After that, the fee will be 5% of each transfer (minimum $5). An intro balance transfer fee of either $5 or 3%, whichever is greater, applies to transfers completed within the first 4 months of account opening. After that, the standard variable APR will be 19.24% - 29.24%, based on creditworthiness. It comes with no foreign transaction fees and travel-related benefits that the Citi Double Cash® Card fails to provide.Ĭiti Double Cash® Card offers a 0% intro APR on balance transfers for 18 months. For those who travel-especially internationally-the Flagship will likely be the better option. This is effectively the same rewards earnings as non-travel purchases with the Flagship card, though the Flagship offers an increased rate of 3 points per dollar spent on travel. The Citi Double Cash® Card has an annual fee of $0 and earns 2% cash back on all purchases-1% when purchases are made and another 1% when they’re paid off. Navy Federal Credit Union Visa Signature® Flagship Rewards Card vs. This is in addition to the first-year welcome bonus. In total, this would equate to earning 78,398 points per year, which would be worth $783.98 when redeemed. At 2 points per dollar spent on all other purchases, the Navy Federal Flagship Card would earn another 60,266 points per year. At 3 points per dollar spent on travel, the Navy Federal Credit Union Visa Signature® Flagship Rewards Card would earn 18,132 points on these purchases.Īfter subtracting travel expenditures, Forbes estimates that the household would have another $30,133 in spending that could reasonably be put on a credit card. The 70th percentile of wage earners brings in $116,000 annually and we estimate spending in each category from that number.įorbes estimates that a typical household at this income level spends $6,044 on travel. Forbes Advisor uses data from multiple government agencies to determine baseline income and spending averages across various categories. To determine the rewards potential of the Navy Federal Credit Union Visa Signature® Flagship Rewards Card we reviewed the rewards program structure and calculated what the average household might spend on this card. Points can be redeemed on airfare, to refund annual fees, on merchandise, gift cards, rental cars, event tickets, cruises and hotels. Travel redemptions, like airline tickets, have a minimum redemption of 100 points. Rewards earned with the Flagship card can be redeemed for cash back, but a 5,000 point or $50 minimum redemption is required. Plus a free year of Amazon Prime worth of $139 value. The Navy Federal Credit Union Visa Signature® Flagship Rewards Card offers a welcome bonus of 30,000 bonus points (a $300 value) after spending $3,000 within 90 days of opening your account. There are no limits on the amount of rewards an account holder can earn and rewards do not expire as long as the account remains open. Rewards are earned automatically with the Flagship card at a rate of 3 points per dollar on travel and 2 points per dollar on everything else. Though the standard rate APR range is relatively low at 15.24% - 18.00% variable, we never recommend allowing any credit card debt to accrue any interest. But for a card with an annual fee, it seems a little light on benefits. The card’s lack of foreign transaction fees, plus its included higher-tech features that can usually only be expected with larger banks do add convenience and flexibility. The Navy Federal Flagship card offers many solid perks, including worldwide travel accident insurance, travel and emergency assistance support and a TSA PreCheck or Global Entry application fee waiver (up to $100 in statement credits). military service members and veterans, and any family members, too-including siblings, grandparents and grandchildren, so this increases the chance that someone in your family tree matches the criteria. You do have to be a member of Navy Fed to apply, but membership is open to all U.S. If choosing among 2% cash-back cards, your choice comes down to whether the additional benefits are worth the annual fee. That means to match the $0 intro annual fee for the first year, after that $49 annual fee it would require at least $4,900 in annual travel spending. This makes it superior to a 2% cash-back card for anyone spending money on travel, as points are worth a cash-back redemption rate of 1 cent each. The card earns 3 points per dollar on travel and 2 points per dollar on everything else. This review is for those who are curious if the $0 intro annual fee for the first year, after that $49 annual fee for the Navy Federal Credit Union Visa Signature® Flagship Rewards Card is worth it. When it comes to credit cards with annual fees, there are those who say “absolutely not” and those who ask, “Well, do the benefits justify the cost?” If you’re in the first group, move on.
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