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The Pentagon Federal Credit Union (PenFed) is doubling the reward points you can earn on everyday purchases during the first year anniversary celebration of their PenFed Premium Travel Rewards American Express® Card, now until December 31, 2010. The PenFed Premium Travel Rewards American Express Card offers exceptional earn rates, including 5x points on airfare, and, for a limited-time, 3x points on hotels and dining and double points on virtually all other purchases. There are no caps or limits on the number of points cardholders can earn, and there are no foreign transaction fees.

From now through May 28, 2010, PenFed is offering a Amex-style giveaway of highly discounted travel packages exclusively for its PenFed Premium Travel Rewards Amex cardholders.

Every Thursday, one Cardmember can purchase a destination package valued at up to $12,400 for only $500. For instance, on May 6 at 12 noon EDT, a “Culinary Adventures of Sydney” vacation package for two, valued at $10,800 is available to the first to click in for only $500. This package features a stay at the Four Seasons Sydney for 6 nights, a behind-the-scenes tour of the Sydney Fish Market and a Harbour Dinner Cruise and Seaplane Tour.

Every Tuesday, the first Cardmember to click in will be able to purchase the featured vacation package for 50% off. As an example, on May 4 at 12 noon EDT, a Maui vacation package valued at $4,700 can be purchased for $2,350.

And every single day until the end of the promotion on May 28, five “Quick Escapes” packages will be offered, allowing Cardmembers to purchase unlimited amounts of deals valued up to $3,000.

If you don’t have a PenFed Premium Travel Rewards Amex, you can apply first to participate. For more

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