Navy Federal cashRewards Credit Card

Navy Federal cashRewards Credit Card Review

This is a cashback credit card issued by Navy Federal Credit Union. If you're wondering whether Navy Federal cashRewards Credit Card is the right card for you, read on.

Key Takeaways

• Open a cashRewards card and earn $200 bonus cash back when you spend $2,000 within 90 days of account opening.
• Competitive APRs. Navy Federal cashRewards Credit Card has a variable purchase APR that ranges from 11.90% up to 18%.
• No annual fee*. This is a great option for people looking for a low-maintenance cashback card. It gives you cashback on your eligible purchases, but you don't have to pay an annual fee for the privilege.
• No foreign transaction fee. This card does not charge a fee when you make a purchase that passes through a foreign bank, or is in a currency other than the U.S. dollar (USD), which makes it a great credit card to carry when traveling abroad.
• Multiple credit card benefits. Includes generous credit card perks, such as rental insurance, identity theft protection, travel assistance, and fraud protection.
• Good or better credit required. You will have low approval odds if your credit score is below 700.

Pros & Cons of Navy Federal cashRewards Credit Card

The Good	The Bad
Potentially lower than average purchase APRs. No annual fee. Multiple credit card perks. Offers auto rental collision damage waiver. Free access to your credit score. Identity Theft Protection. Travel assistance insurance No foreign transaction fee. Cardholders can earn rewards on their purchases. Navy Federal cashRewards Credit Card reports to multiple credit bureaus.	Not available to the general public. You must have current or past affiliation with the Armed Forces to be approved. You need good credit to qualify.

Navy Federal cashRewards Credit Card FAQ

Does Navy Federal cashRewards Credit Card have a cash back or rewards program?

This is a cashback card. This means you earn a percentage of your purchases as cash back rewards. You will receive 1.5% cash back on travel, dining, groceries, drugstore purchases, or any other purchase. For example, if you buy a $1,000 laptop, you will receive $15 back in cash.

Navy Federal cashRewards Credit Card Rewards

Minimum rewards rate	1.5x
Max rewards rate	N/A
Annual rewards limit	N/A
Signup Bonus ($)	$200
Signup Bonus Spend Requirement	$2000
Signup Bonus Spend Period (months)	3 months

What are the Navy Federal cashRewards Credit Card benefits?

It provides the following benefits:

• Free Credit Score
• Auto Rental Collision Damage Waiver
• Zero fraud liability
• Cell Phone Protection
• Travel Assistance
• Reports to major credit bureaus

What are the relevant APRs for Navy Federal cashRewards Credit Card?

According to the Federal Reserve Board, the average regular APR is 15% for all credit cards and 17% for accounts that carry a balance. This card has lower than average regular APRs.

Navy Federal cashRewards Credit Card has a variable purchase APR that ranges from 11.90% up to 18%. The card has a variable balance transfer APR that ranges from 11.90% up to 18%. It also has a variable cash advance APR that ranges from 11.90% up to 20%. Note that late payments are subject to an APR of 18% if you are late or miss your payments. Typically, the penalty APR applies for a minimum of six months but can go on indefinitely.

What are the fees for Navy Federal cashRewards Credit Card?

The following fees apply:

Navy Federal cashRewards Credit Card Fees

Fees	Amount
Annual Fee	$0
Foreign Transaction Fee	0%
Returned Payment Fee	up to $20
Late Payment Fee	up to $20

This card does not charge an annual fee, which makes it a smart choice for consumers looking for a low-cost cashback card.

Does Navy Federal cashRewards Credit Card report your account activity to credit bureaus?

Yes, Navy Federal cashRewards Credit Card reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

How to apply for Navy Federal cashRewards Credit Card

• Visit the Navy Federal cashRewards Credit Card website.
• Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
• Check the information is accurate and submit your application.

If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.