Offered by: Pentagon Federal Credit Union

PenFed Promise Card

  • 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.
N/A Average Credit Score Approved for this Card
N/A Lowest Credit Score Approved for this Card
Purchase Intro APR Purchase Regular APR Balance Transfer Intro APR Balance Transfer Regular APR
36 months    









* 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 "Take Offer" button, you can review the credit card terms and conditions on the provider's website.

Offer Details:

Cash Advance Rate

9.99%* Variable

Annual Fee


Late Fee


Cash Advance Fee


Balance Transfer Fee


Saving Details

Year 1

Year 2

Year 3

Balance Transfer Cost




Interest Savings on Transferred Balance




Interest Savings on New Purchases




Value of Rewards on New Purchases




Value of Bonus Points




Annual & Application Fees




Total Annual Savings




Total Savings over 3 Years


Credit Card Usage Profile

Transfer a Balance

  • Balance to Transfer: $2,500
  • Monthly Paydown: $600
  • APR: 21.99%

Earn Rewards

  • $1,000 Monthly Spending
  • $45 Gas
  • $75 Groceries
  • $20 Travel
  • $50 Restaurants
  • $50 Entertainment
  • $760 Other

Establish or Build My Credit

Card Details
  • Annual Fee: $0
  • Minimum Deposit: $0

Finance a Large Purchase

  • Initial Purchase Amount: $3,000
  • Monthly Paydown: $60
How We Calculated Your Savings

Credit Karma uses details about your credit card usage and data we have on current credit card offers to calculate how you might save money. These calculations are for illustration purposes only.

Savings are based on Credit Karma calculations and are not endorsed or commissioned by any advertisers. These calculations are for illustration purposes only. If bonus is included in savings estimate, it is assumed offer qualifications are met.

Compare Holders of This Card

PenFed Promise Card Cardholder Comparison Coming Soon!

We’re working hard to collect and analyze information about typical cardholders. When we have enough data available, you’ll see charts and statistics about this card, right here on Credit Karma. Check back often for updates!

21 Cardholder 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 Recent Reviews

Scam Helpful to 0 out of 1 people

Never heard of this outfit before. I keep getting demand notices for unpaid balances. Not possible because I haven't borrowed money for fifteen years and pay cash for cars. I don't need credit.

They say they are a member of NCUA. Go to and search them... They don't exist. Try and they don't exist. They.., whomever 'they' are, ARE NOT  a Credit Union. They are not insured. Your account is not insured.

beware of the shill reviews .

Jan 19, 2014
SAY NO TO PENFED GO WITH NAVYFCU!!!!!! Helpful to 2 out of 3 people

For those that say don't bash Penfed if they don't approve you for a card when you have high 700's low 800 fico have issues. I always look for a conservative bank. The purpose of a bank is to hold my money but at the same time I feel if I would like to take advantage of offers I would like to have a bank that lends to good credit applicants. I saw that you could get 5% cash back for gas all the time so I was interested in this account because I currently use my chase and discover for cash back but that cash back is not yearly. So I applied with a 760 Fico I have never been denied for a credit card I have 12 different credit cards all around 10K limits highest at 34K and only one card has a balance of 5000 on my NAVY FCU because they offered 0% for a year so I transferred my auto loan on to my credit card. The application can back instantly denied so of course I called Penfed and told them I just signed up and I wanted this card she pulled my credit history and said well your score is to low. I said I have a credit score higher the 75% of the people in America what do you mean its too low. She said we use a different score model yours might show with the credit score company as a 760 but we show it as a 680. I said I understand sometimes when I apply the score is higher or lower depending on the company I am applying through maybe by 10 15 points but not 80. She told me because you have a balance showing you have perfect history but we don't like to see a a high balance I told her my debt to credit is less than 5% I have a balance of 5K but have available 140K She said we are very picky with lending so I said never mind and canceled my account. Go with NAVY FCU if you would like lending at a great bank I was working on my credit 4 years ago I had a 630 fico pretty good history no bad for about 3 years applied with chase, discover, amex all approved for around 1500 limits with a fico of 630 then I applied for NAVY FCU card approved instantly for 15K and then a 2nd card for 15K I love NAVYFCU and they have 0% balance transfer interest no fee for 1 year specials. Now my CL limit after 3 years is 38K don’t have go with PENFED or USAA Bank both are not lender friendly and horrible rates. FYI for USAA insurance quoted under military discount 115 a month for all 3 of my cars. Compared to Gieco same coverage quoted 78 dollars a month under their military discount program. PENFED and USAA come go done in flames!!!!!!!!!

pauly2221's response was:    

  Apr 05, 2013

pauly2221(27, 132)

Top Contributor

Review by pauly2221

27 Contributions 132 People Helped

Top Contributor

Penfed Saving me $$$

Penfed has an offer for 1.99% FIXED equity loan for 60 months! I dare any credit union  or bank to beat that offer..... PENFED you are #1

Feb 06, 2013
PENFED- unfavorable Helpful to 0 out of 3 people

I was recently approved for a PENFED credit card. However, I was shocked that it was with a credit limit of only $500. I find this surprising because I have a FICO score over 800 and have never made a late payment or bounced a check in my 42 years. After I called to have them re-consider the credit limit, they increased it to $2500. I told them that I felt my limit should be higher based on my financial history. PENFED stated that $2500 would be the limit. The associate at PEDFED stated that their credit approval policies are very conservative and that I should be happy to even have been approved at all by PENFED. After that statement, I had the associate close all of my PENFED accounts. Ultimately, I recommend that those considering opening an account with PENFED look somewhere else. There are plenty of better options at other institutions for your credit and financial needs. In my opinion, PENFED is more concerned with promoting a status symbol and less concerned with their customers.

Dec 22, 2012
Helpful to 0 out of 1 people

I applied for the PenFed credit card based on the "No Foreign Transaction Fee". Unfortunately, they do charge the fee. I put the card on sleep. 

Sep 13, 2012

See all 21 Reviews of PenFed Promise Card

† Credit Karma members have received approvals with these TransUnion New Account credit scores. These approval metrics are only guidelines and approval is not guaranteed. You can learn more about credit card approval through our in-depth article.