PenFed: 2.99% Balance Transfer for Life
Monday, March 30th, 2009PenFed is now offering a 2.99% balance transfer offer for life on its Visa Platinum Rewards card.
While no other concrete details have been mentioned, PenFed’s current balance transfer offer has a 2.5% fee with a min of $10 and a max of $100.
I was unable to independently confirm the offer, as the customer rep that I reached claimed that details aren’t available until the offer is actually valid, so this is something worth watching. I’ll update this post once more comes out.
Edit 4/1: This deal is confirmed, with the same balance transfer fee as before: 2.5% with a min of $10 and a max of $100. The 2.99% APR is valid for the life of your transferred balances when you transfer them to your Visa Platinum Rewards Card. See the offer here.
Note: for PenFed newbies, membership in the credit union is required in order to apply. See this page for an overview of ways to become eligible.
(Via FW)
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April 16th, 2009 at 5:17 am
I have a PenFed visa and although I use it for purchases and payoff balance every month, I think that their minimum payment is $15 plus finance charges.
So, a 9,000 balance transfer could take some 50 years to repay at $15 per month towards the principal.