US-based PenFed Credit Union and American Express have introduced the new PenFed Pathfinder Rewards American Express Card with travel and reward benefits.
The card will allow cardholders to earn points on travel and everyday expenses without any caps, limits or annual fee.
Cardholders will get 3x points on travel purchases and 4x in case of a PenFed Access America checking account or military personnel, while 1.5x points are added for any other purchases, PenFed Credit Union said.
The card offers other benefits such as annual travel fund and insurances, in addition to waiver of foreign transaction fees.
PenFed Credit Union executive vice-president and president of payment systems Kevyn Myers said: “The PenFed Pathfinder American Express Card sets a new standard for rewards cards by providing the most opportunities for Cardholders to earn the most points on life’s everyday travel and purchases, all with no annual fee.
“This card provides market-leading value to cardholders – more points on more purchases and the freedom to redeem those points for anything they want.”