BEST CREDIT CARDSBEST CREDIT CARDSNAVY FED MORE REWARDS REVIEW: RICH REWARDS ON EVERYDAY SPENDING

Navy Fed More Rewards Review: Rich Rewards on Everyday Spending

The $0-annual-fee card also offers an unusually big sign-up bonus. But you must join the credit union to get it, and if you travel abroad, the card may not be ideal.
Melissa Lambarena Author AvatarKimberly Palmer Author Avatar
May 16, 2023 10:41 a.m. PDT
Edited by
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The Bottom Line

4.8

NerdWallet rating

If you qualify for membership at Navy Federal Credit Union, this card can earn easy rewards on groceries, gas, dining and transit. For a card that travels well, look elsewhere.

Navy Federal Credit Union® More Rewards American Express® Credit Card Image
Navy Federal Credit Union® More Rewards American Express® Credit Card
Annual Fee
$0
Rewards Rate
1x-3x
Points
Intro Offer
30,000
Points
Recommended credit score
Intro APR
1.99% intro APR for 12 months on balance transfers requested within 60 days of account opening
Regular APR
14.90%-18.00% Variable APR
Recommended credit score
Navy Federal Credit Union® More Rewards American Express® Credit Card Image
Navy Federal Credit Union® More Rewards American Express® Credit Card
Annual Fee
$0
Rewards Rate
1x-3x
Points
Intro Offer
30,000
Points
Recommended credit score
Intro APR
1.99% intro APR for 12 months on balance transfers requested within 60 days of account opening
Regular APR
14.90%-18.00% Variable APR
Recommended credit score
  • Annual fee

    $0

  • Rewards rate

    1x-3x

  • Bonus offer

    Earn 30,000 bonus points when you spend $3,000 within 90 days of account opening. Expires on Jun. 30, 2024.

  • Intro APR

    1.99% intro APR for 12 months on balance transfers requested within 60 days of account opening

  • Ongoing APR

    APR: 14.90%-18.00% Variable APR

    Penalty APR: Up to 18.00%, Variable

    Cash Advance APR: 20.00%, Variable

  • Foreign transaction fee

    None

  • Transfer your non-Navy Federal balance to a More Rewards card within 60 days of opening an account, and you could save with a 1.99% intro APR on that transferred balance for 12 months from account opening. After that, a variable APR between 14.90% and 18% applies. Plus, with a Navy Federal More Rewards American Express® Card in your wallet, you can earn 30,000 bonus points when you spend $3,000 within 90 days of account opening. Expires on Jun. 30, 2024.
  • 3X points at restaurants and on food delivery
  • 3X points at supermarkets
  • 3X points on gas and transit
  • 1X points on everything else
  • No annual fee

Pros and Cons

Pros

No annual fee

Bonus categories

No balance transfer fee

New cardholder bonus offer

No foreign transaction fees

Cons

Must be a member/customer

No 0% intro APR

Lower acceptance abroad

Detailed Review

For an everyday rewards card, the Navy Federal Credit Union® More Rewards American Express® Credit Card is an excellent choice: Cardholders earn a high rewards rate on supermarket spending, gas and transit spending and restaurants — a wide swath of daily spending — all for no annual fee.

There's also a richer-than-usual sign-up bonus, plus the card is available to people with average credit, which is not always the case with rewards cards.

As an American Express product, international acceptance may be somewhat limited. But as long as you can qualify for it by being eligible to join the Navy Federal Credit Union, it’s hard to find a better card for daily use.

Navy Federal Credit Union® More Rewards American Express® Credit Card: Basics

Annual fee: $0.

Sign-up bonus: Earn 30,000 bonus points when you spend $3,000 within 90 days of account opening. Expires on Jun. 30, 2024.

Ongoing rewards:

  • 3 points per $1 spent on groceries, gas, dining and transit. (The transit category covers rideshare, tolls, railways, parking lots, taxi services, bus lines, limos and more. )

  • 1 point per $1 spent on everything else.

You can redeem points for things like cash back, gift cards and travel.

APR: 1.99% intro APR for 12 months on balance transfers requested within 60 days of account opening, and then the ongoing APR of 14.90%-18.00%, Variable.

Balance transfer fee: None.

Foreign transaction fee: None. (Note, however, that American Express isn't as widely accepted internationally as Visa or Mastercard.)

Other benefits:

  • Up to 25% off car rentals, plus car rental loss and damage insurance.

  • Roadside assistance.

Compare to Other Cards

ANNUAL FEE
$0
INTRO APR
0% intro APR on Balance Transfers for 18 months
REGULAR APR
19.24%-29.24% Variable APR
RECOMMENDED CREDIT SCORE
ANNUAL FEE
$0
INTRO APR
0% intro APR for 15 months on purchases and balance transfers
REGULAR APR
17.24%-28.24% Variable APR
RECOMMENDED CREDIT SCORE
ANNUAL FEE
$0
INTRO APR
0% intro APR on purchases and Balance Transfers for 15 months
REGULAR APR
20.49%-29.24% Variable APR
RECOMMENDED CREDIT SCORE
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Benefits and Perks

Bonus rewards on everyday spending

The Navy Federal Credit Union® More Rewards American Express® Credit Card makes it easy to earn back some value on your purchases whether you're shopping for one or a large family. You get an unlimited 3 points per $1 spent at supermarkets and gas stations; 3 points per $1 spent on dining and transit; and 1 point per $1 spent everywhere else. A card that offers top rewards in all of these everyday spending categories is rare, and some that do offer them put a cap on those higher rates. But there's no limit to the rewards you can earn with this card.

Average credit is welcome

With average credit — also known as fair credit, meaning FICO scores of at least 630 — your pool of options is limited when it comes to rewards cards. Some of those options even charge annual fees. The Navy Federal Credit Union® More Rewards American Express® Credit Card is an exception. It's surprisingly generous with a high rewards rate, introductory incentives and low fees.

Another option that is accessible to those with fair credit is the Discover it® Secured Credit Card, which also offers rewards at gas stations and restaurants. However, the rewards rate is not as robust, and you'll need to put down a security deposit.

Flexible redemption

The card offers a variety of redemption options: cash back and travel, yes, but also merchandise, gift cards and more.

Drawbacks and Considerations

Credit Union membership requirement

To get this card, you'll have to join the Navy Federal Credit Union. Typically, membership is limited to current or former members of the military, Department of Defense employees, or their qualifying family members. If you don't qualify or if it's just one too many hoops to jump through, remember that general rewards credit cards usually don't require membership with the issuing bank.

The Wells Fargo Autograph℠ Card offers similar rewards categories and doesn't require a credit union membership. You might also want to consider other cards that reward spending on restaurants, gas and grocery stores.

Lack of 0% intro APR offer

The card doesn't offer a 0% intro APR period on balance transfers. True, there are no balance transfer fees, and the card's ongoing interest is potentially lower than you might find on other cards (depending on your creditworthiness).

But if you're hoping to get a reprieve from interest, other cards will likely be a better choice. The $0 annual-fee BankAmericard® credit card, for example, has this offer: 0% Intro APR for 18 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 16.24% - 26.24% will apply.

Limited global acceptance

Even though it doesn’t charge foreign transaction fees, this card isn't the best travel companion. Because it's an American Express, you'll face limited merchant acceptance abroad compared with the Visa and Mastercard networks. If you live outside of the United States or travel internationally often, you’ll need a backup payment method. The Capital One SavorOne Cash Rewards Credit Card runs on the Mastercard network and is an ideal option with no foreign transaction fees. It earns 3% cash back on dining, grocery stores and entertainment, including streaming services; 8% on Capital One Entertainment purchases; 5% on hotels and rental cars booked through Capital One Travel; and 1% on all other purchases.

Set rewards categories

Perhaps you would benefit from the ability to choose your own rewards categories. The Bank of America® Customized Cash Rewards credit card earns 3% cash back on a chosen category (from a list of six) and 2% back at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases), and an unlimited 1% back on all other purchases. Possible 3% options include gas, dining, online shopping, travel, drugstores, or home improvement/furnishings. Or consider the U.S. Bank Cash+® Visa Signature® Card. It earns 5% back on the first $2,000 in combined purchases in two categories of your choice from the issuer's approved list (see it below); 2% unlimited cash back on an everyday category of your choice (such as gas stations, grocery stores or restaurants); and 1% back on other non-bonus-category purchases.

  • Fast food.

  • Home utilities.

  • TV, internet and streaming.

  • Department stores.

  • Cell phone providers.

  • Electronics stores.

  • Sporting goods stores.

  • Movie theaters.

  • Gyms/fitness centers.

  • Furniture stores.

  • Ground transportation.

  • Select clothing stores.

How To Decide If It's Right For You

If you can qualify for membership at Navy Federal Credit Union, the Navy Federal Credit Union® More Rewards American Express® Credit Card can reward you handsomely for your everyday purchases.

But if you're looking to pay down debt or for a good travel buddy, consider another option. See how the card stacks up with others by visiting NerdWallet's roundup of the best credit cards to get.

Alternate Pick: No membership requirement
High rewards on all purchases

This card earns 2% cash back on everything: 1% when you buy and 1% when you pay it back. It has a $0 annual fee, and as a Mastercard, it will have widespread international acceptance.


Methodology

NerdWallet reviews credit cards with an eye toward both the quantitative and qualitative features of a card. Quantitative features are those that boil down to dollars and cents, such as fees, interest rates, rewards (including earning rates and redemption values) and the cash value of benefits and perks. Qualitative factors are those that affect how easy or difficult it is for a typical cardholder to get good value from the card. They include such things as the ease of application, simplicity of the rewards structure, the likelihood of using certain features, and whether a card is well-suited to everyday use or is best reserved for specific purchases. Our star ratings serve as a general gauge of how each card compares with others in its class, but star ratings are intended to be just one consideration when a consumer is choosing a credit card. Learn how NerdWallet rates credit cards.

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