After its debut a year ago, Navy Federal Credit Union said this week it is getting very positive results from a 1-1.5% cash rewards program on its credit card.
The no annual fee card, with rates as low as 9.65% provides 1% cash back on up to $10,000 spent by a user in a given year and 1.5% cash back on purchases above $10,000.
Under the program, redemptions can be made into a member's savings or checking account or as a credit to a balance. With a $20 minimum, cash can be redeemed in any amount and there is no expiration date or limits.
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