PenFed Gold Credit Card Review and Comparison

The PenFed Gold Credit Card is a solid choice for those looking for a no-annual-fee card with a decent rewards program.

The card offers 5x points on fuel purchases, 3x points on groceries, and 1x point on everything else, which is a decent rewards structure.

With a 12.99% - 18.99% Variable APR, it's essential to pay your balance in full each month to avoid interest charges.

The PenFed Gold Credit Card has no foreign transaction fees, making it a great option for international travel.

The PenFed Gold Visa Card is a great option for balance transfers, with a 15-month 0 percent intro balance transfer APR and a 3 percent balance transfer fee.

You can join the Pentagon Federal Credit Union, making this card available to anyone, not just military members.

The card has a non-variable 17.99 percent APR ongoing, which is relatively low compared to other credit cards.

It's essential to keep your credit card balance as low as possible at all times, but if you need to carry a balance occasionally, the PenFed Gold Visa Card is a top choice.

The card doesn't offer cash-back rewards or points, so if you're looking for rewards, you might want to consider other options.

However, the regular APR of 17.99 percent is relatively low, and there are other great choices on the market that offer rewards and bonuses.

The Citi Double Cash Card is one such option, earning up to 2 percent cash back on all purchases with no cap and no annual fee.

The PenFed Gold Visa card offers a 0% intro APR on balance transfers for 15 months, with a 3% balance transfer fee. This is a great option for those who want to pay off debt without incurring interest.

The card also offers a 0% intro APR on new purchases for 15 months, which is a big deal for those looking to finance a purchase without breaking the bank. After the intro period ends, a 17.99% variable APR applies.

One of the standout features of the PenFed Gold Visa card is its rock-bottom fees. With no annual fee and a 3% balance transfer fee, it's a great option for those who want to avoid unnecessary charges.

The card's balance transfer offer isn't the most generous on the market, but it's still an attractive option for those with small amounts of debt to repay. The 15-month interest-free promotion is a great perk, especially considering the relatively low fixed APR of 17.99%.

Here are some scenarios where the PenFed Gold Visa card is a great choice:

Overall, the PenFed Gold Visa card is a solid choice for those who want a low-maintenance, low-fee credit card.

The PenFed Gold Visa Card is a solid choice for those who value simplicity and low interest rates. It offers one of the longest 0% introductory APR deals on the market, making it a great option for those who need time to pay down a balance.

If you're not eligible for the PenFed Gold Visa Card due to its credit union requirements, there are other alternatives to consider. The Discover it Cash Back card, for example, offers a flexible rewards program and a first-year cash back match.

The PenFed Gold Visa Card's low regular APR and no foreign transaction fees also make it a suitable option for military members who travel frequently. However, if you're looking for a card with rewards, you may want to consider other options.

The PenFed Gold Visa Card is a solid choice for military members, offering a low regular APR and no foreign transaction fees. This makes it an excellent option for those who travel frequently.

However, if you're not eligible for the PenFed Gold Visa Card due to its membership requirements, there are alternative options available. The Discover it Cash Back card, for example, offers a flexible rewards program and a first-year cash back match, which can significantly boost rewards earnings.

The PenFed Gold Visa Card's benefits are limited outside of standard Visa security features, which include 24/7 fraud monitoring, $0 liability for unauthorized purchases, digital wallet compatibility, and secure remote commerce. These benefits are great for making digital transactions safer and easier, but they aren't unique to this card and don't offer much in the way of pure value.

If you're looking for a card with a long 0% introductory APR deal, the PenFed Gold Visa Card is a good choice, with a 0% introductory APR for 12 billing cycles. However, if you're not in need of an extremely long intro APR, you should consider other options, such as the Citi Double Cash Card, which earns up to 2% cash back on all purchases and has a 0% intro APR on balance transfers for 18 months.

Here's a comparison of the PenFed Gold Visa Card with other low-interest cards:

Note that the Citi Diamond Preferred card has a longer intro APR period than the PenFed Gold Visa Card, but it also has a higher regular APR.

The Citi Diamond Preferred Card is a great option to consider, especially if you're looking for a card with a long 0% intro APR offer. It offers a 0% intro APR on balance transfers for 21 months, and on purchases for 12 months.

One thing to keep in mind is that the intro APR period is only available for balance transfers that are completed within four months of account opening. This means you'll need to plan ahead and make your balance transfer within that timeframe to take advantage of the 0% APR.

The Citi Diamond Preferred Card doesn't earn rewards, but it does offer some useful benefits, such as purchase protection and access to the Citi Entertainment program for purchasing event tickets.

Using PenFed Gold effectively is key to getting the most out of this card. To start, if you have other credit cards with lower interest rates, use the PenFed Gold Visa card for any purchases you can't pay off in full.

It's a good idea to plan ahead when it comes to balance transfers. Divide the total amount you need to repay by 15 and try to repay slightly more than that each month.

The PenFed Gold Visa card's balance transfer option can be a lifesaver for those buried under a mountain of debt. It offers a 0% introductory APR for 15 months on balance transfers made in the first 90 days after account opening.

This interest-free period can provide some much-needed breathing room on interest charges, allowing you to make more progress against your debt load. The APR for the unpaid balance and any new balance transfers will be a non-variable rate of 17.99% after the intro period ends.

The balance transfer offer is a decent option, considering it's roughly average in length for intro APR offers. Cards that feature both purchase and balance transfer offers are more uncommon, giving the PenFed Gold Visa a leg up on other no-annual-fee cards.

To determine whether the 3% balance transfer fee is worth it, compare that cost with the amount you would otherwise pay in interest charges on your existing balance over time. If the fee is lower than the interest you'd pay, it might be a good idea to take advantage of the balance transfer offer.

Keep in mind that you can only move a balance as high as the transfer limit allows, so it might not be possible to include all of the debt. It's essential to factor in the cost of the 3% balance transfer fee and compare it with the amount you would otherwise pay in interest charges.

The PenFed Gold Visa card's low APR, 17.99 percent (variable), is one of the best interest rates you'll find, and it's below the current average APR. This makes it a good option if you need to carry a balance in an emergency.

The PenFed Gold Visa Card is a great option if you're looking to avoid high fees. It doesn't charge a foreign transaction fee, which is a rare perk for a low interest rate card.

This can save you a significant amount of cash, especially if you're in a military family or travel frequently. Many low interest credit cards charge foreign transaction fees as high as 3 percent.

The card also charges no cash advance fee, which can be a large charge on other cards. This is a great benefit if you need to withdraw cash while traveling.

The balance transfer fee is also relatively low, at 3% per transaction. This is lower than many competitors, who charge 5%.

Late charges are capped at up to $28, which is a reasonable amount. This is a more manageable fee compared to some other credit cards.

The PenFed Gold Visa card offers a range of rewards and perks that make it a great choice for many users. One of the standout features is that it doesn't charge a foreign transaction fee, which can save you a significant amount of cash if you travel frequently.

This perk is especially valuable if you're in a military family and spend a lot of time abroad. The card's low interest rate is a great bonus, but the foreign transaction fee waiver is a rare and valuable perk that's typically reserved for high-interest travel cards.

The PenFed Gold Visa doesn't earn rewards on purchases, which is a major drawback for some cardholders.

Not being able to earn rewards can make the card less appealing, especially if you want to offset your expenses or earn incentives for your purchases.

Without a rewards program, the card's value is limited compared to other options on the market that offer rewards in addition to solid intro APR offers.

The lack of rewards is not unexpected, given the card's focus on low fees and an intro APR.

The PenFed Platinum Rewards Visa Signature Card earns 5x points on gas paid at the pump and EV charging stations.

You can also earn 3x points at the supermarket, restaurants, and TV, radio, cable, streaming services.

It offers a 0% intro APR for balance transfers, which is a great feature for those who need to pay off existing debt.

However, it's essential to note that the 0% intro APR is only for balance transfers, not purchases.

The PenFed Gold Visa Card is a great option for those who need a long 0% intro APR on purchases and balance transfers. You'll need good to excellent credit to qualify, which means a FICO score of at least 670.

Applying for a PenFed credit card or increasing your credit limit will generate a hard inquiry, which can temporarily lower your credit score. It's recommended to wait three to six months between credit card applications.

The good news is that some banks offer a soft inquiry, which won't impact your credit score. However, PenFed Credit Union doesn't offer this option.

You may be eligible for an automatic increase on your PenFed card, which is a soft pull and won't affect your credit score. PenFed will regularly review your account to see if you've been paying on time and keeping low debt.