Learn how to apply for the Navy Federal Nrewards Secured
If you are eligible, you should already know how to apply for it; it does not come with an annual fee, grants you points as rewards, and assists in building credit.
Introducing the Navy Federal Nrewards Secured Credit Card
If you’re looking for a secured credit card that offers a range of features and benefits, the Navy Federal Credit Union® nRewards® Secured Credit Card might be just what you need.
Like any secured card, a security deposit is required, but the Navy Federal Nrewards Secured card stands out by not charging any annual fees, application costs, or account management expenses.
One of the major advantages of this card is that if you have good payment habits, your account could be considered for conversion to an unsecured status in as little as six months.
Unlike most secured cards, the Navy Federal Nrewards Secured Credit Card also offers additional features such as rewards, which are uncommon in this category of cards.
Whether you’re just starting to build your credit or working to rebuild it after previous credit issues, this card can be a great tool for establishing a solid credit profile.
However, there is one caveat – in order to apply for this card, you must already be a member of the Navy Federal Credit Union. If you’re not a member yet, don’t worry, we’ll explain how you can join later on.
Understanding the Rewards System and Redemption Process
With the Navy FCU nRewards® Secured Credit Card, you earn 1 point for every $1 spent on eligible net purchases. There is no limit to the number of rewards you can accumulate with this card.
It’s important to note that points are not earned if the account becomes inactive, and points are forfeited upon account closure. Additionally, reward points expire after four years from the month they were acquired.
Once you’ve accumulated points, you can redeem them for a variety of options, including goods, gift cards, or cash back. Each point is worth one cent in cash back.
Keep in mind that points must be redeemed in multiples of 5,000 (e.g., 5,000 points for $50, 10,000 points for $100, 15,000 points for $150, and so on).
Redemption options include cash back, bill credits, or deposits into your Navy Federal Credit Union accounts.
Eligibility and Application Process
The Navy Federal Nrewards Secured Credit Card is exclusively available to members of the Navy Federal Credit Union.
In addition to being a member, you or a family member must be affiliated with the Department of Defense or the armed forces, either currently or in the past.
If you meet the membership requirements and are not currently a member of the credit union, you’ll need to complete a membership application and open a savings account with a minimum $5 deposit.
Once you’re qualified and meet all the requirements, you’re almost ready to apply for the Navy Federal Nrewards Secured Credit Card, which can help you rebuild or establish credit.
Applying for the Navy Federal Nrewards Secured Credit Card
If you’re already a member of the Navy Federal Credit Union, most of the work is already done. Simply visit their website and click “Apply Now” to start the application process.
You’ll need to enter your NFCU account information and review or add any necessary details to complete the application. Once submitted, the approval process is typically quick, and you’ll receive further instructions after approval.
Is the Navy Federal Nrewards Secured Credit Card Worth It?
For individuals seeking to strengthen a weak or damaged credit profile, the Navy Federal nRewards Secured Credit Card offers a reliable solution.
While the cash-back returns may not be the highest among secured cards, the card stands out with additional benefits such as cell phone protection and auto rental insurance, which are not commonly found on secured cards.
Furthermore, the Navy Federal Nrewards Secured Credit Card distinguishes itself by not charging foreign transaction fees or cash advance fees, making it an appealing choice for cardholders who frequently travel or need access to cash advances.
Navy Federal Nrewards Secured Credit Card vs. Barclaycard AAdvantage Mastercard
While the Navy Federal Nrewards Secured Credit Card is an excellent option for individuals looking to build or rebuild credit while enjoying some benefits, the Barclaycard AAdvantage Mastercard caters to a different set of needs.
The Barclaycard AAdvantage Mastercard is specifically designed for frequent American Airlines travelers who want to enjoy various benefits and rewards.
If you have good to excellent credit scores and want to maximize benefits for your American Airlines travel experiences, the Barclaycard AAdvantage Mastercard is a strong contender.
Benefits of the Navy Federal Nrewards Secured Credit Card
- Accessible even with bad or weak credit
- No annual fees
- Details reported to all three major credit bureaus
- Free balance transfers
- No foreign transaction fees
Benefits of the Barclaycard AAdvantage Mastercard
- Straightforward eligibility for the generous welcome bonus
- No foreign transaction fees
- Complimentary companion certificate for eligible flights
- Premium benefits for frequent American Airlines flyers
How to Apply for the Barclaycard AAdvantage Mastercard
If you’re interested in the Barclaycard AAdvantage Mastercard, check out our article on how to apply for this card and start enjoying its impressive benefits right away!
