You can compare a maximum of 6 cards.

Navy Federal nRewards Secured Credit Card

  • Regular Purchase APR   18% variable based on the Prime Rate
  • Balance Transfer APR  18% variable based on the Prime Rate
  • Cash Advance APR  20% variable based on the Prime Rate
  • Annual Fee  None
  • Credit Needed  Poor , No Credit Required
  • Processing Network Mastercard

Best Benefits
  • No annual fee
  • No foreign transaction fees
  • 1x points for every dollar spent
Rates & Fees
     Intro Purchase APR: N/A
     Regular Purchase APR: 18% variable based on the Prime Rate
     Intro Balance Transfer APR: N/A
     Balance Transfer APR: 18% variable based on the Prime Rate
     Balance Transfer Transaction Fee: None
     Cash Advance APR: 20% variable based on the Prime Rate
     Cash Advance Transaction Fee: NONE
     Penalty APR: 18%
     Annual Fee: None
     Foreign Transaction Fee: None
     Late Payment Penalty Fee: Up to $20
     Return Payment Penalty Fee: Up to $20
     Over Limit Penalty Fee: None
     Minimum Deposit Required: $200
     Credit Needed: Poor , No Credit Required

 

At a Glance

The Navy Federal nRewards Secured Credit Card is a secured credit card designed for those looking to repair or build their credit while earning rewards. Cardholders earn one bonus point for every dollar they spend on purchases with the card. Rewards points are applicable to travel, merchandise, cash, or gift cards. The card also features no annual fees, no foreign transaction fees, and an 18% APR on purchases and balance transfers.

The Gist

The Navy Federal nRewards Secured Credit Card is a reliable secured credit card for those looking to establish credit for the first time or improve their existing credit score. The card differs from other secured credit cards in that it provides members with rewards while they work on their credit score.

Many secured credit cards exist for little another purpose than helping a person build (or rebuild) their credit. That’s not to say that these cards should be looked down upon – after all, they provide an essential service. The Navy Federal nRewards Secured Credit Card, on the other hand, gives cardholders the chance to earn rewards points as they rebuild. The card earns 1 point for every dollar spent with the card – points that are applicable towards rewards such as travel, cash back, gift cards, or even merchandise. Points in the Navy Federal rewards program have a value of about $.01 per point.

With regular use, the Navy Federal nRewards Secured Credit Card offers versatility not found in many secured cards. The card has no annual fee, for example, and lacks fees for foreign transactions, balance transfers, and cash advances. The card also features a typical APR of 18% variable based on the Prime Rate, which is pretty good for a secured card. While the interest rates might be higher than with other unsecured credit cards, this won’t be an issue provided the users pay off their statement in its entirety each month – a great habit to get in when repairing credit.

Overall, the Navy Federal nRewards Secured Credit Card is a very good option for members of the Navy Federal Credit Union who are looking to boost their credit but want some perks along the way. The rewards points might not be spectacular, but they are a pleasant bonus while making the trek from secured to unsecured credit cards.

Apply for This Card If You:

  • Are a member of the NFCU
  • Need to rebuild or establish your credit
  • Want to earn rewards for your everyday purchases
  • Don’t want to pay an annual fee

 

Editorial Disclosure — The opinions expressed on BestCards’ reviews, blogs, and all other content on or relating to the website are solely those of the content’s author. They are not reflective of any card issuer or financial institution and have not been reviewed or approved by these entities unless otherwise noted. Further, BestCards lists credit card offers that are updated daily with information believed to be accurate to the best of our knowledge.

Published: September 6, 2019 1:03 pm

Advertiser Disclosure – BestCards is an independent, Florida-based credit card comparison platform. Many of the card offers that appear on this site are from companies from which BestCards receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). BestCards does not include all card companies or all card offers available in the marketplace.