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PenFed is Sweetening the Travel Rewards Pot With “Amazing Escapes”

April 24, 2010
Credit Cards, Rewards Credit Cards
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  • PenFed Premium Travel Rewards American Express® Card

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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, you’ll get a decent sign-up bonus: Earn 20,000 Bonus Points when you spend $2,500 in the first 3 months of opening your account. 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.