Navy Federal Credit Union® nRewards® Secured Credit Card
Recommended credit score
1X point per dollar spent
No annual fees
No balance transfer fees
No foreign transaction fees
No cash advance fees
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
Rates, fees & offers
1 point per dollar
Purchase: 18.00%, Variable
Penalty APR: Up to 18.00%, Variable
Cash Advance APR: 20.00%, Variable
Foreign transaction fee
Not sure which card is best for you?
Editor's overall rating
Recommended credit score
Pros and cons
Qualify with limited / bad credit
No annual fee
No foreign transaction fee
Must be a Navy Federal member
The Navy Federal Credit Union® nRewards® Secured Credit Card is a strong choice for members looking to build or repair credit. The key word to note here is "members," because if you aren't a member of the Navy Federal Credit Union, you won't be eligible to apply for this card.
To become a member of Navy Federal, you have to either be a member of the military, a past member or veteran of the military, an employee of the Department of Defense, or an immediate family member of any of those.
If you do fit the criteria to apply for the Navy Federal Credit Union® nRewards® Secured Credit Card, it's one of the best options out there when it comes to secured cards. Here's a rundown of the card's features:
• The annual fee is $0, and there's also no balance transfer fee or foreign transaction fee.
• A minimum $200 security deposit.
• Rewards of one point per $1 spent. A point is worth about one cent and can be redeemed for cash, merchandise or gift cards.
• Automatic review of your account starting at six months to see if you can graduate to an unsecured card.
• Collision damage waiver coverage when you rent a car for 15 days or less.
• Cell phone insurance coverage for up to three phones when the bill is paid with the Navy Federal Credit Union® nRewards® Secured Credit Card.
For more information, see our full review of this card.
NerdWallet reviews are the result of independent research by our editorial team while cardholder reviews are contributions from independent users not affiliated with NerdWallet. Banks, issuers and credit card companies are not responsible for any content posted on the NerdWallet site, nor do they endorse or guarantee any posted comments or reviews.