-136
js-table-filter no-introductory-apr-350
js-table-filter card-type-12
js-table-filter no-foreign-currency-transaction-fee-237
js-table-filter credit-required-116

Est. 1935

  • No Annual Fee
  • 0% Introductory APR
  • No Foreign Transaction Fee
Standard Rate 7.99
Card Type Balance Transfer
Card Type Rewards
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...

No reviews found.

Be the first to write a review for this company!

Write a Review

New Review for PenFed Promise Card

Rate it:

Login with social