Penfed Premium Travel Rewards Amex Credit Card $200 Bonus

One change that PenFed made since I reviewed this in 2009 is to eliminate the annual fee.

link to PenFed's page

Summary of credit card and bonus:

* 20,000 bonus points upon spending $650 in the first 3 months
* No annual fee
* 5x points on airfare purchases and 1x points on all other purchases

Flexo at Consumerism Commentary has a new review of this travel rewards card and bonus.