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Credit Union Deals? Navy Holds The Cards

Navy Federal Credit Union offers APRs well below the national average.If you’re looking for great credit card rewards — as well as super-low interest rates and no fees — Navy Federal Credit Union has some of the best deals on the market.

Navy — the largest credit union in the country, with nearly 4 million members — has several varieties of no-fee credit cards, all of which carry APRs in the single digits, if you qualify for those rates.

They also have no balance transfer fees, so they’re ideal for moving a higher-rate balance.

Despite its name, Navy FCU is open not just to naval personnel.

Many groups are eligible (check out for a full list), including members of all branches of the U.S. armed services, active and retired, plus all civilian employees of the Department of Defense, even contractors who work on U.S. military bases.

It’s also open to family members, including grandchildren, stepchildren and adopted children.

In other words, you may qualify for membership and not even know it. Maybe your grandfather served in the Army — he qualifies for membership, so you do, too.

If you want straight cash, the cashRewards credit card pays you 1% back on your first $10,000 of annual purchases, 1.5% on all purchases after that. The APR is as low as 9.65%, which is the highest APR among the cards mentioned here.

If you’d rather earn points redeemable for merchandise, gift cards and travel-related certificates, then you might be interested in the nRewards credit card. (You earn one point for every dollar you spend, and points can be redeemed as soon as you earn 2,000 points, which is enough for a $10 gift card at Starbucks or Applebee’s.

If you’re interested in the lowest APR possible, such as for transferring a balance, the Navy Platinum credit card may be a better fit.

The APR on that card is as low as 7.99%, plus there’s no balance transfer fee. However, there are no purchase rewards.

Navy also has some travel rewards credit cards, although those carry a modest annual fee. It even has a secured card.

But Navy offers more than great credit cards.

It also offers many of the same products you can get at your local bank, from CDs and savings accounts to mortgages to IRAs — just with better rates and much lower fees.

Compare these deals with the best credit card offers in our extensive database.

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