PenFed Removes Foreign Transaction Fees From All Its Credit Cards

In what seems to be a growing industry trend, Pentagon Federal Credit Union announced yesterday that it was eliminating foreign transaction fees from all of its credit cards. This move comes on the heels of the news that Discover is also set to drop its foreign transaction fees.

Previously, the only cards from PenFed that did not charge such a fee were The PenFed Premium Travel Rewards American Express Card and the PenFed Promise Card. Now, the fee has been eliminated for all of PenFed’s cards, including the excellent Platinum Cash Rewards Card, its Visa Gold and Visa Classic and MasterCard programs.

Removal of the foreign currency transaction fee is effective immediately for both new and existing cardholders.