PenFed Scraps Foreign Transaction Fees On Rest Of Its Credit Cards

October 05, 2011, 9:20 a.m. EDT 1 Min Read

Pentagon Federal Credit Union, which has been cutting fees on its cards and mortgage programs over the past 12 months, has eliminated the foreign transaction fee from the remainder of the credit card programs in its card portfolio, it announced Oct. 3.

All cardholders traveling overseas with a PenFed credit card will not be pay a foreign transaction fee, PenFed said

PenFed’s two most popular cards, The PenFed Premium Travel Rewards American Express Card and the PenFed Promise Card, already does not impose foreign transaction fees. Effective immediately, the same policy now applies to the credit union’s Platinum Cash Rewards Card, Visa Gold and Visa Classic and MasterCard programs, which the institution said is a “competitive distinction” in the card industry.

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