Credit Cards Tips for You

Credit unions don’t get nearly enough love.  More often than not, credit unions offer lower loan rates, higher savings interest rates, and occasionally even excellent rewards programs on credit cards.  They also tend to have better customer service and provide all-around more pleasant experiences to their members.  The problem is that they are often non-profits, and don’t have the advertising bucks that their bigger bank competitors wield, so you’ve probably never heard of most of them.

Navy Federal Credit Union is the largest credit union in the world, and anyone who serves in the US military, or is peripherally employed by the Department of Defense in any way, shape, or form, is eligible.  Retirees and family members are also eligible, so if anyone in your family is current or ex-military, or even a civilian employee of the DoD, you may be able to join it’s other 3.4 million members and take advantage of their military-specific deals on credit cards and other financial products.

Here’s our breakdown of the best credit card deals offered by NavyFed.

Best Rewards: NavyFed Flagship Rewards

Flagship Rewards

For rewards, your best bet is the Flagship Rewards card.  This card pays 1 point per $1 spent, but then 15,000 points can be redeemed for $300 airline tickets, making it effectively a 2% travel rewards card, similar to the Discover Escape or Capital One Venture card.  The big difference here is that this card offers APRs as low as 9.99%, while the Escape starts at 10.99%, and the Venture at 13.9% (as of writing).  If travel rewards aren’t your thing, cash and gift cards can also be redeemed, though only at a 1-1.5% reward rate.

Best Low Interest Card: Platinum from NavyFed

Platinum Card

The Platinum from Navy Federal Credit Union ranks as one of our best low APR cards overall, with rates starting at 7.99%.  Only a few cards can beat that, and they are all offered by small regional banks like Zions Bank, Simmons First, and Iberiabank.

Best for Business: Business Card from NavyFed

Business Card

The aptly-named Business Card from Navy Federal Credit Union offers a much lower APR than most small business cards we track, starting out at 9.15% (as of writing), plus it offers a reasonable rewards program.  By signing up for Visa EXTRAS, you can earn 1% rewards for your first $4,000 of spending each year, then 2% for every dollar beyond that.  This isn’t quite as lucrative as deals like the Ink Cash from Chase, but if your business carries a balance month-to-month for cash flow management, you can’t beat this.

Best Secured Card: NavyFed nRewards Secured

nRewards Secured

Finally, in the secured card category, Navy Federal offers hands-down the best option amongst the cards that we track with the nRewards Secured.  Unlike most secured cards, this card has no annual fee and no balance transfer fees.  And with the nRewards program, you can even earn 1% back on all purchases while building your credit.  That makes this one of the few secured cards we’ve seen that rewards you for rebuilding your credit, rather than simply punishing you with a constant barrage of fees.

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