How to get approved for navy federal business credit card

Navy Federal Credit Union Business Credit Card Review

Key Takeaways

• Competitive APRs. Navy Federal Credit Union Business Credit Card has a variable purchase APR that ranges from 5.9% up to 18%.
• No annual fee*. This is a great option for people looking for a low-maintenance rewards card. It gives you rewards on your purchases, but you don't have to pay an annual fee for the privilege.
• Charges foreign transaction fees. Avoid using this card when traveling abroad because it charges a commission of 1% every time you make a transaction outside the U.S.
• Fair or better credit required. You will have good approval odds if your credit score is above 650.

Pros & Cons of Navy Federal business credit card

Navy Federal business credit card FAQ

Who is Navy Federal business credit card designed for?

This is a credit card issued by Navy Federal Credit Union. 

This business card is designed for small businesses with fair credit. The minimum credit score to apply is 650.

What are the relevant APRs?

This business credit card has a variable purchase APR that ranges from 5.9% up to 18%. The card has a variable balance transfer APR that ranges from 5.9% up to 13.9%.

It also has a variable cash advance APR that ranges from 7.9% up to 18%. Note that late payments are subject to an APR of 18% if you are late or miss your payments. Typically, the penalty APR applies for a minimum of six months but can go on indefinitely.

Does it have an introductory APR offer?

No, this business card does not come with an introductory APR offer for balance transfers.

This business credit card does not offer an introductory rate on new purchases.

What fees does it charge?

The following fees apply to this business credit card:

• There is no annual fee.
• A late payment penalty of up to $20.
• A returned payment fee of up to $20.

Does it charge a foreign transaction fee?

This business card charges a foreign transaction fee of 1%. For example, if you spend $2,000 on a week vacation abroad you would pay a foreign transaction fee of $20. If you travel abroad you may want to leave this business card at home and apply for one that doesn't charge a foreign transaction fee.

Does it offer a cash back rewards program?

Yes, Navy Federal business credit card offers a rewards program to its customers. This business card offers rewards to small business owners that use the card to make purchases in the following bonus categories:

• Every Purchase

Does it have a sign up bonus?

This business credit card doesn't offer a cash signup bonus.

Does it offer an annual loyalty bonus?

This business card doesn't offer a cash loyalty bonus.

Can I get it with just an employer identification number (EIN)?

You can apply for this business credit card with your EIN number, but expect the credit card issuer to also require your Social Security number. This is because, as with most business cards, it requires you to personally guarantee the line of credit.

What are the benefits?

This business credit card provides the following benefits:

• Fraud Liability
• Reports to major credit bureaus

What is the customer service phone number?

The customer service number for this business card is .

What is the support contact email?

The support contact email for this business credit card is .

How do people rate the customer service and user experience?

Overall, this business credit card is strongly recommended based on community reviews that rate customer service and user experience.

Does Navy Federal Credit Union Business Credit Card report your account activity to credit bureaus?

Yes, Navy Federal Credit Union Business Credit Card reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

How to apply?

• Visit the Navy Federal Credit Union .
• Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, annual income, and source of employment.
• Check the information is accurate and submit your application.
• If you're denied click here to find out why your application may have been rejected and what you can do about it.

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