PenFed Pathfinder review: Premium travel rewards, no annual fee

Review Summary: The PenFed Pathfinder Rewards American Express Card strikes a unique balance between offering premium rewards and benefits while having no annual fee. It also has a sign-up bonus and promotional financing offer — and PenFed Credit Union has been a favorite of money expert Clark Howard for years. Just note that you have to join the PenFed Credit Union when you apply, although no military service is required.

How the PenFed Pathfinder Rewards American Express works 

To apply for this card, you need to first join the Pentagon Federal Credit Union, which you can do during the application process. Many Americans can qualify based on their current or prior military service, civilian employment in a defense-related company or the eligibility of a family or household member. And even if you don’t qualify based on this, you can qualify by joining a military support organization for a small, one-time fee.

Once you have the card, you have the opportunity to earn 4x bonus points on your travel and commuter expenses if you’re a PenFed Honors Advantage Member. To qualify, you need to have a free checking account with PenFed or the primary applicant must be active duty, reserve, honorably discharged or retired U.S. military.

You’ll also receive a $100 annual air travel credit and a $100 credit toward the Global Entry or TSA PreCheck application fee every four years. There’s no annual fee for this card and no foreign transaction fees.

Pros

Cons

• 3x points on all travel and commuter expenses, 4x for PenFed Honors Advantage Members (holders of a free checking account)
• 1.5 points per dollar on all other purchases
• 25,000 bonus points after new cardholders spend $2,500 within three months of account opening
• $100 annual air travel credit
• $100 credit toward Global Entry or TSA PreCheck application fee
• 12 months of 0% APR financing on balance transfers
• No annual fee and no foreign transaction fees

• Value of points varies unpredictably
• You must first join the PenFed Credit Union (no military service required)

Quick links 

How to earn rewards 

With this card, you earn at least 3x points on all travel and commuter expenses. This includes not just airfare, hotels and rental cars, but also commuter transportation like buses, subways, railroads, shared ride services and even tolls. And while nearly all credit cards that offer bonuses only give you one point per dollar elsewhere, this card features 1.5x points per dollar spent on non-travel purchases.