Navy Federal Credit Union cashRewards Visa Credit Card Review | CreditShout

Navy Federal Credit Union cashRewards Visa Credit Card Review

By Dan Rafter / October 18, 2011

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The Verdict: If you’re a member of the Navy Federal Credit Union, the Navy Federal cashRewards Visa credit card should be a welcome addition to your wallet. This card, which comes with no annual fee, offers you up to 1.5 percent cash back on all purchases. It also comes with a purchase interest rate that can be quite low depending on the quality of your credit.

Overview: You’ll earn cash back with every purchase you make with this card. The amount of cash you receive, though, will vary depending on how much you charge each year. The cash-back rate will rise once you’ve used your card to purchase more than $10,000 worth of items.

How This Card Works: Once you’ve charged at least $20 with the Navy Federal cashRewards card, you’ll start earning your cash-back bonus. This bonus will be credited to your account statement each month.

Travel & Shopping Benefits: Until you’ve charged at least $10,000 in a given year with your Navy Federal cashRewards card, you’ll receive a cash-back bonus of 1 percent of every purchase you make with your card. Once you’ve charged more than $10,000 in a given year, your cash-back bonus will jump to 1.5 percent of every purchase you charge.

Fees: This card not only comes with no annual fee, it also comes with a potentially low purchase interest rate. If you have good credit, you might qualify for a purchase interest rate of just 9.65 percent. You’ll struggle to find a consumer credit card that offers a lower such rate.

Pros:

  • Solid cash-back program.
  • Low interest rates for cardholders with strong credit.
  • No annual fee.

Cons:

  • Must charge at least $10,000 in a year to earn larger cash-back rewards.
The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are the author's alone.Additionally, the opinions of the commenters are not necessarily the opinions of this site

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