Navy Federal Visa Signature Flagship Rewards Credit Card: 40,000 Bonus Points, Amazon Prime, 2X Points

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards and may receive a commission. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned.

NavyFed Credit Union has updated their premium rewards credit card, the Navy Federal Visa Signature Flagship Rewards Credit Card. The rewards points are now directly redeemable for cash statement credits (not only offsetting travel), and TSA PreCheck fee credit was added. The highlights:

  • 40,000 bonus points when you spend $3,000 within the first 90 days of opening a new card. 40,000 points can be redeemed for a $400 statement credit.
  • Free year of Amazon Prime membership. Use the card to purchase an Amazon Prime annual membership, and they’ll reimburse you ($119 + taxes).
  • 3X points per net dollar spent on travel.
  • 2X points per net dollar spent on everything else.
  • Global Entry or TSA PreCheck fee credit (up to $100)
  • No foreign transaction fees.
  • $49 annual fee.

The “catch” is that in order to apply, you must first become a credit union member. Membership eligibility for NavyFed now goes beyond current and retired members of the armed forces to include their families and household members of veterans, Department of Defense personnel and more.

Each point is worth $0.01, with a minimum redemption 5,000 points = $50 statement credit. Therefore, this card could be considered the equivalent of a 2% cash back card on everything with the added perks of 3% cash back on travel. The drawback is that $49 annual fee, although you could consider that offset by the upfront bonus points, free first year of Amazon Prime membership, and/or $100 TSA PreCheck credit. 49,000 points would directly offset the $49 annual fee. Compare with the Citi Double Cash at 2% cash back on everything with no annual fee.

My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. MyMoneyBlog.com is also a member of the Amazon Associate Program, and if you click through to Amazon and make a purchase, I may earn a small commission. Thank you for your support.

User Generated Content Disclosure: Comments and/or responses are not provided or commissioned by any advertiser. Comments and/or responses have not been reviewed, approved or otherwise endorsed by any advertiser. It is not any advertiser's responsibility to ensure all posts and/or questions are answered.

Speak Your Mind

*