GO BIZ Rewards Mastercard® Business Review: Rewards, Business Credit Card (2024)

Navy Federal Credit Union

Navy Federal Credit Union has several card types depending on your needs.

Navy Federal GO BIZ Rewards Mastercard® Business Credit Card Review

The Navy Federal GO BIZ Rewards Mastercard Business Credit Card offers you 1 point per dollar spent on all purchases and no annual fee. The flexibility of redemption options, low APR, and business incentives make it perfect for all business owners and members of the Navy Federal Credit Union. You can easily track and manage your expenses, enjoy contactless technology, and rest easy knowing Navy Federal backs your company.

Navy Federal GO BIZ Rewards Mastercard® Business Credit Card: pros and cons

Rewards system in a nutshell

Navy Federal business credit card cardholders will earn 1 point per dollar spent on all net transactions or the total cost of your transaction minus any refunds. Business owners should value the simplicity of earning potential, as they do not have to worry about bonus categories or earning caps.

You can redeem your rewards at just 1,000 points for cash, travel, and gift cards. You get a valuation of up to 1% return per dollar spent. Here are some of the many ways you can use your rewards:

Cash back

Your points may be redeemed for cash back at a per-point basis:

• 5,000 Points: $50
• 10,000 Points $100
• 15,000 Points $150
• 20,000 Points $200
• And so on

Your points may also be redeemed through Pay with Points for transactions that have already been posted to your account in the past 90 days. Pay with Points is valid for up to three transactions totaling a minimum of $50.

Travel

Use your rewards to pay for airline tickets at a 1% valuation. For example:

• 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

You may use points, points plus cash, or all cash for car rental reservations with select car rental companies. You can also redeem rewards at over 325,000 hotels worldwide, perfect for business owners who need to travel frequently for work. While on your trip, you can call the Navy Federal Credit Union Redemption Center to book tours and attractions or book future cruises and vacation packages for your employees.

Gift cards

Redeeming your points for gift cards is similar to redeeming them for cash. You get the exact valuation but receive a card to be spent at your chosen location rather than cash. For example, you can redeem 5,000 points for a $50 Amazon gift card.

Who can benefit from getting the Navy Federal GO BIZ Rewards Mastercard® Business Credit Card?

Business owners already members of the Navy Federal Credit Union or eligible to join will be thrilled with this credit card. Although the rewards rate might be slightly lower than some other business cards on the market, the purchase APR and balance transfer APR of 14.40% - 18.00% is unmatched. Some cards on the market have upwards of 30% APRs so you will save significant amounts on interest with this card. You will need fair credit to be eligible for this card, but credit unions are known to work with borrowers to find the best option for their needs. Your approval odds depend on various factors, including your credit score, business expenses and revenue, and credit history.

This business card is perfect for new business owners or those looking to take advantage of the incredible business tools that Mastercard offers. The added insurance and protections, discounts, and financial tools will be invaluable to any business owner just starting.

Are there any other benefits?

There are a variety of other benefits based on which card you choose. As a business card, these additional perks will be tailored towards business owners and include specific protections and insurance that the average consumer might not need. Some include:

• Zero liability policy for unauthorized transactions. You are never held responsible for unauthorized purchases on your account.
• Exclusive business advantages. The Mastercard has some spectacular business advantages, like discounts for Microsoft Advertising, Salesforce Essentials, Zoho Social, QuickBooks, and TurboTax.
• Cellular wireless telephone protection. If you pay for your eligible phone with your Mastercard, you can be reimbursed for the cost of a new phone if it gets lost or stolen.
• Mastercard ID theft protection. If you fall victim to identity theft, you have a host of services at your disposal, like identity fraud expense reimbursem*nt.
• MasterRental collision damage waiver. As long as you rent a car for 31 days or less, you automatically get the collision damage waiver on car rentals, so you can decline additional protection and save money.
• Other benefits. Enjoy extended warranty, purchase assurance, travel assistance services, Boingo wi-fi access, mobile receipt management, and more.

Conclusion

The slew of business services included in the Navy Federal GO BIZ Rewards Mastercard makes it worth it. Add on the earnings and flexible point redemption options, and this card can be an excellent option for many small business owners. The Navy Federal app makes it easy for small businesses to pay their bill while on the go and manage credit card payments effortlessly. If you are looking for a card that makes it easy to earn points on each business transaction that you can use in any way you want, this credit card will be good for you.

Myfin Team

Author, editor

content@myfin.us