Best Credit Card Offers specially for you

About Us  |  Contact Us  |  Articles  |  News  |  Tips  |   Tools
ADVERTISER DISCLOSURE is an independent, advertising-supported web site which is compensated by the credit card issuers whose offers appear on the site. This compensation may impacts how and where the credit products appear on our site, including, the order in which they may appear within credit product lists. does not review or offer all available credit products.

PenFed Drops Foreign Transaction Fees on Credit Cards

[Tuesday, January 3rd, 2012]

Pentagon Federal Credit Union, also known as PenFed, has dropped the foreign transaction fee from their credit cards. This means that any PenFed credit cardholder will be able to make purchases overseas and will not be charged that pesky extra fee. The foreign transaction fee will be eliminated from PenFed credit cardholders immediately for both new and existing customers.

“Staying true to PenFed’s core principles to bring products to our membership that have everyday value is a key element to the successful growth of the credit union,” PenFed Executive Vice President of Credit of Collections, Deborah Ames-Naylor said in a press release. “Eliminating the Foreign Transaction Fee on all of the credit cards in our portfolio is just our way of creating a unique and competitive line of cards that come packed with practical benefits that our members can actually utilize.”

Foreign transaction fees are a big factor consider when signing up for a new credit card. Foreign transaction fees occur when a purchase is made overseas and then a percentage of that transaction is taxed onto the purchase. Depending on the credit card, normal foreign transaction fees range from three to five percent. Capital One credit cards are some of the few credit cards that do not charge any foreign transaction fee.

Credit cards have been revamping their credit card portfolios in order to attract more consumers in a hard market. Since the Great Recession, credit cards have been loosing steam to debit cards and checking accounts. PenFed hopes the change will keep cardholders satisfied with their service.

PenFed’s new change will not affect their “Best in Class” cards — the PenFed Promise card and the PenFed Premium Travel Rewards American Express Card, which do not charge transaction fees. However, the change will affect the PenFed’s Visa Gold, Platinum Cash Rewards Card, MasterCard, and Visa Classic programs.

The Pentagon Federal Credit Union is the United State’s third largest credit union with more than a million members worldwide. They provide services to members of the military, including the Marine Corps, Coast Guard, Department of Defense, Air Force, Army, Department of Defense, Navy, as well as volunteers of the American Red Cross and their family members.

Credit unions have been gaining popularity this month as major banks across America released their monthly debit bees. Experts have reported that credit unions offer low to no-fee debit cards and credit cards. Bank of America announced $5 monthly fees, and Wells Fargo announced $3 fees, and other major banks are following suit.

Read also

Chase Student Card: Now Apply Online
[April 8th, 2020]

Chase has just made its Freedom® Student credit card accessible for online application, which is quite opportunely considering the current state of affairs with the COVID-19 pandemic. Let it be recalled that the card is the first Chase credit card designed specifically for students. It was introduced in 2019, but the only way to apply […]

Continue reading ››

Where to Go for Chase 5% Cash Back in 2020
[December 26th, 2019]

2019 flew by, and now only a week remains until 2020. Most issuers of cashback credit cards have already announced their bonus categories for all 4 quarters of the next year. Chase is no exception. However, the bank disclosed only the first quarter categories leaving the remaining three under a veil of secrecy with the mark “coming soon”.

Continue reading ››

The Average Credit Score in the U.S. Reaches Its Peak
[September 13th, 2019]

FICO, or Fair Isaac Corporation, is a data analytics company best known for its credit scoring model. As the FICO’s official website says, the FICO® Score is currently used by 90 of the top 100 largest U.S. lending institutions.

Continue reading ››
Copyright © 2003-2021 All Rights Reserved strives to keep credit card information up to date and accurate. However, all the credit card information is presented without warranty and can be changed by the credit card issuers at any time. Click the "Apply online" button to see the online credit card application and to review current credit card terms and conditions. Note that can be compensated by credit card issuers when the visitors apply for a credit card through the website.
* The webpage is a free service and an information resource for credit cards and financial products and services available to eligible United States consumers. does not offer any warranties and is not a direct service. There are no guarantees for approval or offers when applying for a credit card. Please refer to the application if you would like more information on each credit card. When you click "Apply" for a particular credit card, please take the time to review the terms and conditions of the product/service at the issuer's website. All logos on the website are property of their respective owners.
Information in these articles is brought to you by Banks, issuers, and credit card companies mentioned in the articles do not endorse or guarantee, and are not responsible for, the contents of the articles.
Disclosure: Not an access card.