PenFed Gold Visa® Card Review

MoneyGeek partners with leading industry experts and advertisers to help you get to your financial happy place. Our content is accurate when posted but offers may change over time. We may receive compensation for partner advertisements, but our editorial team independently reviews and ranks products. Learn more about our editorial policies.

All information about the Gold Visa® Card has been collected independently by Moneygeek.com and has not been reviewed by the issuer.

Gold Visa® Card

Rates & Fees

REVIEW & APPLY

On Issuer's Site

Intro Purchase APR

0% Introductory APR on purchases made the first 15...

APR

17.99% variable

Annual Fee

Recommended Credit

670 – 850 (Good to Excellent)

The PenFed Gold Visa® Card is a solid choice for those looking for straightforward financial advantages. Imagine going on a shopping spree or traveling abroad without fretting about added costs — this card eliminates yearly fees and pesky foreign transaction charges. Plus, it gives you breathing space with its initial interest-free purchase period. However, be mindful that there's a fee involved when transferring balances. Also, while it doesn't overwhelm you with rewards, its simplicity and core benefits make it a reliable card for everyday use.
PROS
- No annual fee
- With 0% intro APR offer
- No foreign transaction fee
CONS
- Charges a balance transfer fee
- Interest charged if not paid in full
- No additional reward incentives
- Introductory Offers
  - Enjoy a 0% introductory APR on purchases for the first 15 months.
- APRs, Fees, and Penalties
  - After 15 months, the regular APR for purchases is 17.99% (variable).
  - A 3% balance transfer fee applies.
  - Interest is charged on all purchases unless the entire balance is paid in full by the payment due date.
- Perks & Benefits
  - No annual fee.
  - No foreign transaction fee.

The PenFed Gold Visa® Card is ideal for those seeking practical financial benefits. It's perfect for shoppers and travelers, with no annual fees and zero foreign transaction costs. Enjoy an initial interest-free period on purchases, adding flexibility to your spending. Although it doesn't offer an extensive rewards program, its straightforward benefits make it a reliable everyday card. Consider the balance transfer fee, but overall, this card provides a practical, hassle-free solution for handling daily expenses and maintaining straightforward financial management.

PenFed Gold Visa® Card Overview

When selecting a credit card, evaluating its features is crucial, as each can significantly influence your financial management and overall user experience.

Intro APR offer - 0% introductory APR on purchases for the first 15 months, then 17.99% (variable) after that
Balance transfer fee - 3%
Regular APR - 17.99% (variable)
Annual fee - $0
Welcome offer - None

Important Card Details

In evaluating the features of the PenFed Gold Visa® Card, it's essential to consider each aspect's potential benefits and implications. Each component uniquely impacts the cardholder's financial experience and strategy, from its APR structure to fees and international use.

Fees

Intro APR

Introductory offers can be enticing, and the PenFed Gold Visa® Card doesn't disappoint. Providing a 0% APR on purchases for the first 15 months allows you to make substantial purchases and settle them without accumulating interest during this timeframe. This feature can be a real game-changer for those planning significant expenditures in the near future.

Rewards

The PenFed Gold Visa® Card doesn't boast many reward benefits commonly seen with other cards. However, other card perks can offset the lack of rewards, such as its no annual fee and 0% intro APR. While rewards can be enticing, they often come with higher fees or specific spending requirements, so it's worth weighing the pros and cons based on your spending habits.

Other Perks

The absence of foreign transaction fees makes the PenFed Gold Visa® Card a trusty companion for international escapades. It ensures you won't get those unwelcome surprises on your statement after a trip abroad. Also, the card's structure around interest can be an advantage. If you pay your entire balance by the due date, you won't be charged interest on your purchases, which can lead to substantial savings for diligent payers.

How the PenFed Gold Visa® Card Compares

In this side-by-side comparison, we delve into the nuanced differences and unique advantages of two popular credit cards, offering insights to help you determine which aligns best with your financial needs and lifestyle.

How This Card Compares

PenFed Gold Visa® Card

Intro APR offer - 0% introductory APR on purchases for the first 15 months, then 17.99% (variable) after that
Balance transfer fee - 3%
Regular APR - 17.99% (variable)
Annual fee - $0
Welcome offer - None
Best for: Those looking for a cost-saving card with an initial 0% APR period and no annual fees, ideal for managing large purchases or existing debt early on.

Power Cash Rewards Visa Signature® Card

Intro APR offer - None
Balance transfer fee - 3%
Regular APR - 17.99% (variable)
Annual fee - $0
Welcome offer - Earn $100 statement credit if you spend $1,500 in the first 90 days
Best for: Consumers aiming to earn a welcome bonus through initial spending, who value a card with no annual fee and can manage a balance with a standard variable APR.

About Grace Pilling

Grace Pilling was the Senior Content Manager for Credit Cards at MoneyGeek. She previously led personal finance teams at Bankrate, CreditCards.com and MoneyUnder30.

Pilling has a bachelor's degree in English from Western Sydney University and a diploma in book editing, proofreading and publishing. She is focused on empowering readers to make informed financial choices that support their best lives, not a company’s bottom line.

Read Full Bio »

*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
Advertiser Disclosure: MoneyGeek has partnered with CardRatings.com and CreditCards.com for our coverage of credit card products. MoneyGeek, CardRatings and CreditCards.com may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.