Navy Federal Credit Union Mastercard® Business Card review | finder.com

Navy Federal Credit Union Mastercard® Business Card review – October 2018

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A business credit card that offers competitive APRs and flat rewards on your purchases.

30-second take

  • Get this card if you want a potentially low APR.
  • Pick something else if you want a higher rewards rate.
  • Apply with a good to excellent credit score of 680 or higher.
Product NameNavy Federal Credit Union Mastercard® Business Card
Card TypeMastercard
Annual Fee$0
APR (Annual Percentage Rate) for PurchasesPrime+ 5.90% variable
Rates & FeesRates & Fees
Minimum Age18 years of age
Reward Value per Dollar1 points

The basics

The Navy Federal Credit Union Mastercard® Business Card offers a low range of APRs, lets you earn unlimited points on all purchases and doesn’t come with an annual fee. Unlike other rewards cards where point value varies with the service or product you redeem it for, with this card your points are always worth one cent each.

The perks

  • Low APR.

    You could get one of the lowest variable APRs we’ve seen on purchases: Prime+ 5.90%,depending on your creditworthiness. Other cards have variable APRs that go up to 26%.

  • No annual fee.

    This card comes with a $0 annual fee, making it easy to own long term.

  • Earn unlimited points.

    With every dollar you spend, you earn 1 point. Points can then be redeemed for cash back, gift cards and airline tickets at the value of one cent per point.

How do I redeem Navy Federal Credit Union points?

You can start redeeming points once you have at least 1,000, and all points equal 1 cent no matter what you redeem them for. For example, you can redeem:

  • 3,500 points for a $35 gift card.
  • 5,000 points for $50 cash back deposited to your savings account.
  • 7,500 points for a $75 airline discount.

You’ll also like …

  • No foreign transaction fees.

    You can use this card freely when you travel abroad and you won’t incur any fees. Other cards come with fees of 3% per transaction.

  • Mastercard Easy Savings® Program.

    Get up to 25% back in rebates on purchases from participating merchants. All you need to do is register with the program and you’ll start earning rebates, including 5% on Bing ads, 5% on Avis car rentals, 10% on Park Ride Fly USA airport parking and more.

  • Mastercard Biz.

    After you register with the program, get integrated solutions to help your business save money and time when ordering supplies and computers, arranging travel and more.

What to watch out for

  • No signup bonus.

    This is one of the rare business credit cards that doesn’t have a signup bonus.

  • No intro APR period.

    Most business credit cards offer an intro APR period on purchases and balance transfers, but you won’t get that with this card.

Does the Navy Federal Credit Union Business Card show up on personal credit reports?

No, the credit union doesn’t report activity for this card to consumer credit bureaus.

Consider other cards if …

  • You want cash back.
    Consider the no-annual-fee Ink Business Unlimited℠ credit card. It lets you earn unlimited 1.5% cash back on everything you buy, and you get a long intro APR period on balance transfers and purchases.
  • You want an intro APR period.

    The Blue Business℠ Plus Credit Card from American Express offers one of the longest intro APR periods on balance transfers and purchases when compared to other business credit cards. Plus, you can earn membership rewards points, which you can redeem for travel, gift cards or statement credit.

Compare business credit cards

Updated October 23rd, 2018
Name Product APR (Annual Percentage Rate) for Purchases Introductory Purchase APR Annual Fee
None (Charge Card)
$450
New cardholders can earn 75,000 Membership Rewards® bonus points by spending $10,000 on purchases for the first 50,000 points and then another $10,000 for the next 25,000 points on their new card in the first 3 months.
None (Charge Card)
$0 annual fee for the first year ($250 thereafter)
This charge card gives you the option to pay in full each month or to carry a balance for up to 60 days with no interest.
20.24% variable
$0 annual fee for the first year ($175 thereafter)
Earn 50,000 Membership Rewards® points after you spend $5,000 in qualifying purchases on the Card within your first 3 months of Card Membership.
14.24%, 19.24% or 21.24% variable
0% for the first 9 months (then 14.24%, 19.24% or 21.24% variable)
$0
Save on interest with a 0% intro APR on purchases for 9 months; after that your APR will be 14.24% - 21.24% variable.
14.99% to 20.99% variable
0% for the first 12 months (then 14.99% to 20.99% variable)
$0
$500 bonus cash back after you spend $3,000 in the first 3 months.
17.74% to 22.74% variable
$95
80,000 bonus points after you spend $5,000 on purchases in the first 3 months after account opening. That's $1,000 toward travel rewards when you redeem through Chase Ultimate Rewards®.
17.74% to 24.74% variable
$0 annual fee for the first year ($99 thereafter)
75,000 Bonus points after you spend $3,000 on purchases in your first 3 months from your account opening with your Marriott Rewards Premier Business credit card.
24.74% variable
$0
Get the credit you want for your business, and unlimited 1% cash back on every purchase, every day.
14.74%, 18.74% or 22.74% variable
0% for the first 9 months (then 14.74%, 18.74% or 22.74% variable)
$0
Unlimited 1.5X miles per dollar on every purchase, every day.
18.74% variable
$0 annual fee for the first year ($95 thereafter)
Unlimited 2 miles per dollar on every purchase, every day.
14.74%, 18.74% or 22.74% variable
0% for the first 9 months (then 14.74%, 18.74% or 22.74% variable)
$0
Unlimited 1.5 cash back on every purchase, every day.
18.74% variable
$0 annual fee for the first year ($95 thereafter)
Unlimited 2% cash back from Spark Cash could mean thousands of dollars each year going back into your business. No minimum to redeem.
17.74% to 24.74% variable
$0 annual fee for the first year ($95 thereafter)
50,000 bonus miles after you spend $3,000 on purchases in the first 3 months your account is open.
17.74% to 24.74% variable
0% for the first 9 months (then 17.74% to 24.74% variable)
$99
Earn 2x points on Southwest® purchases and 1x point on all other purchases. Plus 6,000 anniversary bonus points.
17.99% to 25.99% variable
$0 annual fee for the first year ($99 thereafter)
For a limited time, earn 70,000 American Airlines AAdvantage® bonus miles after making $4,000 in purchases within the first 4 months of account opening.

Compare up to 4 providers

What size business is the Navy Federal Credit Union Mastercard® Business Card good for?

This could be a good card for small businesses that want a simple, no-annual-fee card with a low APR on purchases. In addition, you get a 1% return rate on everything you buy, which means you’ll get $500 in rewards if you spend $50,000 annually.

What should I know before I apply?

To apply for this card, you must be a member of the Navy Federal Credit Union and have a Business Membership Savings Account with at least $5. For a new Business Membership Account, you need to deposit $100.

Who can join the Navy Federal Credit Union?

  • Active-duty members of the Marine Corps, Navy, Air Force, Army and Coast Guard
  • Army and Air Force National Guards
  • Members of the Delayed Entry Program
  • Department of Defense officer candidates, reservists, civilian employees and contractors
  • US government employees assigned to Department of Defense installations
  • Members of the ROTC
  • Veterans, retirees and annuitants
  • Family members to any of the above, including grandparents, parents, spouses, siblings, children, grandchildren and household members

What do I need to join?

  • Social Security number
  • Driver’s license or government ID
  • Home address, phone number and email address
  • Credit card or bank account and routing number to fund your account

What credit score do I need?

Apply with a good to excellent credit score of 680 or more. If you have a high credit score and low credit utilization ratio, you can likely get approved for a higher credit line.

What do customers say about the Navy Federal Credit Union Mastercard® Business Card?

Navy Federal Credit Union isn’t accredited with the Better Business Bureau, though it does receive an A- rating as of August 2018. Over 90% of its customer reviews are negative, resulting in a composite score of 3.32 out of 5. Of the nearly 600 complaints filed against the credit union, customers cited difficulty getting unauthorized charges taken off of their account and issues with their credit card payments being reported on time. Other complaints about this card specifically revolved around hidden fees. To avoid this, make sure you read the fine print and ask any questions before applying for this card.

How to apply for the Navy Federal Credit Union Mastercard® Business Card

To apply for this card, you must have an existing business membership. If you don’t, you’ll need to become a member first.

  1. Go to the Navy Federal Credit Union website, hover over Services and click Business Services.
  2. Scroll down to Business Solutions and hit Business Credit Cards.
  3. Under How to Apply, print the application form and complete it with handwritten signatures and initials.
  4. Submit the application along with all the required supporting documents through the Submission Link on that same page.

How long will it take to get my Navy Federal Credit Union Mastercard® Business Card?

It takes two to three business days for Navy Federal to process your application. If approved, you’ll get your card within seven to 10 business days.

I got the card. Now what?

  • Download the Navy Federal Credit Union app. Use it to make payments, find an ATM near you and more. The app is available for Android, iOS and Amazon devices.
  • Register for the Mastercard Easy Savings® Program. To score up to 25% in rebates on purchases from participating merchants, you need to register at the program’s website by providing your card’s information and your email.
  • Register for Mastercard Biz. Visit the Mastercard Biz website and select a business tool that you want to use. Register through the tool’s website, whether it be Priceless™ Cities or Mastercard USA partner signup, to start saving money.
  • Contact customer service. Call 1-888-842-6328 if you have any questions about your card or your bill. You can also reach them on Facebook and Twitter @NavyFederal.

Bottom line

If you’re looking for a low APR credit card for your business, this could be a decent one to consider. But if you often pay your balances on time and you don’t usually benefit from a low APR, you could find a better business credit card that allows you to earn higher rewards on your business’s spending.

Frequently asked questions

Kliment Dukovski

Kliment Dukovski is a writer who specializes in global financial markets and personal finance, with a focus on credit cards. His main goal is to deliver honest and accurate information to help you make the right financial decision. When he's not writing about finance-related subjects, he writes sci-fi stories.

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