Navy Federal nRewards® Secured Card Review: Boost Your Credit
Dive into the world of credit-building and rewards with Navy Federal nRewards® Secured in our review. Redeem your points for travel, merchandise, and more.
Get all the details on the Navy Federal Secured Card with Rewards in one place!
Discover the ultimate way to improve your credit and earn! Navy Federal nRewards® Secured card is the perfect solution, and we’re here to give you a review.
Get ready to explore its incredible features, benefits, and hassle-free application process so you can make a smart choice. Don’t miss out on this fantastic opportunity – read on!
- Credit Score: 300-689 (Poor – Average);
- Annual Fee: $0;
- Purchase APR: 18.00% (variable);
- Cash Advance APR: 2% above the purchase APR;
- Welcome Bonus: N/A;
- Rewards: 1 point on all purchases.
Navy Federal nRewards® Secured: how does it work?
If you’re looking for a credit card that helps you build or rebuild your credit, then the Navy Federal nRewards® Secured is a solid option.
It stands out from other secured cards because it rewards you for every purchase you make.
You earn points to redeem for various rewards for every transaction you make.
Also, the card comes with many other benefits that can help you improve your credit score and financial health.
However, you should keep in mind that you need to be a member of the Navy Federal Credit Union to apply for this card.
You will be redirected to another website
To begin building your credit, you’ll need to deposit $200 when you open your account. This deposit will determine your credit limit.
Still, if you use your card responsibly for three months, you may be eligible for a higher credit limit without having to put down more money.
Also, after six months, Navy Federal will review your credit and may offer you an upgrade to a cashRewards unsecured card.
Beyond the initial security deposit, there are no other fees for this credit card.
So it means no annual fees, balance transfer fees, foreign transaction fees, or advance fees for the Navy Federal nRewards® Secured.
3 Tips for Good Credit Utilization
Here are three simple and helpful tips to maintain good credit utilization:
1. Firstly, try to keep your credit card balance below the limit set by your bank.
2. Then, pay your credit card bills on time every month.
3. Lastly, avoid using your credit card for unnecessary or impulse purchases.
Navy Federal nRewards® Secured: should you get one?
Are you considering getting a credit card to build your credit score? If so, you should review the Navy Federal nRewards® Secured credit card more closely.
This product is designed specifically for individuals with limited or no credit history. See the pros and cons below.
- Earn rewards on all purchases;
- Potential for a credit limit increase without an additional security deposit;
- Minimal fees, making it cost-effective;
- Reports credit to the main bureaus.
- Requires a secured deposit;
- Limited to Navy Federal Credit Union members.
Credit score required
It is recommended to have a 300-689 (Poor – Average) credit score.
Navy Federal nRewards® Secured application: how to do it?
Ready to take the plunge into credit-building and rewards? So, stay tuned for our next article, where we’ll guide you through the application steps. Read on!
About the author / Suzana Brito
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