PenFed Waives Amex Foreign Transaction Fees

Pentagon Federal Credit
Union (PenFed) today announced that all foreign transaction fees will be
removed from the PenFed Premium Travel Rewards American Express® Card.
The Premium Travel Rewards Card is accepted on American Express’ global
merchant network, making this offer an appealing incentive for
international travelers.
“People who frequently travel are familiar with the painful 3% and 4%
foreign transaction fees currently in the marketplace,” noted Nicole
Butler, Vice President of Card Services and Business Development,
PenFed. “Our Premium Travel Rewards Card is one of the best in the
marketplace and we have just made it even better by providing all of the
conveniences and none of the hassles. In addition, many of our members
are in the military. They frequently travel around the globe and many
are based in foreign countries. By removing the foreign transaction fee
from this product, we not only provide them with an added convenience,
but we provide them an additional opportunity to save money while away
from home.”
The Premium Travel Rewards Card earns rewards at the best rate within
PenFed’s credit card portfolio, and is one of the most rewarding
products in the marketplace today. The Card offers a combination of earn
rates across air, hotel and dining categories, with no caps or limits on
the amount of points a Cardmember can earn. Cardmembers can earn 5
points for every $1 spent on Airfare, 1 point for every $1 spent on all
other purchases. And, until December 31, 2010, Cardmembers earn 3 points
for every $1 spent on hotels and dining.
“We have a world-class travel credit card, and removing the foreign
transaction fee only provides a more compelling reason for the frequent
traveler to not leave home without the PenFed Premium Travel Rewards
Card,” stated Butler.
For more information about Pentagon Federal Credit Union and to apply
for the PenFed Premium Travel Rewards American Express Card, visit
www.penfed.org/amex or call 800-732-8268.
About Pentagon Federal Credit Union
Pentagon Federal Credit Union, established in 1935, has more than
950,000 members and assets in excess of $14.5 billion, and provides
worldwide service to Army, Air Force, Coast Guard, Department of
Defense, and Department of Homeland Security personnel; members of the
VFW; employees or volunteers of the American Red Cross; and others in
the defense community and their families.