The More Rewards American Express card offers a simple and generous reward structure. It offers the possibility of earning three points per dollar in bonus categories and one point per dollar on purchases outside these categories. There is no limit to the rewards you can earn.
Categories earning 3 points per dollar spent include:
- Restaurants and food delivery
- Gas and transit
Navy Federal Credit Union points can be redeemed at a fixed value of one cent per point for a variety of rewards including cash back, airline tickets, hotels, car rentals, cruises, merchandise, gift cards and tickets to events.
Cash Back Rewards start at 5,000 points for a $ 50 credit to your Navy Federal Savings Account and are generally the easiest and most common rewards redemption option for most cardholders.
Navy Federal Credit Union More Rewards American Express rewards earning potential comes primarily from spending in bonus categories that earn 3 points per dollar spent.
Using data from various government agencies, Forbes Advisor has developed estimates of how much a family in the 70th income percentile spends each year in various categories. The 70th percentile of salaried households report $ 100,172 per year and $ 26,410 in expenses can be billed to credit cards. These numbers are used to estimate the potential rewards of that credit card.
This card earns three points per dollar in its bonus categories, which include restaurants and food delivery, supermarkets, gasoline, and public transportation. Our example household spends $ 5,687 on groceries each year, $ 4,406 in restaurants and $ 2,687 on gasoline. Assuming all of your spending in these bonus categories is billed to the More Rewards card, you could earn 38,340 points.
While you can earn more points by using a credit card that earns you 2% cash back or two points per dollar for all your other expenses, the simplicity of having just one credit card has value. If you put all of your non-bonus spending on this card, you could earn 13,630 points.
Between bonus categories and general expenses, you could earn 51,970 points, or $ 519.70 in value for using this card in the first year. That’s incredible value for a no annual fee credit card.
Finally, Navy Federal Credit Union is currently offering a welcome bonus of 20,000 points after spending $ 3,000 on the card in the first three months.