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Navy Federal More Rewards American Express Card review

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Snapshot

4.3 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. star icon star icon star icon star icon star icon star icon star icon star icon star icon star icon is a that pays big on everyday spending-the Navy Federal More Rewards American Express Card. For those who spend a lot on groceries and , the unlimited earnings structure of this card makes it a terrific choice. Navy Federal's is tailor-made for those who spend a lot on and . The Navy Federal More Rewards American Express Card pays an unlimited 3 points per dollar spent at supermarkets and gas stations. It's rare to find a with unlimited rewards this good for both grocery purchases and spending at the pump. There's no annual cost of ownership with this card, no balance transfer fees and no foreign transaction fees. It doesn't stop there. The card also pays an unlimited 3 points per dollar for restaurant, food delivery and transit purchases, plus 1 point per dollar on all other spending. If you're still on the fence, the More Rewards card also offers an enticing promotional . From May 4 to June 30, 2021, you can earn 10,000 bonus points after spending $1,000 on purchases within your first 90 days. Your bonus adds up to $100 toward eligible travel purchases or cash back, which is a bit on the low side when you consider more accessible competitors' offers. The no annual fee earns unlimited 3% cash back on dining, entertainment, popular streaming services and at grocery stores (excluding superstores like Walmart® and Target®), plus 1% on all other purchases - all while offering a sign-up bonus cash back ($200) after spending only $500 on purchases within your first three months. But when it comes to redeeming points, keep in mind that although this is an American Express card, cardholders will receive Navy Federal Rewards points, not . Navy Federal Rewards are and can be redeemed for cash back, travel, gift cards or merchandise through the Navy Federal website. Because the card is a -branded credit card, you have to be a member of the credit union to apply. Eligibility is restricted to those who serve or have served in the military, are civilian personnel with the Department of Defense or are an immediate family member of either. However, it could be relatively inexpensive to switch over to since the More Rewards card (ongoing purchase and balance transfer APR is 9.65 percent to 18 percent variable).

Who should get this card

Anyone who spends big on groceries and gas can benefit from the rewards structure of this card.

Fees and APR

Pay no annual fee, balance transfer fee, cash advance fee (if at a Navy Federal ATM or bank) or foreign transaction fees. The variable APR on purchases and balance transfers is 9.65 percent to 18 percent, depending on creditworthiness. If you miss a payment or pay late, you may be subject to a variable penalty APR of 18 percent plus a late fee of up to $20. .

Key cardholder perks

You'll receive collision damage waiver coverage for 15 days or less and up to a 25 percent discount when you pay for the rental with the card. Since the More Rewards card is an American Express card, you can get to select concerts and entertainment events. This card also participates in American Express' Global Dining Program, which grants cardholders special discounts and benefits at participating restaurants. Your card's other like roadside assistance and some retail purchase protection can also come in handy if you're in a pinch. Each point is worth about 1 cent and can be redeemed through the Navy Federal Credit Union portal by logging into your account and selecting "Redeem Rewards." Points can be used for travel purchases, gift cards or cash back deposited to your Navy Federal savings account. There's no charge to redeem your points and they never expire as long as your account is open. Just keep in mind when redeeming your rewards that partial redemptions aren't allowed. This means if you redeem for travel, etc., you can't pay with a mix of points and cash. The information about the Navy Federal More Rewards American Express® 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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Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. * See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer. Editorial Disclosure: Opinions expressed here are the author's alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.