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Navy Federal More Rewards American Express card review

Navy Federal More Rewards American Express card review

Published: December 1, 2017
Ratings Policy
Low Interest Rating:
2.3 rating
2.3 rating
2.3 / 5
Rates, Fees, Penalties: 2.1
Rewards: 4.5
Features: 4.0

In a nutshell:

The NFCU card comes with very reasonable rates and fees, though cardholders looking to save on interest may be better served by a card with a 0 percent introductory offer.

Regular APR
10.65-18% (variable)

Introductory Purchase APR
None

Introductory Balance Transfer APR
None

Fees

  • No annual fee
  • No balance transfer fee
  • No foreign transaction fee
  • No cash advance fee

Penalties

  • $20 late payment fee
  • 18% penalty APR
  • $20 returned payment fee

Other Notable Features: Access to presale tickets and special events/experiences, global dining program, no foreign transaction fees, emergency assistance (medical, legal, personal and travel-oriented), roadside assistance, car rental loss and damage insurance, extended warranty, purchase protection, return protection, $0 liability, EMV chip technology

No Annual Fee Rating:
4 rating
4 rating
4 / 5
Rewards Value: 4.6
Annual Percentage Rate: 3.9
Rewards Flexibility: 3.7
Features: 3.0

In a nutshell:

For military members on the search for an affordable travel rewards card, the Navy Federal Credit Union More Rewards card ranks near the top.

Rewards Rate

  • 3:1 supermarkets
  • 3:1 gas stations
  • 2:1 restaurants
  • 1:1 other purchases

Sign-up Bonus
25,000 points when you spend $3,000 in the first 90 days

Annual Fee
$0

Average Yearly Rewards Value ($1,325 monthly spend)
$385

APR
10.65-18% (variable)

Pros:

  • Points don’t expire
  • No limit to the points you can earn
  • No blackout dates
  • Variety of redemption options, including gift cards, merchandise, travel and cash back

Cons:

  • Cash back has a much lower redemption value (.5 cents per point)
  • Airfare must be booked through NFCU website
  • Minimum of 1,000 points required for digital downloads; 7,500 points for airline voucher

Other Notable Features: Access to presale tickets and special events/experiences, global dining program, no foreign transaction fees, emergency assistance (medical, legal, personal and travel-oriented), roadside assistance, car rental loss and damage insurance, extended warranty, purchase protection, return protection, $0 liability, EMV chip technology

Rewards Rating:
3.7 rating
3.7 rating
3.7 / 5
Rewards Value: 3.9
Annual Percentage Rate: 4.2
Rewards Flexibility: 3.7
Features: 3.0

In a nutshell:

With no annual fee, triple points on supermarket and gas station purchases and a handsome sign-up bonus, the brand-new Navy Federal More Rewards American Express card is an especially good deal for families and business travelers.

Rewards Rate

  • 3:1 supermarkets
  • 3:1 gas stations
  • 2:1 restaurants
  • 1:1 other purchases

Sign-up Bonus
25,000 points when you spend $3,000 in the first 90 days

Annual Fee
$0

Average Yearly Rewards Value ($1,325 monthly spend)
$385

APR
10.65-18% (variable)

Pros:

  • Points don’t expire
  • No limit to the points you can earn
  • No blackout dates
  • Variety of redemption options, including gift cards, merchandise, travel and cash back

Cons:

  • Cash back has a much lower redemption value (.5 cents per point)
  • Airfare must be booked through NFCU website
  • Minimum of 1,000 points required for digital downloads; 7,500 points for airline voucher

Other Notable Features: Access to presale tickets and special events/experiences, global dining program, no foreign transaction fees, emergency assistance (medical, legal, personal and travel-oriented), roadside assistance, car rental loss and damage insurance, extended warranty, purchase protection, return protection, $0 liability, EMV chip technology

Travel Rating:
3.5 rating
3.5 rating
3.5 / 5
Rewards Value: 3.4
Annual Percentage Rate: 4.3
Rewards Flexibility: 3.7
Features: 3.0

In a nutshell:

Thanks to its extraordinarily high bonus rate on gas, groceries and restaurant purchases, the Navy Federal Credit Union More Rewards card is one of the best travel rewards cards for military members and their families.

Rewards Rate

  • 3:1 supermarkets
  • 3:1 gas stations
  • 2:1 restaurants
  • 1:1 other purchases

Sign-up Bonus
25,000 points when you spend $3,000 in the first 90 days

Annual Fee
$0

Average Yearly Rewards Value ($1,325 monthly spend)
$385

APR
10.65-18% (variable)

Pros:

  • Points don’t expire
  • No limit to the points you can earn
  • No blackout dates
  • Variety of redemption options, including gift cards, merchandise, travel and cash back

Cons:

  • Cash back has a much lower redemption value (.5 cents per point)
  • Airfare must be booked through NFCU website
  • Minimum of 1,000 points required for digital downloads; 7,500 points for airline voucher

Other Notable Features: Access to presale tickets and special events/experiences, global dining program, no foreign transaction fees, emergency assistance (medical, legal, personal and travel-oriented), roadside assistance, car rental loss and damage insurance, extended warranty, purchase protection, return protection, $0 liability, EMV chip technology

The recently debuted Navy Federal More Rewards American Express card is a simple and straightforward credit card with an excellent rewards program, flexible redemption and a great variable APR — but before you start celebrating and filling out the application, you should know that only Navy Federal Credit Union members can apply, and eligibility is restricted to past and present servicemen, servicewomen and their immediate family members.

High rewards for groceries and gas

The Navy Federal More Rewards card earns high marks for its strong 3:1 rewards at supermarkets — which, unlike the American Express EveryDay Preferred card, doesn’t have an annual cap. Road trippers and business travelers will enjoy that same generous rate on gas station purchases, while cardholders who frequently dine out are sure to appreciate the card’s 2:1 rewards at restaurants. The base reward for general purchases is one point per $1.

Depending on your spending habits, the card’s rewards program makes it a good option for everyday use, especially when you factor in no annual fee and average yearly savings of $385 (based on a monthly spend of $1,325).

Strong sign-up bonus

Spending $3,000 in the first three months will nab you 25,000 miles (worth $250). The spending requirement is on the higher end when it comes to credit card sign-up offers, so be sure the charges you make during this timeframe can be easily paid off before interest starts accruing — otherwise, you’ll be eating into your rewards right off the bat.

Excellent APR

With average APRs for credit cards hovering around 15 to 16 percent, the Navy Federal More Rewards card’s variable interest rate is particularly attractive. Cardholders with excellent credit may be offered an APR as low as 10.65 percent. Meanwhile, those with less-than-perfect credit histories may also qualify for a relatively low rate that tops out at just 18 percent, which is well below many other rewards and cash back cards.

However, don’t let a reasonable APR stop you from using your credit line wisely. In other words, try to use the Navy Federal More Rewards card only for what you’d usually pay for with cash or your checking account balance.

Flexible redemption options — with a catch

Card rewards are redeemable through the Navy Federal Rewards websitenot American Express’ Membership Rewards program — and can be used for gift cards, merchandise, travel and cash back. A few pointers: Airfare, hotels and car rentals must be booked directly through this site; and you should avoid redeeming points for cash back, which cuts the value of each point from 1 cent to 0.5 cents.

Good perks for no annual fee

For a card with no annual fee, the Navy Federal More Rewards credit card offers an impressive array of benefits. Perks include access to presale tickets, special events/experiences and a global dining program; emergency assistance (medical, legal, personal and travel-oriented); roadside assistance; car rental loss and damage insurance; extended warranty; purchase protection and more.

The card’s lack of a foreign transaction fee — a feature usually reserved for credit cards with high annual fees — is also notable. What this means is you can use the Navy Federal More Rewards card to build up rewards while traveling without having to worry about racking up excessive fees, too.

Why get the Navy Federal More Rewards card?

  • You already belong to Navy Federal Credit Union or can qualify for membership.
  • You regularly use credit cards to pay for everyday purchases.
  • You have kids or otherwise require a large budget for grocery shopping.
  • You dine out frequently and want to cash in on the card’s restaurant rewards.
  • You prefer a variety of options when it comes to redeeming rewards.

How to use the Navy Federal More Rewards card:

  • Spend at least $3,000 within the first three months to earn the 25,000-point sign-up bonus.
  • Use the card to pay for all U.S. supermarket and gas station purchases.
  • Avoid redeeming rewards for cash back, which cuts the value of each point in half.
  • Keep your account open until you’ve redeemed all awards.
  • Use the card when traveling overseas to take advantage of no foreign transaction fees.

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