Most no-annual-fee credit cards don’t offer much when it comes to additional perks of having the card, but the PenFed Pathfinder Rewards American Express is a great exception to the rule.
In order to get this card, you’ll have to be a member of PenFed Credit Union, which is free to employees and household members of many military, government, and defense organizations. But, anyone can join by becoming a member of a military support organization with a one-time $17 fee.
Points: The PenFed Pathfinder Rewards American Express offers 4 points per dollar spent on travel purchases for PedFed Honors Advantage members, or 3 points per dollar spent on travel for non-members.
In order to be a PenFed Honors Advantage member you'll have to open a free PenFed Access America Checking Account or have a military service background (active duty, reserve, honorably discharged, retired). All other purchases earn 1.5 points per dollar spent. Rewards can be redeemed for gift cards, travel, and merchandise.
Perks: The PenFed Pathfinder Rewards really stands out when it comes to additional perks. When you open your account, the APR for purchases and cash advances is based on your creditworthiness and varies with the prime rate, though it's typically lower than many other no-annual-fee cards out there. This card does offer a 12-month introductory 0% APR for balance transfers, which jumps after that first year.
This card also offers a $100 annual air travel credit that can go toward covering baggage fees, lounge access, or onboard food and beverages. And you’ll get a $100 Global Entry or $85 TSA PreCheck application fee credit when you pay for the application with your card. Also, this card also doesn’t charge foreign transaction fees, so it’s a great option if you plan to travel abroad