Navy Federal Credit Union is ramping up the competition in the rewards credit card space by introducing four new credit card promotions this week. The cards, designed for different uses and different consumers, all offer rewards of some kind.
The Navy Federal Visa Signature Flagship Rewards card provides 50,000 bonus points -- which translates to a $500 value -- to new cardholders who spend at least $4,000 within 90 days of opening the account.
It could be a good choice for consumers preparing to make a major purchase that would get them over the $4,000 threshold. It’s also good for frequent travelers because it offers three times the points on travel expenses and two times the points on all other purchases.
While that can be attractive for frequent travelers, there is a $49 annual fee. But cardholders can receive a statement credit of up to $100 for Global Entry or TSA Pre-check.
The interest rate on balances ranges from 11.49 percent to 18 percent, and the offer is good through the end of April.
For groceries, gasoline, and restaurants
The Navy Federal More Rewards American Express Card has a lower spending threshold. Spend just $3,000 within 90 days of opening the account and you’ll get 25,000 bonus points worth $250.
The card pays three times the points for purchases at supermarkets, for gasoline and transit, and at restaurants. It pays one times the points on all other purchases.
There’s no annual fee, and the interest rate on balances ranges from 11.15 percent to 18 percent. The credit card offer is good through the end of August.
Navy Federal’s Cash Rewards card pays cardholders $150 cashback if they spend at least $3,000 within the first 90 days of account activity.
They’ll also get an interest rate of 1.99 percent on purchases for the first six months, making it an attractive tool for consumers who need to finance a major purchase for a short period of time.
After the introductory period, the rate ranges from 11.15 percent to 18 percent. There is no annual fee, and the offer is good through June.
Balance transfer at 0 percent
The Navy Federal Platinum card isn’t technically a rewards card; it’s a balance transfer card. However, these kinds of cards can sometimes be the most rewarding.
New cardholders are eligible for a 0 percent introductory rate on balance transfers for 12 months after opening the account with no balance transfer fee. After that, the rate ranges from 7.49 percent to 18 percent.
There is no annual fee and the offer is good through the end of December.