While the number and quality of balance transfer offers has been increasing lately, it has been a while since there’s been a notable lifetime balance transfer deal. For a limited time, the PenFed Promise Card offers a promotional balance transfer deal of 4.99% APR for the life of the balance on transfers made now through March 31, 2011 with no balance transfer fees.
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Through December 31, 2010, you can earn 3% cash back on your electronics and sporting goods purchases when you use your PenFed Visa. You’ll continue to earn 5% cash back on gas, 2% on groceries and 1% on everything else.
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Through August 31, 2010, you’ll earn 3% cash back on electronics and home improvements purchases when you use your PenFed Visa Platinum Cash Rewards card. You’ll continue to earn 5% cash back on gas, 2% on groceries and 1% on everything else, as you normally would with the card.
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From now through May 28, 2010, PenFed is offering a Amex-style giveaway of highly discounted travel packages exclusively for its PenFed Premium Travel Rewards Amex cardholders.
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Late last year, Pentagon Federal introduced its Premium Travel Rewards Amex. At the time it appeared most noteworthy because it made PenFed the first credit union to issue an Amex-branded credit card. Upon closer inspection, however, it appears that the credit card merits some serious attention, particularly for those who fly a lot.
Big Signup Bonus
Deal hounds will immediately appreciate the card’s generous signup bonus. It offers 20,000 bonus points when you spend $650 within the first 3 months, enough for a roundtrip airfare ticket or a $200 gift card. But, digging deeper, we see that the card is not just another churning opportunity.
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POTENTIALLY VERY HOT: From August 1 until September 30, 2009, you’ll earn 5% cash back on eligible back to school purchases with your PenFed VISA Platinum Cash Rewards credit card. Eligible purchases include computers, computer peripherals, software, consumer electronics, office supplies and books.
I could not find mention of a cap on rebates for this promotion, which would make it very hot when you actually take a look at the list of retailers which are eligible. Every major electronics store, computer manufacturer and book store is listed, including Apple, Dell, HP, Amazon.com, Best Buy, among a host of others. More info and the list of eligible merchant category codes can be found here.