Navy Federal to Launch New Rewards Credit Card in the Fall
Navy Federal Credit Union and American Express have partnered to create a rewards credit card for new and existing accountholders. The Navy Federal More Rewards American Express Card is scheduled to be released this fall, though there is not yet a specific launch date.
Navy Federal already offers a suite of MasterCard and Visa rewards cards, including cashRewards, GO REWARDS, and the Visa Signature Flagship Rewards card. They even offer a rewards program for a secured credit card, which is not common in the industry. Most secured cards are designed to help people with poor or bad credit increase their credit scores, so they typically include few, if any, extra features.
The details of the rewards program have not been released, but Navy Federal is planning on introducing the card before the holiday shopping season.
Matt Freeman, head of the credit card department for Navy Federal, said the rewards program will be geared toward everyday purchase. “With a simple, easy-to-understand rewards programs and superior service, this Card is an excellent complement to our host of rewards cards.”
Most of the credit union’s other rewards cards offer one to three points per $1 spent on the card, and the points can be used for cash back, travel expenses or gift cards. The Visa Signature Flagship Rewards card is the only Navy Federal credit card with an annual fee ($49), and none of their cards have foreign transaction fees or balance transfer fees.
Once the card makes its official debut, consumers can apply online, on the phone, or in person at a Navy Federal Credit Union branch.