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Navy Federal More Rewards American Express® Card review: A great chance at a low APR with fair rewards

A good opportunity for eligible members to earn rewards and save a bit on interest.

 /  11 min
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Bankrate rating
Rating: 4.3 stars out of 5

Bottom line

It doesn’t have the highest rewards rates available and doesn’t carry many flashy perks, but it makes up for it with no annual fee and one of the lowest APRs you’ll find. Keep your sights on this card if you’re eligible for it and want to avoid high-interest debt but don’t want to lose boosted rewards rates.
Image of Navy Federal More Rewards American Express® Card

Navy Federal More Rewards American Express® Card

Rating: 4.3 stars out of 5
Bankrate score
Excellent (740 – 850)
Recommended Credit


Intro offer



Annual fee

10.40% - 18.00% (Variable)


Navy Federal More Rewards American Express overview

The Navy Federal More Rewards American Express Card is a great option if you spend frequently in everyday categories because it has generous rewards rates with no annual fee. Its uncapped earnings also make this card a terrific choice for heavy spenders who might otherwise be limited by rewards restrictions on other cards.

Although it’s a decent, low-cost credit card for everyday purchases, this card is exclusive to Navy Federal Credit Union members. Unless you’re a member of the credit union, which is only open to active military, veterans and their families, you’ll want to look elsewhere. If you are eligible for the card, it’s worth comparing it to other rewards cards, as some cash back or points-earning cards may offer better rewards value. 

  • Credit Card Cash Back


    • 3X points at restaurants and on food delivery
    • 3X points on groceries
    • 3X points on gas and transit
    • 1X points on everything else

    Expert Appraisal: Good
    See our expert analysis

  • Credit Card Apr

    Intro APR offer

    • 1.99 percent intro APR on balance transfers made within your first 60 days for 12 months from account opening
    • 14.90 percent to 18 percent variable ongoing APR

    Expert Appraisal: Typical
    See our expert analysis

  • Credit Card Search

    Rates and fees

    • Annual fee: None
    • Late payment fee: Up to $20
    • Returned payment fee: Up to $20
    • ATM Cash advance fee: None at Navy Federal branches or ATMs. All other cash advances are subject to a $0.50 fee for domestic transactions or $1.00 for foreign transactions.
    • Foreign transaction fee: None

    Expert Appraisal: Good
    See our expert analysis

  • Congrats

    Other cardholder perks

    • Statement credit for annual Walmart+ membership
    • Roadside assistance
    • Car rental discounts, plus car rental loss and damage insurance

    Expert Appraisal: Typical
    See our expert analysis

Why you might want the Navy Federal More Rewards

This card has one of the lowest ongoing APRs you’ll find on any rewards card while maintaining its status as a low-interest credit card.

Rewards rate: Boosted points in everyday categories

Navy Federal’s rewards card is tailor-made for people who spend a lot on everyday purchases like supermarkets, dining in, takeout, gas and transit. A low-interest credit card with unlimited boosted rewards in these spending categories is a rare find, so eligible applicants will want to jump to apply.

If you want to consolidate card debt on a low-interest credit card with an introductory APR, but you don’t want to trade rewards value for the opportunity, this card may ease you into the idea. Although it doesn’t have the most generous rewards rates available, it has solid value for everyday spenders who make routine purchases at supermarkets, restaurants and gas stations. These three categories are among the top expenses charged to credit cards annually by average consumers.

Low ongoing APR: Below average rates

Cardholders interested in limiting interest as much as possible will appreciate this card’s low ongoing APR. The current average credit card interest rate hovers above 20 percent, but this card’s highest possible APR doesn’t exceed 18 percent. 

You won’t accrue as much interest with this card outside of its intro APR period as you would with several other cards with identical balances. But as always, you should strive to pay your monthly statement balance in full to avoid accruing interest in the first place.

Perks: Walmart+ Membership credit

For a limited time, cardholders are eligible for a one-time $98 statement credit for an annual Walmart+ membership when they pay $49 or more for a Walmart+ membership using their Navy Federal More Rewards card.

Although this is a niche offering that may appeal only to Walmart customers, it’s a valuable offer that can help offset your annual membership fee for your first year with the card.

Why you might want a different rewards card

Although this card has strong rewards rates and a low ongoing APR, it lacks the benefits available on credit cards from major issuers. Some cardholders may also not want to join a credit union.

Rewards value: Limited redemption methods

While this is an American Express card, cardholders will earn Navy Federal Rewards points, not American Express Membership Rewards points. Navy Federal Rewards are worth 1 cent per point and you can redeem them for cash back, travel, gift cards or merchandise through the Navy Federal website. This is an acceptable point value, but these points lack the power and flexibility of Amex points, which are among the most valuable rewards currencies when transferred for travel purchases.

If you’re hoping to maximize travel redemptions and boost the value of your rewards, this isn’t the card for you. Instead, consider exploring rewards cards from other issuers, like Capital One, Chase and American Express. These issuers have expansive card offerings and top the charts for the best credit card rewards.

Membership required: You’ll need to qualify for Navy Federal 

Because the card is a Navy Federal Credit Union-branded credit card, you have to be a member of the credit union to apply. Eligibility is restricted to those who serve or have served in the military, are civilian personnel with the Department of Defense or are an immediate family member of either.

It doesn’t take much to join if you meet the eligibility requirements, but banking loyalty comes down to personal preference and what makes you the most comfortable. If you don’t want to shake things up just to apply for a credit card, there are more accessible reward card options available with comparable card features, rewards rates and welcome offers. 

Intro APR: Lacks a 0% offer for new cardholders

If you have current card debt, you can take advantage of this card’s modest introductory APR, but there are cards with 0 percent offers that can help shield you from even more interest. This card’s key strength is its low ongoing APR, making it an ideal match for people making new purchases who need to carry their balance for a few months.

No welcome offer: Compares poorly to competitors

The lack of a welcome offer is disappointing no matter the card type. This is especially true because many cash back and rewards cards at this credit tier offer sign-up bonuses valued at around $200. 

Best cards to pair with the Navy Federal More Rewards Amex

If you want to supplement the rewards you earn with the Navy Federal More Rewards, consider these two options.

Who is the Navy Federal More Rewards Amex right for?

The More Rewards Amex is a good pick for any eligible member who wants a rewards card that can earn on common spending categories.

Bankrate’s Take — Is the Navy Federal More Rewards American Express Card worth it?

Yes. This card is great for securing a low interest rate without any stakes or high fees. If you’re eligible or are already a member of Navy Federal, you might consider carrying this card just for its low APR, which can help dredge up some interest savings if you need to carry a balance.

Unfortunately, this card is gated behind membership. If you’re not a Navy Federal member then you can’t apply, but there are several other low interest reward credit cards worth considering.

How we rated this card

cards rated
rewards programs valued
data points analyzed
Credit Card Reviews
perks evaluated

We rate credit cards using a proprietary card scoring system that ranks each card’s estimated average rewards rate, estimated annual earnings, welcome bonus value, APR, fees, perks and more against those of other cards in its primary category.

Each card feature is assigned a weighting based on how important it is to people looking for a card in a given category. These features are then scored based on how they rank relative to the features on other cards in the category. Based on these calculations, each card receives an overall rating of 1-5 stars (with 5 being the highest possible score and 1 being the lowest). 

We analyzed over 150 of the most popular rewards and cash back cards to determine where each stacked up based on their value, cost, benefits and more. Here are some of the key factors that influenced this card’s overall score and how the score influenced our review:

Written by
Brendan Dyer
Associate Editor, Credit Cards
Brendan Dyer holds a Master of Fine Arts in Journalism from Western Connecticut State University and worked previously as a content editor for Regional News Network, a hyper-local TV news station contracted by Verizon FiOS1 News. As a national service volunteer, Brendan exercised a passion for helping underserved communities and demographics through direct, community service. He constantly seeks to apply his expertise as a journalist to the field of personal finance with the goal of helping people navigate the complexities of the credit card industry.
Edited by Editor, Credit cards

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Editorial Disclosure: Opinions expressed here are the author's alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.