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Up to 1x
Points
$0
Annual fee
as low as 11.4%
Purchase APR (variable)
670
Recommended credit score
Review by
Kliment Dukovski is a credit cards writer. He's written over 600 articles to help readers find and compare the best credit cards. Kliment has also written on money transfers, home loans and more. Previously, he ghostwrote guides and articles on foreign exchange, stock market trading and cryptocurrencies.
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 worth one cent each across the board.
To apply for this card, you must have an existing business membership. If you don’t, you’ll need to become a member first.
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.
You could get one of the lowest variable APRs we’ve seen on purchases: as low as 11.4%, depending on your creditworthiness. Other cards have variable APRs that go up to 26%.
This card comes with a $0 annual fee, making it easy to own long term.
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.
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:
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.
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.
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.
This is one of the rare business credit cards that doesn’t have a signup bonus.
Most business credit cards offer an intro APR period on purchases and balance transfers, but you won’t get that with this card.
No, the credit union doesn’t report activity for this card to consumer credit bureaus.
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.
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.
Apply with a good to excellent credit score of 670 or more. If you have a high credit score and low credit utilization ratio, you can likely get approved for a higher credit line.
Navy Federal Credit Union isn’t accredited with the Better Business Bureau, though it does receive an A+ rating as of October 2020. Over 90% of its customer reviews are negative, resulting in a composite score of 3.32 out of 5. Of the nearly 900 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.
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.