Navy Federal Platinum Credit Card

Navy Federal Platinum Credit Card Review

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

Key Takeaways

• 0% APR balance transfer intro rate. Offers an introductory 0% APR rate on balance transfers for up to 12 months, which is the average period for 0% APR balance transfer cards.
• Competitive APRs. Navy Federal Platinum Credit Card has a variable purchase APR that ranges from 8.24% up to 18%.
• No annual fee*. This is a great option for people looking for a low-maintenance card. It gives you the benefits of a credit card, 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.
• 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, emergency support, extended warranty protection on purchases, 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 Platinum Credit Card

The Good

The Bad

Potentially lower than average purchase APRs. 0% APR balance transfer intro rate on balance transfers for up to 12 months. Has an introductory APR rate on balance transfers of 0.99%. No balance transfer fee. No annual fee. Multiple credit card perks. Offers auto rental collision damage waiver. Extended warranty on purchases. Free access to your credit score. Identity Theft Protection. Travel assistance insurance No foreign transaction fee. Navy Federal Platinum Credit Card reports to multiple credit bureaus.

You need good credit to qualify. Does not offer a signup bonus. Does not offer rewards or cash back. You don't earn rewards on every purchase.

Navy Federal Platinum Credit Card FAQ

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

No, it does not offer a rewards program.

What are the Navy Federal Platinum Credit Card benefits?

It provides the following benefits:

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

What are the relevant APRs for Navy Federal Platinum 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 Platinum Credit Card has a variable purchase APR that ranges from 8.24% up to 18%. The card has a variable balance transfer APR that ranges from 8.24% up to 18.00%. It also has a variable cash advance APR that ranges from 8.24% up to 20.00%. 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 Platinum Credit Card?

The following fees apply:

Navy Federal Platinum 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 card.

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

Yes, Navy Federal Platinum 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 Platinum Credit Card

• Visit the Navy Federal Platinum 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.