The PENFED Promise Visa Credit Card is a no-frills credit card. Its most notable feature is a lack of frees. It has no fees for cash advances, foreign transactions, late payments, or even returned payments. It also offers virtually no rewards and has no 0% introductory APR on purchases or balance transfers. It does offer a $100 statement credit, but requires you to spend $1,500 on the card in the first 90 days to qualify.
In short, there are much better credit cards available today.
PENFED Promise Visa Credit Card
- 4.99% APR promo balance transfer rate for 12 months with no balance transfer fee now through September 30, 2020. After that, the APR for the unpaid balance and any new balance transfers will vary with the market based on Prime Rate. Subject to credit approval.
- $100 bonus after spending $1,500 in purchase transactions within the first 90 days of account opening.
- No annual fee
- No late fee
- No cash advance fee
- No foreign transaction fees
- Chip enabled for added security
|Purchase APR||12.49% - 17.99% Variable|
|Penalty APR||See Rates & Fees|
|Cash Advance APR||17.99% Variable|
|Cash Advance Fee||None|
|Foreign Transaction Fee||None|
|Late Payment Fee||None|
|Returned Payment Fee||None|
Introductory Purchase APRNone
Introductory Balance Transfer APR
4.99% introductory APR for 12 Months.
There is no balance transfer fee.
Earn $100 after spending $1,500 in the first 90 months.
We last updated the data in this credit card article on April 4, 2020. Please confirm all terms and conditions with the credit card issuer before applying for any credit card.