Sponsored – Navy Federal
Insured by NCUA
“More bang for your buck, stretch your dollar further, the best money can buy.” When it comes to money, everyone wants to get the best deal. Maybe you hunt for rate deals and spread your money across a few different banks or credit unions. This can work out well even if it does take time and effort. But, in your search for the next best thing, be sure you’re not overlooking the simplest and easiest choice. It’s possible to get several great deals in one place. Navy Federal Credit Union members, for example, earn and save an average of $2501 more per year by banking with us. The trick is to maximize your membership—take advantage of your perks as a member and the fact that credit unions generally have higher savings and lower loan rates. Here are the top five things to consider when it comes to scoring a big deal:
- Fees. Why pay something when you could pay nothing? From service fees to ATM fees and checking account fees, there are many ways you could actually be paying to access your own funds. Take a look at your account and see what fees you’re paying. Do you need to be paying them? Look for accounts that charge no service fees on checking, and no balance transfer fees or foreign transaction fees on credit cards.
- Product Rates. If you’re truly a bargain hunter, you may get a rush out of shopping around for the best rates. Rates can change often, so keep an eye on who is consistently offering low rates. Credit union loan rates are currently capped at 18% APR. Unless that changes, this means you won’t pay more than 18% interest on your credit card balances—that can be huge savings compared to other credit card issuers that can sometimes charge more than 20%. On top of that, Navy Federal’s credit card APR is 4% lower than the industry standard. You can also look for ways to get a rate discount like signing up for auto pay on your loan payments. It’s worth checking!
- Cash Back. Who doesn’t want more cash back? Make your money work for you by looking for credit cards with cash back and checking accounts that earn interest (some may not offer anything!). Look at other places for cash back, too. Many financial institutions will partner with companies to offer cash-back deals for buying homes or refinancing cars. For example, you can get $200 cash back for refinancing an auto loan from another institution—with Navy Federal.2
- Savings. Another way you can score a deal at your bank is to check savings rates. While your money sits in your savings account, make sure it’s earning money. Certificates are another great thing to shop around for. Certificate rates fluctuate, and the beginning of the year is typically known as “savings season,” so you may notice great certificate rates during that time. Navy Federal’s saving rate is up to 2X the industry average.
- Rewards. Lastly, we all want to be rewarded, right? See what other perks your credit union or bank offers. Check out the credit card rewards structures. Simplicity and easily earned points mean great rewards. And, don’t forget to look for partnerships with other companies that may offer you discounts on things like car insurance, rental cars or other travel perks. You deserve to live a #dealicious life.
Everyone wants to save money and make the most of the cash they have. Just remember—your time is money, too. So make the most of both by maximizing your membership—it’s the deal of a lifetime.
Visit navyfederal.org/deals and see that the more you’re in with our products and services, the more you win. Your membership is a big deal!
1Dollar value shown represents the results of the 2017 Navy Federal’s Member Giveback Study. The Member Giveback Study is an internal comparative market analysis of Navy Federal’s loan and deposit account rates as compared to the national average for similar products.
2Existing Navy Federal loans not eligible for this offer. You must make your first scheduled payment in order to receive the offer. $200 will be credited to the primary applicant’s savings account between 61 and 65 days of the loan origination date. If the auto refinance loan is canceled or paid off in the first 60 days, the $200 offer will become invalid. Offer may end at any time. Recipient is solely responsible for any personal tax liability.
This article is intended to provide general information and shouldn’t be considered legal, tax or financial advice. It’s always a good idea to consult a tax or financial advisor for specific information on how certain laws apply to your situation and about your individual financial situation.