The Navy Federal Credit Union® nRewards® Secured Credit Card is a unique option for those with poor or no credit, offering a chance to earn rewards while rebuilding credit. Exclusively available to Navy Federal Credit Union members, this card requires a minimum security deposit of $200, which serves as your credit limit. Unlike many secured cards, it has no annual fees, balance transfer fees, or foreign transaction fees, making it a cost-effective choice. Cardholders earn 1 point per dollar spent and can boost their rewards through special deals. While the card does not offer a sign-up bonus, it provides opportunities for credit limit increases and potential upgrades to unsecured cards based on responsible usage. The card also includes benefits like secondary collision damage waiver coverage for rental cars and access to credit union member services. However, eligibility is limited to Navy Federal members, which may restrict access for some potential applicants.
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