Navy Federal Credit Union nRewards® Secured Credit Card Reviews: Is It Worth It? (2024)Reviews, rates, fees, and rewards details for The Navy Federal Credit Union nRewards® Secured Credit Card. Compare to other cards and apply online in secondsJohn KiernanWalletHubNo membership feesNo foreign feeQualify with bad creditHigh regular APRRequires security deposit
This card has been scored using WalletHub’s proprietary credit card rating system. We evaluated this card for various cardholder needs and picked the rating for the need with the highest score, which is "Rebuild Damaged Credit." A score of 5 is the best a card can receive, and the rating for the card may vary on different pages where it is compared to other cards for different needs.
Navy Federal nRewards Secured Card has a rating of 4.3/5 according to our proprietary credit card rating system. This rating reflects how appealing Navy Federal nRewards Secured Card's terms are compared to a pool of more than 1,500 credit card offers tracked by WalletHub. We evaluated this card for various cardholder needs and picked the rating for the need with the highest score, which is 'Rebuild Damaged Credit'. To break it down further, Navy Federal nRewards Secured Card earned a score of 5.0/5 for Fees, 5.0/5 for Rewards, 4.8/5 for Cost, 3.1/5 for APR, and 3.9/5 for User Reviews. Info about the Navy Federal Credit Union nRewards® Secured Credit Card has been collected by WalletHub to help consumers better compare cards. The financial institution did not provide the details.
WalletHub Rating Breakdown
User Reviews
3.9/5
227 reviewsRead and write reviews
Market Comparison
Market Comparison
4.3
The Market Comparison is a key component of the WalletHub Rating, as it measures how appealing the terms of a card are compared to a pool of over 1,500 credit card offers monitored by WalletHub. To ensure cards are evaluated for their most relevant purpose, we score each card across various cardholder needs and select the rating for the need with the highest score, which is “Rebuild Damaged Credit” for this card.
Fees
5.0
Rewards
5.0
Cost
4.8
APR
3.1
Other Features
3.0
4.3/5
Compared against 1,500+ credit cards
KEY TERMS
Accepted Credit Scores
Accepted Credit Scores
Bad Credit
Navy Federal nRewards Secured Card Minimum Security Deposit
$200
Navy Federal nRewards Secured Card Fees
One-Time Fees→$0
Annual Fee→$0
Monthly Fee→$0
Navy Federal nRewards Secured Card APR on Purchases
18% (V)
Navy Federal nRewards Secured Card Rewards
Earn 1 point with every $1 of net purchases with no limit on the total number of points you can earn.
Points can be redeemed for cash, statement credit, gift cards and merchandise; rewards points expire after 4 years.
Earn more rewards by shopping with your Navy Federal credit card at Member Deals.
Navy Federal nRewards Secured Card's Additional Info
Make a deposit of at least $200 into a qualifying Navy Federal savings account before submitting your application; Once approved, the deposit will determine your card’s credit limit and be held.
After just 3 months, you could be eligible for an upgrade that provides you additional credit without an additional security deposit.
Account will be regularly reviewed for possible unsecuring and removal of hold on deposit starting at month 6.
No Cash Advance fee if performed at a Navy Federal branch or ATM. Otherwise, $0.50 per domestic transaction
All account activity is reported to the major credit bureaus.
Ability to freeze and unfreeze your cards.
To be eligible to apply for the card, you must fall into one of the following categories: Active Duty, Retired & Veterans, Immediate family members or household member of a service member, DoD civilian personnel who support the armed forces, existing member and a parent, grandparent, or guardian of a minor.
Can't find what you are looking for? Submit your question about Navy Federal Credit Union nRewards® Secured Credit Card to our community. Editorial and user-generated content is not provided, reviewed or endorsed by the issuer of this offer. Please keep in mind that it is not a financial institution’s responsibility to ensure all posts and questions are answered. In addition, WalletHub independently collected information for some of the cards on this page.
Keep in mind that you have to become a Navy Federal Credit Union member before you can apply for the Navy Federal nRewards Secured Card. To be eligible for a Navy Federal membership, you have to be an active duty or retired service member of the armed forces, or have other ties to the military.
How to Apply for the Navy Federal nRewards Secured Card
Online: Visit the card's online page and select “Apply Now.” Then, sign in to your account and follow the steps to complete the application.
Over the phone: Call (888) 842-6328 to apply over the phone.
It's also worth noting that the Navy Federal nRewards Secured Card accepts even people with bad credit and requires a refundable security deposit of $200 to open an account.
Your Navy Federal Secured credit card minimum payment is 2% of the balance owed or $20, whichever is greater. That's a guideline, but you can look at yours on your monthly statement.
You only have to pay a specified minimum amount each month to be credited for paying on time. However, that won't save you from interest, which will accrue on any unpaid balance carried from month to month.
You will get your Navy Federal nRewards Credit Card security deposit back when you close your account or get graduated to an unsecured credit card.
Not everybody is automatically graduated, as cardholders will need a history of paying their secured card on time to be eligible.
The deposit refund will post to your account within 10 days. You can have your refund transferred directly into your checking, savings or Money Market Savings Account.
You can qualify for a Navy Federal nRewards Secured Card graduation by making on-time payments and keeping your balance under the credit limit. Keep in mind that while this can help you graduate to an unsecured credit card, it's not a given that Navy Federal will upgrade you.
Basically, after the first six months, Navy Federal will review your card monthly to see if you're eligible for an upgrade to an unsecured card. If you're approved, your security...
It can take as little as 5/6 months to as long as 18 months (that's the longest I've seen). Typically upon graduation, I've seen people go from 200 to 2000 when graduated. Not 100% sure on higher amounts.
Yes, the Navy Federal Secured will do a hard pull. You can apply for it with bad credit though.
There is no way to get pre-approved for the Navy Federal Secured. A hard pull usually causes an applicant's credit score to drop by 5-10 points. Most people's scores bounce back within 3-6 months with responsible credit management, but it can take up to 12 months. You can learn more about how to minimize the...
You may be able to get approved for the Navy Federal nRewards card after bankruptcy. The odds are good, because the credit score requirements are lenient.
However the eligibility requirements to apply for a card issued by Navy Federal are rather strict. You'll need to be a member of Navy Federal Credit Union, which is open to all branches of the U.S. armed forces, veterans, Department of Defense officials and their families.
Share your insights and review for the Navy Federal Credit Union nRewards® Secured Credit Card
5
24%
4
59%
3
7%
2
6%
1
4%
3.9
227 reviews
227 reviews
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Ochemia @omarsh7t6
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1 Star Rating
Verified Customer
I've had this card for almost two years, never late, always paid on time, and most of the time in full. I'm in a Navy Fed group on Facebook, and I see others who have been upgraded despite having a worse credit profile than mine, and they've gotten upgraded. I am definitely going to wait it out for three months; if I am not upgraded by then, I will definitely close this account. I don't mind the reduction of points as they'll climb back up within the next billing cycle. So please proceed with caution, and may I suggest considering the Discover Secured card instead (from which I have definitely graduated).
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jbohemier61 @jbohemier61
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5 Star Rating
Verified Customer
I use this card for EVERYTHING possible, then pay it in full at the end of the month. I try not to exceed more than $2000 - $3000 a month, but occasionally I’ll spend more. Regardless, there’s always more than enough in savings to cover it. The cash back is on everything, so it’s paid off in the long run. Additionally, it has a very low interest rate for those very few times when I may carry a balance into the following month. As it’s tied in with my banking application, paying it off monthly is merely a matter of transferring money from one account into another. Navy Federal has done an exceptionally awesome job of tracking my spending habits and keeping a close watch on fraudulent transactions. Literally…as I was using my card in a local Wendy’s, someone up north was using my card number to make fraudulent purchases. Navy Federal shut the card off immediately. While it was embarrassing to look like a bum who couldn’t manage his spending in a Wendy’s, at least the people who were committing fraud on my account were looking the same way…and in this case, THEY were the real bums. I’ll be using this card for years to come. It’s made managing my finances easier than ever before. Great card, fantastic credit union.
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Lauren @lclay2005
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5 Star Rating
Verified Customer
Love the card so far, I’m working on my credit and it’s a great way to built credit. After a amount of time you can graduate to a unsecured card so there is something to look forward to
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2
0
Jameka @jamekagallery17
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5 Star Rating
Verified Customer
This card has helped discipline my spending. I have fallen off the wagon a few times but it has brought me back to maintaining good financial health
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1
0
PL r @PL2023
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4 Star Rating
Verified Customer
Love the credit union. Just wish the branch teller hadn't told me to apply for a regular card when I told them I wanted to wait for my score to improve. I got dinged for the inquiry and declined. Takes too long to get reviewed for an increase and over year I've had card always paid in full no late payments.
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0
Gene R Linhart @genelinhart528
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5 Star Rating
Verified Customer
Right now it's a secured card to help re build my credit score get cash back only 18% interest after 6 months if still in good standing will get unsecured credit card
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0
Kay @KayKay3
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2 Star Rating
I have had this card for 14 months and it still has not graduated. I have never had a bankruptcy. I went to the branch to see if I could add additional money to increase my limit and the bank representative told me that it will be another hard inquiry on my credit report. I use the card consistently and make the payments way before the due date. Extremely disappointing!!!
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omarsh7t6 @omarsh7t6
I’ve had mine for 10 months, and I’m disappointed too that I’ve yet to graduate. When you ask their customer service what is it that you’re doing wrong they act like they have no idea as to why it hasn’t graduated. I’m contemplating closing mine.
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Karl @freight22
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5 Star Rating
Verified Customer
Bank is a joke. They tell you that you'll get a better card and then don't do that. Constantly charging over draft fees no matter what. Closed this account due to them screwing people over and not caring about military or ex military at all.
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Mario @msauce140
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1 Star Rating
Verified Customer
Absolutely a joke, I have had for 8 months. Have never missed a single payment. Have never been late. And still they haven't converted to unsecured card, or inclrease limit. I stopped using the card period. I have gotten another card through Capital One. Much better. And since I have had it. I already received a credit increase and no issues.
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littlewaltys @littlewaltys
Yes Mario it took me a year to graduate from a secured card to an unsecure card, I was just getting out of a BK
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0
michelles_203 @michelles_203
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2 Star Rating
Verified Customer
I have had the Secured Card for over a year and it's never graduated. I have 2 business accounts with NF, checking/savings, an auto loan and applied (about 10 months after) for an AMEX card with NF and was approved with a high limit. I called in to see why this small secured card hasn't changed and the rep told me it was automated so they had no control over the card. It automatically reviews every 6 months. I love NF and all of their other products but with no late payments and good credit, it's odd this never graduated. I don't want to close it and affect my credit so it's just sitting there without much use.
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Review Navy Federal Credit Union nRewards® Secured Credit Card
Navy Federal Credit Union nRewards® Secured Credit Card
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2024 WalletHub Awards
Navy Federal Credit Union nRewards® Secured Credit Card is an Editor's Pick for: