By Laura Woods
Posted in Credit Cards
Pentagon Federal Credit Union (PenFed) is proud to announce even more competitive rates for its newest rewards credit card. If you’re in military service, the National Guard, the Reserves or are an honorably discharged veteran of the United States Military, you’re eligible to apply for the PenFed Defender Visa Signature® Card. The card features 1.5% unlimited cash back on every purchase.1
The PenFed Defender Visa Signature Card was recently honored as one of the “Best Military Cards of 2014” by CardHub because it offers a great value to those currently serving the U.S. and veterans who dedicated a portion of their lives to serving the country. Offering a credit card exclusively to military service members is PenFed’s way of saying thank you.
The card also features an 8.99% to 17.99% APR for purchases and cash advances based on your creditworthiness.2 Cardholders also enjoy 4.99% APR promotional balance transfer rates for 12 months on balance transfers made between April 1, 2015 and June 30, 2015. After that, the rate for the unpaid balance and any new balance transfers will range from 8.99% to 17.99% APR based on your credit worthiness. Your new rate will also vary with the market based on the prime rate. This transaction is subject to credit approval.
In addition to exciting new features that were not available when the card was launched last year, such as being chip-enabled for extra security and offering Apple Pay compatibility for your virtual wallet, the PenFed Defender Visa Signature® Card provides the following benefits:
The PenFed Defender Visa Signature® Card also offers a number of attractive perks, including:
PenFed currently offers two credit cards exclusively to veterans. In October 2012, the credit union introduced the PenFed Defender American Express® Card,3 followed by the PenFed Defender Visa Signature® Card in November 2014. The main deciding factor of choosing between the two credit cards comes down to personal preference, as both offer outstanding features and rewards.
These two credit cards are an example of PenFed’s commitment to service members and veterans. The credit union knows these individuals and their families can endure unique financial situations and helps them by providing user-friendly financial tools and credit card options.
PenFed was established in 1935 and has grown into one of the country’s strongest financial institutions, with over $18 billion in assets. It serves more than 1.3 million members in all 50 states, the District of Columbia and on military bases in Guam, Puerto Rico and Okinawa. The credit union is committed to helping its members “do better” and succeed in making their dreams realities.
Serving a diverse member base, PenFed offers a variety of products to meet everyone’s needs, including auto loans, credit cards, mortgages, checking and savings accounts and a variety of other financial products. Membership is open to members of the United States Military and Uniformed Services, United States government employees and associates of a number of other organizations, groups and companies.
Rate and offers current as of June 1, 2015 and are subject to change. ¹Cash advances, credit card checks, and balance transfers are excluded from cash rewards.
²Purchase and cash advance APR is 8.99% to 17.99% when you open your account, based on your creditworthiness. Your APR will vary with the market based on the Prime Rate. Rates are based on an evaluation of applicant credit. Your actual APR will be disclosed at the time of credit approval. Not all applicants will qualify for the lowest rate.
³This Credit Card program is issued and administered by PenFed. American Express® is a federally registered Service mark of American Express® and is used by PenFed pursuant to a license.
Federally insured by NCUA.
Pentagon Federal Credit Union is a client of ConsumerTrack Inc., parent company of Military Banking Rates.