Pentagon Federal Credit Union (PenFed) and American Express have entered into a strategic new partnership under which PenFed will issue American Express-branded credit cards. The PenFed Premium Travel Rewards American Express Card will carry the American Express logo and will be accepted on American Express’ global merchant network.
PenFed said that the PenFed Premium Travel Rewards American Express card earns rewards at the rate within its card portfolio, offering a combination of earn rates across air, hotel and dining categories, with no caps or limits on the amount of rewards a card member can earn.
Moreover, rewards can be redeemed for airline travel with no restrictions, hotel stays, car rental, travel adventures and experiences, designer merchandise and gift cards with major retailers. In addition, card members will have access to a personal shopper who will help locate hard-to-find items that can then be purchased with rewards points.
Additionally, PenFed and American Express have an exclusive arrangement under which, for a limited time, PenFed will be the only credit union to issue an American Express-branded card in the US. PenFed will be responsible for all elements involved in issuing the PenFed Premium Travel Rewards American Express Card, including customer service and marketing strategy.
Nicole Butler, vice president of card services and business development at PenFed, said: “By combining the trust and integrity that members expect from PenFed with the strength and global recognition of the American Express brand, we believe this product is one of the best cards in the marketplace and will not only appeal to our existing members, but to a new group of customers as well.”
Janey Whiteside, vice president and group general manager of global network services at American Express, said: “The new PenFed Premium Travel Rewards American Express Card is one of the strongest rewards products in the marketplace and is supported by a truly outstanding range of benefits and services, as well as the world-renowned American Express brand.”
