Consumers searching for low interest credit cards can sometimes be disappointed when they read the fine print on their agreements. By contrast, the PenFed Promise Visa credit card comes with an introductory interest rate that lasts for more than three years. Even when PenFed Promise Visa cardholders are out of the introductory interest rate period, they usually pay no more than 10% on all of their credit card purchases.
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Even if you make a late payment, go over your credit limit, or simply fail to use your card, there are no penalty fees. Cardholders don’t pay a yearly fee and they can even use their PenFed Promise Visa credit cards in foreign countries without racking up foreign currency fees.
PenFed Promise Visa Card Details
There are two different introductory interest rate periods that last for a total of five years. In order to qualify for the introductory 4.99% to 7.49% rates, you must get your statements online. In an effort to save the environment, Pentagon Federal Credit Union wants all cardholders to get their financial statements on the web.
Although cash advances are calculated at 17.99% interest, there are literally no other fees for PenFed Promise Visa cardholders. It is important to note that failing to make multiple payments on your PenFed Promise Visa credit card might result in having your account closed.
PenFed Promise Visa Card Benefits
The PenFed Promise Visa credit card can be used to save money on high interest credit cards because the 4.99% interest rate makes this one of the most inexpensive balance transfer credit cards out there. If you are not able to pay down your balance every month, your interest rate will be exceptionally low.
Instead of being subject to penalty features and a default APR, you will pay no more than 9.99% on your PenFed Promise Visa credit card until further notice. Qualifying for a PenFed Promise Visa credit card can also help you to be approved for more exclusive personal credit cards.
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