They should increase the AF to $95 and add 3x back on dining.
I've received an annual Amazon Prime credit of $139 for two years in-a-row (most recent one posted end of July 2022). That combined with consistent 6-month cli's of 8k (regardless of how high the total limit grows), the 3x travel category including transit, and being a reliable 2% base earner makes this a value keeper for me.
EQ8 787, TU8 755, EX8 760 as of July 28
This was never a great card. The selling point for a lot of people was the big SUB ($500 at one point) and NFCU CLs that grow big fast. Beyond that not much there. For me, I use Chase for travel costs, so the 2% is all I would ever get. Considering that I have loads of 1.5% cards with no AF, it would take $10K/yr in uncategorized spend for me get $50 more catback to break even. I don't have close to that.
@Anonymous wrote:
@1LostArk wrote:They should ...
increase the AF to $95 and... add 3x back on dining.Well plenty of free cards, including some in your sig, give 3x back on dining,
so for many that wouldn't be a value add feature justifying an increase in AF
Fixed it for ya' ... 
lol
Yeah, I agree that 3x on dining would be an enhancement but for the $49 AF, I think it would be a fair addition without having to increase the AF, unless perhaps they added other enhancements like better travel insurances or 3x in other selected categories.
@crystal626 wrote:
@1LostArk wrote:They should increase the AF to $95 and add 3x back on dining.
Still wouldn't be worth having it when there are $0 AF 3/4/5% dining cards.
While I agree there *are* other 3/4/5% (or even higher cards), I don't think it's a fair comparison. Every rewards program has a different group of benefits or rewards. Those 3/4/5% cards may not include TSA Global Entry reimbursement, for example and they certainly don't include a flat-rate 2% on everything. Part of the beauty of Flagship Rewards is that it gives a decent 2% base on everything plus a higher return on travel/transit, so for those who don't want to carry a walletful of various rewards cards, it's more of a one-stop-shop card. And the 3% rewards that Navy has offered on FSR aren't capped like they are on 5% cards like the Citi Custom Cash. For some of us, a $500 cap isn't nearly enough for dining out including meals on business travel plus frequent dining out at home. That's why my go-to cards for dining have had upcapped higher rewards on dining as part of their core package perks and benefits. (AMEX Gold, Chase Sapphire Reserve, BofA Premium Rewards with Platinum Honors.)
But yes, I get 3% on dining and travel (uncapped) with my Citi Costco card and no AF except for maintaining a warehouse membership, which I would do anyway. Many of the cards that give 4% or 5% or higher without caps, including some that I use often for dining, have strings attached like high AFs as part of the package deal.
@Curious_George2, I totally agree with your assessment that Flagship's value is sinking. I did some research before I posted in >THIS THREAD< recently. I was unfamiliar with FSR until I came to My FICO a few years ago, but the card has been around for a long time in various configurations. It was updated to a 2% everything card somewhere about 6 to 8 years ago from a 1.5% everything card. At the time, both the previous 1.5% and the new 2% were well above the industry average. The last change was around 2018 when they added 3% travel. With the continued evolution of rewards cards, it's fallen behind from strictly a rewards standpoint since there are many cards that do 2%/3% without an AF. It's due for a refresh, either deleting the AF and/or adding rewards/benefits.
As I posted in that other thread, "... FSRs includes >some nice perks< for a very low AF card is someone doesn't choose to have a more expensive premium card that would cover these areas:
- Purchase Protection for up to 90 days (damage, theft; limited to $500 per item.)
- Secondary Rental Car CDW
- Travel Accident Insurance (benefits up to $250K)
- Lost Luggage Insurance (up to $3K per covered trip.)
- Reimbursement for TSA Global Entry ($100 every 4 years) which could lower the effective AF to $24.
It's concerning to hear that BT and special purchase APR opportunities have been declining for you. I continue to consider adding the FSRs to my lineup but compared to some of my other cards, it doesn't make a compelling case in its' present format. My personal opinion would be they could either (a) delete the AF, delete the TSA GE credit, and make the card a 2%/3% card, perhaps make 3% include dining or gas or both, and lower the minimum redemption to $0.01 or at least no more than $25; or (2) maintain the AF and current rewards/perks, but then add some rewards/perks such as 3% in some other categories and/or better travel insurances. For example, Chase can provide primary rental car CDW on the Sapphire Preferred for an effective $45 AF ($95 AF - $50 hotel stay credit), plus baggage delay, trip delay, and trip cancellation coverages, so I imagine Navy could afford to enhance FSR benefits in some ways without breaking the bank.
I would expect to see some updates from Navy on the FSR in the next 12 to 24 months because of the above. A lot has changed in the past five to ten years.
