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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

Rewards
1-5 points/$1
Bonus Rewards
20,000 bonus points when you spend $2,500 within the first 3 months of opening the card account
Purchase APR
9.74% 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 October 02, 2017

This card compared to other travel rewards cards

Rewards
1-5 points/$1
2X points on travel and dining at restaurants & 1 point per dollar spent on all other purchases worldwide
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 Rewards
20,000 bonus points when you spend $2,500 within the first 3 months of opening the card account
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)
25,000 Membership Rewards® Points after you use your new Card to make $2,000 in purchases within the first 3 months.
Purchase APR
9.74% to 17.99% when you open your account, based on your creditworthiness.* Your APR will vary with the market based on the Prime Rate.
16.99% - 23.99% Variable 
N/A 
Annual Fee
$0
$0 Intro for the First Year. Then $95
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
9.74% 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

What Pentagon Federal Credit Union says about this card

  • 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

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Highlighted 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
FIND THE
BEST CARD
FOR YOU
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Excellent
(720-850)
Good
(690-719)
Fair
(630-689)
Bad
(350-629)
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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®
  • 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
Apply online for Premier Rewards Gold Card from American Express

Premier Rewards Gold Card from American Express

  • Earn 25,000 Membership Rewards® Points after you use your new Card to make $2,000 in purchases within the first 3 months.
  • 3X points for flights booked directly with airlines. 2X points at US restaurants, US gas stations, and at US supermarkets. 1X points on other purchases.
  • No Foreign Transaction Fees.
  • $100 Airline Fee Credit. Up to $100 a calendar year for baggage fees at one airline.
  • Get a $75 hotel credit on qualifying charges, plus a room upgrade upon arrival, when available with The Hotel Collection at americanexpress.com/hc.
  • $0 Intro Annual Fee for the 1st year, then $195.
  • Expanding merchant acceptance: Over 1 million more places in the U.S. started accepting American Express® Cards in the last year.
  • Terms Apply.
Terms and Limitations Apply
Credit Needed:
Excellent, Good