Card has now launched, more information here.
American Express made an announcement in early May that Navy Federal Credit Union would be launching a new American Express credit card titled ‘Navy Federal More Rewards American Express® Card’ in Fall of 2017. At this stage details of the new card are sparse, but it will “reward members for the everyday purchases they make most”. It will also feature a “simple, easy to simple, easy-to-understand rewards program…”
Currently NFCU issues both Visa & Mastercard credit cards. This new card will be issued by NFCU and run on the American Express payment network. You can read our complete guide to NFCU cards by clicking here.
Hat tip to reader Devin G
Hey William! Someone on MyFICO who may have insider information just posted what is expected to be some card benefits here: http://ficoforums.myfico.com/t5/Credit-in-the-News/NFCU-American-Express/m-p/4999309/highlight/true#M15627
I’m disappointed. I was really hoping that it would be a 2.5% cash back card that would rival USAA. Or at least a 2% cash back card. Still unconfirmed, but rumors from a possible insider.
Seems weak.
I wonder what they consider to be a simple, easy to understand rewards program. Amex’s own rewards programs are neither simple nor easy to understand. Navy Federal currently has three rewards cards (all through Visa), and two of them (Flagship Rewards and Go Rewards) are a bit complicated while the third (Cash Rewards) is a model of simplicity. My hope is that the new card will be similar in nature to their 1.5% Cash Rewards card but with a 2% cashback rate, thereby directly challenging USAA and PenFed who already have 2% cards.
Somewhat on topic question: Do other bank-branded AMEX cards get the same kind of “offers” & deals as the “regular” non-branded AMEX cards? (ie “Spend $200 or more, get $20 back” at certain store)
Not really. The best AmEx offers are targeted and not publicly available, and you have to log in to AmEx to see them. This card obviously wouldn’t have access to those, since it isn’t issued by AmEx and wouldn’t be on an AmEx login.
Having said that, any AmEx Offer which is publicly available to sign up for on Twitter will be available to this and other third-party AmEx cards- you just enroll it on Twitter like you would any AmEx card. There used to be some pretty good Offers that were available on Twitter, like the first Sam’s Club offer ($20 off $20) in May 2015. But I think it’s been a while since anything good has been public unfortunately, someone can correct me if I’m wrong.
+1
Wonder if they’ll be a decent option for my poor Serve cards..
How is a CC going to be a replacement for your serve card?
I’m pretty sure he meant a decent option to “load” his Serve card, since the only Credit cards that earn points when loading Serve are third-party Amex cards, which this card is.