Sorry, this offer has expired.
  • 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.
Annual Fee:
$0
Purchase Intro APR:
7.49%* Variable
(36 months) Variable
Purchase Regular APR:
9.99%*
Variable
Balance Transfer Intro APR:
4.99%* Variable
Variable
Balance Transfer Regular APR:
9.99%*
Variable

Details, Rates & Fees

Click here for Additional Details

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* See the online Provider's credit card application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the 'Apply Now' button, you can review the credit card terms and conditions on the provider's website.

Cash Advance Rate 9.99%* Variable
Cash Advance Fee $0
Late Fee $0
Penalty APR See Terms
Balance Transfer Fee $0
Foreign Transaction Fee $0
Return Payment Fee See Terms

Cardholders' Reviews

The following information and reviews are brought to you by Credit Karma and/or its users. Banks, issuers, and credit card companies do not endorse or guarantee, and are not responsible for this content.
Most Helpful Positive Review
poorfool97
by poorfool97
Helpful to 1 out of 1

I personally had no issues with PenFed. Quick approval, good customer service, and very willing to work with you (assuming you are willing to work with them, re: sending in paystubs, etc.). All these bad reviews stem from getting denied, which I think is in appropriate. There are tens of thousands of banks out there that will approve or deny you; it's not fair to go off about the cost of becoming a member when it's very obvious you have to do so.  Neither PenFed or CK is running a scam; people just need to calm down and realize they made the actions, not CK or PenFed (and saying CK is at fault for putting up the ad is idiotic. That's like saying you're ****ed at TImeWarner Cable for airing all those BMW commercials for low leases, but then BMW denied you a loan).  Anyway, I say try PenFed out if you're looking for a good credit union.

The following information and reviews are brought to you by Credit Karma and/or its users. Banks, issuers, and credit card companies do not endorse or guarantee, and are not responsible for this content.
Most Helpful Negative Review
Anonymous
It is a good no-frills credit card
by Anonymous

The major issue with the card is that the payments made (even from your PenFed available funds) will be held for 10 days on all payments.  They advertise instant payment credit for payments, but the next day it is not avilable and it won't be available until the 10 day float periord.  This means your cleared PenFed funds are tied up for 10 days if you make a payment for the first six months, despite their advertisement.  The float policy was not disclosed until I called customer service to find out why my available credit had been reduced.


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‡ Average score refers to the arithmetic mean, typical low score to the 5th percentile and typical high score to the 95th percentile of, in each case, available VantageScore 3.0 credit scores provided by TransUnion of Credit Karma members who were approved for this product from October 2015 through March 2016. Average and typical approved scores are provided as guidelines only and approval is not guaranteed. You can learn more about credit card approval through our in-depth article.

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