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Apply online for PenFed Premium Travel Rewards American Express® Card
About Our Ratings
Credit Needed
Excellent

PenFed Premium Travel Rewards American Express® Card Review

Pros & Cons

  • No annual fee
  • Not only does the card offer a 0 percent APR for 12 months on balance transfers, but it rewards you for making those transfers with up to a $100 statement credit for qualifying transfers.
  • This card earns just 1 point per dollar unless you’re booking flights (5 points per dollar on flights). If you’re looking to rack up points/miles on everyday purchases, look for a card with a higher point-to-dollar earning ratio, like the Barclaycard Arrival Plus™ World Elite MasterCard®.

Top Features

Points or Miles
1-5 points/$1
Bonus Miles or Points
20,000 bonus points
when you spend $2,500 within the first 3 months of opening the card account
Purchase APR
10.24% to 17.99% when you open your account, based on your creditworthiness.* Your APR will vary with the market based on the Prime Rate.
Annual Fee
$0

Full Review

Curtis Arnold Editor-in-chief

This card was just awarded with a 2016 CardRating's Editor's Choice Award for being one of the best2016 CardRating's Editor's Choice Award travel cards on the market. This card offers 5 Points on airfare purchases and 1 Point on all other purchases. Card members enjoy a premium collection of travel privileges. If you spend $2,500 in the first 3 months of opening the Card account, you can receive 20,000 bonus points. This card requires excellent credit. The post-introductory variable APR for the unpaid balance and any new balance transfers is based on your creditworthiness and will vary with the market based on the Prime Rate. Downside: The fee for balance transfers is 3% per transaction and there is a moderate penalty APR. (American Express is a CardRatings.com advertiser)

This card compared to other travel rewards cards

Points or Miles
1-5 points/$1
2X miles/$1 on all purchases. Get 5% miles back to use toward your next redemption, every time you redeem
3X points for flights booked directly with airlines. 2X points at US restaurants, US gas stations, and US supermarkets. 1X points on other purchases. Terms and limitations apply
Bonus Miles or Points
20,000 bonus points
when you spend $2,500 within the first 3 months of opening the card account
40,000 bonus miles when you spend $3,000 on purchases in the first 90 days - that's enough to redeem for a $400 travel statement credit
Receive 25,000 Membership Rewards® Points after you spend $2,000 on purchases on your new Card in your first 3 months of Card Membership.
Purchase APR
10.24% to 17.99% when you open your account, based on your creditworthiness.* Your APR will vary with the market based on the Prime Rate.
16.24% or 20.24%* Variable 
N/A 
Annual Fee
$0
$89 - Waived first year
Introductory annual fee of $0 for the first year, then $195.
Rates and Fees
The card is best for eligible members at the Pentagon Federal Credit Union who travel a great deal.
CardRatings.com Editorial Staff

PenFed Premium Travel Rewards American Express® Card details

Balance Transfer Intro APR
0%
Balance Transfer Intro Period
12 months
Purchase Intro
APR:
N/A
Purchase APR
10.24% to 17.99% when you open your account, based on your creditworthiness.* Your APR will vary with the market based on the Prime Rate.
Annual Fee
$0
see more  

Credit Card Rate Information:


 
  Purchase
  Balance Transfer
  Cash Advance
Index:
 Prime
 Prime
 Prime
Margin:
 6.74 - 14.74
 6.74 - 14.74
 6.74 - 14.74
APR:
  10.24% to 17.99%
when you open your account, based on your creditworthiness.* Your APR will vary with the market based on the Prime Rate.
 9.99% - 17.99%
 10.24% to 17.99% when you open your account, based on your creditworthiness.* Your APR will vary with the market based on the Prime Rate.
APR Floor:
 None
 None
 None
Intro Rate:
 N/A
 0%
 N/A
Intro Period:
 N/A
 12 months
 N/A


Finance Calculation Method:
 Average Daily Balance
Default/Penalty APR:
 17.99%
Default/Penalty Margin:
 N/A
Default/Penalty APR Floor:
 None
Penalty/Default Trigger:
 

Credit Card Fee Information:


Annual Fee:
 $0
Foreign Transaction Fee:
 None
Late Fee:
 Up to $25
Over-the-limit Fee:
 None
Balance Transfer Fee:
3% per transaction  


Notes:

Rebate Description:
 
Special Notes:
 PenFed Premium Travel Rewards American Express® Card is of one of CardHub's "Best Travel Cards for 2015". Earn 20,000 bonus points when you spend $2,500 within the first 3 months of opening the Card account.
Credit Card More Information:

Card Issued By:
 Pentagon Federal Credit Union
General Correspondence Address:
 PO Box 1432
Card Type:
 American Express
Card Class:
 Platinum
Card Category:
 Credit Card Deals, Travel Rewards, Low Interest
States Available In:
 
Minimum Credit Limit:
 
Maximum Credit Limit:
 
Credit Limit Notes:
 

What Pentagon Federal Credit Union says about this card

  • 0% APR promo balance transfer rate for 12 mos. After that, the APR for the unpaid balance and any new balance transfers will be 10.24% to 17.99%. APR will vary with the market based on Prime Rate. 3% balance transfer fee per transaction. Subject to credit approval.
  • Rate and offers current as of August 1, 2016 and subject to change.
  • Earn 5 points on airfare purchases.
  • Earn 1 point on all other purchases.
  • 20,000 bonus points when you spend $2,500 within the first 3 months of opening the card account
  • No annual fee and no foreign transaction fees
  • Rates as low as 10.24% APR
  • Chip Enabled for Added Security
  • Federally insured by NCUA

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Special offers
Currently available on the PenFed Premium Travel Rewards American Express® Card
20,000 bonus points
When you spend $2,500 within the first 3 months of opening the card account

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Apply online for Barclaycard Arrival Plus™ World Elite MasterCard®

Barclaycard Arrival Plus™ World Elite MasterCard®

  • Earn 40,000 bonus miles after you spend $3,000 on purchases in the first 90 days - that's enough to redeem for a $400 travel statement credit
  • Earn 2X miles on all purchases
  • Get 5% miles back to use toward your next redemption, every time you redeem
  • Chip card technology, so paying for your purchases is more secure at chip-card terminals in the U.S. and abroad
  • No foreign transaction fees on anything you buy while in another country
  • 0% introductory APR for 12 months for each Balance Transfer made within 45 days of account opening. After that, a variable APR will apply, currently 16.24% or 20.24%, depending on your creditworthiness.
  • Complimentary online FICO(R) Credit Score access for Barclaycard Arrival cardmembers
Credit Needed:
Excellent/Good
Apply online for Premier Rewards Gold Card from American Express

Premier Rewards Gold Card from American Express

  • Receive 25,000 Membership Rewards(R) Points after you spend $2,000 on purchases on your new Card in your first 3 months of Card Membership.
  • 3X points for flights booked directly with airlines. 2X points at US restaurants, US gas stations, and US supermarkets. 1X points on other purchases. Terms and limitations apply.
  • No matter where you're traveling, when you use your Premier Rewards Gold Card there are no foreign transaction fees from American Express.
  • $100 Airline Fee Credit. Up to $100 a year in baggage fees and more at one airline.
  • Get a $75 hotel credit on qualifying charges, plus a room upgrade upon arrival, if available with The Hotel Collection at americanexpress.com/hc. Terms apply.
  • There is a $0 introductory annual fee for the first year, then $195.
  • Terms and limitations apply.
Credit Needed:
Excellent