Navy Federal Credit Union

Yes, Navy Federal does have an American Express credit card: the Navy Federal Credit Union More Rewards American Express® Credit Card. This card offers 3 points per $1 spent at restaurants, food delivery, supermarkets, gas and transit, and 1 point per $1 spent on all other purchases. Plus, you earn 20,000 points after spending $2,000 within 90 days . On top of that, this card has a $0 annual fee.

It's also worth noting that you'll also need at least good credit to have high odds of approval for the Navy Federal Credit Union More Rewards American Express® Credit Card.

Things to Keep in Mind Before Applying for a Navy Federal Credit Card

The Navy Federal Credit Union More Rewards American Express® Credit Card is the only Navy Federal credit card on the American Express network right now. Navy Federal issues a number of other credit cards on the Visa and Mastercard networks.

Anyone considering a Navy Federal American Express, Mastercard or Visa card should bear in mind that you must qualify for Navy Federal Credit Union membership first, before you can apply for the card. Anyone connected to the U.S. Armed Forces or Department of Defense, including family members, may be considered for membership.

You can request a Navy Federal balance transfer when you apply for any NFCU credit card. If you already have a Navy Federal card, you can make a transfer request through your online account. The Navy Federal balance transfer fee is 0%. The NFCU balance transfer APR could be as low as 0.99% (intro) or as high as 12.24% - 18% (V), depending on the card.

The best Navy Federal balance transfer credit card is the Navy Federal Credit Union Platinum Credit Card because it offers an intro APR of 0.99% for 12 months on balance transfers. The card's regular APR is 8.24% - 18% (V). This card has a $0 transfer fee and a $0 annual fee. There are no other 0% balance transfer credit cards from Navy Federal at this moment. But most NFCU cards have fairly low regular APRs.

Navy Federal Balance Transfers:

• Best balance transfer card: The Navy Federal Platinum Credit Card offers 0.99% for 12 months on balance transfers. No other NFCU cards have 0% rates, but regular APRs range from 8.24% - 18% (V).
• Balance transfer fee: $0 balance transfer fees.
• Timeline: It should take about two weeks for your Navy Federal balance transfer to be completed.
• Ways to request: You can ask for a balance transfer on the application for a new NFCU card. For an existing card, you can request a balance transfer:
   
  Online: Sign in to your account. Click the “Transfers” tab. Click “Make a Credit Card Balance Transfer” at the bottom right. Fill in the required information. Submit your request.
   
  Through the mobile app: In the Navy Federal Credit Union mobile app, go to “Account Management,” then “Balance Transfer.” Enter the required information and submit your request.
• Information required: You need the account number for the balance you're transferring, plus the name and address of that account's issuer, along with the amount you want to transfer.

If you do a Navy Federal balance transfer, be sure to continue making monthly payments to your old issuer if the due date comes up before your balance transfer is completed. Otherwise, you risk being marked as late. Any additional payments you make to your old issuer will be credited to your NFCU card once the transfer processes.

Yes, Navy Federal Credit Union does offer debt consolidation loans. You can take out a personal loan from Navy Federal Credit Union and use it to pay off existing debts, thus consolidating those debts into a single new balance with one monthly payment that you must make to Navy Federal Credit Union. Navy Federal Credit Union does not specifically refer to their loans as "debt consolidation loans," so you'll need to take out a general-purpose personal loan.

Quick Facts About Navy Federal Credit Union Debt Consolidation Loans

• APR: 7.49% - 18%
• Origination fee: $0
• Loan amount: $250 to $50,000
• Payoff period: up to 60 months
• Credit score required: Not disclosed

Keep in mind that a debt consolidation loan from Navy Federal Credit Union will be worthwhile if it saves you money compared to the interest rates you are paying on your existing debts. In addition to the loan's APR, you should also consider any potential fees, as well as the available loan amounts and payoff periods.

Before you apply for a Navy Federal Credit Union debt consolidation loan, it's a good idea to compare it to WalletHub's editors' picks for the best debt consolidation loans. That way, you'll be able to see how the offer stacks up against loans from leading competitors.

The Navy Federal credit card approval requirements include a credit score of at least 700, in most cases; this is considered “good” credit. Other Navy Federal credit cards require a credit score of 750, i.e. excellent credit. Ultimately, Navy Federal also offers options for people with bad credit. You also have to be an NFCU member to apply for one of their credit cards.

Perhaps most importantly, Navy Federal will also verify your credit history and ability to pay. Your credit score, income, debt level and other factors will help determine if you're approved. This information will also play a role in setting your interest rate and credit limit.

Navy Federal Credit Card Credit Score Requirements

• Navy Federal Credit Union Visa Signature® Flagship Rewards Credit Card: 750 (Excellent credit).
• Navy Federal Credit Union cashRewards Credit Card: 700 (Good credit).
• Navy Federal Credit Union GO REWARDS® Credit Card: 700 (Good credit).
• Navy Federal Credit Union Platinum Credit Card: 700 (Good credit).
• Navy Federal Credit Union More Rewards American Express® Credit Card: 700 (Good credit).
• Navy Federal Credit Union nRewards® Secured Credit Card: 300 (Bad credit).

What Makes You Eligible for NFCU Membership

To apply for a Navy Federal Credit Union credit card, you also have to be an NFCU member. To be eligible for NFCU membership, you or one of your family members must have ties to the armed forces, National Guard or Department of Defense. This includes active-duty personnel, officer candidates, reservists and veterans. If none of these apply, call (888) 842-6328 or visit a local Navy Federal branch for assistance.

Information Required for Navy Federal Credit Card Applications

There is a lot of information required on NFCU credit card applications. You will have to provide your name, address and birthdate, for starters. The address must be a physical U.S. location and not a P.O. Box. You also need to list either your Social Security Number (SSN) or Individual Tax Identification Number (ITIN). Applicants must be U.S. citizens and at least 18 years old to be eligible. If you're under 21, you need proof of an independent income sufficient enough to make payments.

All applicants must include their employment status, monthly rent or mortgage payment, and annual income. You don't need a full-time job to qualify for a card, but you will need to report the sources of any income. This could be part-time salary or wages, rental income, retirement benefits, interest and/or dividend income, and more.

The easiest Navy Federal credit card to get is the Navy Federal Credit Union nRewards® Secured Credit Card because you can get approved with Bad credit. The Navy Federal Credit Union nRewards® Secured Credit Card requires a refundable deposit (minimum of $200), and the deposit becomes your credit limit. It's a real credit card, so information about your account will be reported to credit bureaus.

And you'll be charged an APR of 18% (V) on your purchases if you don't pay your balance in full every month. This secured card gives you a path toward unsecured credit, too. NFCU reviews secured credit accounts starting at 6 months for a chance at “graduating” from a secured card to an unsecured credit line.

Navy Federal Credit Cards Minimum Credit Score Requirements

If you're not looking for a secured card, NFCU mainly has unsecured credit cards for good credit or better.

• Navy Federal Credit Union nRewards® Secured Credit Card: Bad credit (300)
• Navy Federal Credit Union More Rewards American Express® Credit Card: Good credit (700+)
• Navy Federal Credit Union cashRewards Credit Card: Good credit (700+)
• Navy Federal Credit Union Platinum Credit Card: Good credit (700+)
• Navy Federal Credit Union GO REWARDS® Credit Card: Good credit (700+)
• Navy Federal Credit Union Visa Signature® Flagship Rewards Credit Card: Excellent credit (750+)

Keep in mind that, no matter how creditworthy you may be, you won't get approved for a Navy Federal credit card if you don't qualify for NFCU membership. Navy Federal Credit Union membership is open to members of the military, Department of Defense employees, veterans, and their families. You can see if you can become a member at the Navy Federal Credit Union website. But that restriction alone makes NFCU cards harder to get than comparable cards open to the general public.