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2021 Review: Navy Federal Credit Union Platinum Card – For Paying Off Debt

Updated May 26, 2021 | Published Apr 20, 20217 min read

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Navy Federal Credit Union Platinum Card

Min Credit Level Fair
Annual Fee $0
Regular APR 5.99% - 18.00% Variable
At a glance

The Navy Federal Credit Union Platinum Card has an attractive balance transfer offer, including a rare feature — no balance transfer fee. But that’s about all there is to this card. You’ll need to be an NFCU member to apply, which requires having eligible ties to the military.

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Our Rating: 4 Out of 5 Stars

We give the Navy Federal Credit Union Platinum Card 4 out of 5 Stars. It provides a good opportunity for balance transfers but little else.

Why We Like It

  • Solid intro balance transfer offer: 0% for 12 months, then 5.99% - 18.00% Variable
  • No balance transfer fee
  • No foreign transaction fee
  • No annual fee

Why It Could Be Better

  • Must join NFCU to apply for the card, and access is limited — learn about NFCU eligibility here
  • No 0% APR for purchases

If you have another credit card with a balance that’s accruing interest, the Navy Federal Credit Union Platinum could help you avoid those pesky interest charges.

You can move that balance to this card and pay it down while it accrues no interest for a set time. And the best part? There’s no balance transfer fee.

However, there aren’t any rewards, so if you can, we suggest pairing it with a rewards credit card for your everyday spending.

Insider Advice: Getting the Most Out of Your Card

  • Got credit card debt? Use the NFCU Platinum for balance transfers: This is an excellent card for balance transfers thanks to this special combo: It has a lengthy 0% APR for balance transfers, along with no transfer fee. If you’re struggling with debt on another credit card, you can move it to the NFCU Platinum for free and pay it down over time at no extra cost.
  • Transfer a balance quickly to get the 0% rate: You’ll have 30 days from your account opening to take advantage of the 0% APR balance transfer offer.
  • It’s not bad for international travel: Although you won’t earn rewards for travel expenses with this card (or for any other expenses), there are no foreign transaction fees and it’s available as either a Visa or Mastercard, making it a reliable payment method when you’re outside the U.S.
  • Check out your benefits: There aren’t any luxury perks with the NFCU Platinum (you won’t easily confuse it for The Platinum Card® from American Express (Review)). But you do have access to useful protection and insurance benefits, which could save you some money if something goes wrong with a purchase or rental car, or even if you just find a better price. And you can easily keep tabs on one of your credit scores, a nice tool if you’ve been trying to pay down a balance and improve your credit.
Read more 2021’s Best Credit Cards With No Balance Transfer Fees and 0% APR

The Benefits

The Navy Federal Credit Union Platinum credit card provides a pretty useful selection of perks, depending on what kind of card you choose. If you’re issued the Mastercard version, you’ll get a few additional protections. Otherwise, you’ll likely still get some value from the cell phone protection, travel insurance, and credit score monitoring tool.

  • Free FICO credit score: See your FICO Score 9, based on your Equifax credit report, whenever you’d like.
  • Cell Phone Protection: Pay your monthly cell phone bill with the card to get coverage for theft and damage.
  • Price Protection (Mastercard only): Get reimbursed if you find an eligible purchase being sold for less.
  • Purchase Assurance Coverage (Mastercard only): Eligible purchases are covered against damage and theft for 90 days.
  • Extended Warranty (Mastercard only): Eligible manufacturer’s warranties of 12 months or less can be doubled.
  • Airport Concierge (Mastercard only): Get a 15% discount on eligible Meet and Greet airport services, in which an agent escorts you through departure, arrival, and connecting flights.
  • Collision Damage Waiver: Get coverage for theft and damage of rental vehicles, as long as you decline the rental company’s own insurance.
  • Travel and Emergency Assistance: Provides help with medical and legal emergencies, lost luggage, and more
  • Contactless purchases: Tap-to-pay at eligible checkout terminals.

The Terms & Fees

Purchase APR Balance Transfer APR Cash Advance APR
5.99% - 18.00% Variable 0% for 12 months, then 5.99% - 18.00% Variable 2% above your variable APR. This APR will vary with the market based on the U.S. Prime Rate
Annual Fee Foreign Transaction Fee
$0 $0
Balance Transfer Fee Cash Advance Fee
None None if performed at a Navy Federal branch or ATM. Otherwise, $0.50 per domestic transaction or $1.00 per foreign transaction
Penalty APR Late Fee Returned Payment Fee
18.00% Up to $20 Up to $20

Take note you’ll need to request a balance transfer within 30 days of your account opening in order to qualify for the intro 0% interest rate offer.

The Bottom Line

If you’re in the market for a balance transfer, the Navy Federal Credit Union Platinum Card wouldn’t be a bad choice. It can help stem the overwhelming tide of interest charges, and hopefully give you some relief if your balances have begun to pile up. Transferring some debt here, with no balance transfer fee, could take some of the pressure off as you pay it down at 0% interest.

While some other balance transfer cards may offer longer 0% periods, most also have transfer fees. Plus, there’s no foreign transaction fee here, meaning you can use it outside of the U.S. without worrying about incurring any extra charges.

But if you’re looking for anything else, you’d better look elsewhere. This card is somewhat of a one-trick pony. You could consider pairing it with a cash back card so you can pay down a balance and earn rewards at the same time.

How Do I Apply for the NFCU Platinum Card?

Follow the link below to apply now. You’ll need to become a Navy Federal Credit Union member first, which requires having “ties to the armed forces, DoD or National Guard.”

What Credit Scores Do You Need to Get the NFCU Platinum Card?

The NFCU Platinum doesn’t require platinum credit scores — it’s designed for fair credit, like many credit union cards.

Fair credit is usually considered to be a FICO score of 580–669, or a VantageScore of 650–699.

But remember that credit card approval decisions rely on more than just credit scores. Several other factors, like income and monthly debt obligations, affect your creditworthiness too and can sway the decision one way or another.

Frequently Asked Questions

How long is the NFCU Platinum card’s 0% balance transfer introductory period?

The intro balance transfer offer is:

  • 0% interest for 12 months, then 5.99% - 18.00% Variable

Curious about how balance transfers work? Take a look at our in-depth guide.

Does the NFCU Platinum card have a balance transfer fee?

No, the NFCU Platinum card doesn’t have a balance transfer fee.

You can see all of the card’s terms & fees right here.

How long do I have to transfer a balance to the NFCU Platinum card at 0% APR?

You’ll have 30 days after account opening to request a balance transfer that qualifies for the intro 0% APR.

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Alternatives to the Navy Federal Credit Union Platinum Card

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securely on the issuer's website

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securely on the issuer's website

  • Min. credit levelGood
  • Annual Fee$0*
  • Regular APR14.49% - 24.49%* Variable

Rates & Fees

  • 0% Intro APR on purchases and balance transfers for 20 billing cycles. After that, a variable APR currently 14.49% – 24.49%.
  • Great offer from U.S. Bank, a 2021 World’s Most Ethical Company® – Ethisphere Institute, February 2021.
  • No Annual Fee*
  • Flexibility to choose a payment due date that fits your schedule.
  • Get up to $600 protection on your cell phone (subject to $25 deductible) against covered damage or theft when you pay your monthly cellular telephone bill with your U.S.Bank Visa® Platinum Credit Card. Certain terms, conditions, and exclusions apply.
Why We Picked It

The U.S. Bank Visa® Platinum Card (Review) features one of the longest 0% introductory APRs around for both purchases and balance transfers.

  • Purchase APR: 0% for 20 billing cycles on purchases, then 14.49% - 24.49%* Variable
  • Balance Transfer APR: 0% for 20 billing cycles on balance transfers*, then 14.49% - 24.49%* Variable

So you’ll have far longer to pay off a balance with this card than you would with the NFCU Platinum, plus the addition of a 0% APR for your new purchases. Like the NFCU Platinum, there aren’t any rewards with the U.S. Bank Visa Platinum.

Key Features

Because it’s a Visa Platinum, cardholders will likely get a selection of Visa Platinum benefits, like shopping and travel protections, in addition to what’s listed below.

  • Monitor one of your credit scores: See your VantageScore 3.0 credit score based on your TransUnion credit report.
  • Cell phone protection: If your phone is damaged or stolen, you can file a claim to have it repaired or replaced. Call 1-866-894-8569 to file a claim. $600 per claim, two claims per year, for a total of $1,200.
  • Purchase APR: 0% for 20 billing cycles on purchases, then 14.49% - 24.49%* Variable
  • Balance Transfer APR: 0% for 20 billing cycles on balance transfers*, then 14.49% - 24.49%* Variable
  • Balance transfer fee: Either 3% of the amount of each transfer or $5 minimum, whichever is greater
  • Annual fee: $0*

Wells Fargo Platinum card

Our rating:
  • Min. credit levelGood
  • Annual Fee$0
  • Regular APR16.49%-24.49% Variable
Why We Picked It

The Wells Fargo Platinum card (Learn More) (Review) provides another opportunity to prevent further hemorrhaging due to debt, thanks to its long 0% intro APR.

Giving you extra breathing room with your debts is this card’s bread and butter. And you’ll have more time to deal with them than you would get from the NFCU Platinum. Like the NFCU Platinum, there aren’t any rewards to earn here, and the benefits aren’t as impressive.

Key Features
  • Cell phone protection: Get insured for up to $600 in damages or for theft when you pay your monthly phone bill with the card; subject to a $25 deductible.
  • Travel protections: Rental car insurance, travel accident insurance, access to roadside dispatch, and travel and emergency assistance services
  • Purchase APR: 0% intro APR for 18 months from account opening, then 16.49%-24.49% Variable
  • Balance Transfer APR: 0% intro APR for 18 months on qualifying balance transfers, then 16.49%-24.49% Variable
  • Balance transfer fee: 3% for 120 days from account opening, then up to 5%; min: $5
  • Annual fee: $0
Apply Now

securely on the issuer's website

Apply Now

securely on the issuer's website

  • Min. credit levelGood
  • Annual Fee$0
  • Regular APR13.74% - 23.74% (Variable)
  • 0% Intro APR for 18 months on purchases from date of account opening and 0% Intro APR for 18 months on balance transfers from date of first transfer. After that the variable APR will be 13.74% – 23.74%, based on your creditworthiness. Balance transfers must be completed within 4 months of account opening.
  • There is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater
  • Get free access to your FICO® Score online.
  • With Citi Entertainment®, get special access to purchase tickets to thousands of events, including concerts, sporting events, dining experiences and more.
  • Shop with confidence knowing that you have dependable protection benefits, including $0 Liability on Unauthorized Purchases and Citi®Identity Theft Solutions.
  • The standard variable APR for Citi Flex Plan is 13.74% – 23.74%, based on your creditworthiness. Citi Flex Plan offers are made available at Citi’s discretion.
Why We Picked It

The Citi® Diamond Preferred® Card (Review) is another strong 0% APR balance transfer card.

It offers a longer introductory period than the NFCU Platinum, so if you’re looking for more time to pay down a transferred balance, this card could be an option. But you’ll end up paying a transfer fee for the privilege.

There aren’t any rewards, and the benefits are pretty equal, although the Diamond Preferred does come with a concierge that could prove useful for non-emergency tasks.

Key Features
  • Citi Concierge: Call 1-800-508-8930 anytime to speak with a personal assistant, who can help with non-emergency tasks like finding tickets or making reservations.
  • Citi Entertainment: Access tickets to a wide variety of events, like concerts and sporting events, occasionally including presales and exclusive experiences.
  • Free FICO Score: Check your FICO Bankcard Score 8, based on your Equifax credit report, for free.
  • Citi Identity Theft Solutions: Receive aid from Citi’s identity theft specialists, who will help you apply fraud alerts, monitor your credit reports, provide advice for completing police reports, and more.
  • Automatic account alerts: Alerts concerning your balance, payments due, and other key account factors are delivered via email or text.
  • Choose your payment due date: Pick from the beginning, middle, or end of the month.
  • Purchase APR: 0% for 18 months, then 13.74% - 23.74% (Variable)
  • Balance Transfer APR: 0% for 18 months, then 13.74% - 23.74% (Variable)
  • Balance transfer fee: 3%, $5 minimum
  • Annual Fee: $0

Citi is a Credit Card Insider advertiser.

Apply Now

securely on the issuer's website

Apply Now

securely on the issuer's website

  • Min. credit levelGood
  • Annual Fee$0
  • Regular APR13.99% – 23.99% (Variable)
  • Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
  • To earn cash back, pay at least the minimum due on time.
  • Balance Transfer Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 13.99% – 23.99%, based on your creditworthiness.
  • Balance Transfers do not earn cash back.
  • If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
  • There is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater.
  • The standard variable APR for Citi Flex Plan is 13.99% – 23.99% based on your creditworthiness. Citi Flex Plan offers are made available at Citi’s discretion.
Why We Picked It

The Citi® Double Cash Card – 18 month BT offer (Review) offers both a long 0% offer for balance transfers and an attractive rewards program.

You’ll get more time to pay down a balance than you would with the NFCU Platinum. You’ll also earn rewards for every purchase you make. However, if you plan to transfer a balance, just keep in mind if you continue to make purchases, you’d then be responsible for paying off your fresh purchases and the transferred balance. And those new purchases will accrue interest.

The benefits you’d see from the NFCU Platinum card are more impressive than what you’d get from the Double Cash. But why choose? You could use the NFCU card for its balance transfer offer, and then use the Double Cash to earn rewards for your purchases.

Rewards
Spending Rewards
  • 2% cash back for every purchase (must pay at least the minimum due on time):
    • 1% back when you make a purchase
    • 1% back when you pay for that purchase
Key Features
  • Free FICO credit score: Keep tabs on your FICO Bankcard Score 8, based on your Equifax credit report.
  • Personal concierge service: Call 1-800-508-8930 to speak with your own personal assistant, for help with all kinds of non-emergency tasks.
  • Citi Private Pass: Get preferred access and presale tickets to select events and experiences, including music, sports, dining, and theater.
  • Quick customer service: Call customer support and say “representative” to be connected with a human rep more quickly than usual.
  • Balance Transfer APR: 0% for 18 months on Balance Transfers, then 13.99% – 23.99% (Variable).
  • Balance transfer fee: Balance transfer fee applies with this offer 3% of each balance transfer; $5 minimum
  • Annual fee: $0

Citi is a Credit Card Insider advertiser.

Do you have the Navy Federal Credit Union Platinum Card? Has it helped alleviate some debt-induced stress? Let us know how you like it in the comments below!

For rates and fees of The Platinum Card® from American Express, please click here.

Written by

Evan Zimmer

Evan graduated from SUNY Oswego with a degree in journalism and creative writing. In his professional writing career, he strives for precision and comprehension in his work. He’s written news articles, blog posts, and copy, working across a slew of different mediums. With in-depth research and great care for accuracy and detail, he now works to bring you the most up-to-date credit information.

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