PenFed Premium Travel Rewards American Express® Card
Reward Rate
1.00%
Annual Fee
$0 the first year, then $50
Signing Promo
20,000 PenFed Points Bonus after spending $650 - in the first 3 months.
Disclaimer: This content is not provided or commissioned by American Express. Opinions expressed here are author's alone, not those of American Express, and have not been reviewed, approved or otherwise endorsed by American Express. This site may be compensated through American Express Affiliate Program.
APR, variable
Intro APR Promotions
Reward Summary
- Earn 1 point per $1 spent on purchases
- 5 points per $1 on airfare, 1 point per $1 elsewhere
- 3x points on dining and hotels thru Dec 31, 2010
- Anyone can join the credit union by donating $20 to NMFA or volunteering for the Red Cross
NerdWallet Credit Card Review: Premium Travel Rewards from PenFed
This card is a traveler’s dream, since it pays 5 points per $1 spent on airfare, 3 points on hotels and dining through 12/31/10, and 1 point per $1 on everything else. On top of that, you can earn 20,000 bonus points for spending $650 in the first three months. The PenFed 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. They also offer redemption options for most major airlines, so you can earn free flights without being restricted to frequent flyer programs.
The only issue, as with all PenFed cards, is that you have to join the Pentagon Federal Credit Union, or donate $20 to the NMFA.
Rewards Type: PenFed Points
Card Details
- 5 Points for Every $1 Spent on Airfare!
- 3 Points on Hotels and Dining (through December 31, 2010)
- No Balance Transfer Fees – Good till April 30, 2010
- Automatic enrollment in PenFed Premium Rewards Program
- Access to 600+ Luxury VIP Global Airport Lounge Access with $15,000 Annual Spend
- 24/7 Premium Concierge Service
- Exclusive Travel Upgrades and Offers
- Redeem on any Airline; no black-out dates or restrictions
- Spend $650 in the First Three Months and Receive 20,000 bonus points
- No Foreign Transaction Fees!
- You must be a Pentagon Federal Credit Union member to apply.Not a member? Anyone can join the credit union by donating $20 to NMFA or volunteering for the Red Cross.
Finance Charge Calculator
Use the sliders to the left to calculate balance transfer interest and APR interest for this particular card.
*Effective Annual Rate for Balance Transfers of 6.4% includes transfer fees and APR promotions. See our breakdown of EARs vs APRs.
Finance Charge, Balance Transfer of $10,000*
*Effective Annual Rate for Balance Transfers of 6.4% includes transfer fees and APR promotions. See our breakdown of EARs vs APRs.
Effective Annual Rate, Purchases
APR Rankings
APR
13.24%
ranks #248 out of 459 cards.
Average is 13.26%.
Average is 13.26%.
Balance Transfer Fee
2.5%
ranks #37 out of 418 cards.
Average is 3.26%.
Average is 3.26%.
Cash Advance APR
13.24%
ranks #12 out of 445 cards.
Average is 22.36%.
Average is 22.36%.
Rewards Rankings
Annual Fee
$50
ranks #406 out of 493 cards.
Average is $24.
Average is $24.
Base Reward Rate
1%
ranks #40 out of 383 cards.
Average is 0.98%.
Average is 0.98%.
Effective Reward Rate
1.19%
ranks #71 out of 383 cards.
Average is 1.06%.
Average is 1.06%.
Sign-up Bonus
$200
ranks #26 out of 475 cards.
Average is $84.
Average is $84.