Credit Card Review & Application

PenFed Promise Credit Card


out of 5

- You must be a PenFed member to apply. Not yet a member? It's easy to join!
- You may be eligible through your employment, association membership, and volunteerism, or by becoming a member of one of our nonprofit partner organizations.
- Absolutely no fees - no annual fee, no foreign transaction fee, no balance transfer fee, no cash advance fee, no late fee, no over credit limit fee, and no penalty fee.
- 7.49% introductory purchase APR for the first 36 months. After that, the APR will vary with the market based on the Prime Rate, and is currently 9.99% APR.
- 4.99% APR promotional balance transfer rate for life of balance on transfers made between October 1, 2012, and December 31, 2012.
- After December 31, the APR for any new balance transfers will vary with the market based on the Prime Rate, and is currently 9.99%.
- No-fee cash advances carry a 9.99% variable APR.

Introductory APR: 7.49%*
Introductory Period: 36 months
APR on Purchases: 9.99% (variable)*
Annual Fee: $0*
Card Issuer: Pentagon Federal Credit Union
Card Network: VISA®
Card Category: Consumer (Regular)
Card Type: - Eco-Friendly Card
- Low Interest Credit Card
- No Foreign Transaction Fee Credit Card
Credit Needed: Excellent*

The PenFed Promise Visa Credit Card is a credit card like no other. Offered by the Pentagon Federal Credit Union, eligible cardholders can receive a variety of benefits for using the card. This credit card is like no other credit card out there on the market. With the exclusive opportunity to avoid fees, cardholders can save more of their money and spend it on purchases they want or need rather than on unwanted fees.

Cardholders who do not or cannot pay off their balance each month will love the benefits of this card. With a low APR and the exceptional feature of absolutely no fees, it is no wonder cardholders are beginning to love their credit cards. Most cardholders either hate, love, or hate and love their credit cards. With the numerous expensive fees that credit card companies slap on, individuals generally try to avoid using their credit cards.

With this credit card, cardholders can enjoy using their credit card whenever they wish and worry less about a giant list of fees. Plus, there are no hidden fees. This card really does not have any fees. While many credit card companies entice cardholders with benefits and rewards programs, most do not compare to the benefit of not having to pay hefty fees.

The card also offers an exclusive low introductory rate you cannot find anywhere else. Plus, depending on the terms, the low introductory rate can last up to three years. This low rate works perfectly for those individuals wanting to get rid of their debt or for those that carry balances on their credit card from month to month.

Prospective applicants for this credit card must meet eligibility requirements in order to apply for this card. If you meet certain requirements, you may be able to receive membership with the Pentagon Federal Credit Union for free or you can pay $20 to become a member of the national Military Family Association and become eligible for this card.

Although this card is not a rewards card, there is no denying the many benefits of this card including the low interest rate, and the absence of an annual fee and other fees is beneficial and rewarding enough for cardholders. Cardholders can save money and worry less about paying their monthly balance off every month if they cannot afford it.

This credit card is great to have around for everyday purchases or for emergencies. You can use it without worrying about late fees or over-limit fees.

The review prepared by . Opinions expressed therein are solely those of the reviewer.

Other Benefits: See Terms and conditions of the offer.
Comments: - Absolutely No Fees! Introductory Purchase Rate – 7.49% APR for the first 36 months.
- You must be a Pentagon Federal Credit Union member to apply. Not a member? It's easy to join. You must be a United States Government employee, member of the United States Military and Uniformed Services, employee or volunteer of the American Red Cross, member of the National Military Family Association, or a family member/housemate of a current PenFed member.
Online Account Access: Yes
Introductory APR: 7.49%*
Applied Towards: Purchases
Introductory Period: 36 months*
APR on Purchases: 9.99% (variable)*
Annual Fee: $0*
Grace Period: 25 days*
Min Finance Charge: 0.00%
Late Payment Fee: $0.00*
Over Limit Fee: $0.00
Balance Transfer: Yes
APR on Balance Transfer (%): 4.99%
Transfer Fee (%): 0.00%
Transfer Period: Life of Balance*
APR Cash Advances: 17.49%
Cash Advance Fee: 0.00%
Additional Fees - Returned Payment Fee: None
- Late Payment Fee: None
- Over Credit Limit Fee: None
- Foreign Transaction Fee: None
- Balance Transfer Fee: None

We do not offer online application for this card at the moment.

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* The information provided for PenFed Promise Credit Card is believed to be accurate at the time of evaluation (Mar 4, 2013). We strongly advise visitors to review the terms and conditions to verify accuracy of the information and fees posted prior to applying for the product.

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