Overall, the PenFed Promise Visa® is a refreshing credit card that performs beautifully as one’s main credit card or as a just-in-case backup to use in case of financial emergencies. Introductory Balance Transfer APR Banks, issuers and credit card companies do not endorse or guarantee this content, are not responsible for it, and may not even be aware of it. Instead, you’ll see recommended credit ranges from the issuers listed next to cards on our site to help you determine which cards you’re likely to be approved for. The PenFed Power Cash rewards card is a military card, which means that cardholders who are not current or former military members may have a harder – though not impossible – time getting this card. Apple Store mobile app rating: 4.2/5. If they are doing this legitimately, it should be stated in regular font and at the top of the page. As with any credit card, the best PenFed credit card for you will revolve around your specific financial situation, credit habits, and needs. 1 Traditional card benefits apply to credit lines below $5,000 and the Signature® card benefits apply to credit lines above $5,000. This means if you have two PenFed credit cards with a $25,000 credit limit each, you may not be able to get a third PenFed credit card. Message 15 of 24 0 Kudos CanDoAttitude. I called USAA about auto insurance and explained I was a new member of Penfed and could I get a quote. Ed. You are looking for a good card to use overseas that charges no foreign transaction fees. Our marketing partners don’t review, approve or endorse our editorial content. Use this card while traveling abroad, since it doesn’t charge a fee for foreign transactions. I entered what little info that wasn't already populated in the application from my enrollment info and lo and behold I got an instant approval for a $13,000(!!!) PenFed Power Cash Rewards Visa Signature® Card review. But the bank receives an A+ rating from the Better Business Bureau. The PenFed Gold Visa® Card is an unflashy low APR card that has one of the most competitive interest rates available on a national scale. Learn more about our advertising policy. Also, the card is a Visa Signature card and comes with Visa Signature benefits and travel protections to make your trip a little easier. PENFED and USAA come go done in flames!!!!!!!!! In my first month I earned 42.47 dollars in cash back and I had the account set up to auto redeem the cash rewards into America Access account. If you're wondering whether PenFed Promise Visa Card is the right card for you, read on. P.S. The PenFed Platinum Rewards Visa Signature® Card is a good rewards credit card that’s kept from excellence by a few manageable flaws. Credit Karma, LLC. 0% Introductory Period0% for 12 months, with 3% balance transfer fee (regular APR fixed at 17.99% thereafter; offer valid through 3/31/21) (If you take advantage of this balance transfer, you will immediately be charged interest on all purchases made with your credit card unless you pay the entire account balance, including balance transfers, in full each month by the payment due date. Now my CL limit after 3 years is 38K don't have go with PENFED or USAA Bank both are not lender friendly and horrible rates. I have perfect credit! Pentagon Federal Credit Union Credit Card author review by Beverly Harzog Pentagon Federal Credit Union (PenFed) is a large American financial institution that has been around since 1935. If you’re a travel aficionado and you’re already a PenFed Credit Union member, this card may be a good choice for you.But in addition to that, we’d recommend this card if you’re a military member (specifically, “active duty, reserve, honorably discharged, or retired”) or if you already have an Access America checking account with PenFed. Complaints about it being as slow as the old modem dial-up days falls on deaf ears. 5 17%. There are no monthly service fees as long as you maintain at least $500 in the account. Copyright © 2021 CreditCards.com a Red Ventures Company. Trying to call "customer service" is as bad as going to the dentist. Unless you are an Honors Advantage member, your cash back can be redeemed only as a statement credit or a deposit into a PenFed account. Consumer Reports rating: 92 (21% of issuers ranked higher), Google Play Store mobile app rating: 4.4/5, 2% cash back for current/former military members or with Access America checking account, No limit on how much cash back you can earn, Can redeem only as a statement credit or deposit in PenFed account, unless you are an Honors Advantage member. By clicking "See my odds" you agree to our Terms of Use (including our Prequalification Terms) and Privacy Policy. For qualifying card members, the rate goes up to 2 percent cash back on every purchase. The purpose of a bank is to hold my money but at the same time I feel if I would like to take advantage of offers I would like to have a bank that lends to good credit applicants. PenFed’s rewards cards would gel nicely with the Gold Visa, but really any rewards credit card would pair well. Auto, homeowners, and renters insurance services offered through Credit Karma Insurance Services, LLC (dba Karma Insurance Services, LLC; CA resident license #0172748). and Credit Karma Offers, Inc. are not registered by the NYS Department of Financial Services. Updated: Dec … Also, rewards expire after five years. While this is a relatively modest amount compared to the best sign-up bonuses on cash back cards, it is an impressive bonus for a 2 percent cash back card. Neither the Citi Double Cash card nor the Fidelity Rewards Visa Signature card includes a sign-up bonus, so this feature gives the PenFed Power Cash Rewards card an edge over those two cards. It is not our partner’s responsibility to ensure all posts or questions are answered. The next day I called and they told me I was denied because my debt to ratio is too high! I asked to speak to a manager and was on hold forever, I finally hung up. I was reading about Penfed's reward card. CreditCards.com credit ranges are derived from FICO® Score 8, which is one of many different types of credit scores. Quick approval, good customer service, and very willing to work with you (assuming you are willing to work with them, re: sending in paystubs, etc.). In addition to PenFed checking and savings accounts, members can also access home, car, credit card… All these bad reviews stem from getting denied, which I think is in appropriate. Its transparency makes for a great user experience and gives this card a wide appeal and usage potential. $351. Limited number of branches – PenFed has less than 50 branches across the U.S. Check the data at the top of this page and the bank’s website for the most current information. Compared to Gieco same coverage quoted 78 dollars a month under their military discount program. Use this card for all of your purchases, since the general rewards rate is high. However, we do receive compensation when you click on links to products from our partners. Ignore the naysayers and give PenFed a shot. Credit Karma® is a registered trademark of Credit Karma, LLC. PenFed Promise Visa Card is a credit card issued by PenFed Credit Union. 6 Reviews. These terms allow CreditCards.com to use your consumer report information, including credit score, for internal business purposes, such as improving the website experience and to market other products and services to you. Please call Member Support at 833-675-0553 or email legal@creditkarma.com. This compensation may impact how and where products appear on this site, including, for example, the order in which they appear within listing categories. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. Privacy Policy, Essential news and expert tips in your inbox every week. FYI for USAA insurance quoted under military discount 115 a month for all 3 of my cars. See the online credit card applications for details about the terms and conditions of an offer. Credit card products: In addition to simple debit and credit cards PenFed has rewards cards and military credit cards. Your personal information and data are protected with 256-bit encryption. This is a problem for people who want the comfort of … $100 statement credit after spending $1,500 in the first 3 months of account opening While the PenFed Gold doesn’t offer any rewards on purchases, there is a welcome bonus attached. Anyway, I say try PenFed out if you're looking for a good credit union. Neither PenFed or CK is running a scam; people just need to calm down and realize they made the actions, not CK or PenFed (and saying CK is at fault for putting up the ad is idiotic. While there are many points-based cards that offer a 2 percent rewards rate, a 2 percent cash back card is a rare phenomenon. But before I get into the details of the card, you’re probably wondering exactly what the Pentagon Federal Credit Union is. The guaranteed cash back rate is 1.5% on all purchases with the option to earn as much as 2%. Pentagon Federal Credit Union provides user friendly, convenient and secure deposit banking with a good network of ATMs, excellent online and phone services and solidly competent staff. the "Apply Now" button, you can review the credit card terms and conditions on the issuer's web site. Verified Customer. Along with other credit criteria as set by PenFed, excellent credit is required--although credit requirements vary by card issuer, an excellent credit score is loosely defined as currently being in the 730-850 range. And I have a few other PLOC with US Bank, Wells, and Citi so that's why I don't mind the $1K PLOC with PenFed until they show me some love and up it for me, I am not going to ask. And with no fees and low rates, I don't see how anyone could complain about the Promise card. I always look for a conservative bank. Also, as mentioned above, card members – with the exception of current and former military members – must enroll in an Access America checking account in order to receive the 2 percent cash back rate. Keep an eye on your inbox—we’ll be sending over your first message soon. CanDo "The right atttitude is everything" ... Just applied for a credit card with Penfed and it says your loan is under review. Good luck! You’ll get the most value from this card if you use it for gas and grocery purchases. You want a simple rewards program with no bonus categories to enroll in or keep track of. Card which gives you 5 % on all purchases Note that current and former members of PenFed cards! Dba credit Karma mortgage, Inc. are not provided, reviewed, approved, endorsed or commissioned by our partners... 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