It seems like Pentagon Federal is taking advantage of its relationship with American Express to offer the types of deals you typically don’t see with other credit unions. Credit union credit cards are typically known for no-frills, low fees, and basic rewards programs. Since they don’t view their cards as profit centers like the bigger banks, they don’t generally waste their time coming up with splashy promotional marketing campaigns.
Well, I guess when you’ve gotten in bed with the elite, all that changes. From April 30th – May 28th, PenFed and Amex are teaming up to offer a program they’re calling Amazing Escapes, where they’re offering crazy travel deals to promote the PenFed Premium Travel Rewards American Express card.
This card is already a traveler’s dream, since you earn 5x points on airfare, 3x points on hotels and dining through 12/31/10, and 1x points on everything else. On top of that, if you spend $650 in the first three months, they’ll throw another 20,000 points your way. Their catalog offers plenty of redemption options where a point is worth one cent, so that means you’re earning 5%, 3%, and 1%, then an extra $200. Plus they recently dropped their foreign transaction fee when traveling abroad. So if you travel a lot, you can really save some dough.
With Amazing Escapes, they’re taking it a couple steps further. For the next month, they are offering crazy travel deals twice a week to cardholders. This is what the website describes:
- Every Thursday for four weeks, one cardholder will have the chance to buy a vacation package valued at up to $12,400 for the low-low price of $500. These vacations include a culinary adventure in Sydney, and a South African safari. Not too shabby.
- And every Tuesday for four weeks, one cardholder will have the chance to buy a vacation package valued at up to $4,700 for 50% off. Unfortunately their site isn’t working 100%, so we can’t ogle the different packages they have lined up.
- And every day for the next four weeks, they will also offer five cardholders the opportunity to buy “terrific travel deals valued at up to $3,000.” This last one isn’t too specific, but I’m assuming there are discounts involved, because otherwise I’m pretty sure I can buy a $3,000 travel package all by myself.
This is just another reason why we like PenFed so much. While other card issuers and banks are doing their damnedest to raise fees and cut rewards, PenFed keeps managing to do the exact opposite. And this latest marketing campaign feels like a balls-out attempt to kick other issuers while their down and eat up some market share. In fact, it feels a lot like American Express in the halcyon days of 2004-2007.
Want one for yourself?
