As mentioned before you can join the military organization for $20 or they also have an option for Red Cross workers or Volunteers. I have been a volunteer for the red cross and signed up that way. No hassle.
For those that do not belong to or have a family member in the military, just choose American Red Cross volunteer and it will work. They will ask you to make a $5 (I think) donation to join and just choose will pay later and you can apply. Once you've been approved or denied it does not matter. I've yet to pay for anything (except for my auto loan).
edit: By the way, I am NOT an American Red Cross volunteer. They do not check.
I'm in the Army and just signed up for membership with PenFed. Hopefully I can take advantage of this offer as it would make it a lot easier to pay off a credit card bill with such a low interest rate. Thanks!
No offer is ever for life......things will change.....
Please also pay attention to this information
Credit Card Summary of Terms
Annual Percentage Rate (APR)
Visa Gold 12.49%
Visa Platinum Rewards 13.99%
Visa Classic 13.99%
MasterCard Standard 13.99%
Balance Transfer APR 5.99% for the life of the balance transfer
Platinum Balance Transfer APR 2.99% for the life of the balance transfer
Default APR* 17.99%
MasterCard Standard NONE
Visa Classic NONE
Visa Gold NONE
Visa Platinum NONE
Visa Platinum Rewards NONE
Minimum Finance Charge NONE
Transaction Fee for Purchase NONE
Grace Period for Repayment of Balance on Purchases 25 days on average
Method of Computing the Balance for Purchases Average daily balance including new purchases
Cash Advance Fee NONE
Late Payment Fee $39 per month
Over Credit Limit Fee $15 per month
Balance Transfer Fee 2.5% (min. $10-max. $100)
Special Notice: As of April 1, 2009, the Visa Gold credit card rate will be increasing to 12.49% APR.
*If we do not receive the amount due by your second due date, your account is subject to change to the Default APR for purchases, cash advances and balance transfers. The Default APR will remain in place until you make three consecutive monthly payments on time. After three consecutive months of on-time payments, the purchase and balance transfer rates will revert to the current Purchase APR. The Balance Transfer rate will not return to the special promotional rate for the existing balance transfer.
Rates and other conditions are subject to change. The information about these cards is accurate as of as of 1 April 2009 . This information may have changed after that date. To find out what may have changed call 1-800-247-5626.
International Service Fees: Visa and MasterCard will assess 1% of the transaction amount for multi-currency transactions and 0.8% of the transaction amount for a single currency transaction. A single currency international transaction occurs when the country in which the card is issued is different from the merchant country, even when only a single currency is involved.
Penfed is a waste of time just to get approved for a credit card. perfect credit and all and you still get denied, pyramiding debt is there excuse with utilization under 5%
I agree. I have a credit score of about 730, and make a good salary. I've never had a single missed or late payment from any of my creditors, and was still denied.
Really I'm surprised. There must be some reason (debt to income ratio) or something.
I disagree completely. Aside from needing someone in your family in the military (or you could just join one of several military-linked groups), they have been the most hassle-free credit card provider I have used.
I agree with this and it's nice since you end up with a positive return even using it in foreign countries. Although the schwab/fidelity cards are supposed to be better ( no foreign transaction fee)
The only complaint (and it's less now since they updated their interface slightly) is that the website could use a little OOmph. I wish I could schedule my payments to the credit card in advance.
Oh man, I HATE carrying a credit card balance, but this is a MUCH better rate than hubby's school loan (7%). Anyone know if they will send Balance Transfer Checks good for the same terms? I can't find that info on the site.
I just got a car loan at 3.99% for 60 mos and it was the easiest thing ever (and no I'm getting into debt for something stupid. I have the cash in the bank earning more than that and I'll sacrifice a couple bucks for the sake of liquidity any day). So far you are the first person I've seen complain about penfed.
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