PenFed balance transfer credit cards

PenFed cards don’t have spectacular balance transfer promo APRs. However, a few of them offer excellent rewards, and others offer potentially low ongoing APRs.

Compare PenFed balance transfer credit cards

{"niche":"USCCF"}

Transfer amount

Current APR %

Calculate

Sort by:

Name	Product	Amount saved	Balance transfer APR	Balance transfer fee	Recommended minimum credit score	Filter values
PenFed Power Cash Rewards Visa Signature® Card			0% intro for the first 12 months (then 17.99% variable)	3%	670		2% cash back for all PenFed Honors Advantage members and 1.5% cash back on all purchases made with your card.	View details	Compare	loading Fetching your data...
PenFed Platinum Rewards Visa Signature® Card			0% intro for the first 12 months (then 17.99% variable)	3%	670		Earn 5x points on gas at the pump and 3x points on groceries. Earn 1x points on all other purchases.	View details	Compare	loading Fetching your data...
PenFed Gold Visa® Card				3%	670		Low APR on all purchases including cash advances.	View details	Compare	loading Fetching your data...
CardMatch™ from creditcards.com			See issuer's website		300		Use the CardMatch tool to find cards you're likely to qualify for with your credit score, without a hard pull on your credit.	See offer View details	Compare	loading Fetching your data...

loading

Load More

Compare up to 4 providers

Clear selection

Compare

How to apply for a balance transfer with PenFed

1. Pick a PenFed card, then check its terms.
   On the PenFed card page, click on Interest & fee information. Check for a promo APR, whether you’ll pay balance transfer fees and if an ongoing APR applies after your promo APR expires.
2. Apply for the card.
   You have to be approved before you apply for a balance transfer. Then you must wait at least 24 hours before requesting a transfer.
3. Request a balance transfer.
   You can request a transfer by logging in to your account or calling PenFed support.
4. Wait for your balance transfer to complete.
   Keep paying your creditors as you wait for your transfer to complete. This will help you avoid late fees and dings to your credit score.

Eligibility requirements

You can apply for a PenFed credit card if:

• You’re willing to become a PenFed member. PenFed membership is open for everyone to apply with or without a military affiliation. But once you apply for the card, you must make a $5 deposit into a PenFed savings account.
• You’re at least 18 years old.
• You have a valid Social Security number or tax ID number.

What do I need to apply?

Here’s the information you’ll need to apply for PenFed credit card:

What are the benefits and drawbacks of a balance transfer with PenFed?

Consider a balance transfer card from another brand

Citi® Diamond Preferred® Card

• 0% Intro APR for 18 months on purchases from date of account opening and 0% Intro APR for 18 months on balance transfers from date of first transfer. After that the variable APR will be 14.74% - 24.74%, based on your creditworthiness. Balance transfers must be completed within 4 months of account opening.
• There is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater
• Get free access to your FICO® Score online.
• With Citi Entertainment®, get special access to purchase tickets to thousands of events, including concerts, sporting events, dining experiences and more.
• Shop with confidence knowing that you have dependable protection benefits, including $0 Liability on Unauthorized Purchases and Citi® Identity Theft Solutions.
• The standard variable APR for Citi Flex Plan is 14.74% - 24.74%, based on your creditworthiness. Citi Flex Plan offers are made available at Citi's discretion.

Read less

Read more

Apply now
Read review

Not set on PenFed? Take our quiz to find your next card.

What debts are eligible for a balance transfer with PenFed?

Can I transfer balances to another PenFed card?

No. This policy is standard across most US banks.

How long will it take to complete a balance transfer with PenFed?

It usually takes up to eight business days to complete a PenFed balance transfer.

I got the card. Now what?

• Check that your balance transfer has posted. Look for your transfer in your online transaction history. If you want to be 100% sure your transfer has posted, call PenFed support.
• Keep up with payments. Now that you’ve transferred your balance to PenFed, you’ll need to make payments according to the provider’s rules. PenFed says it may cancel your promo APR if it doesn’t receive your card payment within 60 days of the due date.
• Consider setting up automatic payments. Also, consider making a month-by-month plan to pay off your debt before your promo APR expires.
• Contact customer service. Call 800-247-5626 if you have questions about your credit card.

Bottom line

PenFed offers promo APRs only for balance transfers and not on purchases. However, many of the provider’s cards offer excellent rewards. And you’ll find cards that offer low ongoing APRs for those who qualify.

If you’re not sure a PenFed card is best for your balance transfer, consider balance transfer cards from other providers.

Frequently asked questions

• Am I guaranteed a low APR for a PenFed card?

  No. Typically, a credit card has a range of ongoing APRs you might receive. With excellent credit, you might qualify for an APR at the bottom of that range. With shakier credit, however, you might receive a high APR.

• Can I carry a balance as my promo APR expires?

  Yes. However, your balance will accrue interest at the normal APR.

• Do PenFed cards have penalty APRs?

  Yes, PenFed cards impose penalty APRs if it doesn’t receive your payment within 60 days. Other providers assign a penalty APR for any late or returned payments.

  The PenFed Promise Visa® Card doesn’t have a penalty APR.