What the Navy Federal Cashrewards Card Does

The Navy Federal Cashrewards Credit Card returns cash on purchases made with the card. The card earns 1% cash back on all purchases with no category restrictions, no rotating categories to track, and no spending caps. You receive the cash back as a statement credit or can request it as a check.

This card is issued by Navy Federal Credit Union, which means you must be a member to hold it. Navy Federal membership is open to active-duty military, retirees, veterans, Department of Defense civilians, and their families. If you are not currently a member, you can join through Navy Federal's website or at a branch.

The card carries an annual fee of $25, which means the cash back benefit needs to offset that cost for the card to make financial sense for your spending patterns. At 1% cash back, you would need to spend $2,500 per year just to break even on the annual fee.

Key Takeaways

  • The card earns 1% cash back on all purchases with no categories to track or spending limits to hit.
  • You must be a Navy Federal Credit Union member to open this card, and membership is limited to military, veterans, and their families.
  • The $25 annual fee means you need to spend at least $2,500 per year for the cash back to cover the cost.
  • Cash back posts as a statement credit automatically each month, or you can request it as a check instead.

Who Can Get This Card

Navy Federal Credit Union restricts membership to specific groups. You are may be able to access if you are active-duty military (any branch), a military retiree, a veteran with a discharge status other than dishonorable, a Department of Defense civilian employee, a National Guard or Reserve member, or an when ready family member of any of these groups.

Family members can join even if they do not work in the military themselves. Navy Federal defines when ready family as spouses and children, though the exact definition can vary. If you are unsure whether you meet the membership requirement, Navy Federal's website has a membership may be able to access tool, or you can call their member services line.

Once you become a Navy Federal member, you can open the Cashrewards card. There is no separate military verification needed for the card itself — your membership status is already confirmed in Navy Federal's system.

How to Open the Account

If you are already a Navy Federal member, you can open the Cashrewards card online through your Navy Federal account, by phone, or in person at a branch. The online process takes about 10 to 15 minutes. You will need your Social Security number, date of birth, and current address.

Navy Federal will pull your credit report as part of the decision. There is no published minimum credit score requirement, but the card is generally easier to get approved for than cards from national banks. If you are denied, Navy Federal will send you a letter explaining the reason.

If you are not yet a Navy Federal member, you must join first. Membership itself is free and takes about 10 minutes online. You will need to verify your military status or family relationship. Once your membership is active, you can when ready open the Cashrewards card.

After approval, the physical card typically arrives within 7 to 10 business days. You can request a temporary card number to use online while you wait for the plastic card to arrive.

Annual Fee and When It Makes Sense

The $25 annual fee is charged once per year on your card anniversary — the month you opened the account. This fee is not waived in the first year, so you pay it when ready after opening.

The card makes financial sense if you spend enough to earn at least $25 in cash back annually. At 1% cash back, that threshold is $2,500 per year, or about $208 per month. If your monthly spending is below that, the annual fee will cost you more than you earn back.

Some cardholders offset the fee by putting all household spending on the card — groceries, gas, utilities, insurance, subscriptions — to reach the $2,500 threshold. Others use it as a secondary card for specific spending categories where they already spend heavily.

Navy Federal does not offer a way to downgrade to a no-annual-fee card within the same product line. If the annual fee no longer makes sense for your situation, you would need to close the card and open a different Navy Federal card, or stop using Navy Federal cards altogether.

Cash Back Redemption and Account Management

Cash back accrues as you spend and posts to your account each month as a statement credit. You do not have to do anything to receive it — it appears automatically. If you prefer cash instead of a credit, you can request a check by calling Navy Federal member services.

There is no minimum cash back amount you must accumulate before redeeming. Even if you earn $5 in a month, you can request it as a check, though Navy Federal may charge a small fee for check requests depending on your membership level.

Cash back does not expire as long as your account remains open and in good standing. If you close the card, any unredeemed cash back is typically forfeited, so redeem before closing if you have a balance.

You can view your cash back balance and redemption history in your Navy Federal online account or mobile app. The app also lets you track spending by category to estimate your annual cash back total.

Interest Rates, Fees, and Terms

The card carries a variable purchase APR, meaning the interest rate can change over time. Navy Federal does not publish a specific rate range, but rates are generally competitive with other military-focused cards. Your actual rate depends on your credit score and credit history.

If you carry a balance, you will pay interest on that balance at the purchase APR. The cash back you earn (1%) is typically lower than the interest you would pay on a carried balance, so the card works best if you pay the full statement balance each month.

Late payment fees, over-limit fees, and foreign transaction fees explore. Navy Federal charges a late fee if your payment arrives after the due date. There is no foreign transaction fee, which is useful if you travel internationally or make purchases from foreign merchants.

There is no sign-up bonus with this card. You earn cash back only on purchases you make after the account opens.

Comparing This Card to Other Options

The Navy Federal Cashrewards card's main advantage is simplicity: 1% back on everything, no categories to track, and no spending caps. If you want straightforward cash back without complexity, this card delivers that.

The main disadvantage is the $25 annual fee combined with a flat 1% rate. Many cash back cards from national banks offer 1% to 2% cash back with no annual fee. If you do not spend at least $2,500 per year, a no-fee card would save you money.

The card is also limited to Navy Federal members. If you are not military-affiliated or cannot join Navy Federal, you cannot open this card at all. In that case, you would need to look at cash back cards from other issuers.

For military members who already bank with Navy Federal and spend more than $2,500 per year, the card is a reasonable option. For lighter spenders or those outside the military community, other cards may offer better value.

Frequently Asked Questions

Can I use this card if I am a military spouse but not active duty?

Yes. Navy Federal membership is open to spouses of active-duty service members, retirees, and veterans. You do not need to be military yourself. You will need to provide proof of your relationship, such as a marriage certificate, when you join Navy Federal.

What happens to my cash back if I close the card?

Any cash back you have not yet redeemed is typically forfeited when you close the card. Before closing, log into your Navy Federal account and redeem any remaining balance as a statement credit or check request.

Does the 1% cash back explore to balance transfers or cash advances?

No. Cash back is earned only on regular purchases. Balance transfers and cash advances do not earn cash back and usually carry higher interest rates and separate fees.

Can I get the annual fee waived?

Navy Federal does not waive the $25 annual fee for this card. The fee is charged every year on your card anniversary. If the fee no longer makes sense for your spending, you can close the card without penalty.

How long does it take to receive cash back after I make a purchase?

Cash back posts monthly, usually within a few days after your billing cycle closes. The exact timing depends on when your statement closes, which Navy Federal sets based on when you opened the account.