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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
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
1.5 pts/$1
Bonus Miles or Points
20,000 bonus points
when you spend $2,500 within the first 3 months of opening the Card account
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.
20,000 online bonus points if you make at least $1,000 in purchases in the first 90 days - that can be a $200 statement credit toward travel purchases
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.
N/A 
15.24% - 23.24% Variable APR on purchases and balance transfers 
Annual Fee
$0
Introductory annual fee of $0 for the first year, then $195.
$0
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 April 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
  • 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 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
Apply online for BankAmericard Travel Rewards® Credit Card

BankAmericard Travel Rewards® Credit Card

  • Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees and your points don't expire
  • 20,000 online bonus points if you make at least $1,000 in purchases in the first 90 days - that can be a $200 statement credit toward travel purchases
  • Use your card to book your trip how and where you want - you're not limited to specific websites with blackout dates or restrictions
  • Redeem points for a statement credit to pay for flights, hotels, vacation packages, cruises, rental cars, or baggage fees
  • Now with chip technology for enhanced security and protection at chip-enabled terminals
  • 0% Introductory APR for 12 billing cycles for purchases, then 15.24% - 23.24% Variable APR
  • Get an additional 10% customer points bonus on every purchase when you have an active Bank of America(R) checking or savings account
  • If you're a Preferred Rewards client, you can increase that bonus to 25% or more. Click "Apply Now" to learn more about Preferred Rewards.
Credit Needed:
Excellent/Good