Why we like this card: With the Navy Federal Visa Signature® Flagship Rewards Credit Card, you can land a hefty welcome bonus and a high rewards rate on all purchases. Bonus: It only costs $49 a year.
- Decent welcome bonus
- No foreign transaction fee
- Solid rewards rates
- Modest annual fee
- Must be a credit union member to qualify
- No travel transfer partners
Navy Federal Visa Signature® Flagship Rewards Credit Card: Overview
- Intro: None
- Purchase: 15.24%–18.00% variable
- Balance transfer: 15.24%–18.00% variable
- Cash advance: 2% above your variable APR, plus a fee of $0.50 per domestic transaction or $1 per foreign transaction if it’s performed at a non-Navy Federal Branch or ATM
- Penalty APR: 18.00%
- Penalty fees: up to $20 for late and returned payments
Annual fee: $49
Foreign transaction fee: None
While you’ll need to be a Navy Federal Credit Union Member to be eligible for the Flagship Rewards card, the $49 annual fee on the card could be worth the cost, given the perks you’ll get. Cardholders receive a free year of Amazon Prime, a Global Entry or TSA PreCheck statement credit, travel accident insurance, plus great rewards rates.
And if you carry a balance on the card, you won’t have to pay a sky-high interest rate on your debt. The annual percentage rate (APR) is 15.24%–18.00% variable, below the average credit card APR.
Navy Federal Visa Signature® Flagship Rewards Credit Card: Points
The Navy Federal Visa Signature® Flagship Rewards Credit Card offers elevated rewards on all purchases: You’ll earn 3X points on travel and 2X points on everything else.
The travel spending category is comprehensive, too, so you can earn rewards on your commuting costs and some entertainment expenses. Cardholders can earn 3X points on airline, hotel, bus, taxis, transit, car rentals, ride-sharing services, museums, amusement park purchases, and more.
Does Navy Federal Visa Signature® Flagship Rewards Credit Card offer a new customer bonus?
The card offers a new customer bonus of 40,000 points when you spend $4,000 within 90 days of opening your account.
How to redeem Navy Federal Visa Signature® Flagship Rewards Credit Card points
There’s a fair amount of flexibility in redeeming your points with the Flagship Rewards card. You can use points to pay your annual fee, get cash deposited into your account, pay for previous transactions, and purchase travel or merchandise.
Earn cash back and cover past transactions
To get cash back, you must accrue at least 5,000 points worth $50 cash back (one point is equal to one cent). You can get your rewards directly credited to your Navy Federal savings account.
You can also use your points to pay for transactions posted to your account in the last 90 days. However, you can only use the Pay with Points redemption method on up to three transactions totaling at least $50.
Get an annual fee credit
If you want to reduce the cost of card membership, Navy Federal gives cardholders the option of using their rewards to cover the annual fee. You can redeem 4,900 points to get a credit that’s used as a refund for the annual fee.
Purchase travel, gift cards, and merchandise
You can use your points to pay for merchandise, hotel stays, car rentals, cruises, flights, and more.
- TSA PreCheck or Global Entry Statement Credit. When you pay the TSA PreCheck or Global entry fee with your card, you’ll get a $100 statement credit, which you’re entitled to every four years.
- Free year of Amazon Prime. To receive the annual Amazon Prime membership, just pay for the membership fee with your card, and you’ll be reimbursed with a statement credit.
- Collision Damage Waiver (CDW). If you rent a car for 15 days or less and use your card to pay for the rental, you’ll get CDW coverage, which kicks in if there’s physical damage and theft of the rental vehicle, reasonable towing charges, and more.
- Worldwide automatic travel accident insurance. If you and your dependent experience bodily injury or loss, you may be covered if you used your Flagship Rewards card to pay for the fare.
- Travel and emergency assistance. You can access emergency services 24/7, from medical referrals to lost luggage location services.
Is the Navy Federal Visa Signature® Flagship Rewards Credit Card right for you?
The Flagship Rewards Card is best for cardholders willing to pay a $49 fee for generous rewards, a big sign-up bonus, and useful travel-related perks. One major drawback is that you must be a Navy Federal Credit Union member to qualify.
Only armed forces service members, military family members, and Department of Defense employees are eligible for Navy Federal Credit Union membership, so this card might not be right for everyone.
Credit cards similar to Navy Federal Visa Signature® Flagship Rewards Credit Card
If you don’t want to become a Navy Federal Credit Union member, some cards, like the , offer similarly competitive rewards rates and many perks with no credit union membership required.
Capital One Venture Rewards vs. Navy Federal Visa Signature® Flagship Rewards Credit Card
The Capital One Venture Rewards Credit Card comes with a more expensive price tag than the Flagship Rewards Card: The annual fee is $95, nearly twice the price of the Flagship Rewards Card.
Though the Venture Rewards miles rates are less generous than those offered by the Flagship Rewards Card, Venture One Rewards cardholders can still earn decent rewards—you’ll earn 2x miles on every purchase and 5x miles on hotels and rental cars booked through Capital One Travel.
The Venture Rewards, however, edges out the Flagship Rewards card when it comes to the welcome bonus. New Venture Rewards cardmembers can earn a welcome offer that’s twice as large as the Flagship Rewards bonus and has an identical spending requirement.
Venture Rewards cardholders earn 75,000 miles after spending $4,000 on purchases within three months from account opening.
Plus, when you redeem your Capital One miles, you can transfer them to one of Capital One’s travel partners, use them to cover travel costs, book a trip through Capital One Travel, get a statement credit or check, and even pay for Amazon.com purchases.
Frequently asked questions
What credit score is needed for Navy Federal Flagship card?
You’ll need a good credit score or better to qualify for the Navy Federal Flagship Card. This means you should aim for a FICO score of 690 or higher.
Is the Navy Federal Flagship card worth it?
The Navy Federal Flagship Card has a $49 annual fee, which would be worth the cost if you want travel-related perks and the ability to earn rewards on travel and other purchases.
How do you increase your Navy Federal Flagship credit line?
To request a credit limit increase, you can send a secure message through online banking or call Navy Federal Credit Union. You should have your employment, income, and housing information on hand when you make your request.
Please note that card details are accurate as of the publish date, but are subject to change at any time at the discretion of the issuer. Please contact the card issuer to verify rates, fees, and benefits before applying.
Fortune Recommends™ credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.