PenFed Gold Visa Card review Bankrate Main Menu Mortgages Financing a home purchase Refinancing your existing loan Finding the right lender Additional Resources Looking for the perfect credit card? Narrow your search with CardMatch Main Menu Banking Compare Accounts Use calculators Get advice Bank reviews Looking for the perfect credit card? Narrow your search with CardMatch Main Menu Credit cards Compare by category Compare by credit needed Compare by issuer Get advice Looking for the perfect credit card? Narrow your search with CardMatch Main Menu Loans Personal Loans Student Loans Auto Loans Loan calculators Looking for the perfect credit card? Narrow your search with CardMatch Main Menu Investing Best of Brokerages and robo-advisors Learn the basics Additional resources Looking for the perfect credit card? Narrow your search with CardMatch Main Menu Home equity Get the best rates Lender reviews Use calculators Knowledge base Looking for the perfect credit card? Narrow your search with CardMatch Main Menu Real estate Selling a home Buying a home Finding the right agent Additional resources Looking for the perfect credit card? Narrow your search with CardMatch Main Menu Insurance Car insurance Homeowners insurance Other insurance Company reviews Looking for the perfect credit card? Narrow your search with CardMatch Main Menu Retirement Retirement plans & accounts Learn the basics Retirement calculators Additional resources Looking for the perfect credit card? Narrow your search with CardMatch Advertiser Disclosure

Gold Visa Card review

Written by Credit Card Reviews Writer Bankrate expert Garrett Yarbrough strives to make navigating credit cards and credit building smooth sailing for his readers. After regularly featuring his credit card, Sept. 30, 2022 Edited by Senior Editor, Credit Card Product News Emily Sherman is a senior editor for CreditCards.com and Bankrate Credit Cards, specializing in product news and recommendations. She has worked as a writer and editor in the Sept. 30, 2022

Share

Bankrate Logo

Why you can trust Bankrate

At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation for how we make money. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. Terms apply to the offers listed on this page. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. Bankrate Logo

Why you can trust Bankrate

At Bankrate, we have a mission to demystify the credit cards industry — regardless or where you are in your journey — and make it one you can navigate with confidence. Our team is full of a diverse range of experts from credit card pros to data analysts and, most importantly, people who shop for credit cards just like you. With this combination of expertise and perspectives, we keep close tabs on the credit card industry year-round to: Meet you wherever you are in your credit card journey to guide your information search and help you understand your options. Consistently provide up-to-date, reliable market information so you\'re well-equipped to make confident decisions. Reduce industry jargon so you get the clearest form of information possible, so you can make the right decision for you. At Bankrate, we focus on the points consumers care about most: rewards, welcome offers and bonuses, APR, and overall customer experience. Any issuers discussed on our site are vetted based on the value they provide to consumers at each of these levels. At each step of the way, we fact-check ourselves to prioritize accuracy so we can continue to be here for your every next. Bankrate Logo

Editorial Integrity

Bankrate follows a strict , so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.

Key Principles

We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers.

Editorial Independence

Bankrate’s editorial team writes on behalf of YOU – the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information. Bankrate Logo

How We Make Money

You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Bankrate Logo

Insurance Disclosure

Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in . Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

ON THIS PAGE

PREV NEXT

Snapshot

2.8 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. star icon star icon star icon star icon star icon star icon star icon star icon star icon star icon on Pentagon FCU's secure site

Best for low variable APR

Gold Visa® Card

Rewards rate Annual fee Intro offer Intro offer is not available to this Pentagon FCU credit card Regular APR Recommended Credit Score A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Gold Visa® Card Overview

Although we recommend keeping your credit card balance as (preferably at zero), if you know you'll need to carry a balance here and there, the PenFed Gold Visa® Card should be at the top of your list. Its rock-bottom fees and APR, plus a 15-month 0 percent promotional balance transfer APR (3 percent balance transfer fee, non-variable 17.99 percent APR ongoing) on balance transfers made within the first 90 days after account opening, make it a great and one of the with big purchases on the horizon. And since anyone can join the Pentagon Federal Credit Union, these amazing rates and fees make it one of the available to the general public as well.

Pros and cons

Pros

Some of the lowest credit card rates and fees available No annual or foreign transaction fees 15-month 0 percent promotional balance transfer APR (non-variable 17.99 percent ongoing, intro 3 percent balance transfer fee, see terms) on balance transfers made in the first 90 days after account opening Nongovernment employee civilians are also eligible for this card and PenFed membership by opening a share/savings account and keeping it open with at least a $5 balance

Cons

Must be a member of the Pentagon Federal Credit Union to apply No ongoing rewards Minimal card benefits and features

A deeper look at the current card offer

Quick highlights

Rewards rate: N/A Welcome offer: N/A Annual fee: $0 Purchase intro APR: N/A Balance transfer promotional APR: 0 percent for 15 months (non-variable 17.99 percent APR ongoing) Regular APR: 11.49 percent to 17.99 percent variable

Rewards

Unfortunately, the PenFed Gold Visa doesn't earn rewards. If you plan to carry a balance, that's not much of an issue, since even the lowest interest rates will eat the lion's share of any rewards you'd earn. Several cards focused on don't offer ongoing rewards, such as the , but many with slightly higher APRs offer intro APR offers on both purchases and balance transfers.

Benefits

This card's selection of benefits is very limited outside standard Visa security features like 24/7 fraud monitoring, $0 liability for unauthorized purchases, digital wallet compatibility and secure remote commerce (SRC), aka Click to Pay. These benefits are great for making digital transactions safer and easier, but your main perks come from being a member of the .

Pentagon Federal Credit Union perks

PenFed is one of our and backs that up with a variety of member-exclusive benefits. You can receive discounts on a vast range of services, including auto rental and protection, tax filing, college fund planning, home insurance and security, health benefits and even online math tutoring. Plus, you have access to PenFed's and to assist you with your finances. Members of the military preparing for deployment can take advantage PenFed's handy to ease the pre- and post-transition arrangements.

Visa Traditional card benefits

As a standard you'll have access to Visa's basic perks like auto rental collision damage coverage, 24/7 roadside dispatch and travel accident insurance.

Rates and fees

The PenFed Gold Visa card's bread and butter is its incredibly low rates and fees. You won't have to worry about an annual fee or even foreign transaction fees in case you travel with the military. Even the up to $28 late payment fee and up to $25 returned payment fee are lower than average (usually up to $40). The 11.49 percent to 17.99 percent (variable) APR is one of the best interest rates you'll find. The upper end of this range is just above the , even without the best credit. Plus, if you're looking to chip away at an existing balance, the PenFed Gold Visa's 15-month 0 percent promotional balance transfer APR (3 percent balance transfer fee) on any balance transfer in the first 90 days of account opening will keep interest at bay for your entire first year (non-variable 17.99 percent APR thereafter). Just keep in mind the intro APR does not apply to new purchases.

How the PenFed Gold Visa compares to other low-interest cards

As far as low ongoing interest rates go, the PenFed Gold Visa card is hard to beat. PenFed's other credit cards-like the PenFed Power Cash Rewards Visa Signature® Card-offer rewards and extra benefits, but the interest rates aren't as competitive as the Gold Visa. However, it might take a few hoops to apply for this card since you need to become a member of the PenFed Credit Union. If you haven't served the military or the federal government as an employee, you can now simply apply for membership and become eligible by keeping a savings/share account open with at least a $5 balance since military affiliation is no longer required. But if you're PenFed or a credit union, also typically offer rewards with minimal rates and fees. like the Citi Diamond Preferred are also fantastic options if you want to avoid interest for as long as possible. But without rewards and more benefits, the Citi Diamond Preferred card's ongoing value might be as limited as the PenFed Gold Visa's.

Gold Visa® Card

star icon star icon star icon star icon star icon star icon star icon star icon star icon star icon Bankrate Score Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. on Pentagon FCU's secure site Annual fee Intro offer Intro offer is not available to this Pentagon FCU credit card Rewards rate Recommended credit A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Discover it® Cash Back

on Discover's secure site Annual fee Intro offer Intro Offer: Unlimited Cashback Match - only from Discover. Discover will automatically match all the cash back you've earned at the end of your first year! There's no minimum spending or maximum rewards. You could turn $150 cash back into $300. Rewards rate Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, and gas stations, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases – automatically. Recommended credit A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Power Cash Rewards Visa Signature® Card

on Pentagon FCU's secure site Annual fee Intro offer $100 Bonus Offer Statement Credit When you spend $1,500 in the first 90 days Rewards rate 2% Cash Back on all purchases for PenFed Honors Advantage Members 1.5% Cash Back on all purchases made with your card Recommended credit A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Best cards to pair the PenFed Gold Visa with

PenFed's rewards cards would gel nicely with the Gold Visa, but really any rewards credit card would pair well. Just keep in mind that if you carry a balance, you could lose the bulk of any rewards you earn to interest payments. Depending on your spending and location, you might want to consider different reward styles. If you're currently deployed abroad or you travel often, the is an excellent choice. Meanwhile, the is perfect for at-home expenses. If your purchases don't fall within typical bonus categories, you can't go wrong with a like the .

Bankrate s take-Is the PenFed Gold Visa worth it

Whether you've served with the military or not, the PenFed Gold Visa Credit Card is certainly worth considering if you know you may carry a balance from time to time and are a PenFed Credit Union member. Its low rates and fees make it a fantastic opportunity to save money on interest, even if you have less than stellar credit. However, the PenFed Gold Visa carries few additional benefits and doesn't offer ongoing rewards or a zero-interest purchase offer. These missing card features might make other cards with slightly higher APRs worth it.

ON THIS PAGE

Written by Garrett Yarbrough Credit Card Reviews Writer Bankrate expert Garrett Yarbrough strives to make navigating credit cards and credit building smooth sailing for his readers. After regularly featuring his credit card, credit monitoring and identity theft analysis on NextAdvisor.com, he joined the CreditCards.com and Bankrate.com teams as a staff writer to develop product reviews and comprehensive credit card guides focused on cash back, credit scores and card offers. Edited by Senior Editor, Credit Card Product News

Advertiser Disclosure

Bankrate.com is an independent, advertising-supported comparison service. The offers that appear on this site are from companies from which Bankrate.com receives compensation. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within listing categories. Other factors, such as our own proprietary website rules and the likelihood of applicants' credit approval also impact how and where products appear on this site. Bankrate.com does not include the entire universe of available financial or credit offers.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. * See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer. Editorial Disclosure: Opinions expressed here are the author's alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.