Rating: 5 Stars
Bottom Line:
For Armed Forces Members and Their Families to Build Credit
TABLE OF CONTENTS
Card Details
| Regular APR: | 11.65 – 18.00% (Variable) |
| Intro APR (Purchases): | None |
| Intro APR (Balance transfers): | None |
| Rewards Rate: | 1X point per dollar spent |
| Credit Needed: | (300 – 850) Bad/Limited/No |
| Annual Fee: | None |
| Card Brand: | Mastercard |
*See online credit card application for details on the terms and conditions.
Offer Highlights
- Click APPLY NOW to apply online
- No rewards limit
- Starting at 6 months, we’ll review your account monthly to see if you’re eligible to have your hold removed and be upgraded to a cashRewards unsecured card
- 1X point per dollar spent
- Points redeemed for cash, statement credit, gift cards and merchandise
Is Navy Federal nRewards Secured worth it?
Navy Federal nRewards Secured Credit Card is a great card for Navy supporters and members of all branches of the armed forces as well as their families looking to build credit by putting down a deposit. You deposit at least $200 into your savings account, before submitting your application, to back your spending. Once approved, the deposit will determine your card?s credit limit and be held.
You?ll earn rewards like any other credit card, and you’ll earn dividends on your hold, just like any other savings account. This is a great secured card for members of the armed forces and their families.
Pros
- Minimum security deposit of $200 is on the low end for secured cards
- Earn dividends on your security deposit
Cons
- Cash redemptions are deposited directly into your bank account at one cent per point, but for gift cards reward points are sometimes worth less than one cent
Why 5 Stars?
Regular APR
5 Stars
Intro APR
4 Stars
Fees
4 Stars
Perks
5 Stars
Overall
5 Stars
Fees
| Foreign Transaction Fee | None |
| Balance Transfer Fee | None |
| Cash Advance Fee | None if performed at a Navy Federal branch or ATM. Otherwise, $0.50 per domestic transaction or $1.00 per foreign transaction |
| Penalty APR | 18.00% |
Benefits
| $0 Fraud Liability |
| Cell phone protection |
Editorial Note: This content is not provided by the issuer. Any opinion, analyses, reviews, or recommendations expressed on this page are those of the author?s alone, and may not have been reviewed, approved or otherwise endorsed by the issuer.
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