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Having a good credit score can make many financial decisions and purchases in your life a lot easier. One simple way to help build your credit score is with a credit card. With so many different cards to choose from, finding one for you can be difficult. But, the new PenFed credit card has some great benefits that make this card worth looking into and possibly applying for.
Benefits of PenFed Promise Card
The has a variety of benefits that make this card competitive with other credit cards available. PenFed slogan, “Remember when things were simple and a promise meant something,” proves that PenFed wants to keep things simple for its consumers. Currently PenFed is offering a simple credit card, the Promise Visa card with no fees! You read that last sentence right, this card has absolutely no fees! There are numerous credit cards that offer no annual fee, but then still charge fees for other items, but this visa card really has no fees. That includes:
- No annual fee or membership fee
- No fee for foreign transactions
- No fees for balance transfers or cash advances
- No late fees or fees for going over your credit limit
- And no APR penalty
Being hit with all sorts of fees can be very frustrating when it comes to credit cards. With the , you won’t have to worry about the headache of fees. You can use your card to make the necessary purchases and know you won’t be losing even more money through numerous fees.
Other Conditions
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The is not only a good deal because it doesn’t have any fees, but this card also offers a great APR. The APR for this card is 7.49% on purchases for the first 36 months. After that initial period, the APR will vary depending on the Prime Rates, which is currently at 9.99%. Even after the first three years, the APR on this credit card is considerably lower than other credit cards. There isn’t a fee for cash advances, but the APR is 17.99%.
is also offering a promotion which offers 4.99% APY for PenFed balance transfers for the first 24 months on those purchases made between July 1, 2011 to September 30, 2011. This offer won’t last, so apply soon if you want the great APR on balance transfers.
Applying
As a PenFed card holder, you must agree to have all your credit card statements sent electronically. By having your credit card statements send electronically, you are helping the environment and protecting your account. PenFed is working to go green, which means your business with them can be done online, including applying for a visa credit card. Applying is easy though the .
You can compare the PenFed Promise Credit Card with other credit cards on RateCatcher.com’s credit card comparison chart.
