PenFed Gold Visa Credit Card

Andrew Reyes
A woman making a payment on her phone in one hand while holding her credit card in the other.
  • Annual percentage rate (APR): 7.49% to 17.99% variable.
  • Purchase intro APR: None.
  • Rewards: $100 statement credit.
  • Annual fee: $0.
  • Late fee: Up to $28.
  • Credit score: Excellent (750+).
  • Compare cards here.

Table of Contents


  • Very low interest rate: When you apply for the PenFed Gold Visa Card, you have a chance to qualify for a 7.49% variable APR. This APR is not only well below the average, it is among the best rates of any credit card. A low interest rate should appeal to any card carrier, but if you plan to hold a balance on your credit card, the PenFed Gold Visa Card is ideal for minimizing the interest charged on your balance.
  • Favorable fees: Aside from the opportunity to receive an incredibly low APR, the PenFed Gold Visa Card is also very reasonable when it comes to charges and fees. While a late fee is capped at just $28, certain costs usually charged by other credit cards are waived entirely by PenFed. Prices you won’t have to pay include:
    • Foreign transaction fee;
    • Cash advance fee;
    • Over your credit limit fee;
    • Annual fee.
  • Great balance transfer offer: Many credit card companies offer a balance transfer deal. However, what sets the PenFed Gold Visa Card apart from the others is that they give you 12 months interest-free for transferred balances. After this first year, you will be charged a fixed 17.99% APR. If you have manageable debt and can pay it off during the first year, it may be advantageous to consider this card.


  • Requires membership: PenFed stands for Pentagon Federal and is a credit union that primarily serves military members. Active duty and retired members of most government organizations and their family members can sign up. However, regular citizens can become a member of agencies such as Voices for American Troops or the National Military Family Association — qualifying them for a PenFed credit card.
  • Minimal perks: No rewards such as points, miles, or money come with the PenFed Gold Visa Card (besides the $100 bonus for new cardholders). The card’s main attraction is its low APR. However, PenFed does offer some perks. The perks may be minimal, but they are great. Such perks include travel accident insurance, rental car collision insurance, and a roadside assistance hotline.
  • No introductory purchase offer: Unlike many other credit cards, the PenFed Gold Visa Credit Card will not give you 0% APR on new purchases. This card boasts a low interest rate on your existing balance, not on new buys.

What Can You Expect From the PenFed Gold Visa Credit Card?

PenFed Gold Visa cardholders can take advantage of the above benefits, but there are many other services that PenFed offers. PenFed provides ways to manage your payments, have peace of mind, and clear up any concerns or questions you may have.

  • Online portal and app: PenFed has a web portal and an app. You can download the app from the App Store if you have an iOS device or from Google Play. Through both the web portal and app, you can track transaction details and loan application statuses, transfer balances, deposit checks, and find nearby ATMs, click to pay, digital wallets, and much more.
  • Security: PenFed credit cards come with EMV chip technology, which enhances fraud protection. Additionally, these cards come with zero liability protection. This security measure means that if your card is lost, stolen, and/or fraudulently used, you won’t be held responsible for paying those charges. Zero fraud liability protection is offered for unauthorized purchases both on and offline.

Who Should Get the PenFed Gold Visa Credit Card?

The PenFed Gold Visa Card can meet a variety of needs. People who plan to carry a long-term balance and want a low rate may find this card attractive. Additionally, people who wish to transfer their balance interest-free (whether they have debt to repay or want lower interest on a balance for another card) should consider this card. The PenFed Gold Visa Card is also for people wanting to make purchases they can’t pay off in full. Lastly, most anyone signing up for a credit card would appreciate the promotional balance transfer APR.

Compare other balance transfer credit cards and learn more here.

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