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PenFed Gold Visa® Card review
Get an in-depth review of the PenFed Gold Visa® card and find out if it's right for you. We’ll analyze all the pros and cons to help you decide which features make this credit card a great option.
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by Aline Barbosa
PenFed Gold Visa® Card: Enjoy an extensive low APR intro to achieve your financial goals!
Have you been searching for an all-purpose credit card that offers convenience and exceptional value? Then you’ll want to take a closer look at this PenFed Gold Visa® Card review.
How to apply for the PenFed Gold Visa® Card
Learn how to apply for the PenFed Gold Visa® card, from eligibility requirements and documents you'll need, to submitting your application.
- Credit Score: You’ll need a score between good and excellent to qualify for the PenFed Gold.
- Annual Fee: There’s no annual fee attached to this card.
- Intro offer: There’s no current promo with the PenFed Gold.
- Rewards: The PenFed Gold is not a rewards card.
- APRs: 0% for 15 months on balance transfers made within the first 90 days of card membership, and 0% on purchases for the first 15 months. Once that period ends, a variable 15.49% – 17.99% applies. 17.99% for cash advances, and 17.99% max penalty APR (when applied).
- Other Fees: 3% balance transfer fee per transaction (even during the promo period).
The PenFed Gold Visa® Card offers international Visa coverage with no annual fee, no foreign transaction fees, and no cash advance fees.
While it has no rewards on purchases, it offers you the ability to increase your financial freedom in other ways.
Are you interested in learning more? Then check out our comprehensive PenFed Gold Visa® Card review below. We’ll go over its main features of the card so that you can decide if it’s right for your needs!
PenFed Gold Visa® Card: What can you expect?
The PenFed Gold Visa® Card is a great option for those looking to get the most out of their credit card experience. With no annual fee and low interest rates, you can enjoy the benefits that come with having a PenFed card.
While the card is only available to PenFed members, joining is easy. You can join for free if you’re working for the military or certain government agencies, or you can easily open your account online with a $5 deposit.
New members will be able to enjoy an extensive 0% APR period on balance transfers and new purchases for 15 months.
Balance transfers have a 3% fee per transaction and must be completed within the first 90 days. Then, the APR varies between 15.49% – 17.99%.
The PenFed Gold Visa® Card has no annual fee, no foreign transaction fee, and no cash advance fee. You can use it online or in-store and earn exclusive PenFed membership discounts on a variety of merchants.
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Do the pros outweigh the cons?
The PenFed Gold is a popular credit card option for many people. But is it the right card for you? Here are some pros and cons to consider before making a decision.
Pros
- Extensive intro APR on purchases and balance transfers;
- No annual, foreign, or cash advance fees;
- International Visa coverage for online and in-store purchases;
- Zero Liability policy, digital wallets, tap to pay, and other security features.
Cons
- The PenFed Gold is only available for PenFed members;
- The PenFed Gold has no rewards program;
- There’s a balance transfer fee of 3% of the amount per transaction.
What are the eligibility requirements?
To become eligible for the PenFed Gold Visa® Card, you need to be a PenFed member, have a healthy credit score (good/excellent recommended) and a SSN number. You also need a valid U.S. mailing address and to be 18 years or older.
Learn how to request the PenFed Gold Visa® Card
If you’d like to learn how you can request the PenFed Gold Visa® Card, we can help. In the following link, we’ll look over the entire application process so you’ll know exactly what to expect. Read on for more!
How to apply for the PenFed Gold Visa® Card
Learn how to apply for the PenFed Gold Visa® card, from eligibility requirements and documents you'll need, to submitting your application.
Aline Barbosa
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