If you opened your wallet right now, what would and should you find? Starting out with the most important of things, most Americans carry identification (usually in the form of a drivers license). Moving down the list, you’ll find a variety of other identification cards, pictures of family and friends and cash. Finally, the heaviest part of any wallet is probably made up of credit cards. One credit card for gas purchases, another for groceries and a travel credit card. Before you know it, you’ve got a few ounces of plastic in your wallet. If you travel, then allow me to introduce you to the PenFed Premium Travel Rewards American Express® Card, a card you should consider adding.
PenFed Travel Rewards American Express Card Review
The best credit card you’ve probably never heard, the PenFed Premium Travel Rewards American Express® Card is offering new cardholders a 20,000 point bonus, simply for signing up and making at least $650 within the first three months of card ownership. That equates to a sign up bonus worth approximately $200 toward airfare or other awards. In addition to the bonus points offer, PenFed cardholders can earn 5 points per dollar spent on airfare, and 1 additional points for other purchases.
Points can be redeemed for airfare, retail items or gift cards and generally work in the 1 point = 1 penny system. There are a few exceptions, depending on how high up the travel ladder your looking to go but I have yet to find a negative comment left online about the PenFed rewards program.
Additional benefits: Complimentary concierge service, Exceptional travel offers and discounts, and free LOUNGE CLUB(TM) membership which provides worldwide airport lounge access with $15,000 in annual spending.
Also excellent for balance transfers. Included with the PenFed Premium Travel Rewards American Express® Card is a balance transfer offer that rivals even the best balance transfer credit cards. This card offers a balance transfer APR of 4.99% for the life of the balance. You won’t find many lower balance transfer offers anywhere (or a longer balance transfer intro period). Depending on just how much you need to transfer, PenFed may be your best bet.
There is no annual fee for this card, however, you must be a member of the PenFed credit union to be approved for this card. That said, it is very easy to become a member, and may be worth it due to the benefits of this card and other PedFed programs. To become a member, you will need to have an affiliation with the US Military (directly or through immediate family), be an employee of the Red Cross, be a member of one of their other non-profit organizations, OR make a small $20 donation to the PenFed foundation.
If you find yourself in need of a new travel rewards credit card and make frequent purchases with it, you won’t find a card more rewarding than the PenFed Travel Rewards American Express® Card.
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.