Navy Federal cashRewards Credit Card Review

Navy Federal cashRewards Credit Card 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. This is everything you need to know to make a good choice.

Key takeaways:

• Earn 1.5% cash back on everyday purchases. This is higher than the average reward rate (1% cash back) for everyday purchases.
• Competitive APRs. Navy Federal cashRewards Credit Card has a variable purchase APR that ranges from 11.15% up to 18%.
• No annual fee. This is a great option for people looking for a low-maintenance rewards card. It gives you rewards on your purchases, but you don't have to pay an annual fee for the privilege.
• $0 Balance transfer fee. This card does not charge a fee on balance transfers.
• $0 foreign transaction fee. This card does not charge foreign transaction fees, which makes a great credit card to carry with you when traveling abroad.
• Multiple credit card benefits. Includes generous credit card perks, such as rental insurance, travel assistance, and fraud protection.
• Good or better credit required. You should probably try with another card if your credit score is below 700.

Navy Federal cashRewards Credit Card Pros and Cons:

The Good

The Bad

Lower than average purchase APRs. Has an introductory APR rate on balance transfers of 1.99%. No balance transfer fee. No annual fee. Multiple credit card perks. Offers auto rental collision damage waiver. Free access to your credit score. Travel assistance insurance No foreign transaction fee. Cardholders can earn rewards on every purchase. Earn rewards on every purchase. Navy Federal cashRewards Credit Card reports to multiple credit bureaus. Cardholders can earn rewards on their purchases.

Not available to the general public. You must have current or past affiliation with the Armed Forces to be approved. Requires good to excellent credit. Does not offer a signup bonus.

Is there a Navy Federal cashRewards Credit Card cash back or rewards program?

Navy Federal cashRewards Credit Card is a cashback card. This means you earn a percentage of your purchase as a cash reward. With Navy Federal cashRewards Credit Card you receive 1.5% cash back on every purchase. For example, if you buy a $1,000 laptop, you will receive $15 back in cash.

Navy Federal cashRewards Credit Card Rewards

Rewards rate (all purchases)	1.5%
Max rewards rate	N/A
Annual rewards limit	N/A
Signup Bonus ($)	N/A

What are the Navy Federal cashRewards Credit Card benefits?

Navy Federal cashRewards Credit Card provides the following benefits:

• Free Credit Score
• Auto Rental Collision Damage Waiver
• Zero fraud liability
• Cellular Telephone Protection
• Travel Assistance
• ID Theft Protection
• Reports to major credit bureaus

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

According to the Federal Reserve Board, the average interest rate is 15% for all credit cards and 17% for accounts that carry a balance. Navy Federal cashRewards Credit Card has lower than average purchase APRs.

Navy Federal cashRewards Credit Card has a variable purchase APR that ranges from 11.15% up to 18%. The card has a variable balance transfer APR that ranges from 11.15% up to 18%. It also has a variable cash advance APR that ranges from 13.15% 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 to Navy Federal cashRewards Credit Card:

Navy Federal cashRewards Credit Card Fees

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

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

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 can help improve your credit score.

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 you're denied click here to find out why your application may have been rejected and what you can do about it.

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.