I am a member of Penfed CU. I applied for their AMEX and I mostly use it for booking air, hotels & restaurants. I get 5X points booking air and for this year, 3X points booking hotel & restaurants. 1 pt for everything else. I mostly buy airline tickets using this card.

I got a 20K signup bonus for spending $650 in first 3(?) months. One can book air tickets (they are revenue tickets so they earn FF miles ) and get gifts, etc.

I am mostly interested in their airline tickets. Penfed (Pentagon Federal CU) is quite conversative in their lending but I like them alot. One way to qualify in addition to the usual qualifications is to pay $20 to join the military assocation.

Bottom line: I added them to my collection of Citi, Chase & AMEX cards with fat signup bonuses. Drawback is they have their own program unlike AMEX Starwood & Membership rewards that can transfer to other airline programs.