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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
9.49% 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 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 page was last updated on May 01, 2017

This card compared to other travel rewards cards

Card Name
PenFed Premium Travel Rewards American Express® Card
Points or Miles
1-5 points/$1
For every $1 you spend, you earn 1.5x Miles.
2X points on travel and dining at restaurants & 1 point per dollar spent on all other purchases worldwide
Bonus Miles or Points
20,000 bonus points when you spend $2,500 within the first 3 months of opening the card account
We'll match all the rewards new cardmembers have earned at the end of their first year. No purchase caps or minimums. No signing up. And no limit. Only for new cardmembers.
Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards(R)
Purchase APR
9.49% to 17.99% when you open your account, based on your creditworthiness.* Your APR will vary with the market based on the Prime Rate.
11.74% - 23.74% Variable 
16.74% - 23.74% Variable 
Annual Fee
$0
$0
$95
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
9.49% 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:
  9.49% 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%
 9.49% 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:
 $0
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
Alexandria, VA 22313
Card Type:
 American Express
Card Class:
 Platinum
Card Category:
 Credit Card Deals, Low Interest, Travel Rewards
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 months, now through June 30, 2017. After that, the APR for the unpaid balance and any new balance transfers will be 9.49% 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 May 1, 2017 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
  • No cash advance fee
  • Rates as low as 9.49% APR
  • Chip enabled for added security
  • Federally insured by NCUA

Credit Card Consumer Reviews:

  1. No reviews available for this card.

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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 Discover it® Miles

Discover it® Miles

  • Bonus Miles - For example, if you earn 20,000 Miles, you get 40,000 Miles. We'll match all the Miles you've earned at the end of your first year.
  • Unlimited 1.5x Miles per dollar on all purchases, every day, with no annual fee.
  • No Blackout Dates - fly any airline, stay at any hotel.
  • Redeem your rewards in any amount for cash or a travel credit.
  • Freeze your account in seconds with an on/off switch either on the mobile app or website to prevent new purchases, cash advances, and balance transfers.
  • Get your FICO(R) Credit Score for free on monthly statements, on mobile and online.
  • No Annual Fee.
  • Click "APPLY NOW" to see rates, rewards, FICO(R) Credit Score terms, Discover Match(R) details & other information.
Credit Needed:
Excellent, Good
Apply online for Chase Sapphire Preferred® Card

Chase Sapphire Preferred® Card

  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards(R)
  • Named Best Credit Card for Flexible Travel Redemption - Kiplinger's Personal Finance, July 2016
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening
  • No foreign transaction fees
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 50,000 points are worth $625 toward travel
  • No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards
Credit Needed:
Excellent/Good