Pentagon Federal Credit Union is now offering a new credit card that features absolutely no fees of any kind. The PenFed Promise Card is a no-frills, no annual fee card that currently offers an intro APR of 7.49% on both purchases and balance transfers for the first 36 months. After that, the interest rate is variable, tied to the Prime Rate, and currently set at 9.99%.

With no rewards program, it’s a credit card that’s about as easy to understand as possible. There are no transaction or penalty fees of any kind. That includes foreign transaction, balance transfer, cash advance, late payment, over credit limit or returned payment fees. Cardholders must sign up for e-statements for all their active accounts. For more info, see this link.