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The Navy Federal Credit Union recently launched five new promotional offers offering opportunities to earn rewards points and cash back, among other benefits, to help its members get their finances in order this summer.
Here, Select details the five latest offers from the popular credit union — and what you need to know about credit union credit cards.
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Navy Federal Credit Union Credit Card Welcome Offers
The NFCU is known for offering user-friendly financial products to members of checking accounts to mortgages and car loans. To become a member of the NFCU, you must be a veteran, have current ties to the Armed Forces, National Guard, or Department of Defense, or have an immediate family member in the Federal Navy. The latest offers are:
This offer, available until August 31, allows new cardholders to earn 30,000 points, representing a value of $300, after spending at least $3,500 within 90 days of opening your account. There is also an initial APR of 1.99% for purchases made with the card in the first six months (after, variable from 10.24% to 18.00%).
Among other benefits, such as the ability to earn 3X reward points on travel-related purchases and 2X points for everything else, if you purchase a one-year Amazon Prime membership (current value $139), Navy Federal Credit Union will reimburse the cost. If you already have Prime and use your Flagship Rewards credit card to renew your annual subscription, NFCU will credit your account.
This card is ideal for those with very good to excellent credit who want to maximize travel rewards. Note that this card comes with a modest annual fee of $49.
New cardholders have access to an introductory APR of 1.99% on balance transfers and purchases made with the card for six months after account opening with this offer, which expires August 31 (after 9 .90% to 18.00%, variable).
With no annual fee, this rewards card is ideal for those with average to excellent credit who want to earn 3X points on meals, gas and public transit, as well as at restaurants and with certain food delivery services. food (and 1X points for everything else).
You can earn $100 in bonus cash back after spending $2,000 within 90 days of joining the card and enjoy an introductory APR of 1.99% on purchases for the first six months after signing up. account opening (after, 10.40 to 18.00%, variable) – as long as you take advantage of this offer by October 31.
This card with no annual fee is best for those with average to excellent credit who want to earn cash back on everyday spending – 1.75% cash back for members with direct deposit or 1.5% cash back in cash for those without direct deposit.
New cardholders taking advantage of this offer, which expires August 31, can take advantage of its introductory 0% APR to make major purchases within the first 12 months of opening your account – or transfer their balances non-Navy Federal Credit Union within the first six months to receive the same benefit (thereafter, 6.74% to 18.00%, variable).
There is no annual fee, making this card ideal for those with average to excellent credit, anyone with large purchases to pay off, and cardholders who appreciate low introductory interest rates. especially when it comes to balance transfers.
You can earn 20,000 rewards points – worth $200 and redeemable for travel, cash, merchandise or gift cards – after spending $2,000 within the first 90 days account opening. The card also offers an APR of 9.24% to 18.00%. Note that this promotion ends on August 31.
There is no annual fee for this card, which is best for those with average to excellent credit. Cardholders can earn 3X points at restaurants, 2X points for gas, and 1X points for all purchases made with the card, making it ideal for those with busy lives who like to dine out.
What to consider when looking for credit union credit cards
Your financial goals
Do you hope to minimize your interest rates? Do you plan to travel or shop a lot in just 2022 and want to save on those costs? Or do you just want to be able to spend more money?
Whatever your goals: Understanding both your overall financial situation and your budget is key to determining where you are in relation to your financial milestones. Depending on your short-term and long-term goals, you should choose a card that best fits those goals.
Travel rewards or cash back
Most credit cards offer either travel rewards points or cash back as an incentive to spend on the cards. However, it is important to consider your current financial situation to decide what is best for you.
Consider looking outside your checkout
If you are currently a member of a credit union, you are not required to use only its own financial products. In fact, a different card might suit me better for you.
Many major banks offer credit cards with huge welcome bonuses. For example, the Capital One Venture Rewards credit card currently offers a welcome bonus of 75,000 miles after spending $4,000 on purchases within 3 months of opening the account. These miles are worth $750 for travel purchases from your statement, or even more when transferring your miles to one of Capital One’s airline or hotel partners.
Capital One Venture Rewards credit card information was independently collected by Select and was not reviewed or provided by the card issuer prior to publication.
Editorial note: Any opinions, analyses, criticisms or recommendations expressed in this article are those of Select’s editorial staff only and have not been reviewed, endorsed or otherwise endorsed by any third party.