Reviews Navy Federal Credit Union Cash Rewards card review
Navy Federal Credit Union Cash Rewards card review

Navy Federal Credit Union Cash Rewards card review

Published: July 18, 2017
Advertiser Disclosure
Ratings Policy
Cash Back Rating:
2.9 rating
2.9 rating
2.9 / 5
Rewards Value: 1.9
Annual Percentage Rate: 4.0
Rewards Flexibility: 4.3
Features: 3.0

In a nutshell:

The Navy Federal Credit Union Cash Rewards card is an inexpensive cash back card with simple, straightforward rewards.

Rewards Rate
1.5% cash back on general purchases

Sign-up Bonus
None

Annual Fee
$0

Average Yearly Rewards Value ($1,325 monthly spend)
$239

APR
10.4-18% (variable)

Rewards Redemption
Pros

  • Rewards don’t expire
  • Redeem for statement credit or bank deposit
  • No limit on amount of cash back
  • No minimum redemption amount

Cons

  • Can’t redeem cash through paper checks

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

No Annual Fee Rating:
3 rating
3 rating
3 / 5
Rewards Value: 1.9
Annual Percentage Rate: 3.9
Rewards Flexibility: 4.3
Features: 3.0

In a nutshell:

For no annual fee, Navy Federal Credit Union Cash rewards cardholders get a simple – if not exceptional – rewards program with 1.5 percent cash back on all purchases and a decent array of travel and purchases benefits.

Rewards Rate
1.5% cash back on general purchases

Sign-up Bonus
None

Annual Fee
$0

Average Yearly Rewards Value ($1,325 monthly spend)
$239

APR
10.4-18% (variable)

Rewards Redemption
Pros

  • Rewards don’t expire
  • Redeem for statement credit or bank deposit
  • No limit on amount of cash back
  • No minimum redemption amount

Cons

  • Can’t redeem cash through paper checks

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

Rewards Rating:
2.9 rating
2.9 rating
2.9 / 5
Rewards Value: 1.7
Annual Percentage Rate: 4.2
Rewards Flexibility: 4.3
Features: 3.0

In a nutshell:

With a low APR and up to 1.5 percent 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.

Rewards Rate
1.5% cash back on general purchases

Sign-up Bonus
None

Annual Fee
$0

Average Yearly Rewards Value ($1,325 monthly spend)
$239

APR
10.4-18% (variable)

Rewards Redemption
Pros

  • Rewards don’t expire
  • Redeem for statement credit or bank deposit
  • No limit on amount of cash back
  • No minimum redemption amount

Cons

  • Can’t redeem cash through paper checks

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

The Navy Federal Credit Union Cash Rewards 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’s flagship cash rewards card ranks high on our list of cash back cards, thanks to its relatively high rewards value and affordable 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 percent 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.

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. If you spend roughly $3,000 a month, for example, you can take home nearly $700 – including the card’s one-time sign-up bonus – by the end of the card’s first year. 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 10.4 percent, which is especially low for a rewards card. The average APR for cash back credit cards, for example, is currently 16.17 percent, according to CreditCards.com data. Meanwhile, the maximum APR for cardholders with imperfect credit is 18 percent, which is significantly lower than many competitors. 

Reasons to sign up for it:

  • 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 it:

  • 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.

Our reviews and best card recommendations are based on an objective rating process and are not driven by advertising dollars. However, we do receive compensation when you click on links to products from our partners. Learn more about our advertising policy

All reviews are prepared by CreditCards.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including card rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the bank’s website for the most current information.

Responses to comments in the discussion section below are not provided, reviewed, approved, endorsed or commissioned by our financial partners. It is not our partner’s responsibility to ensure all posts or questions are answered.