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About Our Ratings

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.

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
Regular 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. N/A
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 November 12, 2018

This card compared to other travel rewards cards

Card Name
PenFed Premium Travel Rewards American Express® Card
Rewards
1-5 points/$1
5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel. 5X Membership Rewards points on prepaid hotels booked on amextravel.com.
2X points on travel and dining at restaurants & 1 point per dollar spent on all other purchases worldwide
Bonus Rewards
20,000 bonus points when you spend $2,500 within the first 3 months of opening the card account
Earn 60,000 Membership Rewards® after you use your new Card to make $5,000 in purchases in your first 3 months.
Earn 60,000 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®
Regular 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. N/A
N/A 
18.24% - 25.24% Variable 
Annual Fee
$0
$550
$95
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:
APR:
12 months
Balance Transfer Fee:
3% per transaction
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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