Navy Federal More Rewards American Express card review

Navy Federal More Rewards American Express card review

Published: November 14, 2019
Published: November 14, 2019
Ratings Policy
Low Interest Rating:
2.4 rating
2.4 rating
2.4 / 5
Rates, Fees, Penalties: 2.0
Rewards: 3.2
Features: 4.0
Customer Experience 4.8

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.

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Regular APR
11.40-18% (variable)

Introductory Purchase APR
0% for 12 months

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

Customer Experience

  • Consumer Reports rating: 95 (3% of issuers ranked higher)
  • 24/7 customer service?: Yes
  • Online chat available?: Yes
  • Google Play Store mobile app rating: 4.4/5
  • Apple Store mobile app rating: 3.3/5

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: 3.6
Annual Percentage Rate: 4.9
Rewards Flexibility: 3.7
Features: 2.0
Customer Experience 4.8

In a Nutshell:

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

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Rewards Rate

  • 3 points per dollar on supermarket, gas, transit and restaurant purchases
  • 1 point per dollar on other purchases

Sign-up Bonus
30,000 points if you spend $3,000 in first 90 days (offer expires 1/2/20)

Annual Bonus
None

Annual Fee
$0

Average Yearly Rewards Value ($1,325 monthly spend)
$437

APR
11.40-18% (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:

  • Airfare must be booked through NFCU website

Customer Experience

  • Consumer Reports rating: 95 (3% of issuers ranked higher)
  • 24/7 customer service?: Yes
  • Online chat available?: Yes
  • Google Play Store mobile app rating: 4.4/5
  • Apple Store mobile app rating: 3.3/5

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 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. And now there’s even more reason to apply for the card: The card recently updated its already generous bonus categories to offer 3X points on restaurant and transit purchases.

However, 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.

Generous 3X bonus categories

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 3:1 rewards at restaurants. And, if you don’t own a car and rely on public transit or ride-sharing, you’re also in luck, because the card now offers 3 points per dollar on transit purchases. The base reward for general purchases is 1 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 $437 (based on a monthly spend of $1,325).

Excellent APR

With average APRs for credit cards hovering above 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 11.40 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.

Plus, the card offers a 0-percent introductory APR on new purchases for the first 12 months of membership, which means you can make a large purchase with the card and carry a balance for your first year of membership without having to pay interest.

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. Also, Airfare, hotels and car rentals must be booked directly through this site, giving you a little less freedom than cards such as the Capital One Venture, which allows you to redeem any travel purchase for a statement credit.

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. Card members are eligible for a 25 percent discount on car rentals from a select list of agencies. Also, the card recently added Global Dining Program offers special savings and complimentary benefits at participating restaurants.

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 want to earn 3X points on your Uber rides or daily subway commutes.
  • 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 sign-up bonus.
  • Use the card to pay for all U.S. supermarket and gas station purchases.
  • Keep your account open until you’ve redeemed all awards.
  • Use the card when traveling overseas to take advantage of no foreign transaction fees.
  • Take advantage of NFCU’s Member Deals site to earn additional points and savings on your purchases with the card.
  • Check the American Express Global Dining website to see if you can get a freebie or discount on your restaurant visit.
  • Get a 25 percent discount on car rentals from participating agencies.

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