Navy Federal Go Rewards Cards Offering Summer Sign-Up Bonus Worth $200
Update: Some offers mentioned below are no longer available. View the current offers here.
Popular amongst service members and veterans from all branches, Navy Federal Credit Union has announced a limited-time summer bonus on the Navy Federal Go Rewards credit cards, available in both Visa Signature and MasterCard flavors. Let's take a look at the cards' features and decide if the product is something you should consider adding to your rewards portfolio over the next few months.
Navy Federal Eligibility
Even though the credit union boasts the name of the greatest branch of service, Navy Federal Credit Union is not only open to the Navy. If you've ever been affiliated with any branch of the armed forces including the Coast Guard or worked for the DoD, you and your family within one generation of you are eligible for membership. Membership is free, and you simply have to fill out an online application.
Go Rewards Credit Cards
In June and July, the NavyFed Go Rewards credit cards are offering 20,000 bonus points after you spend $3,000 in the first 90 days of cardmembership. There are Visa Signature and MasterCard versions — both offer the same features. Important to note: Your credit line upon approval must be at least $5,000 to qualify for these cards otherwise you will receive the Visa Go Rewards Card or Platinum MasterCard, which have different features than the Visa Signature and MasterCard versions.
The cards earn 3 points at restaurants, 2 points on gas and 1 point on all other spend with no limit on the number of points you can earn or the number of points you can redeem. Points are worth a flat 1 cent each when redeemed toward cash back or travel. You can begin redeeming once you have 1,000 points, and your rewards will expire four years from the date they are earned.
Perhaps best, the cards have no annual fee, no foreign transactions fees and no balance transfer fees.
Analysis
The one benefit the Go Rewards Visa Signature and MasterCard offer that make them stand out is a $200 (20,000-point) sign-up bonus for no annual fee. The 3x and 2x reward multipliers are nice, but I'd likely be using my Chase Sapphire Preferred or Chase Sapphire Reserve on those expenses to earn more valuable Ultimate Rewards compared to the flat 1% cash back Go Rewards currency. That said, not everyone can qualify for premium cards given the average American's credit portfolio.
Navy Federal says only "good" credit is required to be approved for these cards, making them a great stepping stone into the points and miles world while avoiding fees. If you're on your way to building up your credit and want essentially a no-cost mechanism to earn rewards, the Go Rewards cards can make sense for you. Ensure you pay off your balance every month.
Other rewards cards with no annual fee include the Discover it Miles Travel Card, the Wells Fargo Visa Signature Card, the Chase Freedom (No longer open to new applicants) and the Chase Freedom Unlimited. However, none of those options match the no foreign transaction, no balance transfer fee and $200 sign-up bonus of the Go Rewards cards.
Bottom Line
If you're eligible to join Navy Federal Credit Union, this card represents an easy $200 bonus with no annual fee. This card makes sense to me as I try and build my portfolio with NavyFed to become eligible and targeted for some of its other banking services, which often come much cheaper than the products big national banks offer. I also like diversifying the banks I open credit with and not repeatedly opening credit with only the largest two or three.
I also don't mind putting another $200 in the pockets of my wife and I. This will cover many of our incidental expenses on trips, making the vacation as close to free as possible. Navy Federal has done a lot to help many of my sailors and Marines over the years, so I'm happy to give it more business.
What are your thoughts on the Go Rewards cards?
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| 4X | Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 4X | Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 5X | New! Earn 5X Membership Rewards® points on prepaid hotel stays booked through AmexTravel.com or the Amex Travel App. |
| 3X | Earn 3X Membership Rewards® points on flights booked through AmexTravel.com, the Amex Travel App, or purchased directly from airlines. |
| 2X | Earn 2X Membership Rewards® points on prepaid car rentals booked through AmexTravel.com or the Amex Travel App and cruises booked and paid through AmexTravel.com. |
| 1X | Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases. |
Pros
- Valuable dining and food-related credits
- Flexible rewards with airline and hotel transfer partners
- Multiple travel and purchase protections
- No foreign transaction fees
- Access to Amex Offers for additional savings (enrollment required)
Cons
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber and other dining credits
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $8,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- New! Earn 5X Membership Rewards® points on prepaid hotel stays booked through AmexTravel.com or the Amex Travel App.
- Earn 3X Membership Rewards® points on flights booked through AmexTravel.com, the Amex Travel App, or purchased directly from airlines.
- Earn 2X Membership Rewards® points on prepaid car rentals booked through AmexTravel.com or the Amex Travel App and cruises booked and paid through AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- Pay It® lets you tap in the American Express® App to quickly pay for small purchase amounts throughout the month and still earn rewards the way you usually do. Plan It® gives you the option to split up big purchases into equal monthly payments with a fixed fee. You’ll know upfront exactly how much you’ll pay.
- Updated! $120 Dining Credit: Earn up to a total of $10 in statement credits monthly when you pay with the Gold Card at Grubhub (including Seamless), Buffalo Wild Wings, Five Guys, The Cheesecake Factory, and Wonder. This can be an annual savings of up to $120. Enrollment required.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year at over 10,000 qualifying U.S. Resy restaurants after you pay for eligible purchases with the American Express® Gold Card. That’s up to $50 in statement credits semi-annually. Enrollment required.
- $84 Dunkin' Credit: Earn up to $7 in monthly statement credits after you pay with the American Express® Gold Card at U.S. Dunkin’ locations. Enrollment required.
- $120 Uber Cash on Gold: Enjoy up to $120 in Uber Cash annually with your Gold Card. Just add your Card to your Uber account and you'll get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an Amex Card for your transaction.
- New! As an American Express® Gold Card Member, you can enjoy complimentary Hertz Five Star® Status. Enjoy benefits like skipping the counter at select locations, adding an additional driver at no additional cost*, and vehicle upgrades**. Benefit enrollment and Hertz Gold+ registration are required. *Additional drivers must meet standard rental qualifications and must be a spouse or domestic partner to qualify as complimentary. Other additional drivers subject to fees. **Benefits are subject to availability and vary by location. Additional Hertz program Terms and Conditions including age restrictions apply.
- Take advantage of a $100 credit towards eligible charges* at over 1,300 upscale hotels worldwide when you book The Hotel Collection through AmexTravel.com or the Amex Travel App **. *Eligible charges vary by property. **The Hotel Collection requires a two-night minimum stay.
- Book your travel through the Amex Travel App with added peace of mind – backed by American Express® service and support. Only for American Express® Card Members.
- Whenever you need us, we're here. Our Member Services team will ensure you are taken care of. From lost Card replacement to statement questions, we are available to help 24/7.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.