Best Navy Federal balance transfer credit cards of 2018

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In a Nutshell

If you’re a member (or eligible to become a member) looking to transfer a credit card balance to save on interest or consolidate payments, the Navy Federal Credit Union® Platinum credit card, nRewards® Secured credit card and Visa Signature® cashRewards credit card might be a great fit thanks to their $0 balance transfer fees.

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With no balance transfer fees and no annual fees, one of these Navy Federal Credit Union® credit cards could be worthy of a spot in your wallet, depending on what you’re looking for in a balance transfer card. Keep in mind though, that as it’s a credit union, Navy Fed only offers its cards to members.

    1. Best for intro APR: Navy Federal Credit Union® Platinum card
    2. Best for rewards: Navy Federal Credit Union® Visa Signature® cashRewards
    3. Best for building credit: Navy Federal Credit Union® nRewards® Secured card
    4. Heads up: What to consider when applying for a Navy Federal Credit Union® balance transfer card
    5. Bottom line: Which card is right for you?

At a glance: Best balance transfer cards from Navy Federal Credit Union®

Navy Federal Credit Union® Platinum Navy Federal Credit Union® nRewards® Secured card Navy Federal Credit Union® Visa Signature® cashRewards
Annual fee $0 $0 $0
Balance transfer fee $0 $0 $0
APR
  • 0% intro APR on balance transfers for 12 months (for balance transfers made within 30 days of account opening), then variable APR of 7.74%–18%
  • 7.74%–18% variable APR for purchases
10.74%–18% variable APR for purchases and balance transfers 11.4%–18% variable APR for purchases and balance transfers
Rewards None 1 point for every $1 spent on purchases, which can be redeemed for cash back, gift cards and merchandise 1.5% cash back on purchases
Sign-up bonus None None $100 cash back after spending $1,000 in purchases within 90 days of account opening

 


Best for intro APR: Navy Federal Credit Union® Platinum card

When it comes to the best Navy Federal balance transfer offer, the Navy Federal Credit Union® Platinum credit card takes first place.

There’s a 0% intro APR for 12 months on balance transfers requested within the first 30 days your account is open, giving you a window of time to pay down your transferred balance without being charged interest on it. Once the intro period ends, you’ll be charged a variable APR of 7.74% to 18% on balance transfers.

Be careful about charging anything new to the Navy Federal Credit Union® Platinum credit card while you’re paying down a transferred balance. The intro APR only applies to balance transfers, and you’ll be charged interest on any new purchases you make with the card (unless you pay your credit card balance — including any transferred balances — on time and in full each month).

Is carrying a credit card balance good or bad?

Best for rewards: Navy Federal Credit Union® Visa Signature® cashRewards credit card

It doesn’t have an intro APR offer for balance transfers, but the Navy Federal Credit Union® Visa Signature® cashRewards card does offer no annual fee and no balance transfer fee. (Just know that all balance transfers will be subject to a variable APR of 11.4% to 18%.)

Before you decide to transfer a balance to the Navy Federal Credit Union® Visa Signature® cashRewards card, confirm that you’re approved for a balance transfer APR that is lower than the balance transfer APR on your current credit card. Without a lower balance transfer APR, you won’t be saving money on interest charges.

Where this card outshines the other Navy Fed cards on our list is right there in the name: cashRewards.

The card offers 1.5% cash back on purchases. And if you’re looking for a sign-up bonus, the Navy Federal Credit Union® Visa Signature® cashRewards card offers $100 cash back when you spend $1,000 on purchases within the first 90 days of account opening.

Do balance transfers hurt your credit scores?

Best for building credit: Navy Federal Credit Union® nRewards® Secured card

If you’re looking to build your credit and consolidate debt with minimal fees, the Navy Federal Credit Union® nRewards® Secured card could be an option for you.

Balance transfers to this card have a variable APR of 10.74% to 18% from the start, so you should check that the balance transfer APR you’re approved for is lower than the balance transfer APR on your current card. If it’s not, you won’t save money on interest.

As a secured card, the Navy Federal Credit Union® nRewards® Secured requires an initial deposit of at least $500 into a qualifying Navy Federal savings account, which will be held while your account is open.

It also earns you one rewards point for every $1 spent on purchases — which is notable, as not all secured cards offer rewards.

How do secured credit cards work?

Heads up: What to consider when applying for a Navy Federal balance transfer credit card

Even though these Navy Federal Credit Union® cards don’t charge balance transfer fees, you’re still responsible for paying interest on the balance you transfer to a Navy Federal card. Interest will begin piling onto your transferred balance the day the transaction posts to your account.

The exception, of course, is with the Navy Federal Credit Union® Platinum card, which gives you that 12-month intro APR before interest starts accruing on the balance you’ve transferred.

For all three credit cards, you’ll need to request any balance transfers within 30 days of opening a new account can’t be more than your credit card limit, and a single balance transfer can’t be more than $30,000.


Bottom line: Which card is right for you?

When it comes to figuring out which card is right for you, ask yourself what you’re trying to accomplish with a balance transfer. If your main goal is to consolidate debt and save money on interest, then the Navy Federal Credit Union® Platinum card might be the best fit.

But if you’re looking for a credit card that offers balance transfers with no balance transfer fee, plus additional perks — like the chance to build credit or earn cash back — then you may be better off with one of the other two cards. But before you transfer a balance, make sure that your balance transfer APR is lower than the one you have now. If not, another balance transfer credit card might make more sense.

Also, before you apply, you’ll want to make sure you’re eligible to become a member with Navy Federal Credit Union.


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