Navy Federal Credit Union cashRewards Credit Card Review
The Navy Federal cashRewards Credit Card is an excellent rewards credit card with no annual fees, and no foreign transaction fees, making this a great card for military members and their families.
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I’m a big credit card fan. I understand there are risks associated with using credit cards. But if you are like me and pay your bill in full each month, then you can use credit cards to your advantage.
I keep several credit cards in rotation, using cards based on their rewards program. I have some credit cards that offer excellent cash back, and I have travel credit cards that earn me airline miles.
There are even credit cards for military members. The best credit cards for military members generally fall into a few categories. For example, this can include credit cards from major military financial institutions, credit card issuers that don’t charge foreign transaction fees, or credit cards that offer best in class rewards (travel, cash back, etc.).
Do You Prequalify?
If you’re already a NFCU member, you can find out if you prequalify for a credit card before you submit an application. This won’t affect your credit score.
Navy Federal Credit Union cashRewards Credit Card
The Navy Federal Visa cashRewards Card fits nicely into this last class of credit cards. The cashRewards Credit Card from Navy Federal is one of their most popular rewards cards for military members, and for good reason.
It’s simple and straightforward, offering cash back that racks up with every purchase. And unlike most reward cards, cashRewards honors all purchases, so even if you’re buying a soda down the street, you’re earning unlimited cash back up to 2% with cashRewards Plus or unlimited cash back up to 1.5% with cashRewards card.
This cash back can be redeemed in various ways, including as statement credits or deposits into a Navy Federal account, making it flexible and convenient. Unlike many other cards, the rewards never expire, allowing users to accumulate them over time without pressure to redeem quickly.
Another significant advantage is the lack of fees associated with the card. There are no annual fees, which means the card is cost-effective from day one (see terms and conditions). Additionally, it does not charge foreign transaction fees, a crucial benefit for military members stationed overseas or frequently traveling. The absence of cash advance and balance transfer fees further enhances its value, making it an economical choice for various financial needs.
Too good to be true? Usually; but not this time. Because Navy Federal is a not-for-profit credit union, they don’t have demanding stockholders to appease. So instead, they can stay focused on their members.
Our Verdict
Navy Federal Credit Union cashRewards Credit Card
The Navy Federal cashRewards Credit Card offers military members and their families a straightforward rewards program with up to 2% cash back on all purchases with the cashRewards Plus card or up to 1.5% cash back with the cashRewards card. It boasts no annual, foreign transaction, cash advance, or balance transfer fees. With competitive interest rates, 24/7 member support, robust security features, and free access to FICO scores, this card is an excellent choice for those seeking a reliable and rewarding credit card experience tailored to the military community.
Compare the rates, fees, and rewards of top credit cards for military servicemembers and veterans, including cards with waived annual fees under the SCRA, with our Card Finder tool powered by CardRatings.
Final Thoughts
The Navy Federal cashRewards Credit Card offers a compelling mix of benefits and features tailored to the military community. Its generous cash back program, absence of fees, and strong security features make it a top choice for those eligible.
The card’s user-friendly design and exceptional member support further enhance its appeal. For military members and their families looking for a reliable and rewarding credit card, the Navy Federal cashRewards Credit Card is highly recommended.
Disclosure:
Navy Federal Credit Union is an Equal Housing Lender. The products and services offered by Navy Federal are available to military servicemembers, veterans, and their families, but the credit union is not affiliated with the U.S. Department of Veteran Affairs or any other government agency. For more details about Navy Federal’s offerings and to ensure you are getting the most accurate and updated information, please visit Navy Federal’s official website.
