Pros

Low APR: 0% introductory APR on purchases made the first 15 months after account opening. After that, the APR for the unpaid purchase balance and any new purchases will be 16.49% to 17.99% based on your creditworthiness and will vary with the market based on the Prime Rate.

Balance Transfer Offer: The card provides a 0% promotional balance transfer rate for 12 months on transfers made until December 31, 2023.

No Foreign Transaction Fees: This makes the card a good choice for international travelers.

Credit Union Membership Perks: As a PenFed Credit Union member, you could take advantage of lower rates and better customer service.

Cons

Membership Requirement: To access this card, you must first become a member of the Pentagon Federal Credit Union.

No Rewards Program: Unlike many other credit cards, the PenFed Gold Visa® does not offer a rewards program for purchases.

Balance Transfer Fee: Although there's an initial promotional balance transfer rate, a 3% balance transfer fee does apply.

Limited Support: Customer service might not be as accessible or comprehensive as some larger, traditional banks.

Why Choose It

The PenFed Gold Visa® Card is a savvy pick for those seeking lower interest rates and useful balance transfer options. The absence of foreign transaction fees also marks it as a smart choice for the global trotters. While it lacks a rewards program and requires credit union membership, its lower rates and better customer service often associated with credit unions might outweigh these drawbacks. The balance transfer fee is a small price to pay for the financial flexibility provided by the promotional rate. For those already considering credit union membership, this card is an enticing proposition.