ALEXANDRIA, Va. – Pentagon FCU is shopping for credit card holders with outstanding balances at other issuers by offering a 4.99% rate on all balance transfers through June 30--for the life of the balance.
"What sets PenFed apart from the competition is that not only does our offer waive the transfer fee, but the promotional rate is locked in for the life of the balance,” said Kevyn Myers, executive vice president, collections and card services, for the $16 billion credit union.
"If someone is carrying a balance at a higher rate at any other financial institution, then they should seriously consider calling PenFed today," stated Myers.
The promotional 4.99% rate is good on balance transfers made from April 1 through June 30, for the life of the balance. After June 30, the rate for any new balance transfers will be a variable 9.99% and will vary with the market based on the Prime Rate.
There are no fees on transfers made during the promotion. The fee for the balance transfers made after June 30 will return to 3% per transaction. This transaction is subject to credit approval.
The promotion is available on many of PenFed's "A-list" credit cards; includng the PenFed Premium Travel American Express Card, Platinum Cash Rewards Card, and Platinum Rewards Card.
