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PenFed Premium Travel Rewards American Express® Card Review

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What Pentagon Federal Credit Union says about this card

This card is no longer available.
  • 0% APR promo balance transfer rate for 12 months, now through December 31, 2017. After that, the APR for the unpaid balance and any new balance transfers will be 9.74% 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 October 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 9.74% APR
  • Chip enabled for added security
  • Federally insured by NCUA

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)

Top Features

Rewards Bonus Rewards Annual Fee
1-5 points/$1 20,000 bonus points when you spend $2,500 within the first 3 months of opening the card account $0

CardRatings Editor's Analysis: 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 rewards-to-dollar earning ratio, like the Barclaycard Arrival Plus® World Elite Mastercard® (See Rates and Fees)
  • PenFed Premium Travel Rewards American Express® Card compared to other travel rewards cards
    Card Name
    Rewards
    Bonus Rewards
    Annual Fee
    Ratings/Apply
    PenFed Premium Travel Rewards American Express® Card
    This card is no longer available.
    1-5 points/$1
    20,000 bonus points when you spend $2,500 within the first 3 months of opening the card account
    $0
    Earn 2 AAdvantage® miles per $1 spent on eligible American Airlines purchases. Earn 2 AAdvantage® miles for every $1 spent on purchases at telecommunications merchants, cable and satellite providers, car rental merchants and at gas stations. Earn 1 AAdvantage® mile per $1 spent on other purchases.
    Earn 65,000 American Airlines AAdvantage® bonus miles after spending $4,000 in purchases within the first 4 months of account opening.
    $99, waived for first 12 months
    Earn 2 AAdvantage® miles for every $1 spent at gas stations and restaurants. Earn 2 AAdvantage® miles for every $1 spent on eligible American Airlines purchases
    Earn 50,000 American Airlines AAdvantage® bonus miles after $2,500 in purchases within the first 3 months of account opening
    $99, waived for first 12 months
    3X points on travel immediately after earning your $300 travel credit. 3X points on dining at restaurants & 1 point per $1 spent on all other purchases. $0 foreign transaction fees.
    Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
    $550
    Earn 2 AAdvantage® miles for each $1 spent at grocery stores, including grocery delivery services. Earn 2 AAdvantage® miles for every $1 spent on eligible American Airlines purchases. Earn 1 AAdvantage® mile for every $1 spent on other purchases
    Earn 10,000 American Airlines AAdvantage® bonus miles and receive a $50 statement credit after making $500 in purchases within the first 3 months of account opening.
    $0
    The card is best for eligible members at the Pentagon Federal Credit Union who travel a great deal.

Credit Card Consumer Reviews:

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