Navy Federal Credit Union

You can get a Navy Federal cash advance at a bank branch or an ATM that displays the logo of your card's network. For ATM cash advances, your Navy Federal credit card must have a PIN. You can request or reset a PIN by sending a secure message through your online account, or at a local branch. You can also call (888) 842-6328 for assistance. There is no cash advance fee if you use your credit card at a Navy Federal branch or ATM.

Here's what you need to know about Navy Federal credit card cash advances:

• Location: You can get a Navy Federal credit card cash advance at an ATM or bank branch that displays the logo of your card's network. In-branch cash advances require a government-issued photo ID, your card and account number. ATM cash advances require a credit card PIN.
• Cash advance fees: Cash advances performed at a Navy Federal branch or ATM do not incur any cash advance fees, but all other domestic cash advances are subject to a $0.5 fee. In addition to the Navy Federal fee, some ATM's may charge an additional fee of their own.
• Cash advance APR: The Navy Federal cash advance APR is 2% above the regular APR, not to exceed 18%. For instance, the Navy Federal Credit Union Platinum Credit Card features a regular APR of 6.24% - 18% (V), depending on creditworthiness, so its cash advance APR is between 8.24% - 18% (V). Check your monthly statement to see what your exact cash advance APR is. Cash advance APR starts accruing from the moment of the transaction.

Credit card cash advances are very costly, so It's best to avoid them unless it's an absolute emergency.

You need to wait for at least 3 months after opening your account before asking for a Navy Federal credit limit increase. You should also wait a minimum of 3 months in between future credit limit increase requests. If you request a credit limit increase, you will be asked to give Navy Federal permission to do a hard pull of your credit report. This lets them assess your creditworthiness. The hard pull will cause your credit score to dip a few points. But your score should rebound quickly if you continue to use your card responsibly.

To request an NFCU credit limit increase, you can log in to your online account or send a secure message through online banking. You can also call customer service at (888) 842-6328. Be prepared to provide your employment status, annual income and the amount of your monthly rent or mortgage payment.

Navy Federal may also extend you an automatic credit limit increase – as often as once every six months but probably not so frequently. The evaluation for an automatic increase uses a soft credit pull, which does not affect your credit score. While Navy Federal will periodically review your account, there's no guarantee they will give you an automatic increase. You can help your chances by always paying on time and keeping your credit utilization below 30%.

To apply for a Navy Federal Credit Union personal loan, first decide which way you will apply (online, by phone or in person), then enter your personal and financial information on the application. Next, verify the accuracy of the information, submit the application and wait to receive a decision.

How to Apply for a Navy Federal Credit Union Personal Loan

1. Decide which way to apply. You can apply for a Navy Federal Credit Union personal loan online, by phone or in person. Applying online is the best way because it typically offers the fastest decision.
2. Enter your personal information on the application. Navy Federal Credit Union requires the following personal information on the application: full name, driver's license or government ID, current home address, email address, phone number, date of birth and Social Security number.
3. Enter your financial information on the application. Navy Federal Credit Union requires the following financial information on the application: your current employment and income, employer's name and contact information, and NFCU Access Number.
4. Double check the application for accuracy. To ensure that your Navy Federal Credit Union personal loan application gets processed as quickly as possible, make sure that all the information is correct and complete before you submit it.
5.  Submit your application. Navy Federal Credit Union will typically provide a decision on your application within 3 to 11 business days.

If you are approved for a Navy Federal Credit Union personal loan, you will generally receive the funds within 1 to 3 business days after approval. After that, it's your responsibility to make monthly payments until you have fully paid back your loan, including interest.

The Navy Federal foreign transaction fee is 0%. Other than NFCU, major credit card companies with $0 foreign fees on all cards include Capital One, USAA, and PenFed. It's also worth noting that most all Navy Federal credit cards have 0% annual fees, too.  

One of the best Navy Federal credit cards to use internationally is the Navy Federal Credit Union Visa Signature® Flagship Rewards Credit Card. This card has 0% foreign transaction fees and offers good rewards, especially for travel related purchases. With this card, you'll earn 3 points per $1 spent on Travel, and 2 points per $1 spent on all other purchases. The Navy Federal Credit Union Visa Signature® Flagship Rewards Credit Card has a $49 annual fee.

Navy Federal Credit Union does not have a student credit card. Its most viable option for students is the Navy Federal Credit Union nRewards® Secured Credit Card. It's a secured credit card, so you need to put down a deposit of $200, at a minimum.

This card is a good option if you want to build or rebuild credit. You can use it anywhere Mastercard is accepted. Plus, you can earn 1 point per $1 spent on all purchases. Keep in mind however, that since Navy Federal is a credit union, there are membership restrictions. You have to be an active or retired military service member or Department of Defense civilian in order to be eligible for membership. Direct family members also qualify.

Alternative Student Credit Card Option

If you're not tied to Navy Federal as an issuer, there are plenty of student credit card options to choose from. For instance, with the Bank of America® Unlimited Cash Rewards credit card for Students, you can earn  1.5% cash back on all purchases. Plus, the card offers $200 after spending $1,000 in the first 90 days. The annual fee is $0.