2021 Review: The Navy Federal Visa cashRewards Card – Few Fees, Good Rewards for NFCU Members
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The Navy Federal Visa cashRewards is a good option if you’re an NFCU member looking for a flat-rate card. It’s straightforward with few fees, decent rewards, and a nice selection of benefits.
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Our Rating: 4 Out of 5 Stars
We give the Navy Federal Visa cashRewards Card 4 out of 5 Stars. It’s pretty simple. Earn cash back for every purchase and get a handful of useful perks, depending on what kind of card you’re issued.
Why We Like It
- Straightforward: earns 1.5% cash back for every purchase
- $100 cash back for spending $2,000 in the first 90 days of account opening
- No annual fee
- No foreign transaction fee
- No balance transfer fee
Why It Could Be Better
- No balance transfer APR offer
- Must join NFCU to apply for the card, and access is limited — learn about NFCU eligibility here
The Navy Federal Credit Union cashRewards card is easy to fit into your life. Use it for every purchase to earn a little cash back in your pocket. There are few fees, including no annual fee, so it won’t burn a hole in your wallet waiting to be used.
It comes with a handful of useful perks and benefits, including cell phone protection, and some that are relatively surprising to see on a card with no annual fee. It’s an attractive card, but keep in mind it’s only available to NFCU members.
Insider Advice: Getting the Most Out of Your Card
- Useful for everything: The card earns the same rate for everything you buy, so don’t leave home without it. Why not earn some rewards for purchases you’re already making?
- Use it for the essentials: If you don’t have another credit card that earns higher rewards for gas and groceries, use the NFCU cashRewards for those. Or…
- Pair it with another rewards card: There’s no annual fee or specific bonus categories to keep track of, so you can pair it with another rewards credit card or travel credit card that earns more rewards for specific purchases. Use the NFCU card for everything the other one doesn’t have bonus categories for.
- Pay your phone bill: The cashRewards card comes with a handy cell phone protection perk, but only if you’re paying your phone bill with your card.
- Bring it with you overseas: With no foreign transaction fee, you won’t have to pay extra for purchases in foreign currency. And, because it can be issued as either a Visa or Mastercard (what’s the difference?), you should have no problem with acceptance.
- Use it for car rentals: Another useful perk of the NFCU cashRewards card is rental car insurance. Simply decline the rental car provider’s offer and charge the full amount to your card and you’ll be covered by secondary insurance.
You can redeem your cash back for:
- Deposits directly into an NFCU banking account (best option)
- Statement credits
- Merchandise and gift cards
There’s no limit to the amount of rewards you can earn, and your cash back will never expire. Depositing your cash back directly into your NFCU bank account is going to be the best option. It’s quick and easy, and it’s money you can use right away.
The NFCU cashRewards card offers a pretty impressive set of perks for a card with no annual fee. The protection benefits could potentially save you some money in the right (or wrong) circumstances. However, you’ll get some variation in the perks for this card depending on what version you get: Visa, Visa Signature, Mastercard, or World Mastercard.
- Auto Rental Collision Damage Waiver: Decline the rental car provider’s insurance and charge the full amount to your card to get secondary rental car insurance.
- Cell Phone Protection: If your phone is damaged or stolen, you can be reimbursed depending on your card type if you pay your phone bill with the cashRewards card:
- Visa cardholders get up to $250 per claim two times per 12 months, with a $50 deductible, for lost, stolen, and damaged phones.
- World Mastercard users get up to $600 per claim two times per 12 months, up to $1,000 per 12 months, only for stolen and damaged phones.
- ID Navigator Powered by NortonLifeLock: Get alerts if your information is mentioned on the dark web or of any changes to your credit file. If your wallet is stolen, get help with cancelling and replacing your key documents like credit and insurance cards.
- Purchase Protection: Replace, repair, or get reimbursed for eligible purchases made within 90 days. Up to $500 per claim.
- Visa Concierge (Visa Signature): Call 1-800-953-7392 for help with non-emergency tasks like dinner reservations, entertainment tickets, and travel booking.
- Fine Wine and Food (Visa Signature): Gain access to special dining and wine events.
- Roadside Dispatch (Visa Signature): Run into car trouble? Get 24/7 access to services like towing and locksmith referrals.
- Travel and Emergency Assistance Services (Visa Signature): Get help finding medical, legal, and travel help while on the road.
- Travel Accident Insurance (Visa Signature): You and your family are protected against accidental death and dismemberment while traveling by common carrier, up to $250,000.
- Mastercard Airport Concierge: Get a 15% discount on Airport Meet and Greet services at over 700 locations worldwide.
- Mastercard Global Service: Call 1-800-307-7309 to report your credit card lost or stolen, cancel your account, and request a temporary card to be sent to you within 24 hours.
- Price Protection: If you find a lower price for an eligible item you’ve purchased within sixty days, you could be reimbursed for the difference.
- Purchase Assurance Coverage: Your purchases are covered against damage or theft for 90 days. $1,000 per incident, up to $25,000 per year.
- Extended Warranty: If a new, eligible purchase has a manufacturer’s warranty of twelve months or less, Mastercard will double it.
- Travel Assistance Services: Need travel advice? Call 1-800-307-7309 to learn about any travel requirements, like required documents, you may need for your destination, exchange rates, or required immunizations. This perk will also help locate lost or stolen travel material (luggage included), and provide emergency cash during a travel emergency.
- ShopRunner membership (World Mastercard): A ShopRunner membership provides unlimited two-day shipping and returns for purchases at over 140 online stores.
The Terms & Fees
|Purchase APR||Balance Transfer APR||Cash Advance APR|
|1.99% for 6 months, then 9.65% - 18.00% Variable||9.65% - 18.00% Variable||2% above your variable APR|
|Annual Fee||Foreign Transaction Fee|
|Balance Transfer Fee||Cash Advance Fee|
|Penalty APR||Late Fee||Returned Payment Fee|
|None||Up to $20||Up to $20|
The intro purchase APR for the cashRewards is a bit unusual. Many cards offer 0% purchase APRs for some period of time, but here you’ll get a rate above 0% — so we don’t recommend carrying a balance.
While there may be fewer fees here than with other cards, it’s still important to note there is a late payment fee and a returned payment fee. But as long as you’re paying off your statement balance in full each month, it shouldn’t be a problem.
Another great reason to pay off your statement balance each month is to take advantage of the credit card’s grace period. Grace periods help avoid unwanted interest charges.
The Bottom Line
The Navy Federal Visa cashRewards Card could be a good choice for Navy Federal Credit Union members. It’s a straightforward card with few fees, decent rewards, and some nice surprises sprinkled amongst its perks. However, you should also consider other flat-rate cards that offer more rewards, like the Citi® Double Cash Card – 18 month BT offer (Review).
No matter what type of card you’re issued (Visa or Mastercard) you’ll probably be happy with the benefits. World Mastercard owners will get a ShopRunner perk, for example, while Visa Signature cardholders can take advantage of the Concierge and get protected by Travel Accident Insurance.
It would be good to pair this card with another that earns higher rewards for specific purchases. You can see some of the best rewards credit cards right here. Or, check out some of the best credit cards for travel if you’re often on the road.
Having a flat-rate card plus a card that offers better rewards for a varied selection of purchases is a great way to maximize the return on your spending.
How Do I Apply For the Navy Federal Visa cashRewards Card?
Just follow the link below to be taken to the credit card issuer’s website where you can apply.
What Credit Scores Do I Need to Qualify For the Navy Federal Visa cashRewards Card?
You should have at least fair credit before applying for this Navy Federal credit card.
Having fair credit means your FICO score is at least 580, while your VantageScore 3.0 is at least 650.
However, issuers and lenders will take additional information into account when deciding your creditworthiness. The additional info includes income, and monthly mortgage or rent payments. That means even if your scores are lower than what’s recommended you could still be approved. But it also means you could be denied even if your scores are high enough.
Frequently Asked Question
What’s the difference between the Visa and Mastercard versions of the Navy Federal Visa cashRewards card?
The main differences are in the benefits that will come with the card. The Visa version will come with Purchase Protection, and if you’re issued a Visa Signature card, you’ll get the added perks of a Concierge, Travel Accident Insurance, and Roadside Dispatch.
The Mastercard version includes Extended Warranty protection and Travel Assistance Services. The World Mastercard version adds a ShopRunner membership.
Alternatives to the Navy Federal Visa cashRewards Card
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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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