Navy Federal Credit Union cashRewards Credit Card Review Skip to content
What do you want to do br with money
Popular Searches
Learn more about your money
Make Money
You need it. Learn how to make it. Explore Manage Money
You've got it. Learn what to do with it. Explore Save Money
You have it. Make sure you have some later too. Explore Spend Money
You're spending it. Get the most for it. Explore Borrow Money
You're borrowing it. Do it wisely. Explore Protect Money
You don't want to lose it. Learn how to keep it safe. Explore Invest Money
You're saving it. Now put it to work for your future. Explore Categories
About us
Find us
Close menu What do you want to do br with money
Popular Searches
Learn more about your money
Make Money
You need it. Learn how to make it. Explore Manage Money
You've got it. Learn what to do with it. Explore Save Money
You have it. Make sure you have some later too. Explore Spend Money
You're spending it. Get the most for it. Explore Borrow Money
You're borrowing it. Do it wisely. Explore Protect Money
You don't want to lose it. Learn how to keep it safe. Explore Invest Money
You're saving it. Now put it to work for your future. Explore Categories
About us
Find us
Close menu Advertiser Disclosure Advertiser Disclosure: The credit card and banking offers that appear on this site are from credit card companies and banks from which MoneyCrashers.com receives compensation. This compensation may impact how and where products appear on this site, including, for example, the order in which they appear on category pages. MoneyCrashers.com does not include all banks, credit card companies or all available credit card offers, although best efforts are made to include a comprehensive list of offers regardless of compensation. Advertiser partners include American Express, Chase, U.S. Bank, and Barclaycard, among others. Credit Cards Navy Federal Credit Union cashRewards Credit Card Review
By Brian Martucci Date September 14, 2021 FEATURED PROMOTION
Our rating
4 2 5
Apply Now 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 Credit Needed: Good to excellent 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 isn’t 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 (such as a spouse or child) of a member of those two groups. If you haven’t joined the military and aren’t 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, you’re 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. Let’s take a closer look at what to expect from your NFCU cashRewards Credit Card. Key Features
Sign-up Bonus
When you spend at least $3,000 in qualifying purchases within the first 90 days your account is open, you get $250 bonus cash. Earning Cash Back Rewards
Navy Federal Credit Union cashRewards Credit Card earns unlimited 1.5% cash back on all purchases. There are no caps or restrictions on how much you can earn, and cash back never expires. Redeeming Cash Back Rewards
You can redeem your accumulated cash back in any amount for deposits to your Navy Federal Credit Union checking, savings, or money market account, or for statement credits against your account balance. Important Fees
This card has no annual fee, foreign transaction fee, or balance transfer fee. Introductory APR
Enjoy 0% APR on eligible purchases for 6 months from account opening. Thereafter, variable regular APR applies. There’s no corresponding balance transfer promotion. Visa Signature Benefits
If you have very good or excellent credit and adequate income, you may qualify for a Visa Signature card. Visa Signature products carry credit limits of $5,000 or higher along with an attractive lineup of fringe benefits, including automatic fraud monitoring with real-time notifications and complimentary loss and damage coverage on rental cars charged in full to your card. Member Deals
Earn up to 15% cash back on purchases in-store or online with select retail partners, including Apple, Home Depot, and Macy’s. Credit Required
This card requires good to excellent credit. Any noteworthy blemishes in your credit history are likely to harm your chances of qualifying. Advantages
No Annual Fee. NFCU cashRewards Credit Card has no annual fee. If you’re a frugal cardholder who doesn’t spend heavily enough to justify a recurring charge, this is great news.Nice Sign-up Bonus. When you spend at least $3,000 in eligible net purchases within the first 90 days your account is open, you get $250 cash back. That’s one of the cash back category’s easiest-to-attain sign-up bonuses, and definitely swingable even for frugal cardholders.Virtually No Additional Fees. This card has very few additional fees. You’re not charged for balance transfers, which makes the introductory balance transfer APR an even better deal than it appears. You’re also not charged for using your card overseas, nor for cash advances at NFCU ATMs or branches. If you pay your bill on time and avoid making cash withdrawals at non-NFCU ATMs, you’ll never pay a dime to keep this card around.Attractive Cash Back Rewards Rate. This card earns unlimited 1.5% cash back on all purchases with no caps or restrictions. Say goodbye to worries about rotating categories (a la Chase Freedom and Discover it) or tiered cash back schemes (a la Blue Cash Preferred from American Express and BankAmericard Cash Rewards).Excellent Fringe Benefits. This card has a nice lineup of fringe benefits, including complimentary insurance on rental cars and a slew of discounts on purchases with Visa partners. When used judiciously and on items you’d buy anyway, these discounts can save you dozens or hundreds of dollars per year. Disadvantages
No Bonus Cash Back Categories. This card’s 1.5% baseline cash back rate isn’t bad, but there’s no way to boost it either. Some competing cards, such as Citi Double Cash Card and Fidelity Rewards Visa Signature Card, earn 2% cash back on all purchases. Others have temporary or permanent bonus categories that boost cash back averages north of 2%. For instance, Chase Freedom and Discover it both have 5% categories that change quarterly.Not Available to the General Public. This card’s other big catch is its eligibility requirements. If you’re not a current or former member of the Armed Forces, a civilian DoD employee, or an immediate family member of someone in either category, you won’t be approved. Needless to say, this disqualifies most American consumers. Final Word
Despite its name, Navy Federal Credit Union doesn’t require members to have naval experience. Anyone who’s served in the U.S. military, past or present, qualifies for membership. So do DoD employees and immediate family members of either class. The deal is simple: if you’ve made personal and professional sacrifices to serve your country, you deserve a credit union that works on your behalf. Unfortunately, most people don’t qualify for NFCU membership. Good thing NFCU isn’t the only credit union for federal and military employees. State Department Federal Credit Union (SDFCU) is also open to folks who put their country first. And, thanks to loopholes that let non-government employees join for one-time fees as low as $15, it’s a great choice for those frozen out by NFCU. The Verdict
Our rating
4 2 5
Apply Now Navy Federal Credit Union cashRewards Credit Card
NFCU cashRewards Credit Card is ideal for frugal, fee-averse consumers who value straightforward cash back cards with ample fringe benefits. That said, it’s not for consumers who lack close connections to the Armed Forces or Department of Defense, nor those seeking extremely generous cash back rates. The Navy Federal Credit Union cashRewards Credit Card‘s top benefits include its mostly nonexistent fees, its solid cash back rate, its generous sign-up bonus, and its strong lineup of fringe benefits. Its major drawbacks include the hard ceiling on the cash back rewards rate and the fact that it’s not available to the general public (despite generous loopholes). Overall, this is a great card for qualifying (mostly military) consumers seeking simple cash back rewards and favorable balance transfer terms. Explore More Reviews
Navy Federal Credit Union nRewards Secured Credit Card
Navy Federal Credit Union Visa Signature Flagship Rewards Credit Card
Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airline, or hotel chain, and has not been reviewed, approved, or otherwise endorsed by any of these entities. Opinions expressed here are the author's alone, not those of the bank, credit card issuer, airline, or hotel chain, and have not been reviewed, approved, or otherwise endorsed by any of these entities. Credit Cards Borrow Money Reviews TwitterFacebookPinterestLinkedInEmail Brian Martucci
Brian Martucci writes about credit cards, banking, insurance, travel, and more. When he's not investigating time- and money-saving strategies for Money Crashers readers, you can find him exploring his favorite trails or sampling a new cuisine. Reach him on Twitter @Brian_Martucci. FEATURED PROMOTION
Discover More Related Articles
Borrow Money Reviews Credit Cards Credit Cards Navy Federal Credit Union nRewards Secured Credit Card Review Credit Cards Navy Federal Credit Union Visa Signature Flagship Rewards Credit Card Review Credit Cards Navy Federal Credit Union Platinum Card Review Credit Cards Navy Federal Credit Union GO REWARDS Credit Card Review Banking Navy Federal Credit Union Review - How Does It Stack Up? Credit Cards Capital One Platinum Credit Card Review - Build Your Credit