Who is cashRewards Credit Card Designed For?
The cashRewards Credit Card is designed for people with good to excellent credit who are members of Navy Federal Credit Union and are looking for a credit card with no annual fee, no balance transfer fee, low rates, and an easy to use cash back rewards program. However, the Navy Federal Credit Union is only open to people who are affiliated with the Armed Forces, either directly or through a relative or household member.
The Navy Federal Credit Union was founded in 1933. When it started it had seven members, now it has over 6.7 million members and over 78 billion dollars in assets. Bauer Financial gives it five stars and it has an A rating with the BBB.
What are cashRewards Credit Card's Rates?
The rates for purchases and balance transfers range from 11.15% APR to 18.0% APR, depending on the creditworthiness of the member. Cash advance rates are 2% above a cardholder's purchases APR. There is an 18.0% APR penalty rate that is triggered when a cardholder is late on payments.
What Are the Fees for cashRewards Credit Card?
The cashRewards Credit Card has no annual fee. ATM cash advances are free when performed at a Navy Federal Branch or ATM. Otherwise, there's a $0.50 fee on domestic cash advances and $1 on international cash advances. Foreign transactions have no fee.
What Is cashRewards Credit Card's Rewards Program Like?
The cashRewards Credit Card has a straightforward cash back rewards program that gives 1.5% back on every transaction. There is no limit to the cash back you can earn, rewards never expire, and members can redeem their cash back as soon as they earn it. A cardholder who spends an average of $1,000 a month in purchases will earn $180 in cash back a year.
What about cashRewards Credit Card's Signup Bonus?
There is no signup bonus.
Does cashRewards Credit Card Have Any Other Benefits?
The Navy Federal's cashRewards Credit Card gives cardholders Visa benefits including collision damage waiver on car rentals, travel and emergency assistance, and cell phone insurance coverage.
How Is cashRewards Credit Card Better Than Other Credit Cards?
The cashRewards card offers prime benefits and low rates without charging an annual fee. It also packs an easy to use cash back rewards program with a flat 1.5% reward rate. It is rare for a card to combine all these features. The rub is that only Navy Federal Credit Union members can qualify for this credit card and its membership is restricted to people affiliated with the armed forces and their relatives.
Other Services by Navy Federal Credit Union
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
- Employed Full-Time
- Employed Part-Time
- Active Duty Military
- Military Dependent
- U.S. Citizen
- U.S. Permanent Resident
- 1099 Misc. Income
- Direct Deposit (W2, SSA, SSDI)
- Payroll Check or Prepaid Card
- Cash Back
- Auto Rental Collision Damage Waiver
- Cellular Telephone Protection
- Fraud Liability
- ID Theft Protection
- Travel Assistance
- Every Purchase
Navy Federal Credit Union Personal Credit Cards
Purchases APR (variable)
Balance Transfer APR (variable)
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