If you’re a member of the Navy Federal Credit Union and are looking for a cash rewards program that is designed specifically for you, the Navy Federal Credit Union® cashRewards Credit Card could be a decent option offering 1.75% cash back if you have a direct deposit with Navy Federal.
This article will cover everything you need to know about this card to determine if you should add this card or a different card to your wallet. Let’s dive right in.
- Earn $250 bonus cash back when you spend $3,000 within 90 days of account opening.
- 1.75% Cash Back with Direct Deposit at Navy Federal.
- No Foreign Transaction Fees.
- No Annual Fee.
Welcome Bonus
The cashRewards Card currently offers the following welcome bonus:
Earn $250 bonus cash back when you spend $3,000 within 90 days of account opening.
Earning Rewards
No Annual Fee
The cashRewards Card has no annual fee.
Card Benefits
Below are the benefits and perks of the cashRewards card:
No Foreign Transaction Fees
This card has no foreign transaction fees on purchases outside the U.S., which is helpful if you travel internationally to help you avoid paying a 3% fee on those international purchases.
Secondary Rental Car Insurance
Secondary rental car insurance covers any damage to a rental car not covered by your primary insurance when you pay for the rental using this card.
Other credit cards offer primary rental car insurance, which pays before your insurance and saves you the hassle of filing multiple insurance claims.
You still need to maintain liability car insurance to cover damage to another person or property.
Redeeming Rewards
You can redeem your cashback rewards through these options:
Request a direct deposit of your cash back into your savings or checking Navy Federal bank account.
Have your cash back posted to your statement credit.
Pros and Cons
Here’s a quick overview of this card’s advantages and disadvantages:
Pros:
- No annual fee.
- No foreign transaction fees.
Cons:
- Only 1.75% cash back.
- Lack of many travel and purchase protections.
Alternatives to the cashRewards Card
Now that you know about this credit card’s various benefits and pros and cons, it’s time to see its alternatives.
Citi® Double Cash Card
Better for Cash Back
The Citi® Double Cash Card – 18 month BT offer boasts a strong 2% rewards rate on purchases, where you get 1% back when you buy and 1% when you pay.
This zero-annual-fee card offers a solid earning potential as long as you pay your balance on time, and it provides a simple way to rack up points with no bonus categories to track.
You can also boost your rewards by also holding the Citi Premier® Card (review), which allows you to transfer points to airline and hotel programs. This combination effectively allows you to earn 2 airline miles per dollar on all spending with the Citi Double Cash.
Bilt Mastercard®
Better for Travel and Dining
- Pay Rent Without Fees and Earn 1 Point Per Dollar on Rent (up to 50,000 Points Per Calendar Year)
- No Annual Fee
- 3x Points on Dining
- 2x Points on Travel
- Transfer Rewards to Airlines and Hotels
- Cell Phone, Primary Rental Car, and Trip Delay Insurance
Bilt Mastercard® is a no-annual-fee credit card that allows you to pay rent without a transaction fee and earn 1 point per dollar on rent (up to 50,000 points per calendar year).
You also earn 3x points on dining, 2x points on travel, and 1x points everywhere else.
The Bilt Rewards card also has great benefits for a no-annual fee card, including cell phone insurance, primary rental car insurance, 90-day purchase protection, trip delay insurance, trip cancellation insurance, and no foreign transaction fees.
Plus, you can transfer your points to airline and hotel partners such as United Airlines, American Airlines, and World of Hyatt. Or redeem the points for travel or at Amazon.
Is the cashRewards Card Worth it?
The cashRewards Card is generally not worth it for most people because there are better cards out there offering more rewards, such as the Citi® Double Cash Card – 18 month BT offer.
