Ever since the financial collapse that was 2008, I’ve had a tough time trusting banks with my money. I know, I know, I advocate for big bank credit cards each and every day. They just offer phenomenal credit cards, what else can I say? However, I would much rather give as much business as I can to the local credit unions. They just offer better rates on not only savings and checking accounts, but also when it comes to different loans.
If you are eligible for joining Navy Federal, you may want to consider looking at their newly relaunched credit card. Not only does it have an increased sign up bonus, but they also played around with the reward categories too.
We are seeing two different offers on the relaunch of this card. The first is the public offer of 30,000 points after spending $3,000 within the first 3 months. The second offer is more of a targeted offer that you will see when you login to our Navy federal account. It’s an offer of 40,000 points after spending $4,000 within the first 3 months.
The points themselves are worth about 1 cent per point, so these offers would return $300 and $400 respectively. In both cases, the return on spending for the sign up bonuswould be 10%.
Credit Card Summary
Outside of the sign up bonus, we saw some other changes coming to the card as well. Here is how the card sits now.
There is no annual fee or foreign transaction fee on this card. There is a 3x reward category for spending on supermarkets, gas stations, restaurants, and finally transit. For every other dollar spent on the card, you will earn 1x.
As far as when it comes time to redeem the points you’ve earned, there is a 5,000 point minimum redemption. There are two exceptions of 1,000 points for a digital download, and 3,000 points for a gift card.
If you are eligible to join Navy Federal Credit Union, this isn’t a bad card to pickup. The sign up bonus returns a nice 10% no matter which offer you apply for and the 3x category is now pretty broad. While it isn’t that important in the grand scheme of things, I also do like the way the new card looks, but that’s just me.
What do you think about this relaunch? Let us know down in the comments section below!