What makes this credit card different?

As mentioned, this card is unique because it’s only available to qualifying military members, veterans, and their families.

But beyond that, the Navy Federal Platinum card has several unique features that set it apart. These include the following:

It has a very low APR. The standard APR range on this card is substantially lower than your typical credit card. Currently, the range is 10.24% - 18.00%, although this is subject to change. Currently, the average credit card APR is above 20%, which is very competitive.

It has an ultra-low introductory APR for balance transfers. When you open this card and transfer balances from other credit cards within the first 60 days, you can take advantage of 0.99% APR for the first 12 months. You could save money by transferring in other high-interest credit card debt. Plus, there’s no balance transfer fee.

It has very few fees. This card has no annual fee, foreign transaction fee, balance transfer fee, or cash advance fee.

On the negative side, the Navy Federal Platinum card does not earn any rewards on purchases. The main advantage of the card is the lower interest rates and fees.

What are my chances of getting approved?

First of all, you must qualify for Navy Federal Credit Union membership. Again, this requires that you be a military member, retired member, or veteran of the Services — or a qualifying family member of one.

If you pass that hurdle, your approval odds are pretty good. Navy Federal lists this card as good for those with “average or better” credit.

The average credit score is around 700, but individuals with lower scores than that may still qualify.

Of course, each applicant is considered separately based on their credit profile. Navy Federal will evaluate your credit history, income level, and credit usage.

Here’s the good news: If you’re already a Navy Federal member, you can check to see if you’re prequalified for this card. And this process won’t affect your credit at all.

All the details of the Navy Federal Platinum credit card

The Navy Federal Platinum credit card is a standard unsecured credit card. It’s available exclusively to military members, veterans, and their families.

This card’s focus is low fees and low interest rates. You won’t find fancy rewards or luxury perks — but you will find some of the lowest APRs available, plus ultra-low fees.

Here are all the details of the Navy Federal Platinum credit card:

Rates and fees

Perks and rewards

The Navy Federal Platinum card doesn’t earn rewards. You won’t earn any rewards on purchases or balance transfers.

Again, this card’s main perk is its low interest rates. But other perks include:

• No annual fee
• No foreign transaction fee
• No balance transfer fee (this is unique!)
• No cash advance fee (this is unique!)
• 0.99% APR on balance transfers for the first 12 months (balance must be transferred within the first 60 days)

How to apply

First, make sure you qualify for Navy Federal Credit Union membership. Their requirements can be found here.

If you do qualify, you can go ahead and join Navy Federal. Navy Federal is a credit union that offers checking and savings accounts, loan products, credit cards, and more.

Once you’ve joined, you can see whether you’ll prequalify for the Platinum credit card. Checking your prequalification status will not affect your credit score. If you are prequalified, you can proceed with your application.

Navy Federal will ask for personal information, including:

• Your name and address
• Your Social Security number
• Your military status
• Your income information

Alternatively, you can apply for this credit card directly. Again, doing this is only worth it if you qualify for Navy Federal membership. If you don’t qualify for membership, your application will be rejected, even with good credit.

Contact info

This credit card is issued by Navy Federal Credit Union, a member of NCUA.

Phone support is available 24/7 by calling 1-888-842-6328.

Chat, secure messaging, and other support methods are also available. See Navy Federal’s website for details.

Navy Federal’s mailing address is:

Navy Federal

P.O. Box 3000

Merrifield, VA 22119-3000

Other stuff you should know

Navy Federal is a full-service credit union. This means they offer almost everything a normal bank offers, from mortgage loans to checking accounts.

The main difference is that their services are available exclusively to military members and their families.

If you qualify, this is an excellent credit union to join — and the Navy Federal Platinum credit card is an excellent card to use.

The Platinum card is a particularly excellent balance transfer credit card. The Platinum could be a good fit for you if you have debt on other credit cards.

Why? Three reasons:

• There’s no balance transfer fee (most cards charge 3-5%)
• There’s a 0.99% APR promo for the first 12 months of card membership
• Even after the 12 months, the APRs on this card are very competitive

For example, if you have debt on another card paying 20% APR, you could open the Platinum and transfer over the debt. You’d pay no balance transfer fee and enjoy the 0.99% APR for the first 12 months. After that, the APR would be in the standard range for this card — but likely still lower than what you’d be paying with another card.

Finally, remember that this card has no rewards program. If you’d like to join Navy Federal and earn rewards, they offer a few other cards. These include the following:

• Navy Federal More Rewards
• Navy Federal Cash Rewards
• Navy Federal Go Rewards

All of these cards could be a great fit — just be sure to consider what your primary goal is. If you want the lowest interest rate, go with the Platinum card.

Alternative credit cards to the Navy Federal Platinum credit card

Citi Double Cash Card

Features of the Citi Double Cash Card include:

• 2% cash back on purchases
• Uncapped rewards

Destiny Credit Card

Features of the Destiny Credit Card include:

• Designed for building credit
• Easy to get approved for, even with poor credit

American Express Platinum‍

Features of the American Express Platinum card include:

• Premium travel and rewards features
• Annual fee is waived for military members

Self Credit Card‍

Features of the Self Credit Card include:

• Secured credit card (requires a deposit)
• Useful for building credit

Final recommendation

The Navy Federal Platinum credit card is an excellent option if you qualify for it. Again, you must meet the Navy Federal membership eligibility requirements to join and apply for the card.

If you do qualify, this card is an excellent option. You can find the perfect credit card with the Kudos Explore Cards feature if you don't.

And to get the most out of all your credit cards when shopping online, sign up for Kudos, the browser extension that helps you maximize rewards and credit card perks on every purchase.