Editor’s Note: These offers are no longer available. Please see the list of 0% APR balance transfer credit cards for the current balance transfer credit card offers.
As a followup to my recent post about PenFed credit card offers, as well as the list of balance transfer credit cards which reviewed the best current balance transfer credit card offers, I wanted to highlight an e-mail that I recently received from PenFed regarding their transfer fees…
It seems that they’ve decided to waive the balance transfer fee associated with several of their cards, including the PenFed Premium Travel Rewards American Express Card and the PenFed Visa Platinum Cash Rewards Card. While none of their cards offer 0% on balance transfers, they’re still a pretty good deal.
In addition to the waived fees (normally 2.5% up to $100), both cards offer a 24 month promo period with a balance transfer rate of 4.99%. Like I said, not as good as 0%, but 24 month offers are almost unheard of, and 4.99% is still a great deal compared to the much higher rates that most card issuers are charging.
This rate is also significantly better than you can get from alternative lending sources such as Lending Club. Just keep in mind that this is a time-limited promo, expiring on June 30, 2010.