TrendingWhat Is A Navy Federal Cash Rewards Card

What Is A Navy Federal Cash Rewards Card

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Navy Federal Cashrewards Credit Card* Vs Citi Double Cash Card

Navy Federal Cash Rewards Card – Best Beginner Credit Card?

The Citi® Double Cash Card earns an unlimited 2% cash back on all purchases1% when purchases are made and another 1% when theyre paid off. Dont let that seemingly small difference fool youthe 0.25% advantage over the cashRewards can significantly add up over the course of the year. However, the Navy Federal cashRewards Credit Card* may be the better option for those with average credit.

The Citi Double Cash also comes with an intro APR offer: 0% intro APR on balance transfers for 18 months. After that, the standard variable APR will be 13.99% – 23.99%, based on creditworthiness. There is also an intro balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater, completed within the first 4 months of account opening. After that, the fee will be 5% of each transfer . This contrasts sharply with the introductory APR offered by the cashRewards card. Where the cashRewards card has the edge is in the card extras: the cell phone protection, auto rental collision damage waiver and lack of foreign transaction fees arent matched by the Double Cash.

Best For Low Interest: Nfcu Platinum Credit Card

Heres why: This card offers the potential for the lowest ongoing potential variable on purchases and balance transfers out of all the Navy Federal Credit Union cards. If could be a good option for those who may carry a balance from month to month.

The Navy Federal Credit Union Platinum credit card offers a low variable APR between 5.99% and 18% on purchases and balance transfers. Your rate within that range is based on your credit profile. So its important to consider that youll only score the best rate if you have a good credit history. If you do get a low APR, this card can be a great way to minimize extra charges if youre paying off your balance over time. And even better? Theres no annual fee.

How We Picked These Cards

We chose these Navy Federal Credit Union credit cards by looking at the overall perks compared to the costs for the consumer. None of our picks has an annual fee, so cardholders arent paying any price to access these rewards.

We also tried to pick cards in categories that would be relevant to current and potential Navy Federal Credit Union members, including active-duty military personnel and their families.

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Special Cashrewards Visa Signature Card Bonuses

New cardholders can earn a special introductory bonus of $250 by spending $2,500 within 90 days of their account approval. This generous one-time incentive stands out in particular since cash back is accrued at a rate of 1.5% for each dollar spent when using this Navy Federal Credit Union card, or the equivalent of 1.5 cents in cash back. In order to match the $250 bonus here, a cardholder would need to spend close to $16,700 outside of this introductory period.

Capital One Quicksilver Cash Rewards Card

Navy Federal Credit Union cashRewards Review: Cash Back ...

The also offers unlimited 1.5% cash back on purchases. There’s no annual fee and the introductory welcome bonus terms are similar to what’s offered with the Navy Federal cashRewards Credit Card.

You can redeem cash rewards at any time, in any amount, including using them to shop at Amazon.com. You can easily redeem cash back for cash, statement credit or gift cards.

This card has no foreign transaction fee.

Like the Navy Federal cashRewards Credit Card, it’s a very basic cash rewards option. But you might appreciate being able to use your rewards to shop Amazon if you routinely buy things online.

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Earn $250 Bonus Cash Back

Start earning 1.75% cash back on your purchases when you get a cashRewards card and enroll in direct deposit. Without direct deposit, youll still earn 1.5% cash back.2

Plus, get $250 bonus cash back when you spend $2,500 within 90 days of account opening.3

Expires on Jan. 03, 2022

  • Up to 1.75% cash back on all purchases2
  • Start redeeming rewards as soon as you earn them

As of 11/17/2021, rates range from 9.65% APR to 18.00% APR, are based on creditworthiness, and will vary with the market based on the U.S. Prime Rate. ATM cash advance fees: None, if performed at a Navy Federal branch or ATM. Otherwise, $0.50 per domestic transaction or $1.00 per foreign transaction.

It Earns 15% Cash Back

The card offers a solid, straightforward rewards rate: 1.5% back on everything you purchase, which has become the industry standard for cards in this class. It comes with 0% intro APR on purchases for 6 months, and then the ongoing APR of 9.65% – 18.00%, Variable.

It’s hard to find a card for average credit with a similar rewards rate and no annual fee. The Capital One QuicksilverOne Cash Rewards Credit Card, for example also for average credit offers 1.5% cash back on every purchase but comes with an annual fee of $39. If you really want to earn rewards but are willing to wait a year, then you might also want to consider the Petal® 2 “Cash Back, No Fees” Visa® Credit Card, which offers 1.5% cash back after 12 months of on-time monthly payments and an annual fee of $0.

The Alliant Visa® Platinum Rewards Credit Card, another credit union credit card for those with average credit, is even better: It offers 2 points per dollar spent on all purchases for an annual fee of $0. Points are worth 1 cent apiece, essentially making it a 2% cash back card. But to apply, you have to be a member of Alliant Credit Union.

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Navy Federal Credit Union Cashrewards Credit Card

  • Sign-up Bonus: Earn $250 bonus cash when you spent at least $3,000 in eligible purchases in the first 90 days
  • Rewards: 1.5% cash back on all purchases
  • Fees: No balance transfer or foreign transaction fees
  • Annual Fee: None

Navy Federal Credit Union cashRewards Credit Card is a cash back credit card with no annual fee and a relatively low APR. It earns unlimited 1.5% cash back on all purchases, just like popular competitors such as Chase Freedom Unlimited and Capital One Quicksilver Cash Rewards Credit Card.

Unfortunately, unlike those competing cards, Navy Federal Credit Union cashRewards Credit Card isnt available to the general public. To qualify, you need to be an active duty, honorably discharged, or retired member of the United States Armed Forces a civilian Department of Defense employee or an immediate family relation of a member of those two groups. If you havent joined the military and arent sure about doing so in the future, you need to look for another cash back credit card.

If you do qualify for NFCU cashRewards Credit Card, youre in for a treat. In addition to a solid cash back rewards program, this card has a nice sign-up bonus and low fees. It also has a surprisingly robust lineup of fringe benefits, especially for cardholders who qualify for the Visa Signature version.

Lets take a closer look at what to expect from your NFCU cashRewards Credit Card.

How To Maximize Your Rewards

NAVY FEDERAL CREDIT UNION CREDIT CARDS | CASH REWARDS REVIEW (2020)

Make sure to use the card whenever you can, but especially when you will earn bonus rewards.

Also, check the credit unions Member Deals platform regularly to see if you can take advantage of extra rewards on purchases youre planning to make.

Of course, make sure to keep your spending in check to avoid credit card interest, which can offset the value you gain with rewards. In an ideal scenario, youd be able to pay off your balance in full every month to avoid interest charges.

When it comes to redeeming your rewards, check the redemption rate to make sure youre getting the most value possible, which is 1 cent per point. Try to avoid redemptions that give you less than that amount.

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Navy Federal Cashrewards Credit Card* Vs Capital One Quicksilverone Cash Rewards Credit Card

The Capital One Quicksilver One is a flat-rate cash-back card also aimed at those with average credit that earns unlimited 1.5% cash back on every purchase. With an earn rate that is 0.255 lower than the cashRewards card, the Capital One Quicksilver One may not seem like a better option, however it doesnt require credit union membership to apply. The Quicksilver One also carries an annual fee of $39, where the cashRewards has none. And for those who carry a balance, the QuicksilverOne also comes with a much higher APR than the cashRewards, a whopping 26.99% .

The lower earn rate, annual fee and the higher APR compared to the cashRewards likely make the QuicksilverOne a less appealing choice for most.

How To Get The Most Out Of This Card

Obviously, youll get the most value from your rewards if you pay your credit card bill in full each month and avoid interest payments altogether. If you already have balances with other cards you could save by taking advantage of the 1.99% APR for 12 months on balance transfers and no balance transfer fees. You should also spend $2,000 in the first 90 days to get the bonus, if you can afford it.

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Navy Federal Cashrewards Vs Citi Double Cash: Which Is Better

When it comes to cash back credit cards, Team Clark likes to compare them to the Citi® Double Cash card.

Thats because money expert Clark Howard has deemed the Double Cash to be worthy of his wallet thanks to its straightforward cash back offer on all purchases: as much as 2% .

Recently, Clark also endorsed Navy Federals cashRewards card because of the perks it offers as well as the potential for a low fixed APR on purchases.

Heres how the two cards stack up against each other:

Card Characteristic
None3% of purchase

Based on this information, it appears the cashRewards card could serve you well. Citi does offer an additional 0.5% cash back on everyday purchases compared to the standard 1.5% for the cashRewards.

Clark does not recommend carrying balances on rewards credit cards with lousy standard APRs, so he recommends picking the Citi card only if you plan to pay the bill in full each month.

Navy Federal Upgrades Cashrewards Credit Card Allowing Members To Earn Up To 175% Cash Back On Their Everyday Purchases

The Best Navy Federal Credit Card

New cardholders will be greeted with $250 bonus cash back after $2,500 spend

VIENNA, Va.—-Navy Federal Credit Union today announced an upgrade to its cashRewardscredit card, giving new and existing cardholders more cash back on every purchase. The credit card will now offer unlimited 1.75% cash back on every purchase for cardholders who maintain direct deposit at Navy Federal. Additionally, new cardholders who spend $2,500 within 90 days of opening an account will receive $250 bonus cash back.

When it comes to ease and flexibility of use, nothing beats the simplicity of the cashRewards card, said Justin Zeidman, head of credit card products at Navy Federal. With this upgrade, we give members the opportunity to earn even more cash back on all their purchases and further demonstrate the value that comes from making Navy Federal their trusted financial partner.

The enhanced earn rate is applied automatically for cardholders with direct deposit, and members will earn cash back at a rate of 1.75% for as long as they maintain their direct deposit at Navy Federal. Otherwise, cardholders will continue to earn the previously offered unlimited 1.5% cash back. New and current cardholders without direct deposit can qualify for the 1.75% earn rate by simply moving their direct deposit to Navy Federal. Additional features and benefits of the cashRewards card include:

  • Variable APR between 9.65% – 18.00%
  • Free credit score access

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Best For No Or Limited Credit: Nfcu Nrewards Secured Credit Card

Heres why: We like this secured card option for the ways it can help cardholders establish or rebuild their credit, all while taking advantage of a few rewards offers.

If you dont have a robust credit profile, or youre trying to rebuild your credit, your options for credit cards can be limited. A secured option can help in this scenario, because its backed by collateral in the form of a cash deposit. This deposit can reduce risk for credit card companies and increase your chances of approval.

The Navy Federal Credit Union nRewards® Secured credit card is a great option, as its a secured card that also offers one rewards point for every $1 spent points that can be converted into cash back, gift cards or merchandise.

Before applying, cardholders deposit a minimum of $200 into a savings account, which earns interest while serving as the collateral to secure your card. This deposit will determine your credit limit.

What sets this card apart is a regular review process, starting after six months of activity, that could result in the return of your deposit and a transition to an unsecured credit card. Theres also no annual fee.

If youd prefer an unsecured card from the start, read our article on the best unsecured credit cards for building credit.

Extras Perks And Using Points

This card comes with Visa Signature or World Mastercard perks, which could include cellphone protection, auto and travel insurance protection and/or discounts and upgrades at select rental car agencies, hotels and cruises depending on your credit card network.

Points never expire and can be redeemed at any time in any amount, but cant be used in conjunction with cash for partial reward redemptions . To use your rewards, log in to your account online and select Rewards. You can use your rewards to book travel through the Navy Federal site, to buy select merchandise and gift cards, or as a statement credit against your card or a deposit to your bank account.

The information about the Navy Federal Credit Union cashRewards Card has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.

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You Can Choose Between A Visa Or Mastercard Version

In most cases, when you apply for a credit card, you’re choosing the issuing bank and a specific card offered by that bank but the payment network typically isn’t a choice.

The Navy Federal Credit Union® cashRewards Credit Card is a little different, as it lets you pick either a Visa or a Mastercard version during the application process.

Best For Everyday Spending: Nfcu More Rewards American Express Card

navy federal cash rewards 1.5% cash back credit card (unboxing review)

Heres why: This rewards card offers points for all your purchases and even more for purchases at supermarkets, gas stations and restaurants.

The Navy Federal Credit Union More Rewards American Express® Card is a good option for those who want to earn rewards every time they spend. It offers three points per $1 at supermarkets, gas stations, at restaurants, and on transit, plus one point per $1 for all other purchases.

There are also no rewards limits, so you can score points with every purchase and redeem your points for travel, cash back, gift cards and more without the worry of losing them.

The card stays true to its name, too, with more rewards via a welcome bonus. For a limited time, new cardholders can earn 25,000 points, which is valued at $250, when they spend $3,000 on eligible purchases within 90 days of opening a new card account. The card also has no annual fee.

For other rewards options, check out our picks for the best credit union credit cards.

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Should You Apply For The Navy Federal Cashrewards Visa Signature Credit Card

The Navy Federal cashRewards World Mastercard® is a prime example of a credit card that is great for credit beginners who want to earn cash back while building their credit profile. This card is the Visa version of the Navy Federal cashRewards World Mastercard®. There are, of course, comparable cash back rewards cards that offer a higher reward value the Randolph-Brooks Cashback Rewards Mastercard®, for example, offers 2% cash back on all purchases with many of the same features but not all are designed specifically with U.S. Armed Forces members and their families in mind. Cardholders will save beaucoup bucks thanks to the elimination of fees theres no annual fee, no balance transfer fee, no cash advance fee. And for those serving overseas, there are no foreign transaction fees, which is particularly useful for cardholders who are stationed abroad.

The introductory cash back bonus of $250 is particularly generous, considering it can be earned by spending $2,500 in the first three months of account approval. Typically, cash back rewards are earned at a rate of 1.5%, which means each cardholder would need to spend a substantially larger amount in order to earn $250 in rewards outside of this introductory period.

Best For Cash Back: Nfcu Cashrewards Credit Card

Heres why: This card offers 1.5% cash back on all eligible purchases, with no annual fee.

This card has a competitive rate of 1.5% cash back, which you can redeem for cash, merchandise or gift cards, with no rewards limits.

For a limited time, new cardholders can also earn a $150 bonus cash back after spending $2,000 on eligible purchases within 90 days of opening an account.

For more info on this category, take a look at our guide to cash back cards.

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Earning Points & Rewards

This cards rewards scheme is simple enough for anyone to understand and keep track of. Once you sign up, youll earn a flat 1.5% back on everything you buy. The rewards you earn are unlimited and theyll never expire as long as your account is open and in good standing.

You can also earn up to 15% in cash back when using your card with the Navy Federal Member Deals site, an online shopping portal.

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