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Navy Federal Credit Union nRewards Secured Card Review

A secured card with low rates, no annual fee – and rewards!

About.com Rating 5 Star Rating
User Rating 3 Star Rating (1 Review)


You must first be in the military, or related to someone who is, to be eligible to get this card.

Who the Navy Federal Credit Union nRewards Secured Card Is For

  • People who have been turned down for a credit card or are rebuilding their credit.

Credit Rating Required

  • Bad (below 620) or higher.

About the Navy Federal Credit Union nRewards Secured Card


  • No annual fee.
  • Low interest rates.
  • Generous rewards program.
  • No balance transfer fees. 


  • Available only to members of the military and their families.


  • 0.5% to 1% percent back, redeemable for gift cards.


  • 8.99 to 18.0% on purchases and balance transfers.
  • Penalty APR: 18.0%.


  • No annual fee.
  • Late payment fee: Up to $20.
  • Returned payment fee: Up to $20.
  • Balance transfer fee: None.

Navy Federal Credit Union nRewards Secured Card Review

The Navy Federal Credit Union nRewards Secured Card is by far the best secured credit card on the market, but there's one catch: To qualify, you must first be eligible to join this large credit union. It might not be as hard as you think.

Despite its name, Navy Federal Credit Union membership is open to uniformed personnel in all branches of the armed forces - not just the Navy - plus the National Guard, retirees, civilians who work at Department of Defense installations, as well as their family members. So, if your grandfather was in the service, he can join if he's not already a member, and you can too.

In addition to the low APR, there's no annual fee and no balance transfer fees, so if you'd rather use this card to carry a balance rather than for purchases, it's good for that, too. However, if you have the money to put up a deposit for this card, aren't you better off paying off your balance?

The card carries an attractive rewards program. You earn point per dollar on purchases, which works out to 0.5% to a full one percent depending on your spending levels. Rewards are redeemable for gift cards and certificates. For example, 2,000 points gets you a $10 gift card at Starbucks or Applebee's, while 7,500 points are redeemable for a $75 gift card. There's no limit on the points you can earn. Points expire after four years.

Of course, since this is a secured card, you have to put up a cash deposit, which becomes your credit limit. Still, it's one of the lowest priced secured cards on the market.


This is one of the best secured cards we looked at. Not only do you get a very low APR, you also get a generous rewards program. But you must first be eligible to be a member of Navy FCU to qualify.

User Reviews

Reviews for this section have been closed.

 3 out of 5
High Deposit Charge, Member Lex1206

I have yet to apply for this card but thought I would include this information anyway. The minimum deposit they ask for is $500.00. After reading the guidelines on their website, it still seems to be a worthy deposit fee to pay in exchange for the great benefits you will reap from it.

1 out of 1 people found this helpful.

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