Navy Federal More Rewards Amex Card 2021 Review

By | September 18, 2021

Navy Federal More Rewards Card is a tailor-made card that offers you a great range of Rewards. The Navy Federal More Rewards Card by American Express offers you a limitless range of 3 points per dollar when purchases are made at gas stations and supermarkets. It isn’t easy to find a low-interest rate credit card that offers you limitless rewards at this rate for shopping grocery and gasoline.

This card offers you three points on every dollar you spend on grocery, gasoline, dine-in, and transit. The transit spending category ranges from cab rides, tolls, railways, parking lots, bus rides, limos, etc. You are offered one point per dollar on expenses made at other purchases than the categories mentioned above.

You can redeem these reward points in the form of Cashback, gift cards, travel (including tours, hotels, car rentals, tourist attractions, special events, airlines, cruises, etc. These points are usually worth one cent each.

The card is available for people with a credit score to the excellent credit range, ranging from a FICO Credit Score of 580 and above. At first glance, it looks like the odds of approval for this card are relatively more than many credit cards, which require a FICO Score of 670 & above.
But there is a caveat to that. Like any credit union, the Navy Federal Credit Card has another credit union membership, which is the prerequisite for getting approved for this card. It is one of the main downsides of this card.

Suppose you are a retired member or currently working for the US armed forces or an employee who works for the US Department of Defense. In that case, it’s easier for you to qualify for the Navy Federal Credit Union. Even your family members (parents, siblings, spouses, grandparents, children, and grandchildren) will be eligible for the Navy Federal Credit Union Membership.


What’s Ahead

  1. Key Highlights
  2. Pros & Cons of Navy Federal More Rewards Amex Card
  3. Rates & Fees
  4. Why might you want to go for the Navy Federal More Rewards by American Express?
  5. Why might you want to go for some other card?
  6. What are the better alternatives to the-Navy Federal More Rewards Card?
  7. Navy Federal More Rewards Card Vs. Discover It Cash-back Card
  8. Navy Federal More Rewards Vs. Chase Freedom Flex
  9. Bottom-Line: Is Navy Federal More rewards good?
  10. Frequently Asked Questions

Navy Federal More Rewards Amex Card
Navy Federal More Rewards Amex Card

Key Highlights

  • 3x points on purchases made at superstores, restaurants, gasoline pumps, transit.
  • Never-ending rewards
  • $0 Annual Fee.
  • $0 Foreign Transaction Fee.
  • 0% introductory APR on Balance Transfer Fee is applicable for 12 Months
  • $0 Balance Transfer Fee
  • No 0% introductory APR is offered to the new reward cardholders.
  • Regular APR of 9.65%-18% is applicable.
  • Best Price Guarantee
  • Flexible Reward Redemption

Pros & Cons of Navy Federal More Rewards Amex Card

Pros

  • Welcome Bonus of $200
  • Endless Reward Earning Potential on your everyday purchases made by you
  • Flexible Reward Redemption Offers
  • Low Regular APR and Low Fee

Cons

  • No 0% introductory APR on purchases
  • Credit Union Membership Mandatory
  • Limited Acceptance Abroad

Full Review

Here are the full review about Navy Federal More Rewards Amex Card

Rates & Fees

TYPESRATES ($)
Joining FeesNil
Annual FeesNil
Balance Transfer FeesNil
Foreign Transaction FeesNil
Introductory APRNil
Regular APRVariable (9.65%-18%)

Why might you want to go for the Navy Federal More Rewards by American Express?

(1). $200 Welcome Bonus

The More Rewards card from Navy Federal offers you a solid sign-up bonus of 20,000 points on making purchases worth $2,000 (within the first three months of Account Opening). Each Navy Federal Credit Union point is worth one cent; this implies you get a welcome bonus of $200.

(2). Endless Reward Earning Purchases on all your everyday purchases

The More Rewards card is a unique reward card that enables you to earn eternal rewards on your everyday purchases. Since it offers you an unlimited 3x reward per dollar spent by you on making purchases at Grocery Stores, Gasoline Pumps, Restaurants, and Transit. Transit includes your bus rides, cab rides, parking lot fees.


On purchases made in categories other than the categories mentioned above, you earn 1x reward percent.

(3). Flexible Reward Redemption Offers

Navy Federal More Rewards offers you various rewards redemption options, including Cashback, Statement Credits, Gift Cards, Events Tickets, Merchandise. Moreover, you will still get the one cent per point redemption value on reward redemption using Cashback and Statement Credits.

The More Reward’s Card offers you extensive transportation rewards, which are extraordinary for a low-maintenance cost card.

(4). Low Maintenance Cost

Navy Federal More Rewards is a low-maintenance cost card that offers you a great range of rewards, making it a very competitive reward card. This card does not charge you any Annual Fee, Foreign Transaction Fee, Balance Transfer Fee.

However, it sets you the regular APR of 9.65%-18%, which is still relatively lower than other cards.

(5). American Express Perks

The More Rewards Card is a by-product of the collaboration of Navy Freedom with American Express, implying you are also offered the American Express Perks. These perks include the following:


A. As a cardholder of the American Express Card, you get early access to exclusive entertainment, including concert shows, sports, and other special events.


B. Warranty Extension extends the warranty of the eligible products purchased by you using this card.


C. Best Price Guarantee covers you. If you find a better price than the advertised price, you can request the Cashback, and you will get back the difference.


D. Retail Protection Policy covers you by providing coverage in case of loss or theft of the retail goods purchased by you within the three months of making the purchase.


C. Using this card, you can get a 10% discount on Delta Air Line flights on booking flights through the American Express travel website. You can also avail a discount of up to 25% on major car rental companies.


E. Car Rental Loss and Damage covers you in case of loss or theft of your car rental.


Why might you want to go for some other card?

(1). No 0% introductory APR on purchases

The Navy Federal More Rewards does not offer you a 0% introductory APR on purchases. Instead, it charges you the lower regular APR of 9.65%-18%, one of the lowest. Even though the regular APR is lower, you do not get a 0% introductory APR, which gives you respite from hefty interest rates on purchases made by you.

(2). Credit Union Membership Mandatory

To get approved for this card, a credit score of 580 and above is apt for qualification. But the only caveat to it is you are also required to be a Credit Unit member of Navy Federal.

To be a member of Navy Federal, you need to be an active service member or a retiree of the US armed forces (including Veterans, Army, Navy, Air Force, Coast Guard). Even the family members of the personnel mentioned above can qualify for this card.

(3). Limited Acceptance Abroad

More Rewards by Navy Federal offers you several AmEx perks provided by American Express, one of its core strengths. But there’s another aspect of the coin to be considered, which is Limited Global Acceptance.

As a cardholder of an AmEx card, you will be able to deal with a limited number of foreign merchants due to its comparatively lower acceptance all over the globe. On the other hand, Visa Card and MasterCard have worldwide acceptance. So, if you travel or migrate to another country for a job, you might stumble upon the limited acceptance issue.


READ MORE :- Alliant Cash Back Visa Signature Credit Card


What are the better alternatives to the Navy Federal More Rewards Card?

We have analyzed various cash cards that offer you a better value for your money, which include the following:

  • Discover It cash back Credit Card
  • Chase Freedom Flex

Here are the Quick Comparison of above card.

FEES & RATES Navy Federal More Rewards Card Discover It Cash back Card
Welcome Bonus/Sign-up Bonus $200 on spending $2,000 within the first three months of account, you are offered 20,000 points.Nil
Cashback Rewards3x points per dollar spent by you on purchasing Groceries, Gas, Restaurants, Transit, etc.)

1x points per dollar spent by you on all other purchases.
5% Cashback on purchases up to $1,500 made within the first three months of Account Opening,

then 1% unlimited Cashback is Applicable.
Intro APRNone0% for 14 Months
Regular APRVariable (9.65%-18%)Variable (11.99%-22.99%)
Annual FeeNilNil
Foreign Transaction FeesNilNil
Balance Transfer FeeNil5% of the total amount.

Lets check the above comparison in details.

Cashback Reward Rate

Navy Federal More Rewards offer you 3x points per dollar spent purchasing Gas, Groceries, Restaurants, and Transit. On other purchases made in different categories, you get 1x points per dollar. On the other hand, Discover It offers you a 5% consistent Cashback on purchases made up to $1,500 each quarter. Then onwards, you get an unlimited 1% Cashback.

Sign-up Bonus

Navy Federal offers you 20,000 points as you spend $2,000 within the first three months (One point is worth one cent), so you get $200. On the other hand, Discover It does not offer you a Sign-up Bonus.

Annual Fee

Both Navy Federal and Discover It do not charge you an Annual Fee.

Foreign Transaction Fee

Both Navy Federal and Discover It do not charge you any Foreign Transaction Fee.

Balance Transfer Fee

Navy Federal does not charge you any Balance Transfer Fee. On the other hand, Discover It has a balance transfer fee of 5% of the total amount.

Introductory APR

Navy Federal does not offer you an introductory APR. On the other hand, Discover It provides you with a 0% introductory APR for 14 Months.

Regular APR

Navy Federal charges you the Regular APR of 9.65%-18% (based on your Creditworthiness). On the other hand, Discover It charges you the Regular APR of 11.99%-22.99% (based on your Creditworthiness).


FEES & RATES Navy Federal More Rewards Card Chase Freedom Flex
Welcome Bonus/Sign-up Bonus $200 on spending $2,000 within the first three months of account, you are offered 20,000 points.$200 Cash Rewards Bonus on purchases worth $500 made within first three months of Account Opening
Cashback Rewards3x points per dollar spent by you on purchasing Groceries, Gas, Restaurants, Transit, etc.)

1x points per dollar spent by you on all other purchases.
Variable Cashback of 5% for TravelTravel, 3% for Dine-in, Drugstores, 1.5% on other purchases
Intro APRNone0% for 15 Months
Regular APRVariable (9.65%-18%)Variable
14.99 -23.74%
Annual FeeNilNil
Foreign Transaction FeesNil3%.
Balance Transfer FeeNil$5 or 5%, whichever is higher, is charged.

Cashback Reward Rate

Navy Federal More Rewards offer you 3x points per dollar spent purchasing Gas, Groceries, Restaurants, and Transit. On other purchases made in different categories, you get 1x points per dollar. On the other hand, Chase Freedom Flex offers you a variable Cashback of 5% on Travel Travel, 3% on Dine-in and Drugstores, 1.5% on all other purchases.

Sign-up Bonus

Navy Federal offers you 20,000 points as you spend $2,000 within the first three months (One point is worth one cent), so you get $200. On the other hand, Chase Freedom Flex offers you a sign-up bonus of $200 on spending $500 within the first three months of Account Opening.

Annual Fee

Both Navy Federal and Chase Freedom Flex do not charge you any Annual Fee.

Foreign Transaction Fee

Navy Federal does not charge you any Foreign Transaction Fee. On the other hand, Chase Freedom Flex charges you 3% of the Foreign Transaction Fee.

Balance Transfer Fee

Navy Federal does not charge you any Balance Transfer Fee. Chase Freedom Flex charges you $5 or 5% of the Balance Transfer Amount, whichever is higher is charged.

Introductory APR

Navy Federal does not offer you an introductory APR. Chase Freedom Flex offers you a 0% intro APR for 15 Months.

Regular APR

Navy Federal charges you the Regular APR of 9.65%-18% (based on your Creditworthiness). On the other hand, Chase Freedom Flex charges you the Regular APR of 13.99%-23.74%.

READ MORE :- U.S. Bank Cash Plus Visa Signature Card Review


Bottom-Line: Is Navy Federal More rewards good?

Navy Federal is a unique reward card that offers you some of the most distinctive rewards. It has a point-based reward system that rewards you 3 points spent while purchasing groceries, Gasoline, Restaurant Dine-in, and Transit.

It is a low-maintenance card that does not charge you any Annual Fee, Foreign Transaction Fee, and Balance Transfer Fee. It does not offer you an introductory APR, which means that you don’t get respite from interest rates on your initial purchases,

which can be a bummer for you. But at the same time, it also charges you one of the lowest Regular APRs ranging from 9.75%-18%.

It does not have one of the most accessible approval odds despite having a relatively lower credit score criteria of 580 & above. Since you are required to be an active serviceman or a retiree in the US Armed Forces and Federal Government, if you are the family member of an existing serviceman or a retiree, you can still be approved for the Navy Federal Credit Union.

Since it is an AmEx card, it offers you AmEx perks of Early Access to Entertainment, Purchase Protection, Best Price Guarantee, Warranty Extension. Additional AmEx perks include a 10% discount on Delta Air and a 25% discount on significant Car Rental Firms if the booking is made using the American Express Travel Website.

But the AmEx is not as widely accepted as a Visa Card or a MasterCard.

So, if you shop lots of Groceries, Gasoline, Dine-in at Restaurants and use bus rides and cab rides, it is one of the best reward cards since it offers you an unlimited 3x reward rate. The flexibility of Reward Redemption in the form of Cashback, Gift Cards, Merchandise, Statement Credits, etc.,

also adds to the quality of Customer Experience for you. Its low maintenance cost is another advantage for a Minimalist.

But if you prefer high cashback rewards on every purchase made by you, Discover It and Chase Freedom Flex are some of the better alternatives you should consider since both offer you 5% Cashback.

To avail of the highest Cashback of 5% at the lowest maintenance cost, you should use Discover It, which offers you a 5% Cashback and has a spending cap of $1,500 each quarter. Then, you earn a 1% cashback reward.

To avail of the highest Cashback of 5% while making relatively more considerable expenses, you should use Chase Freedom Flex that offers you a Variable Cashback of 5% on Travel-Travel, 3% on Dine-in, Drug-Stores, 1.5% on all other forms of purchases made by you.


Frequently Asked Questions

Here are the some of Frequently Asked Questions about Navy Federal More Rewards Amex Card.

  1. What Credit Score Do I need for Approval for Navy Federal More Rewards American Express Card?

    You are required to have an average to an excellent range of credit score of 580 and above for you to get approved for Navy Federal More Rewards American Express Card.

    However, you should note that your credit card isn’t the only thing taken into consideration. Your income details, existing details are also taken into consideration.

  2. How to redeem Cashback Rewards using Navy Federal More Rewards American Express?

    You can redeem your rewards in the form of Cashback, Merchandise, Event Tickets, Credit Statements, and Gift Cards.

  3. Is Navy Federal More Rewards a MasterCard, a Visa Card?

    Navy Federal More Rewards is an Amex Card, which is one of the most accepted cards globally. It adds to various travel perks (including the ease of Travel-Travel, Warranty Extension, Purchase Protection, Early access to entertainment services, etc.)

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