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Navy Federal Credit Union cashRewards Card review

Written by Editor, Product Claire Dickey is a product editor for Bankrate, CreditCards.com and To Her Credit. Before joining Bankrate, Claire worked as a copywriter for brands within the telecommunications April 25, 2022 Edited by Credit Card Reviews Writer Bankrate expert Garrett Yarbrough strives to make navigating credit cards and credit building smooth sailing for his readers. After regularly featuring his credit card, Reviewed by Former Senior Director of Content Antonio Ruiz-Camacho is senior director of content for CreditCards.com and Bankrate Credit Cards. He has more than 20 years of international experience leading content teams, April 25, 2022

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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

Navy Federal Credit Union cashRewards

Rewards rate Annual fee Intro offer Open a cashRewards card and earn $200 bonus cash back when you spend $2,000 within 90 days of account opening. Regular APR Recommended Credit Score A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Navy Federal Credit Union cashRewards Card overview

The Navy Federal Credit Union cashRewards card is a great choice if you belong to this , which caters to members of the military, Department of Defense civilian personnel and their families. We like this card because the rewards are easy to understand and straightforward. There are no games to play here.

A deeper look into the current card offer

Quick highlights

Rewards rate: N/A Welcome offer: Open a cashRewards card and earn $200 bonus cash back when you spend $2,000 within 90 days of account opening. Annual fee: $0 Regular APR: 9.65% – 18.00% (Variable)

Review

For those who find tracking bonus categories too cumbersome and just want simple cash-back rewards, the Navy Federal Credit Union cashRewards card delivers. The card pays 1.75 percent cash back on every purchase when you enroll in direct deposit, without any complicated rules or fees. Every time you make a purchase with your card, be it gas, groceries, clothing, the latest electronic must-have, you'll earn 1.5 percent cash back on that purchase. If you enroll in direct deposit, your cash back increases to 1.75 percent on each purchase. Navy Federal, like most credit unions that issue credit cards, generally charges lower annual percentage rates than the big banks with rates capped at an 18 percent APR. This card is no exception. The purchase and balance transfer APR is a variable 9.65 percent to 18 percent, depending on creditworthiness. If you qualify for the lower end of the range, it's a lot better than then the . There is also no annual fee, no foreign transaction fees, no cash advance fee and , which could make this card a compelling choice as a depending on the amount you're looking to transfer. And if you apply before January 3, 2022, you may get an even better value if you qualify for the $250 cash back bonus (after spending $2,500 within your first 90 days). These perks mean you may ultimately save more money transferring a small debt that you can pay off quickly to the cashRewards card instead of one with a that charges a fee, but it pays to do the math.

Navy Federal Credit Union cashRewards Card vs other cards

This all sounds great, right?You should, however, ask yourself why you would choose this card over another The , for example, also comes with no annual fee, unlimited 2 percent cash rewards on purchases and a nice $200 cash rewards after spending $1,000 on purchases within the first three months.

Navy Federal Credit Union cashRewards

star icon star icon star icon star icon star icon star icon star icon star icon star icon star icon Bankrate Score 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. Annual fee Intro offer Open a cashRewards card and earn $200 bonus cash back when you spend $2,000 within 90 days of account opening. Rewards rate Recommended credit A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Wells Fargo Active Cash® Card

on Wells Fargo's secure site Annual fee Intro offer Earn a $200 cash rewards bonus after spending $1,000 in purchases in the first 3 months Rewards rate Earn unlimited 2% cash rewards on purchases Recommended credit A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Capital One QuicksilverOne Cash Rewards Credit Card

on Capital One's secure site Annual fee Intro offer Intro offer is not available to this Capital One credit card Rewards rate Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply Earn unlimited 1.5% cash back on every purchase, every day Recommended credit A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Who should get this card

Anyone who qualifies for Navy Federal Credit Union membership and wants a simple, can benefit from owning this card. If you're considering this card, keep in mind 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.

Fees and APR

This card comes with a purchase and balance transfer variable APR of 9.65 percent to 18 percent You'll pay no annual fees, balance transfer fees, cash advance fees or foreign transaction fees with this card. If you miss a payment or pay late and if you're over 60 days past dye, a variable penalty APR of 18 percent may be applied to your account until you make at least six consecutive payments. Plus, a late fee of up to $20 may apply.

Extras perks and using points

This card comes with or 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 can't be used in conjunction with cash for partial reward redemptions (your points must cover the entire purchase). 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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Written by Claire Dickey Editor, Product Claire Dickey is a product editor for Bankrate, and . Before joining Bankrate, Claire worked as a copywriter for brands within the telecommunications industry as well as a hybrid marketing and content writer. Edited by Credit Card Reviews Writer Reviewed by Former Senior Director of Content

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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.