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Secured credit card · Navy Federal Credit Union

Navy Federal cashRewards Secured

Flat cash back and a deposit-backed credit line for eligible Navy Federal members.

Membership requiredNo annual feeFlat cash back
See current issuer offer ↗

Issuer terms checked 2026-10-15 · Our editorial approach

Annual fee$0
Purchase APR18.00% variable
Base rewards1% cash back
Account typeSecured credit card
The CardsReviews take

A flat-rate option, if membership fits.

The flat reward keeps the program simple, while a deposit creates a separate cash commitment. Check membership first and treat the advertised review dates as eligibility checkpoints rather than guaranteed upgrades.

Consider it if: you qualify for membership and want a simple rewards routine.
What stands out

The advantages.

  • No annual fee or foreign transaction fee.
  • Unlimited 1% cash back on eligible net purchases.
  • Published credit-line and unsecured-account review checkpoints.
What to weigh

The trade-offs.

  • Navy Federal membership is required.
  • At least $200 is held as collateral.
  • A review does not guarantee a higher line or deposit return.
The offer, unpacked

Rates, rewards & requirements.

The details below describe the checked offer. Your assigned terms and eligibility may differ.

Rates & fees

Annual fee
$0
Purchase APR
18.00% variable
Introductory APR
No introductory APR advertised in the checked offer
Balance transfer fee
None
Foreign transaction fee
None
Cash advance APR
18.00%
Cash advance fee
None at Navy Federal branches/ATMs; other ATMs: $0.50 domestic or $1 foreign transaction; third-party fees may apply
Late payment fee
Up to $20
Returned payment fee
None
Purchase grace period
Due date at least 25 days after closing; pay the entire balance on time

Rewards & account essentials

Rewards
Unlimited 1% cash back on eligible net purchases
Welcome offer
No welcome bonus advertised in the checked offer
Security deposit
$200–$5,000 held in the membership savings account; starting limit equals deposit
Membership
Eligibility through qualifying military, Department of Defense or family/household connections; check membership rules
Credit-line review
After 3 months for possible increase
Unsecured-account review
After 6 months for possible unsecured cashRewards eligibility
Rewards cap
No earning cap; rewards do not expire while account remains open
Put the terms side by side

Other cards to consider.

Account types and approval requirements differ. This comparison does not predict which card you can obtain.

A closer look

How it works in real life.

Check membership before comparing the card

This product is relevant only if you qualify for Navy Federal membership and can meet the card application requirements. Eligibility for the credit union and approval for the card are separate questions. Confirm membership first, then compare the assigned account terms. Do not assume eligibility solely because a relative has served without checking the credit union’s current rules.

How the deposit affects the budget

The funds held as security remain unavailable for normal spending while the hold applies. If you commit $500 and make $100 of purchases, your budget still needs the later $100 repayment. Keeping the collateral separate from your monthly spending plan makes that distinction easier to follow.

Flat rewards reduce the work

With a hypothetical $2,400 of eligible annual purchases at 1%, cash back would be $24 before any interest, fees or exclusions. There is no category calendar to activate for this basic rate. That simplicity can be useful for someone whose main aim is maintaining a reliable payment routine.

A review date is not a promise

The published three-month credit-line review and six-month unsecured-account review are checkpoints for eligibility. An account can reach a checkpoint without receiving the desired outcome. If you will need your deposit back for an upcoming expense, compare that cash need with the uncertainty of an upgrade or refund timeline.

Consider financing costs independently

The product’s 18% purchase APR differs from the higher rates in several other profiles here, but carrying a balance still has a cost. A hypothetical constant $500 balance would imply $7.50 of monthly interest using a simple APR-over-twelve approximation. That can exceed the annual cash back from a small spending routine. Actual charges depend on daily balances and dates.

Alternatives to compare

Capital One Platinum Secured and Discover Secured have different deposit assignments and rewards. Compare them only under the offers you can obtain; do not equate a lower advertised deposit with a more affordable overall plan.

Questions before applying

Is this the old nRewards card?

The issuer now directs the old nRewards product URL to cashRewards Secured. This profile uses the current name and cash-back structure.

Are all ATM advances completely free?

No. The disclosure distinguishes Navy Federal locations from other ATMs, and a third-party ATM operator may impose its own charge.

Does an upgrade happen automatically at six months?

There is an eligibility review, not an unconditional upgrade guarantee.

Editorial profile prepared October 15, 2026. Examples are hypothetical and do not predict approval, an assigned limit or a personal outcome. Editorial review is pending.

Transparent by design

Sources & offer notes.

Product facts come from issuer sources. Our commentary and hypothetical examples explain the trade-offs.

Current product name is cashRewards Secured; the former nRewards URL redirects to this product. Membership is required. Review dates are eligibility checks, not promises of an upgrade.