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Navy Federal Platinum Credit Card review

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Get a low ongoing APR starting from 7.49% variable.

  • Get this card if you want to save money on interest payments.
  • Pick something else if you want to earn rewards on your purchases.
  • Apply with a fair credit score of 580 or higher.

$0

Annual fee

1.99%

Intro purchase APR

for the first 12 months (then 7.49% to 18% variable)

1.99%

Intro balance transfer

for the first 12 months (then 7.49% to 18% variable)

7.49% to 18%

Balance transfer APR (variable)

Details

Product NameNavy Federal Platinum Credit Card
Annual fee$0
Purchase APR1.99% intro for the first 12 months (then 7.49% to 18% variable)
Balance transfer APR1.99% intro for the first 12 months (then 7.49% to 18% variable)
Balance transfer feeNone
Cash advance rate9.49% to 20% variable
Cash advance feeNone
Cash advance fee descriptionNone if performed at a Navy Federal branch or ATM. Otherwise, $0.50 per domestic transaction or $1.00 per foreign transaction.
Penalty APR18% variable
Foreign transaction feeNone
Interest free periodUp to 25 days
Late payment feeUp to $20
Returned payment feeUp to $20

Expert review

Kliment Dukovski

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.

Expert review

The Navy Federal Platinum Credit Card offers one of the lowest interest rates on purchases and balance transfers ranging from 7.49% to 18% variable. Plus, there are no balance transfer fees and there’s no annual fee. Cash advances also come with a $0 fee if you withdraw from a Navy Federal branch or ATM, or you’ll pay $0.50 for domestic transactions.

There’s also a 1.99% intro APR period on balance transfers and purchases for the first 12 months. However, you don’t get to earn any rewards on your purchases or a bonus when you sign up.

Another card with a potentially low APR

Citi Rewards+℠ Card

  • The Citi Rewards+℠ Card - the only credit card that automatically rounds up to the nearest 10 points on every purchase - with no cap.
  • Earn 15,000 bonus points after you spend $1,000 in purchases with your card within 3 months of account opening; redeemable for $150 in gift cards at thankyou.com
  • 0% Intro APR on balance transfers and purchases for 15 months. After that, the variable APR will be 13.49% - 23.49%, based on your creditworthiness. Balance transfer fee — either $5 or 3% of the amount of each transfer, whichever is greater.
  • Earn 2X ThankYou® Points at Supermarkets and Gas Stations for the first $6,000 per year and then 1X Points thereafter. Plus, earn 1X Points on All Other Purchases.
  • The standard variable APR for Citi Flex Plan is 13.49% - 23.49%, based on your creditworthiness. Citi Flex Plan offers are made available at Citi's discretion.
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How to apply for the Navy Federal Platinum Credit Card

You must be a Navy Federal Credit Union member before you apply. Once you are, here’s what to do:

  1. Visit the Navy Federal Credit Union website and sign in to your account.
  2. Locate the Navy Federal Platinum Credit Card.
  3. Click Apply and fill out the application form.
  4. Review the form and submit.

Navy Federal Credit Union membership eligibility

If you belong to any of the following groups, you are eligible for Navy Federal Credit Union membership:

  • Active duty, retired or a veteran.
    Army, Marine Corps, Navy, Air Force, Coast Guard, Delayed Entry Program (DEP), Air National Guard, DoD reservists and DoD officer candidate/ROTC.
  • Department of Defence civilians.
    DoD civilian employees, US Government employees assigned to DoD installations, DoD contractors, DoD civilian retirees and annuitants.
  • Family members.
    Parents and grandparents, Spouses, Siblings, Children and grandchildren and Household members.

Note: Your NFCU membership is for life. If you ever transition from military to a civilian carrier, keep your NFCU account open. Otherwise, you’ll need to meet the eligibility criteria again.

What credit score do I need?

Increase your chances of approval with a fair credit score of 580 or higher. Having a higher credit score can land you lower interest rates.

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Harborstone Credit Union Cash Rewards American Express® Card
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CardMatch™ from creditcards.com
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Bottom line

If you have fair credit score and you’re looking for a credit card with low interest rates, the Navy Federal Platinum Credit Card should be on the top of your list. But if you always pay your balance on time or if you have a good credit score or higher, consider other no-annual-fee cards with rewards.

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