ALEXANDRIA, Va. – Pentagon FCU, which has been aggressively cutting fees on its cards and mortgage programs over the past 12 months, on Tuesday said it is eliminating the foreign transaction fee from the remainder of its credit card programs currently available in its card portfolio.
PenFed said all cardholders traveling overseas with a PenFed credit card can be certain that they will not be paying a foreign transaction fee, no matter which PenFed card they carry.
PenFed’s two most popular cards, The PenFed Premium Travel Rewards American Express Card and the PenFed Promise Card, already have no foreign transaction fee. The credit union has now eliminated the fee from its Platinum Cash Rewards Card, Visa Gold and Visa Classic and MasterCard programs, which it said is a “competitive distinction” in the card industry.
The foreign transaction fee elimination on the remaining PenFed credit card programs is effective immediately. The new terms will apply to both new cardholders and existing PenFed cardholders.
