Updated: December 1, 2024
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Both the Navy Federal Credit Union cashRewards Card and the Costco Anywhere Visa® Card by Citi offer enticing cash back rewards with no annual fees. However, the Navy Federal cashRewards edges ahead with its lower required credit score and lack of reward caps.
On the other hand, the Costco Anywhere is a co-branded option that maximizes benefits for frequent Costco shoppers with higher cash back rates on gas, travel and dining.
You might prefer the Navy Federal cashRewards if you value a straightforward cash back program with a lower APR range. This card offers a flat cash back rate on all purchases and has no annual fee, making it a solid choice for everyday spending without needing a specific membership.
You might prefer Costco Anywhere if you're a frequent Costco shopper and spend a lot on gas, travel and dining. With higher cash back rates in these categories and no annual fee with your Costco membership, this card can maximize your rewards in areas where you already spend more.
Evaluating APRs, fees, credit requirements, rewards, and other features will help you determine which card best meets your financial needs. For instance, if you frequent Costco, the Costco Anywhere card's benefits at Costco and on gas are better for you. Conversely, the Navy Federal cashRewards card's lower APR range and absence of balance transfer fees might appeal to those seeking simplicity and lower costs.
The Navy Federal cashRewards is the better option for those prioritizing a lower regular APR, offering a variable APR range of 14.90% to 18.00%, compared to Costco Anywhere's 20.49% variable APR.
Both cards offer a $0 annual fee, but the Costco Anywhere requires a paid Costco membership, costing $60 annually. The Navy Federal cashRewards has no such condition, making it more straightforward for those seeking a no-annual-fee card without additional requirements.
The Navy Federal cashRewards and the Costco Anywhere both don't offer an introductory 0% APR period for purchases or balance transfers, making this feature a tie between the two cards.
The Costco Anywhere is better for rewards, offering up to 4% cash back on gas and EV charging, 3% on dining and travel and 2% on Costco purchases. The Navy Federal cashRewards offers up to 1.75% cash back on all purchases. The Costco card's co-branded benefits provide additional value for Costco members.
The Navy Federal cashRewards is better for welcome offers, providing $300 cash back when you spend $3,000 within 90 days of account opening. The Costco Anywhere does not offer a welcome bonus.
The Navy Federal cashRewards card is more accessible, catering to individuals with fair to excellent credit scores. In contrast, the Costco Anywhere card requires excellent credit.
The Navy Federal cashRewards is better for penalties and fees, offering lower late fees of up to $20 and a lower penalty APR of 18.00%, with no cash advance or foreign transaction fees.
Navy Federal Credit Union, which issues the cashRewards card, leads with an issuer satisfaction rating of 4.7. Costco Anywhere is issued by Citi, which has a rating of 4.1. This suggests higher overall satisfaction among Navy Federal's cardholders.
The Costco Anywhere stands out for Costco members with exclusive rewards and an annual reward certificate redeemable at U.S. Costco warehouses. Navy Federal cashRewards provides a collision damage waiver when you rent a car for 15 days or less using the card. The card also has fraud notifications and a Zero Liability policy for unauthorized transactions.
The Costco Anywhere card outpaces the Navy Federal cashRewards in specific categories, offering 4% cash back on gas and EV charging (up to $7,000 annually, then 1%), 3% on dining and travel and 2% on Costco purchases. This tailored approach can yield significant returns for those who frequent Costco and spend heavily on travel and dining.
The Navy Federal cashRewards card provides a more flexible redemption process, allowing cardholders to redeem their cash back anytime without minimums or expiration concerns.
The table below compares the bonus categories offered by each card.
Category | Navy Federal cashRewards | Costco Anywhere |
|---|---|---|
Gas and EV Charging | 1.5% cash back | 4% for the first $7,000 annually/1% thereafter |
Restaurants | 1.5% cash back | 3% cash back |
Travel | 1.5% cash back | 3% cash back |
Costco Purchases | 1.5% cash back | 2% cash back |
All Other Purchases | 1.5% cash back | 1% cash back |
The Navy Federal cashRewards card provides a more flexible redemption process, allowing cardholders to redeem their cash back at any time without minimums or expiration concerns.
The Costco Anywhere card offers cash back rewards that are issued annually via a reward certificate after the February billing statement. These certificates are redeemable for cash or merchandise at Costco warehouses until December 31 of the year they are issued.
MoneyGeek evaluates and reviews credit cards like the Navy Federal cashRewards and Costco Anywhere using a scoring system tailored to various use cases. The cash back score is most relevant for these cards, reflecting their highest-scoring use case. The largest factors in this score are the effective reward rate and the return on investment for card offers. Additional considerations include annual fees, issuer satisfaction and penalties.
The Navy Federal cashRewards offers up to 1.75% cash back on all purchases, while the Costco Anywhere card provides up to 4% on gas and EV charging, 3% on dining and travel and 2% on Costco purchases
Yes, the Navy Federal cashRewards offers a $300 bonus. The Costco Anywhere card does not currently have an offer.
The Navy Federal cashRewards has a 14.90% to 18.00% variable APR, while the Costco Anywhere card has a 20.49% variable APR.
The Navy Federal cashRewards has no annual fee. The Costco Anywhere card has no annual fee but requires a Costco membership that costs $60 per year.
The Navy Federal cashRewards is for those with military connections. Costco Anywhere requires a Costco membership and an excellent credit score.
About Doug Milnes, CFA
Doug Milnes is a CFA charter holder with over 10 years of experience in corporate finance and the Head of Credit Cards at MoneyGeek. Formerly, he performed valuations for Duff and Phelps and financial planning and analysis for various companies. His analysis has been cited by U.S. News and World Report, The Hill, the Los Angeles Times, The New York Times and many other outlets.
Milnes holds a master’s degree in data science from Northwestern University. He geeks out on helping people feel on top of their credit card use, from managing debt to optimizing rewards.
