Credit Cards

PenFed Gold Visa® credit card review: One of the lowest purchase APRs in the market

WIth the PenFed Gold Visa® credit card you have the opportunity to reduce and even completely eliminate debt with one of the lowest purchase APRs in the market.

Advertisement

Promotional APR on balance transfers and no annual fee

PenFed Gold Visa®
Read this review to learn everything about the PenFed Gold Visa® credit card. Source: The Post New.

This PenFed Gold Visa® review will show why this credit card is a good option if you want to reduce your APR. They offer one of the lowest APR on all purchases and a 0% intro APR.

  • Credit Score: good/excellent
  • APR: 11.49% to 17.99% Variable APR, 0% introductory rates on balance transfers, 
  • Annual Fee: $0
  • Fees: 3% balance transfer fee on each transfer
  • Welcome bonus: N/A
  • Rewards: N/A
PenFed Gold Visa®

How to get your PenFed Gold Visa® credit card

Apply for the PenFed Gold Visa® credit card and get your debt under control with this card’s low APR on balance transfers and purchases.

Of course, it is not a good idea to carry a balance on your card. Avoid doing that at all costs.

But if it is unavoidable, this card is certainly a good option to have some degree of control over how much interest you pay.

PenFed Gold Visa® credit card: how does it work?

The PenFed Gold Visa® credit card is a card free of annual fees, but it also offers no rewards except for a small welcome bonus.

It also does not charge cash advance fees, although you will incur interest on the amount you withdraw.

It is an especially attractive card if you do not see any way around carrying a balance on purchases. Because of its low APR, you will be paying less interest than you would otherwise with another card.

Again, avoid carrying a balance at all costs. In the long term, this is something that could significantly damage your finances and make it increasingly difficult for you to get out of debt.

New applicants have access to a promotional APR on balance transfers. The card offers a 15-month 0% intro APR period on balance transfers. After that, you get a non-variable APR of 17.99%.

For purchases, the variable APR varies from 11.49% to 17.99%, and balance transfers incur a fee of 3% of the amount of each transaction.

Review of the PenFed Gold Visa® benefits and disadvantages

woman thinking
Should you get the PenFed Gold Visa® credit card? Source: Freepik.

Now that you are familiar with the PenFed Gold Visa® credit card’s ins and outs, how about comparing the pros and cons of this card’s review?

Below we have put together its upsides and downsides for you to decide which carries the greatest importance to you.

Benefits

  • One of the lowest ongoing APRs available
  • $0 annual fee
  • Promotional APR on balance transfers
  • $0 foreign transaction fee

Disadvantages

  • No perks
  • No additional benefits
  • No promotional APR on purchases
  • No rewards

Is a good credit score required from applicants?

The PenFed Gold Visa® credit card requires applicants to have Good to Excellent credit. This means having a credit score of 670 or superior.

Learn how to apply and get a PenFed Gold Visa® credit card

Applying for the PenFed Gold Visa® credit card is a simple and straightforward process that only takes a few minutes. 

If you like this card and would like to apply, we have prepared a step-by-step guide to assist you. Just click the link below, and let’s get this done.

PenFed Gold Visa®

How to get your PenFed Gold Visa® credit card

Apply for the PenFed Gold Visa® credit card and get your debt under control with this card’s low APR on balance transfers and purchases.

About the author  /  Danilo Pereira

Danilo is a copywriter with a passion for learning. Deeply interested in philosophy, politics and arts.

Trending Topics

content

Standard Bank Gold Credit Card online application: low monthly fee

In this Standard Bank Gold Credit Card application guide we are going to take you by the hand and show you how to get this card.

Keep Reading
content

Delta SkyMiles® Blue American Express Card review

Looking for a great travel rewards card? Check out our review of the Delta SkyMiles® Blue American Express Card and see if it’s worth it.

Keep Reading
content

Make extra money from home: 5 smart ways to do it!

Need to make some extra money from home? In this article, we bring practical ideas for making money from home.

Keep Reading

You may also like

content

The many advantages of shopping online with a virtual card

Learn about the benefits of shopping online with a virtual card, including added security and protection against fraudulent transactions.

Keep Reading
content

OneMain Financial review: get a personal loan easily

OneMain Financial Personal Loans to get flexible payments with low rates, even with a low credit score. Read this OneMain Financial review!

Keep Reading
content

Useful tips for your first credit card

A credit card is a powerful financial tool if you know how to use it. Read on to learn a few useful tips on how to handle your first card.

Keep Reading