Navy Federal Credit Union Platinum Credit Card* vs. Citi® Double Cash CardIf you’re looking for a balance transfer card that has staying power long after a balance transfer, look to a card like the Citi® Double Cash Card. It earns 2% cash back on all purchases—1% when purchases are made and another 1% when they’re paid off. Show
The card has an annual fee of $0 and comes with an introductory APR offer: 0% intro APR on balance transfers for 18 months. After that, the standard variable APR will be 16.99% - 26.99%, based on creditworthiness. There is also an intro balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater, completed within the first 4 months of account opening. After that, the fee will be 5% of each transfer (minimum $5). However, you should be aware that if your credit isn’t strong, you may not be approved for the card. Navy Federal Credit Union Platinum Credit Card* vs. U.S. Bank Visa® Platinum Card*If you’re looking for a longer runway to pay off a big purchase or shed existing debt, the U.S. Bank Visa® Platinum Card* could be a top-notch choice. This no-annual fee card has one of the longest balance transfer offers you’ll find: 0% intro APR on purchases and balance transfers for 18 billing cycles, followed by a variable APR of 17.49% -27.49%. A balance transfer fee of either 3% or $5 applies, whichever is greater. Beyond that extra-lengthy intro offer, the card doesn’t have much else to offer. Although it does offer supplemental cell phone protection if you pay your bill with the card, there are no rewards, welcome bonus or other lucrative perks to make this card a wallet staple beyond the introductory period. Full Review of Navy Federal PlatinumPros
Cons
Pros Explained
Cons Explained
The Navy Federal Platinum card is primarily designed for people who want to take advantage of its low interest rate. If you tend to carry a balance from month to month or need a backup to your emergency savings, this card can be great for that. It can also be useful for balance transfers when you first get the card. If you want a card for regular use, however, and typically pay your balance in full each month, it may make sense to get a credit card that offers rewards. Platinum Card’s Outstanding Benefits
Standard Benefits
Cardholder ExperienceNavy Federal Credit Union received the highest score among midsize card issuers in the J.D. Power 2021 U.S. Credit Card Satisfaction Study. The credit union earned 866 points out of 1,000. The average score was 796. With the highest score, it would have been first, but J.D. Power does not officially include it in the rankings. Navy Federal offers 24/7 customer service, as is standard for major credit card issuers. You’ll also get access to your FICO credit score, which is a valuable feature to help you monitor your credit. Some other national card issuers offer this benefit, but not all. Security FeaturesYou can lock and unlock your card from the Navy Federal mobile app, which can help you prevent fraud if you lose your card or someone steals it. Other security features are standard for the industry. Fees to Watch Out ForThe Navy Federal Platinum card’s fees are lower than what you can generally expect from a credit card. It waives the cash advance fee for advances requested at one of its branches or ATMs. You also won’t pay a fee on foreign transactions. The card’s fees for late and returned payments are also relatively low, with a $20 cap. Our VerdictConsider the Navy Federal Platinum card only if you want to use it for its potentially low interest rate, depending on your creditworthiness. The card’s other features don’t provide a lot of value, considering that you can get them with many other credit cards. Also, there’s a very limited rewards program, which can mean leaving money on the table if you regularly pay off your monthly bill in full. But if you typically carry a balance or want a card for emergencies (and you’re eligible for Navy Federal Credit Union membership), it could be a solid choice. Investopedia Credit Card Rating Methodology Investopedia is committed to delivering the best credit card recommendations in the industry. We’ll tell you when a card is good, we’ll tell you when a card is bad, and we’ll only call a card the best if we would recommend it to our friends or family members. Overall Star Rating Explained To rate credit cards we objectively assess, score and weight nearly 100 individual card features which roll up into five major feature sets: fees, interest, rewards, benefits and security/customer service. Here’s how we weighted those feature sets for the overall star rating of a card: We have applied our proprietary rating methodology to every generally-accepted credit card in the U.S. domestic market to allow consumers to make fully informed choices. It’s important to note that for our overall score that we make a number of assumptions about how you would be using your credit card:
What is the credit limit on a Navy Federal platinum card?The Navy Federal Platinum Credit Card credit limit is between $500 and $50,000. Everyone who gets approved for the Navy Federal Platinum Credit Card is guaranteed a credit limit of at least $500, but the higher an applicant's credit score and income are, the higher the starting credit limit is likely to be.
How do I get a high limit credit card with Navy Federal?The easiest way you can get a Navy Federal credit limit increase is through your online account. Alternatively, you can request a credit limit increase either by sending a secure message or by calling customer service at (888) 842-6328.
Is Navy Fed Platinum Card worth it?With a low interest rate, the Navy Federal Platinum card could be a solid option for people who regularly carry a balance or need a credit card for emergencies. However, there's no guarantee you'll qualify for its lowest APR, and the card doesn't offer many other perks to make up for it.
What is the limit for Navy Federal Credit Union?Limits. The standard daily transaction limit for purchases is $5,000. The daily cash limit is $1,000, including cash at an ATM, manual cash at a financial institution, or as cash back with a purchase at participating merchants.
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