| Cash Back Rating: | 3.7 / 5 |
| Rewards Value: | 3.6 |
| Annual Percentage Rate: | 4.9 |
| Rewards Flexibility: | 3.7 |
| Features: | 2.0 |
| Customer Experience | 4.8 |
In a Nutshell:
With a low APR and up to 1.5% cash back on every purchase, this modest credit union card is a great choice for cardholders who plan to carry a balance and want low-maintenance rewards at an affordable price.
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Sign-up Bonus |  |
Annual Bonus | |
Annual Fee | |
Average Yearly Rewards Value ($1,325 monthly spend) | |
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Rewards Redemption
Cons
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Customer Experience
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Other Notable Features: EMV chip, car rental insurance, luxury hotel discounts, concierge service, roadside dispatch, travel and emergency assistance, warranty manager service, automatic room upgrades, complimentary breakfast and Wi-Fi, VIP status
| Low Interest Rating: | 2.1 / 5 |
| Rates, Fees, Penalties: | 1.8 |
| Rewards: | 2.1 |
| Features: | 1.0 |
| Customer Experience | 4.8 |
In a Nutshell:
The Navy Federal Credit Union cashRewards Card offers a very low regular APR along with very reasonable rates and fees.
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Introductory Purchase APR
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Introductory Balance Transfer APR |  |
Fees
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Penalties
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Customer Experience
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Other Notable Features: EMV chip, car rental insurance, luxury hotel discounts, concierge service, roadside dispatch, travel and emergency assistance, warranty manager service, automatic room upgrades, complimentary breakfast and Wi-Fi, VIP status
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The Navy Federal Credit Union cashRewards Card* isn’t the most generous cash back card on the market, but it’s a good deal for cardholders who want substantial rewards without a complicated redemption scheme or a sky-high APR.
Navy Federal Credit Union membership is limited to active and retired military service members and their families, though, so you may not qualify for the card if you don’t have a military connection.
Simple cash back
If you’re looking for ample cash back but don’t want to keep track of rotating spending categories or bonus purchases, this card can be a good option. The card offers 1.5% cash back on every purchase. So if you use the card for all purchases, you can take home a substantial amount of cash. For example, if you spend roughly $1,600 each month for 12 months, you can earn nearly $300 by the end of your card’s first year. Even a modest $500 in monthly spending can earn you nearly $100 in cash back.
Decent sign-up bonus
The cashRewards Card is currently offering a sign-up bonus of $200 in cash back if you spend $2,000 within 90 days of opening your account (offer expires Dec. 31, 2024). Plus, you can get a one-time $98 statement credit when you pay $49 or more for an annual Walmart+ membership. While the statement credit is a nice perk you don’t typically see on welcome offers, the spending requirement is still a bit higher than some others.
Easy, straightforward redemption
Navy Federal Credit Union also makes it easy to redeem the cash you earn by imposing relatively few restrictions. There are no caps on how much you can earn. So if you’re a fairly heavy spender, you can potentially take home a considerable amount. The cash rewards also don’t expire, so you can rack up cash without immediately redeeming it. In addition, Navy Federal Credit Union doesn’t restrict how much or how little you can redeem.
Lower-than-average APR
Compared to most cash back credit cards, the average APR on the Navy Federal Credit Union is also relatively low. Cardholders with the highest credit scores are offered an APR as low as 9.65%, which is especially low for a rewards card. The average APR for cash back credit cards, for example, is around 16%. Meanwhile, the maximum APR is 18%, which is significantly lower than many competitors.
The card also offers a 0% intro APR for six months on balance transfers made within 90 days of account opening (offer expires Feb. 28, 2022), which could come in handy if you want to pay down a small debt within six months.
Why get the Navy Federal Credit Union cashRewards Card?
- You want a simple, straightforward cash back program with no rotating bonus categories.
- You’re looking for an affordable cash back card with a lower-than-average APR.
- You’re already a Navy Federal Credit Union member.
How to use the Navy Federal Credit Union cashRewards Card:
- Maximize the amount of cash back you earn by using your card for all your everyday purchases.
- Try to repay your card in full each month to avoid paying interest.
- Take advantage of the card’s Visa Signature benefits, such as car rental and lost luggage insurance, by using your card for domestic travel purchases.
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*All information about the Navy Federal Credit Union cashRewards Card has been collected independently by CreditCards.com and has not been reviewed or approved by the issuer.
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