Navy Federal cashRewards Plus Card: $250 Bonus, 0% APR for 12 Months w/ No Balance Transfer Fee, 2% Cash Back, No Annual Fee

Updated with no balance transfer fee 0% APR offer. The Navy Federal cashRewards Plus Card is the new and improved sibling of the Navy Federal cashRewards Card (no “Plus”). The difference: If the credit limit you get is $5,000 and above, you get the Plus with a higher 2% cash back. Under $5,000; no Plus and the old 1.5% cash back. NavyFed has a limited-time offer starting January 2025. Rest of the highlights:

• $250 cash back for new cardholders after $2,500 in purchases within 90 days of account opening.
• NEW: 0% intro APR on balance transfers for 12 months, with no balance transfer fee. This limited-time offer ends 3/31/25.
• Flat 2% cash back on all purchases with the cashRewards Plus card with $5,000+ credit limit.
• Flat 1.5% cash back on all purchases with the cashRewards card with less than $5,000 credit limit.
• No foreign transaction fees.
• No annual fee.

There is no cap on cash back earned. Cash back does not expire as long as the account is open. Note: There is no longer any benefit to having direct deposit on a NavyFed checking account.

A few readers have commented that they don’t like dealing with miles or points, and prefer simple cash back. This is one of the better cash bonuses on a flat 2% cash back card with no annual fee. I would recommend to maximize your stated income to include all legitimate, eligible sources in order to get the highest credit limit possible.

The primary catch here is that in order to apply, you must be a NavyFed 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. Eligible family members include your spouse, parents, siblings, grandparents, children, stepchildren and grandchildren. If you call them up, they can help you confirm the details on the veterans in your family. The effort can be worth it as NavyFed also offers other useful financial products like mortgages, car loans, certificates of deposit, etc.