Popular Credit Union Grows Credit Card Line-up

As more people look for lower rates on their credit cards, it seems that an increasing amount of credit unions are starting to see growth opportunities and are making moves to capitalize on this shift. Recently it was announced that one of the largest credit unions in the country will be able to offer its members an American Express credit card. That credit union is Pentagon Federal Credit Union otherwise known as PenFed, and this agreement allows them to be the only credit union within the U.S. to offer their members an American Express branded card.

Named the PenFed Premium Travel Rewards American Express Card, this credit card will have rewards like none other within PenFed’s card portfolio. Cardholders will have the following benefits when it comes to using their cards:
 

• Earn reward points in multiple categories (including air travel, hotel stays, and dining)
• No caps or limits on reward points earned
• Travel Accident Insurance
• Trip and Baggage Delay Insurance
• Roadside Assistance
• Car Rental Loss and Damage Insurance

With credit unions growing in popularity and slowly looking more consumer friendly than many of their big bank counterparts, it comes as no surprise when credit unions announce new products such as this one. Although this is an exclusive agreement, we should hear more offers such as this coming from more credit unions in the near future.