For a limited-time, Navy Federal Credit Union is offering 60,000 points when you apply for a Visa Signature® Flagship Rewards card and spend $3,000 within 90 days of opening your account. 60,000 points can be redeemed for $600 towards a round-trip airline ticket or $450 in cash back.

NFCU membership is required
To apply for the card, you do need to be a member of Navy Federal Credit Union. In order to be eligible for membership, either you or an immediate family member must be a member of the Department of Defense. (See this page for membership details.) For those who are eligible, however, this is an fantastic sign up bonus.

Other features
In addition, the card earns two points for each dollar spent. Points can be redeemed towards such things as annual fee credit, gift cards and merchandise, travel rewards or cash back deposited to your savings account. There is an annual fee of $49, which is waived for the first year.

When redeeming your points for airline tickets, you can buy the ticket on your own using your Visa Signature Flagship Rewards card, then contact NFCU either through e-message in your online account or via phone to request a reimbursement from your points.

For airline ticket redemption, sample redemption rates are as follows:

• 15,000 points for $150 round-trip airline ticket
• 30,000 points for $300 round-trip airline ticket
• 50,000 points for $500 round-trip airline ticket

How does it compare to the Barclaycard Arrival?
In many ways, the card is quite similar to the Barclaycard Arrival World MasterCard. They both offer 2 points per dollar spent, waive the annual fee for the first year and have no foreign exchange fee. The NFCU card does offer a more lucrative signup bonus for now, but in other respects, the Arrival card is superior. The Arrival card offers also offers a 10% bonus redemption towards any travel, not just airfare, and is available to anyone, unlike NFCU, which has strict membership requirements.

However, for those who are eligible, the $600 signup bonus towards airfare is an excellent enticement. For more information on the Visa Signature Flagship Rewards card, see this link.