The has an updated offer. This is not the highest ever, but it’s still higher than the “standard” offer. The rewards points are now directly redeemable for cash statement credits (not only offsetting travel). Offer expires 2/29/24. The highlights:
- 35,000 bonus points when you spend $3,000 within the first 90 days of opening a new card. 35,000 points can be redeemed for a $350 statement credit.
- Free year of Amazon Prime membership. Use the card to purchase an Amazon Prime annual membership, and they’ll reimburse you ($139 value).
- 3X points per net dollar spent on travel.
- 2X points per net dollar spent on everything else.
- Global Entry or TSA PreCheck fee credit (up to $100), once every 4 years.
- No foreign transaction fees.
- $49 annual fee.
The catch here is that in order to apply, you must first become a NavyFed credit union member. for NavyFed now goes beyond current and retired members of the armed forces to include their , Department of Defense personnel and more.
Each point is worth $0.01, with a minimum redemption 5,000 points = $50 statement credit. Therefore, this card could be considered the equivalent of a 2% cash back card on everything with the added perks of 3% cash back on travel. The drawback is that $49 annual fee, although you could consider that offset by the upfront bonus points, free first year of Amazon Prime membership, and/or $100 TSA PreCheck credit. 4,900 points would directly offset the $49 annual fee.
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