The
Navy Federal Credit Union GO BIZ Rewards Credit Card is worth considering if you’re an NFCU member, your credit score is
750 or higher, and you either own a business or you’re starting one. The card has a
$0 and rewards, so it can save you money if you pay the bill in full every month. That doesn’t factor in the opportunity cost, however. Getting this card likely means passing on
business credit cards that could save you hundreds of dollars more each year.
What I Like About the Navy Federal GO BIZ Rewards Card
1 point per $1 spent
This is just about average for a rewards card. Just make sure you’re not losing value when you redeem. The points are worth “up to” 1 cent each.
In contrast, you can find lots of other business credit cards offering 1.5% - 5% back on purchases. So, while I like that the
Navy Federal GO BIZ Rewards Card rewards cardholders for making purchases, I don’t like that the rewards come in so slowly.
$0 annual fee
It’s common for business credit cards to charge $95+ in annual membership fees. The
Navy Federal GO BIZ Rewards Card is better in that regard. However, business credit cards that do charge annual fees often more than make up for the cost with valuable rewards and other benefits. That’s just some food for thought as you consider your options.
What I Don’t Like About the Navy Federal GO BIZ Rewards Card
No initial bonus
Some business credit cards offer
initial rewards bonuses worth $500-$1,000+. You can even get more than $200 on average from a credit card for personal use, according to WalletHub research. But this Navy Federal business credit card doesn’t give you anything.
No 0% introductory APR
Credit cards with 0% introductory APRs are popular among business owners, as they can help fund a small company’s growth or provide a bridge to get past cash flow issues. This card can’t fill that role.
The
Navy Federal GO BIZ Rewards Card’s regular APR applies from the start. Granted, it’s not the highest rate around, but it’s still not low. Carrying a balance from month to month with this card would still get quite expensive.
Excellent credit required
You need a credit score of
750 or higher to have a good shot at being approved for the
Navy Federal GO BIZ Rewards Card, based on our research. You can
check your latest credit score for free right here on WalletHub to see if you pass that test.
Note: This review is not provided, commissioned or endorsed by any issuer. Opinions and ratings are our own.
