Annual Percentage Rate (APR) for purchases	% when you open your account, based on your creditworthiness.* Your APR will vary with the market based on the Prime Rate.
APRS for balance transfers	% introductory APR for 12 months on balance transfers made in the first days after account opening. After that, the APR for the unpaid balance will be a standard non-variable rate of %.
APR for cash advances	%
Penalty APR and when it applies	% if your minimum payment is not received within 60 days, your entire account is subject to change to the non-variable penalty APR. The penalty APR will remain in place until you make three consecutive monthly payments on or before the due date.
How to avoid paying interest on purchases	Your due date is at least 25 days after the close of each billing cycle. We will not charge you interest on purchases if you pay your entire account balance, including balance transfers and cash advances, by the due date each month. We will begin charging interest on cash advances and balance transfers on the transaction date.
Annual fee	None
Cash advance fee	None
Balance transfer fee	% per transaction2

*Rates are based on an evaluation of applicant credit. Your actual APR will be disclosed at the time of credit approval.

Credit card applications completed online will require your agreement to receive application notifications and disclosures electronically.

Cardholders may sign up for free electronic statement notification to avoid paying a $ fee for mailed paper statements.

Rates and offers current as of and are subject to change. 

**Cash advances, cash-like transactions, credit card checks, balance transfers, and account fees are excluded from earning cash rewards.

ƚAccounts that are issued and approved will receive a $100 statement credit upon spending in purchase transactions within 90 days of account opening. Cash advances, credit card checks, and balance transfers do not qualify as purchase transactions. Each account is eligible for 1 statement credit of $100. Please allow 4 weeks after spending to receive the statement credit.

ƚƚTo qualify for the PenFed Honors Advantage Program you must 1) be in an active military service status, a member of the Reserves or National Guard, an honorably discharged U.S. Military Veteran or retired from such service OR 2) the member must be the primary owner on both the credit card and checking accounts of any existing open PenFed product, excluding PenCheck Limited accounts, or open a new Access America Checking or Free Checking account with PenFed. Members with a qualifying Free Checking account must also 1) maintain a minimum $500 daily balance OR 2) set up monthly direct deposits of $500 or more in order to maintain Honors Advantage Eligibility. A minimum balance or direct deposit is not required to maintain a Free Checking account.

Refer to the Program Rules, Terms and Conditions (PDF) for detailed information.

¹Your credit line is used to determine if your account qualifies for Traditional or Signature benefits. If your credit line is $5,000 or more then it qualifies for Signature benefits.

²If your account is eligible for one or more promotional offers, applicable terms will be provided at that time. This transaction is subject to credit approval.