Note: You can become eligible for CU membership via National Military Family Association (NMFA) or Voices for America's Troops. You will also earn 20,000 bonus points after making $650 in purchases in the first three months that can be exchanged for $200 in gift cards (see more info here). The application page mentions that the current exchange rate would allow redemption of 20,000 points for $200 in air fare.
20,000 bonus points when you spend $2,500 within the first 3 months of opening the Card account
Earn 5 points on airfare purchases
Earn 1 point on all other purchases
No annual fee
No foreign transaction fees
4.99% APR promotional balance transfer rate for 48 Months on Balance Transfers made between October 01, 2014 through October 31, 2014. After that, the APR for the unpaid balance and any new balance transfers will vary with the market based on the Prime Rate, and is currently 9.99%. A 3% balance transfer fee applies to each transfer. This transaction is subject to credit approval.
Automatic enrollment into the PenFed Premium Rewards program
Ability to redeem points for a range of rich rewards, including travel, brand-named merchandise, and gift cards right from PenFed Online Banking.
Complimentary 24-hour concierge service
Two complimentary Lounge Club visits at airports around the world upon spending $15,000 on the Card in a calendar year.
Exceptional travel offers and discounts through the
American Express Travel Privileges program
Comprehensive world-class travel insurance
Roadside assistance and car rental insurance
Balance Transfers Terms:
Transaction is subject to credit approval. All rates and offers subject to change. The interest rates applicable to purchases or cash advances and for prior promotional balances remain unchanged. Balance transfers are treated as cash advances so interest accrues from the date the transfer is posted to your account. Balance transfers of other Pentagon Federal Credit Union credit cards, loans, and/or lines of credit are not eligible for this promotion. PenFed may stop offering this promotional rate for new balance transfers at any time and without prior notice.
You agree to allow 30 days to process your request, pay the amount(s) authorized and transfer the balance(s) to your Pentagon Federal credit card account. You may transfer up to your Pentagon Federal available credit, not to exceed your credit limit authorized by Pentagon Federal Credit Union. Please continue to make minimum payments on your other credit card(s) until the balance(s) have been transferred. All over payments must be refunded by the other institution. Payment of the amount(s) authorized by you may or may not satisfy any outstanding balance(s) on the designated account(s). Pentagon Federal is not responsible for any remaining balance(s) or additional charges with regard to such accounts, nor for any charges resulting in any delay in the payment and transfer of balances. Pentagon Federal reserves the right to refuse multiple transfers from the same credit card. Transferred balances do not qualify for cash rewards or air-travel points under the Visa Platinum Rewards Program. Balance transfers are excluded and do not earn credit toward rewards.