The Navy Federal cashRewards Credit Card is a popular credit card offered by Navy Federal Credit Union, which is one of the largest credit unions in the United States. Known for its competitive rewards program, low APR, and extensive benefits, this credit card is a great option for members who want to earn cash back on their everyday purchases. In this guide, we’ll explore the important features of the Navy Federal cashRewards Credit Card, eligibility requirements, and how you can apply for one.
Key Features of the Navy Federal cashRewards Credit Card
- Cash Back Rewards
One of the primary reasons people choose the Navy Federal cashRewards Credit Card is for the cash back it offers on purchases. Cardholders can earn 1.5% cash back on every dollar spent on all purchases. This is a simple, straightforward rewards program that does not require rotating categories or complex activation processes. Whether you’re shopping at a grocery store, dining out, or filling up your gas tank, you can earn cash back on all eligible purchases. - No Annual Fee
Unlike many other credit cards that charge an annual fee, the Navy Federal cashRewards Credit Card has no annual fee. This feature helps cardholders save money, as they can earn rewards without worrying about an additional cost of maintaining the card. - Low Introductory APR on Purchases and Balance Transfers
The Navy Federal cashRewards Credit Card offers a 0% introductory APR on purchases and balance transfers for the first 6 months after opening the account. This is an excellent option for those who want to transfer a balance from another high-interest credit card or make large purchases and pay them off over time without paying interest during the introductory period. After the introductory period, the standard APR applies, which is competitive in the industry. - No Foreign Transaction Fees
The Navy Federal cashRewards Credit Card does not charge foreign transaction fees, making it an ideal choice for frequent travelers. Whether you’re traveling abroad for business or leisure, you won’t have to worry about extra costs when using your card internationally. This is a significant advantage over many other credit cards that charge up to 3% in foreign transaction fees. - Earn Rewards Faster with Bonus Categories
While the cashRewards card earns a standard 1.5% cash back on all purchases, Navy Federal members also have the opportunity to earn higher rewards on select purchases. This includes special promotions that the credit union offers throughout the year, allowing cardholders to earn bonus cash back for certain types of spending or specific merchants. - Security Features
The Navy Federal cashRewards Credit Card is equipped with advanced security features such as zero fraud liability. This means that if your card is lost or stolen, you won’t be held responsible for unauthorized charges. In addition, Navy Federal provides cardholders with real-time transaction alerts and the ability to lock/unlock their card via the mobile app for added security. - Access to Navy Federal Mobile App
Managing your Navy Federal cashRewards Credit Card is easy with the Navy Federal mobile app. You can track your spending, check your rewards balance, make payments, and view statements all in one place. The app is user-friendly and available for both iOS and Android devices. - Special Member Offers
As a member of Navy Federal Credit Union, you may also be eligible for exclusive offers on financial products, discounts, and promotions. This includes special savings on home loans, auto loans, and even access to financial education resources to help you manage your finances.
Eligibility for the Navy Federal cashRewards Credit Card
Before you apply for the Navy Federal cashRewards Credit Card, it’s important to understand the eligibility requirements. Navy Federal Credit Union is not open to everyone, as it is a membership-based institution. However, the credit union allows certain individuals to join, which may include:
- Active-duty military members and veterans of the U.S. Armed Forces.
- Department of Defense employees (both civilians and contractors).
- Immediate family members of existing Navy Federal members (such as spouses, children, siblings, and parents).
- Household members of active-duty military members, veterans, and DoD employees.
If you meet one of these criteria, you can apply for membership with Navy Federal and, once approved, you can then apply for the Navy Federal cashRewards Credit Card.
How to Apply for the Navy Federal cashRewards Credit Card
The application process for the Navy Federal cashRewards Credit Card is straightforward, and you can complete it online, by phone, or in person at a Navy Federal branch. Below is a step-by-step guide to help you through the process.
Step 1: Become a Navy Federal Member
If you are not already a member of Navy Federal Credit Union, you’ll need to join first. This can be done by visiting the Navy Federal website or calling their customer service center. You’ll need to provide some basic information, such as:
- Your military affiliation (if applicable) or your family member’s affiliation.
- Proof of identity (such as a government-issued ID).
- Address and contact information.
Step 2: Complete the Credit Card Application
Once you’re a member, you can apply for the Navy Federal cashRewards Credit Card online, through the mobile app, or over the phone. You will be asked to provide some personal and financial details, including:
- Full name and address
- Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN)
- Annual income
- Employment status
- Other credit card debts (if applicable)
Navy Federal will also perform a credit check as part of the application process to determine your eligibility for the card and the credit limit you qualify for.
Step 3: Wait for Approval
Navy Federal typically makes decisions on credit card applications quickly. In most cases, you will receive an instant decision on your application, but it could take a few business days if Navy Federal needs to verify any additional information. If your application is approved, you will receive your card in the mail within 7-10 business days.
Step 4: Activate Your Card
Once you receive your Navy Federal cashRewards Credit Card, you will need to activate it. You can do this by following the instructions provided in your welcome packet or by logging into your Navy Federal online account.
Conclusion
The Navy Federal cashRewards Credit Card is an excellent choice for anyone who qualifies for membership with Navy Federal Credit Union. With its simple cash back rewards, no annual fee, low interest rates, and additional benefits, it’s a great way to earn rewards on everyday spending while enjoying valuable financial perks. If you’re eligible to join Navy Federal and are looking for a reliable and rewarding credit card, this product is certainly worth considering.
If you’re ready to apply, simply follow the steps outlined in this guide and enjoy all the benefits of being a Navy Federal member.
