The Navy Federal Credit Union (NFCU) More Rewards credit card is an uncomplicated card which earns 3% cash back in popular categories. It’s a solid low-maintenance card which most people will find good for everyday spending. it may not have perfect earn rates, but More Rewards has multiple earning categories and great benefits.
FEATURES AT A GLANCE
- No annual fee
- No foreign transaction fees
- 3x points on groceries
- 3x points on gas
- 3x points on transit
- 3x points on dining
- 1x points on everything else
SIGN UP BONUS
As of May 2023, you can earn 25,000 bonus points ($250) for spending $3,000 within 90 days of opening the account. It might be best to wait for a better offer. The sign-up bonus (SUB) for More Rewards varies between $200 and $300, after spending between $2,000 and $3,000 in three months.
$200 is a fairly standard bonus for no-fee cards, but the spend requirement is usually $500 to $1,000. For anyone who mostly wants the sign-up bonus on More Rewards, other cards are easier options. The More Rewards card only has an 8.33% RoS (Return on Spend). It’s unattractive compared to cards with a 20-40% return.
More Rewards sometimes has a 0% intro APR on balance transfers for 12 months. Usually balance transfers are a bad idea, except NFCU doesn’t have balance transfer fees. This can be good for extending a 0% APR deal from another card.
OTHER BENEFITS OF THE CARD
- No balance transfer fees
- Travel assistance/referrals through calling AXA Assistance
- “Receive a discount of up to 10% on select Delta Air Lines flights when you book through the American Express travel site.” and other potential discounts.
- Retail Protection (protects against damage or theft for 90 days)
- Return Protection (may reimburse non-returnable items)
- Price Protection / Best Value Guarantee (reimbursement if you find a lower price within 30 days)
- Extended Warranty (up to 2 years)
- Roadside Assistance
- Car Rental Loss and Damage Insurance (Secondary)
Click here for the full list, or click here for even more.
RESTRICTIONS AND CREDIT SCORE
Recommended credit score: 670+
Navy Federal Credit Union typically pulls credit reports from TransUnion. They may pull from Equifax or Experian instead, so YMMV.
The main restriction is getting NFCU Credit Union Membership to even apply for the card. It’s limited to military members and their families, along with certain government workers (Department of Defense employees, whether civilian or military). USAA has similar restrictions. There is no hard pull to join the union (such as opening a savings account).
People have reported that NFCU limits customers to a maximum of 3 cards and/or $80,000 cumulative credit limit.
And although American Express is widely accepted, it doesn’t have the same acceptance rate as Visa or Mastercard, especially overseas. It’s good to have a backup card when traveling.
MAXIMIZING REWARDS WITH THE CARD
Points are worth a standard $0.01 each (1 cpp). There aren’t any special strategies to maximize earnings with NFCU. This simplicity may appeal to some people; you simply use the credit card and accumulate cash back rewards.
Points are unlimited and don’t expire.
The “transit” category is reasonably broad. NFCU’s disclosures state “Merchant transit categories classified as railway, ferries/water trip, taxis, limousines, bus lines, charters, tour buses, tolls, road/bridge fees, and parking/lots will receive 3 points for every $1 of net purchases.” Since More Rewards also gets 3% back on gas, it’s a good card for any non-airline non-hotel travel expenses.
ALTERNATIVES TO THE MORE REWARDS CARD
Most cards don’t earn 3% cash back in four categories, so More Rewards is a tough card to beat. You’d have to take out more than one card to equal or exceed these earnings.
The American Express Blue Cash Preferred offers 6% on groceries and 3% on gas/transit, but it has an annual fee and doesn’t include the dining category. The Capital One SavorOne earns 3% on groceries and dining, but doesn’t include the gas/transit category. The Wells Fargo Autograph and the NIHFCU Travel Rewards get 3% on dining, travel/transit, and gas, but don’t include groceries.
On gas expenses, USAA has a card which gives 5% cash back, and anyone who qualifies for NFCU membership can go to USAA too. For one other category, the Citi Custom Cash is another option for 5% cash back.
There isn’t a one-size-fits-all alternative to More Rewards. You’ll have to check around for a card which offers the greatest benefits for your spending habits. Personally we might combine the Chase Sapphire Reserve with Citi Custom Cash and USAA card.
CONCLUSION
If you’re able to join NFCU and get approved for their card, this is a good deal for people who don’t want to juggle multiple cards. Unlimited rewards at grocery stores and gas stations is an important benefit for some families. Having multiple credit cards may get you higher benefits, but not everyone wants perfect optimization. More Rewards also has a great suite of consumer protections, including the rare Price Protection benefit. Sometimes a lower cash back rate is worthwhile if the trade-off is peace of mind.
We rate the More Rewards card 4 out of 5 stars. ⭐⭐⭐⭐
Note: This review was last updated in May 2023. Details may have changed since then. Please do your own research where applicable, to ensure you’re getting the best deal. Or contact us directly to benefit from our personalized consulting services!