Navy Federal cashRewards Card Review | $100 Cash Back Bonus

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The Navy Federal Visa cashRewards Card is an excellent starter credit card for military servicemembers or their spouses.

navy federal cashrewards credit card for military
  • Learn how to apply for the Navy Federal cashRewards Card
  • You can save with a low 1.99% intro APR for 6 months from account opening on purchases. After that, a variable APR between 11.90% and 18% applies.* Plus, you can earn $100 cash back when you spend $2,000 within 90 days of opening a cashRewards account.
  • 1.75% cash back on purchases if you have direct deposit at Navy Federal, otherwise 1.5% cash back on purchases
  • Easy cash back redemption on our mobile app. Message and data rates may apply. Terms and conditions are available, see rates and fees.
  • $500 to $1000 per year of cell phone coverage with a $50 deductible
  • Pay no annual, balance transfer, or foreign transaction fees.*
  • Terms Apply, read the full review of the Navy Federal cashRewards card

You can be approved for the card with average credit, usually with a FICO score of 630 or greater. Learn how to check your credit score for free. The low credit score requirement makes it an easier card to open for younger servicemembers.

You can start earning rewards for your normal spending and build your credit at the same time.

This card has no annual fee, making it a great first starter card to build your credit on. You can leave this card open forever and age your credit history.

Welcome Bonus

The welcome bonus for the cashRewards is a $100 cash back bonus when you spend $2,000 in 90 days of account opening.

Up to 1.75% Cash Back

A 1.5% cash back rate is pretty good and compares to the Chase Freedom line up of cards. You can earn up to 1.75% cash back if you have a direct deposit at Navy Federal.

No Foreign Transaction Fees

No foreign transaction fees is an essential feature of your credit cards when you serve overseas in the military. If you are stationed overseas or ever travel overseas TDY/TAD or on a deployment, you will want a card without foreign transaction fees.

These fees can sometimes be as high as 3%. If you spend $1000 overseas on a trip, you'll save $30 with a no foreign transaction fee card.

Who Should Apply for the NCFU cashRewards Credit Card

If you're just starting out on your military travel hacking adventure, you need to build your credit with a no annual fee card. Check out my strategy for best military credit cards in this article. The first step is opening a no annual fee cash back card so you can start building your credit and become eligible for the more exotic travel rewards cards.

You can learn all about military credit cards and how to maximize your benefits in my 100% free online course. Learn how to sign up for the military travel hacking course here.

Building your credit score with a no annual fee credit card is the first step to reaping the lucrative military credit cards benefits available. If you are new to credit cards or new to the military, a no annual fee card from Navy Federal is a great place to start.

As an NFCU member, you can Pre-Qualify for this card. This allows you to check you eligibility for the credit card without submitting a credit report check. A Pre-Qualify check does not affect your credit score.

NFCU Membership Eligibility

Navy Federal Credit Union, or NFCU, has been serving members of the military and their families for nearly 90 years. NFCU offers financial and banking products at competitive rates and fees. Free checking accounts and early direct deposit of military paychecks are some of the benefits available.

To become a member, you or one of your family or household members must have ties to the armed forces, DoD or National Guard. Servicemembers and immediate family are all eligibility for Navy Federal membership.

Servicemembers in all branches of the armed forces are eligible for membership. This category includes: Active Duty members of the Army, Marine Corps, Navy, Air Force, Coast Guard, National Guard and Space Force, Delayed Entry Program (DEP), DoD Officer Candidate/ROTC, DoD Reservists, veterans, retirees and annuitants.

Eligible immediate family members include: Parents, Grandparents, Spouses, Siblings, Children (including adopted and stepchildren), Grandchildren, and Household members.

NFCU Credit Card Features

All NFCU credit cards include:

  • 24/7 Access to US based member reps
  • No balance transfer or foreign transaction fees
  • Ability to freeze and unfreeze your cards online
  • Zero Liability policy for unauthorized transaction
  • Fraud notifications
  • Access toy our FICO Score

Other Navy Federal credit cards include the cashRewards credit card, Navy Federal Platinum credit card, Navy Federal GO REWARDS® Credit Card, and the NFCU Visa Signature® Flagship Rewards Credit Card.

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