The PenFed Promise Visa is a scarcity among charge cards. How so? Try its no-fee structure, to begin with. If you or a member of your household is a member of the United States armed forces or affiliated group, you are eligible to join Pentagon Federal Credit Union and make an application for the card. Source of article:
come look at you now with some of our webpage.
How the PenFed Promise Visa works
The standard APR after three years on the PenFed Promise Visa card is only 9.99 percent, which is pretty low considering that is three years to the future. A 7.49 percent introductory APR is promised to brand new applications too.
If you look at the terms and conditions of the PenFed Visa, you will find that there are really no fees at all. There are no yearly fees, foreign transaction fees, balance transfer charges, late fees, or anything else like it. There is no penalty Annual Percentage Rate increase either, according to WiseBread. That is another great part of the card.
Join the military
The requirement to get the PenFed Promise Visa is that you are a member the military or uniformed services and that you are a part of the PenFed Credit Union. Only one person in your household has to qualify. Joining a qualifying organization such as Voices for America’s Troops for $15 can also help you qualify for it.
Reasons to get it or keep away from it
The really low introductory and standard interest rates on the PenFed Visa are really good. The Prime Rate can increase since it is a variable rate though, so keep that in mind. There are practically no fees, though you can get your account suspended if you frequently abuse that. PenFed is also very trusted and has been a credit union since 1935 with a lot of business.
There are some things that are not ideal about the PenFed Promise Visa card, in the interests of full disclosure. No rewards points are offered and promotional financing options are limited. Aside from the membership requirements, however, the only other real drawback is that the PenFed Promise Visa is a credit card, matter to all the potential dangers. Use it responsibly.
Sources
PenFed
Voices for America's Troops
WiseBread