Navy Federal More Rewards American Express® Card Review

Anyone who spends a fair amount of money on food and transportation should be able to get a lot of value out of this generous everyday spending card. Families with long commutes and a lot of mouths to feed will likely get the most value out of the More Rewards American Express card—especially since, unlike some no-annual-fee cards, it doesn’t cap rewards on groceries and other bonus categories. 

Public transit riders will also appreciate the More Rewards card: It’s rare to find a card that offers such big rewards on public transportation purchases.

Unlike most competitors, the More Rewards American Express card isn’t just for people with excellent credit, either. It’s open to a wide range of potential borrowers, including consumers with average credit. 

However, you do need to have some connection to the military or the Department of Defense to qualify for Navy Federal Credit Union membership.

Pros Explained

• Great rewards at supermarkets, restaurants, and gas stations: The More Rewards card is unique in that it offers a high rewards earning rate on all three of the most common everyday spending categories (plus 1 point for every $1 on everything else). And there’s no cap on earnings in those categories.
• Flexible transportation rewards: Whether you ride to work on a subway, bus, or ferry, or drive on a tollway, you’ll earn 3 points per $1 spent on your commute and weekend travels, no matter how you get around. Public parking, taxis, and limousines are included, too. The More Reward’s card’s expansive transportation rewards are unusual for a low-cost everyday reward card.
• Low ongoing interest rate and few fees: For such a high-value card, you’d expect to see a higher interest rate or bigger fees to help pay the cost of maintaining the rewards program. However, its APR is significantly lower than average. The card also waives most fees, including balance transfer, cash advance, and foreign transaction fees. 
• Available to consumers with “average” credit: The More Rewards card is one of the only competitive rewards cards available that accepts cardholders with average credit.

Cons Explained

• Credit union membership required: To be a member and get this card, you need to be connected to the military or to the Department of Defense (for example, as an active-duty service member, retiree, veteran, a family member of one of those, or a civilian employee of the DOD).
• No points transfer to travel partners: You can often boost the travel value of a credit card rewards point by transferring it to an airline or hotel rewards program. But unlike some card issuers, Navy Federal Credit Union doesn’t have any transfer partners.

Bonus for New Cardholders

If you can spend $2,000 within the first 90 days of having your account, you can earn a 15,000 point welcome bonus that arrives in your rewards account within eight weeks. The card’s below-average bonus spending requirement is nice, but the bonus value is about half of what similar no-annual-fee rewards cards are offering right now.

The spending requirement shouldn't be an issue if you can spend at least $666 a month. But, remember, the 90-day deadline begins the day your account is open, not the day you receive the card in the mail.

Earning Points & Rewards

The More Rewards card offers a generous 3 points for every dollar you spend on groceries, gas, transportation, and dining. You earn 1 point per dollar spent on everything else.

If you regularly spend $500 a month on groceries, $200 a month on gas, and $200 on dining, you’ll easily earn more than $300 worth of rewards annually—just from your restaurant, gas, and grocery spending. If you have a big budget and spend a lot on fine dining, you could earn a lot just from that. For example, if you spend $1,000 a month on dining, you’ll earn $360 worth of rewards every year just from your restaurant purchases. Your total would be even higher with your non-dining spend added in.

Redeeming Rewards

Navy Federal gives you a variety of ways to redeem your points: 

• Rent a car, book a plane ticket, or hotel room through Navy Federal’s travel portal 
• Purchase event tickets, book reservations for a tour or attraction, a cruise or vacation package by phone with Navy Federal
• Merchandise, gift cards or use them
• Pay for up to three transactions of at least $50 in the past 90 days 
• Cash back

For travel, cash back, and statement credits, your points will be worth 1 cent each. We recommend redeeming your points for travel, cash back and statement credits, as redemption values for gift cards and merchandise vary and might be less than 1 cent per point.

How to Get the Most Out of This Card

Stick to grocery stores when you’re stocking up on home supplies—even if you’re just purchasing toiletries or cleaning supplies. This way, you’ll earn the 3-point earnings rate. If you pick up toothpaste at a drugstore or buy groceries at a big box store or wholesale club, you may only get 1 point per $1 spent because the merchant’s category code isn’t listed as a supermarket. Similarly, you may not earn the gas rewards rate if you fill up at a warehouse club, or the restaurant rewards rate if you dine at a hotel or casino.

When it’s time to redeem your points, use them for travel or cash back in the form of a statement credit to extract the most value (1 cent per point), and avoid merchandise or gift cards that may be worth less.

The More Rewards Card’s Other Benefits

• Rental car collision insurance (secondary to your own policy)
• Refund when a merchant won’t accept a return
• Extended warranties
• Lowest advertised price match 
• Travel and emergency hotline

Customer Experience

Navy Federal offers several customer-friendly perks, including access to your FICO score, 24/7 access to customer service representatives based in the United States, and an instant chat feature on its website. 

Security Features

The More Rewards card offers the ability to instantly freeze your account if you misplace your card and other standard security features such as zero liability for fraudulent charges and fraud alerts. 

Fees

The More Rewards card’s fees are low for a credit card—the $20 late payment fee is a good example of a lower-than-average fee. Navy Federal also waives many common credit card fees including foreign transaction fees, balance transfer fees, and cash advance fees (except when at cash is retrieved from a non-Navy Federal ATM, in which case there is a charge of 50 cents to $1.)