Navy Federal Upgrades cashRewards Credit Card, Allowing Members to Earn Up to 1.75% Cash Back on Their Everyday Purchases

New cardholders will be greeted with $250 bonus cash back after $2,500 spend

VIENNA, Va.--(BUSINESS WIRE)--Navy Federal Credit Union today announced an upgrade to its cashRewards credit card, giving new and existing cardholders more cash back on every purchase. The credit card will now offer unlimited 1.75% cash back on every purchase for cardholders who maintain direct deposit at Navy Federal. Additionally, new cardholders who spend $2,500 within 90 days of opening an account will receive $250 bonus cash back.

“When it comes to ease and flexibility of use, nothing beats the simplicity of the cashRewards card,” said Justin Zeidman, head of credit card products at Navy Federal. “With this upgrade, we give members the opportunity to earn even more cash back on all their purchases and further demonstrate the value that comes from making Navy Federal their trusted financial partner.”

The enhanced earn rate is applied automatically for cardholders with direct deposit, and members will earn cash back at a rate of 1.75% for as long as they maintain their direct deposit at Navy Federal. Otherwise, cardholders will continue to earn the previously offered unlimited 1.5% cash back. New and current cardholders without direct deposit can qualify for the 1.75% earn rate by simply moving their direct deposit to Navy Federal. Additional features and benefits of the cashRewards card include:

• No annual fee
• No balance transfer fee
• No foreign transaction fees
• No cash advance fees
• Variable APR between 9.65% - 18.00%
• Free credit score access
• No rewards limit or expiration while account is open
• Collision damage waiver
• Cell phone protection

Members can apply for the card online, through the mobile app,* by calling the 24/7 contact center or visiting a Navy Federal branch.

About Navy Federal Credit Union: Established in 1933 with only seven members, Navy Federal now has the distinct honor of serving over 10 million members globally and is the world’s largest credit union. As a member-owned and not-for-profit organization, Navy Federal always puts the financial needs of its members first. Membership is open to all branches of the armed forces and their families. Dedicated to its mission of service, Navy Federal employs a workforce of over 19,000 and has a global network of 347 branches. For more information about Navy Federal Credit Union, visit navyfederal.org. Federally insured by NCUA. Equal Opportunity Employer.

*Message and data rates may apply. Terms and Conditions are available.