Navy Federal Platinum Review: Zeros That Add Up to a Lot

It's a no-frills card that's decent for balance transfers. But you must be a Navy Federal Credit Union member to get it, and it earns no rewards.
Robin Saks Frankel
Gregory Karp
By Gregory Karp and  Robin Saks Frankel 
Edited by Kenley Young

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NerdWallet rating 
The bottom line:

It packs an impressive combination of debt-zapping features that can be hard to find elsewhere, assuming you're eligible to apply.


  • No annual fee

  • Intro APR period

  • No balance transfer fee

  • No foreign transaction fees


  • Must be a member/customer

  • No new cardholder bonus offer

  • No rewards

Jump to: Detailed review
Navy Federal Credit Union Platinum Credit Card
Navy Federal Credit Union® Platinum Credit Card
Annual fee
Regular APR
10.74%-18.00%, Variable
Intro APR
0.99% intro APR on Balance Transfers for 12 months, then 10.74%-18.00%, Variable
Rec. credit score
690-850 (Good - Excellent)
  • Annual fee


  • Rewards rate


  • Bonus offer


  • Intro APR

    0.99% intro APR on Balance Transfers for 12 months, then 10.74%-18.00%, Variable

  • Ongoing APR

    APR: 10.74%-18.00%, Variable

    Penalty APR: Up to 18.00%, Variable

    Cash Advance APR: 20.00%, Variable

  • Foreign transaction fee


More details from Navy Federal Credit Union
  • Transfer your non-Navy Federal balances within 60 days of getting a Platinum card, and you'll pay 0.99% intro APR on the balance transfer for 12 months from account opening. After that, a variable APR between 10.74% and 18% applies. Expires on Aug. 31, 2023.
  • No annual fees
  • No balance transfer fees
  • No foreign transaction fees

Compare to Other Cards

NerdWallet rating 
NerdWallet rating 
NerdWallet rating 
Annual fee


Annual fee


Annual fee


Regular APR

17.99%-28.74% Variable APR

Regular APR

19.49%-29.49% Variable APR

Regular APR

19.74%-28.49% Variable APR

Intro APR

0% Intro APR for 21 months on Balance Transfers and 12 months on Purchases

Intro APR

0% intro APR for 18 billing cycles on purchases and balance transfers

Intro APR

0% intro APR for 15 months on purchases and balance transfers

Recommended Credit Score
Recommended Credit Score
Recommended Credit Score
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Detailed review: Navy Federal Credit Union® Platinum Credit Card

The Navy Federal Credit Union® Platinum Credit Card could be a great fit for someone seeking a break on high-interest debt.

The card packs a punch with its triple-zero money-saving features: a $0 annual fee, a 0% intro APR offer for balance transfers, and $0 in balance transfer fees. It's not easy finding a card that offers all three. There's no 0% APR for new purchases, but the card still offers a potentially low ongoing rate for those who qualify.

However, that 0% period isn’t super long, you won't earn rewards, and you need to be eligible to join the Navy Federal Credit Union.

Navy Federal Credit Union® Platinum Credit Card: Basics and benefits

Card type: Balance transfer.

Annual fee: $0.

Sign-up bonus: None

Rewards: None.

APR: 0.99% intro APR on Balance Transfers for 12 months, and then the ongoing APR of 10.74%-18.00%, Variable APR.

Balance transfer fee: None.

Foreign transaction fee: None.

Benefits and perks

Good for balance transfers

Besides the card's 0% intro APR offer on balance transfers, it charges no balance transfer fees, which is somewhat unusual. Normal is 3% to 5% of the amount transferred. Competitors with no balance transfer fees typically restrict the window for transfers to the first month or two for card ownership. This one has no transfer fees at all (although the 0% APR is for a limited time.)

And with this card, you’ll pay no annual fee. That's a rare combination of features. If you're confident you can pay off your transferred balance within the 0% APR balance-transfer window, this card can be a real money-saver on interest.

Decent if you need to carry a balance

NerdWallet recommends paying balances in full each month to avoid interest charges. But if you can’t do that, this card offers a potential ongoing APR that's notably lower than the average, depending on your creditworthiness. The lower your APR, the less you'll pay in interest. So more of your monthly payment goes to paying down the principal.

Works as a travel companion

The card doesn't charge a foreign transaction fee, so you can use it internationally without racking up extra charges.

Drawbacks and considerations

You may not qualify to join Navy Federal

You must be a Navy Federal Credit Union member to have this card, meaning you must meet eligibility requirements. If you don't qualify for Navy Federal membership, you'll want to consider another balance transfer card.

Relatively short 0% transfer period

For transferring debt, this card’s offer is: 0.99% intro APR on Balance Transfers for 12 months, and then the ongoing APR of 10.74%-18.00%, Variable APR. That’s OK for a rewards card, for example. But among balance-transfer cards, that 0% period is not a competitive length of time, compared with the best cards.

True, it has no balance-transfer fee, and some other cards do. But sometimes the longer 0% period on balance transfers is more important. If you need a longer 0% period, consider a card like the U.S. Bank Visa® Platinum Card or the Citi® Diamond Preferred® Card.

Late fees and penalty APR

If you pay late, terms of the Navy Federal Credit Union® Platinum Credit Card are punishing. Your card's promotional APR or low ongoing rate can end in the blink of an eye, and the card will sock you with its highest possible APR (after being 60 days late), plus a late fee of up to $20 per incident. Pro tip: If your friends would describe you as absent-minded, you may be better off with a more forgiving card like the Citi Simplicity® Card. The card charges no late fees or penalty APR if you make a late payment.

Alternate Pick: Rewards, plus a longer intro APR period
Amex EveryDay® Credit Card
Intro APR applies to purchases, too

This card earns 2X points at U.S. supermarkets on up to $6,000 per year in purchases and 1X the points on other spending. Plus, use it for purchases 20 times or more in a billing cycle and get a 20% points boost on that spending, less returns and credits. It also offers a 0% Intro on Purchases for 15 months, and then the ongoing APR of 13.24%-24.24% Variable APR. The annual fee is $0. Terms apply.

Read our review

How to decide if it's right for you

If you're seeking a card with rewards and perks — or if you’re likely to pay late occasionally — look elsewhere.

But if you're trying to pay off high-interest debt and you qualify for Navy Federal Credit Union membership, this card can help, thanks to its coveted "triple-zero" balance-transfer features.

Even if you can't knock out all of your debt within the promotional APR period, the low potential ongoing rate can also be helpful, assuming you qualify.


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.