VIENNA, Va., Jan. 12, 2016 /PRNewswire-USNewswire/ -- Navy Federal Credit Union has eliminated all foreign transaction fees1 on its credit cards for new and existing cardholders. Implemented January 4th, the credit union will no longer charge a fee for using a credit card for foreign currency transactions.
"We always want to be doing the right things for our members, especially our Active Duty military," said Randy Hopper, vice president of credit cards at Navy Federal. "By eliminating foreign transaction fees, we're making it better for our members to use their credit cards, particularly while traveling or if they're based overseas."
There are no fees for credit card balance transfers or cash advances1, and the credit union sets no limit on rewards earned for eligible purchases.2 All cards have no annual fee, with the exception of the Visa Signature® Flagship Rewards Card, which offers added benefits like travel and emergency assistance for an annual fee of $49.
About Navy Federal Credit Union
Navy Federal Credit Union is the world's largest credit union with more than $71 billion in assets, 5.9 million members, 277 branches, and a workforce of over 13,000 employees worldwide. The credit union serves all Department of Defense and Coast Guard Active Duty, civilian, and contractor personnel and their families. For additional information about Navy Federal, visit www.navyfederal.org.
1Currently, rates range from 7.99% APR to 18% APR, are based on creditworthiness, and will vary with the market based on the Prime Rate. On 2/1/2016, rates will increase to 8.24% APR to 18% APR as the result of a 12/16/15 increase in the Prime Rate. ATM cash advance fees: None if performed at a Navy Federal branch or ATM. Otherwise, $0.50 per domestic transaction or $1.00 per overseas transaction. $49 annual fee for Visa Signature Flagship Rewards. Earn rewards on eligible net purchases. 2"Net purchases" means the sum of your eligible purchase transactions minus returns and refunds. Eligible purchase transactions do not include, and rewards are not earned for, Navy Federal cash equivalent transactions, such as the purchases, loading or re-loading of Navy Federal prepaid and gift cards (e.g., Navy Federal gift cards, Visa Buxx Cards, GO Prepaid Cards).
Contact: Emily Bigham
Phone: (703) 206-3061
SOURCE Navy Federal Credit Union