Navy Federal Credit Union has introduced the cashRewards Plus credit card, offering members a chance to earn unlimited 2% cash back on all purchases. This new product is part of Navy Federal's ongoing effort to provide value and benefits to military members and their families.

The card includes features such as no annual fee, no balance transfer fees, no foreign transaction fees, and no cash advance fees. Additionally, it offers free credit score access and does not impose limits or expiration on rewards while the account remains open. A Collision Damage Waiver is also included.

A special launch offer allows cardholders to earn a $200 cash back bonus by spending $2,000 within 90 days of opening an account. Cardholders can also receive a one-time $98 statement credit for an annual Walmart+ membership until January 1, 2025.

Rick Conyers, assistant vice president of credit card products at Navy Federal, stated: “Our members value simplicity and rich rewards on their everyday spending. cashRewards Plus delivers on these values with unlimited 2% cash back on all spending categories and a $0 annual fee.”

Existing eligible cashRewards cardholders will be automatically upgraded to the new card with increased rewards. Applications for the card can be made through Navy Federal's online platform, mobile app, contact center, or branches.

Founded in 1933 with just seven members, Navy Federal now serves 14 million members worldwide and is recognized as the largest credit union globally. Membership is available to Department of Defense and Coast Guard personnel along with their families. The organization employs over 24,000 people across more than 360 branches globally.