Navy Federal GO BIZ® Rewards Credit Card Review
Tricia has nearly two decades of experience in commercial and federal government lending. Her expertise is highlighted throughout small business loan content on Fit Small Business.
Nancy Fernandez is a Credit Card and Insurance Expert at Fit Small Business, specializing in business credit cards and business insurance.
This article is part of a larger series on Best Small Business Credit Cards.
The Navy Federal GO BIZ® Rewards Credit Card is a small business credit card best for those wanting to get rewards from their business purchases. It offers 1x point per dollar spent on eligible net purchases or the sum of your eligible purchase transactions minus returns and refunds. Besides that, it can be either a Visa or Mastercard, ensuring cardholders the best features from either processor. However, only members of the Navy Federal Credit Union can apply for it.
If you wish to compare one card over another, choose a maximum of three cards on this page and click Add to compare to view the details in a side-by-side comparison.
Navy Federal Go Biz® Rewards Credit Card
BEST FOR:
Navy Federal Credit Union members wanting to get rewards from business purchases
Intro APR
None
Regular APR
10.65% (Prime rate + 5.9%) to 18% (Prime rate + 13.9%) variable
Annual Fee
None
Credit Needed
Excellent
- 1X point per dollar spent on eligible net purchases
Pros
- No annual and foreign transaction fees
- Can redeem rewards in various ways
- Available in more than 30 states
Cons
- Only available for Navy Federal Credit Union members
- Low rewards rate
- No interest-free financing option for purchase and balance transfers
- No introductory rewards
- Visa SavingsEdge: A unique feature that lets Visa® cardholders save on business expenses with Everyday Offers, which will become automatically available to you after enrolling.
Intro APR
None
Regular APR
10.65% (Prime rate + 5.9%) to 18% (Prime rate + 13.9%) variable
Annual Fee
None
Credit Needed
Excellent
- 1X point per dollar spent on eligible net purchases
Pros
- No annual and foreign transaction fees
- Can redeem rewards in various ways
- Available in more than 30 states
Cons
- Only available for Navy Federal Credit Union members
- Low rewards rate
- No interest-free financing option for purchase and balance transfers
- No introductory rewards
- Visa SavingsEdge: A unique feature that lets Visa® cardholders save on business expenses with Everyday Offers, which will become automatically available to you after enrolling.
How We Evaluate Cash Back Business Credit Cards
When grading cash back business credit cards like the Navy Federal GO BIZ® Rewards Credit Card, we give the most weight to ongoing rewards and rate introductory rewards slightly less. We also consider the annual fee, introductory and ongoing annual percentage rates (APRs), and additional card benefits.
Grading Criteria | Card Score | Highest Possible Score |
|---|---|---|
Ongoing Rewards | 20 | 30 |
Introductory Rewards | 0 | 20 |
Annual Fee | 15 | 15 |
Additional Features | 15 | 15 |
Introductory APR | 05 | 10 |
Ongoing APR | 10 | 10 |
Total Score | 65 | `100 |
Who the Navy Federal GO BIZ® Rewards Credit Card Is Best For
- Navy Federal Credit Union members wanting to get rewards from business purchases: Members who want to get rewards on business purchases may want to consider getting this business credit card. Rewards can be redeemed for airline tickets, credited to your savings account, and for gift cards and certificates.
If this card doesn’t fit your needs, then head over to our guide on the best small business credit cards. You may also want to check our Credit Card Marketplace to see our evaluation of other business credit cards.
Navy Federal GO BIZ® Rewards Credit Card Fees
APR
- Introductory APR: None
- Ongoing APR for purchases, balance transfers, and convenience checks: 10.65% (prime rate + 5.9%) to 18% (prime rate + 13.9%) variable; adjusts with the prime rate
- Cash advance APR: 2.0% above your variable APR, not to exceed 18.0%; adjusts with the prime rate
- Penalty APR: Prime rate + 11.0%, not to exceed 18.0% variable; adjusts with the prime rate
- Due date: At least 25 days after the close of each billing cycle
Fees
- Annual fee: None
- Foreign transaction fee: None
- Cash advance fee: None if performed at a Navy Federal branch or ATM; otherwise, 50 cents per domestic transaction or $1 per foreign transaction
- Late payment, returned payments, and returned convenience check fees: $20
- Convenience check stop range fee: $10
- Convenience check stop payment fee: $6.50
Navy Federal GO BIZ® Rewards Credit Card Rewards
- 1x point per dollar spent on eligible net purchases. Net purchases mean the sum of your eligible purchase transactions, minus returns and refunds. These eligible transactions exclude the following: cash advances, convenience checks, balance transfers, gambling, and fees of any kind.
While points don’t have any monthly or annual caps, these will expire within four years from the month in which they were earned, so long as the account is open. Points can be redeemed either through online banking at https://www.navyfederal.org/ or by calling (855) 575-4642.
Rewards can be redeemed for the following:
- Airline tickets: Cardholders can redeem points for a scheduled ticket on a major airline carrier, provided that the fares, schedules, and the ability to generate a ticket can be made through the Global Distribution System (GDS).
Here’s a sample of the rewards that cardholders can get:
- 15,000 points for a $150 round-trip airline ticket
- 30,000 points for a $300 round-trip airline ticket
- 50,000 points for a $500 round-trip airline ticket
- Cash back rewards: Cardholders can redeem for cash back on a per-point basis, such as 10,000 points for $100, credited to their savings account. Here are the number of points needed to redeem each cash back reward:
Number of Points | Cash Back Equivalent |
|---|---|
5,000 points | $50 |
10,000 points | $100 |
15,000 points | $150 |
20,000 points | $200 |
25,000 points | $250 |
30,000 points | $300 |
35,000 points | $350 |
40,000 points | $400 |
45,000 points | $450 |
50,000 points | $500 |
75,000 points | $750 |
100,000 points | $1,000 |
- Gift cards and certificates
- Car rentals
- Hotels
- Cruises and vacation packages
- Tours and attractions
- Event tickets
How To Make Payments on the Navy Federal GO BIZ® Rewards Credit Card
- Mobile app: You can pay your credit card bills through the Navy Federal mobile app, which is available for Android and iOS users. Follow the instructions provided on its website to complete your payment.
- Online: You can also make your payments on its online banking website. Maintain an active Navy Federal online account to pay your credit card bills seamlessly.
- In-person: You can pay your credit card bill by visiting the nearest branch in your area.
- Mail: Send your Visa or Mastercard check payments to the following address:
PO Box 3500
Merrifield, VA 22119-3500
Navy Federal GO BIZ® Rewards Credit Card Features
As this business credit card can be either a Visa or Mastercard, you receive the benefits typically associated with them.
Visa Features
- Visa SavingsEdge: A unique feature that lets Visa® cardholders save on business expenses with Everyday Offers, which will become available to you automatically after enrolling. You can save up to 15% on qualifying business purchases from participating merchants, including travel services, information technology solutions, shipping services, and restaurants.
Mastercard Features
- Microsoft Advertising Discount: Get a $125 advertising credit after spending $10 with Microsoft Advertising.
- Salesforce Essentials Discount: Get Salesforce Essentials, which puts sales and customer support management in a single app, for only $9.99 per user, per month.
- Zoho Social Discount: Zoho Social can help you build, manage, and measure your business’s reach across networks. Get a 50% discount on your first year of subscription.
- Collision Damage Waiver – MasterRental®: Use your card when you rent a car for 31 consecutive days or less and gain Collision Damage Waiver (CDW) coverage automatically.
- Mastercard Airport ConciergeTM: Enjoy 15% savings on Airport Meet & Greet services that provide you with a personal escort for departures and arrivals at over 450 destinations worldwide.
- Intuit® QuickBooks® Online Discount: Sign up for a 30-day free trial and save up to 50% discount on QuickBooks Online products.
- Intuit TurboTax® Discount: Save up to $20 on TurboTax, a best-selling tax preparation software.
Pros & Cons of the Navy Federal GO BIZ® Rewards Credit Card
| PROS | CONS |
|---|---|
| Has no annual and foreign transaction fees | Is only available for Navy Federal Credit Union members, which would mean that either you or one of your family or household members must have ties to the armed forces, United States Department of Defense (DoD), or National Guard |
Can redeem rewards in various ways:
|
Has a low rewards rate at a 1x point per dollar ratio, compared to other business credit cards |
| Available in Washington, D.C., and the following states: Alabama, Arizona, California, Connecticut, Florida, Georgia, Hawaii, Illinois, Kansas, Kentucky, Louisiana, Maryland, Mississippi, Missouri, Nebraska, Nevada, New Jersey, New Mexico, New York, North Carolina, New Mexico, Ohio, Oklahoma, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, and Virginia | Doesn’t offer any interest-free financing option for purchases and balance transfers |
| Lacks enticing welcome rewards for new cardholders | |
Navy Federal GO BIZ® Rewards Credit Card Alternatives
American Express Blue Business CashTM
The American Express Blue Business CashTM card is our best cash back business credit card as it offers 2% cash back on all eligible purchases worth up to $50,000 per calendar year, then 1% after that. It offers interest-free financing on purchases of 0% for the first 12 billing cycles after opening an account and has a welcome offer of a $250 bonus statement credit after spending $3,000 in qualifying purchases within the first three months after opening an account.
American Express Blue Business Cash™ Card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Those who want better cash back rewards
Intro APR
0% on purchases
Regular APR
17.74% - 25.74% Variable
Annual Fee
No annual fee
Credit Needed
Good, Excellent
- Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
- Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. Cash back earned is automatically credited to your statement.
- From workflow to inventory to floor plans, your business is constantly changing. That’s why you’ve got the power to spend beyond your credit limit with Expanded Buying Power.
- Just remember, the amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to us and other factors.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 17.74% - 25.74%, based on your creditworthiness and other factors as determined at the time of account opening.
- No Annual Fee
- Terms Apply
Pros
- 0% intro APR
- Welcome bonus
- Fixed rate rewards
- No annual fee
Cons
- Cash advance isn’t allowed
- Charges foreign transaction fees
- 2% cash back is capped at $50,000 in annual spending
- Expanded buying power: Enjoy flexible buying power when your business needs it. Expanded buying power gives you the freedom to spend beyond your credit limit and help get business done. While the amount you can spend above your credit limit isn't unlimited, it adjusts with your use of the card, your payment history, credit record, financial resources known to us, and other factors.
- Car rental loss and damage insurance: As a Card Member, You can be covered for damage to or theft of a rental vehicle in a covered territory when you use your eligible card to reserve and pay for the entire rental and decline the collision damage waiver at the rental company counter.
Intro APR
0% on purchases
Regular APR
17.74% - 25.74% Variable
Annual Fee
No annual fee
Credit Needed
Good, Excellent
- Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
- Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. Cash back earned is automatically credited to your statement.
- From workflow to inventory to floor plans, your business is constantly changing. That’s why you’ve got the power to spend beyond your credit limit with Expanded Buying Power.
- Just remember, the amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to us and other factors.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 17.74% - 25.74%, based on your creditworthiness and other factors as determined at the time of account opening.
- No Annual Fee
- Terms Apply
Pros
- 0% intro APR
- Welcome bonus
- Fixed rate rewards
- No annual fee
Cons
- Cash advance isn’t allowed
- Charges foreign transaction fees
- 2% cash back is capped at $50,000 in annual spending
- Expanded buying power: Enjoy flexible buying power when your business needs it. Expanded buying power gives you the freedom to spend beyond your credit limit and help get business done. While the amount you can spend above your credit limit isn't unlimited, it adjusts with your use of the card, your payment history, credit record, financial resources known to us, and other factors.
- Car rental loss and damage insurance: As a Card Member, You can be covered for damage to or theft of a rental vehicle in a covered territory when you use your eligible card to reserve and pay for the entire rental and decline the collision damage waiver at the rental company counter.
Chase Ink Business Unlimited®
The Chase Ink Business Unlimited® card is our best overall small business credit card and the best credit card for new businesses with no credit history. It offers unlimited 1.5% cash back rewards on all business-related purchases and an interest-free financing option on purchases for the first 12 billing cycles after opening an account. On top of that, it also offers a $750 bonus cash back after spending $7,500 on purchases within the first three months after opening an account. Take note that there’s no interest-free financing option for balance transfers, charging either 5% of each balance transfer or $5, whichever is greater.
Ink Business Unlimited® Credit Card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Pocketing 1.5% cash back on every single purchase
Intro APR
0% Intro APR on Purchases
Regular APR
16.24% - 22.24% Variable
Annual Fee
$0
Credit Needed
- Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase made for your business
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- Earn rewards faster with employee cards at no additional cost. Set individual spending limits for greater control.
- With Fraud Protection your card transactions will be monitored for possible signs of fraudulent activity using real-time fraud monitoring.
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- 0% introductory APR for 12 months on purchases
Pros
- 0% introductory APR on purchases
- Unlimited cash back rewards on all purchases
Cons
- Introductory APR period doesn’t apply to balance transfers
- 5% balance transfer fee
- Charges foreign transaction fees
- Requires excellent credit to qualify
- Auto rental collision damage waiver: Coverage is primary—meaning it replaces any coverage your personal insurance might offer—when renting for business purposes; it provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the US and abroad
- Purchase protection: Covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account per year
- Extended warranty protection: Extends the time period of the US manufacturer’s warranty by an additional year on eligible warranties of three years or less
Intro APR
0% Intro APR on Purchases
Regular APR
16.24% - 22.24% Variable
Annual Fee
$0
Credit Needed
Good, Excellent
- Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase made for your business
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- Earn rewards faster with employee cards at no additional cost. Set individual spending limits for greater control.
- With Fraud Protection your card transactions will be monitored for possible signs of fraudulent activity using real-time fraud monitoring.
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- 0% introductory APR for 12 months on purchases
Pros
- 0% introductory APR on purchases
- Unlimited cash back rewards on all purchases
Cons
- Introductory APR period doesn’t apply to balance transfers
- 5% balance transfer fee
- Charges foreign transaction fees
- Requires excellent credit to qualify
- Auto rental collision damage waiver: Coverage is primary—meaning it replaces any coverage your personal insurance might offer—when renting for business purposes; it provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the US and abroad
- Purchase protection: Covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account per year
- Extended warranty protection: Extends the time period of the US manufacturer’s warranty by an additional year on eligible warranties of three years or less
U.S. Bank Business Platinum
The U.S. Bank Business Platinum card is a great alternative if you want a longer interest-free financing option. It’s our best 0% APR business card, as it offers 0% introductory APR on purchases and balance transfers for the first 18 billing cycles after opening an account. It should be noted that this business credit card doesn’t offer any rewards for new and existing cardholders.
U.S. Bank Business Platinum Card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Extended 0% APR period on purchases and balance transfers
Intro APR
Regular APR
16.24% - 25.24% (Variable)
Annual Fee
$0
Credit Needed
Excellent/Good Credit
- U.S. Bank Business Platinum Card
- 0% Intro APR on purchases and balance transfers for 18 billing cycles. After that, a variable APR currently 16.24%-25.24%.
- Expense management tool VISA Spend Clarity is free to access and sync expenses, set employee card controls, generate reports, and more.
- Great Offer from U.S. Bank, a 2022 World's Most Ethical Company® - Ethisphere Institute, February 2022
- Terms and conditions apply
Pros
- Offers a long 0% APR introductory period
- 0% APR applies to both purchases and balance transfers
- No annual fee
Cons
- No introductory and ongoing rewards
- Balance transfer fee is charged even during the introductory period
- Excellent/good credit score needed to qualify
- Extended warranty protection: U.S. Bank will double an original manufacturer’s warranty up to an additional one year for warranties of three years or less. Coverage is limited to $10,000 per item.
- Purchase protection: U.S. Bank offers purchase protection for items that are damaged or stolen within 90 days of purchase. The coverage is limited to $500 per claim and up to $50,000 per cardholder, per year.
Intro APR
Regular APR
16.24% - 25.24% (Variable)
Annual Fee
$0
Credit Needed
Excellent/Good Credit
- U.S. Bank Business Platinum Card
- 0% Intro APR on purchases and balance transfers for 18 billing cycles. After that, a variable APR currently 16.24%-25.24%.
- Expense management tool VISA Spend Clarity is free to access and sync expenses, set employee card controls, generate reports, and more.
- Great Offer from U.S. Bank, a 2022 World's Most Ethical Company® - Ethisphere Institute, February 2022
- Terms and conditions apply
Pros
- Offers a long 0% APR introductory period
- 0% APR applies to both purchases and balance transfers
- No annual fee
Cons
- No introductory and ongoing rewards
- Balance transfer fee is charged even during the introductory period
- Excellent/good credit score needed to qualify
- Extended warranty protection: U.S. Bank will double an original manufacturer’s warranty up to an additional one year for warranties of three years or less. Coverage is limited to $10,000 per item.
- Purchase protection: U.S. Bank offers purchase protection for items that are damaged or stolen within 90 days of purchase. The coverage is limited to $500 per claim and up to $50,000 per cardholder, per year.
Bottom Line
Navy Federal GO BIZ® Rewards Credit Card is an ideal small business credit card for Navy Federal Credit Union members wanting to maximize their business purchases by getting rewards. It offers 1x points for every dollar spent on eligible net purchases and, while it doesn’t have an interest-free financing option on purchases and balance transfers, it makes up for it with its no annual or foreign transaction fees and its minimum regular APR of 10.65% (prime rate + 5.9%).
If this isn’t the right card for your business, head over to our Credit Card Marketplace to find one that’s a better fit.
