Are you in search of a credit card that rewards you while at the same time improving your credit score? Navy Federal nRewards Secured is an ideal option that could fulfill all these requirements.
For those looking to build or rebuild a credit score, secured credit cards with no annual fees are an ideal solution. The Nave Federal nRewards card is one such option that is available even to people with low or nonexistent credit histories.
Get the full details about nRewards Secured Credit card in the provided article. This piece offers comprehensive information that you may require to understand the characteristics of this particular credit card.
NAVY FEDERAL NREWARDS SECURED
NO FOREIGN TRANSACTION FEES NO CASH ADVANCE FEESWhat is the nRewards Secured Credit Card?
A secured credit card is a great way for individuals with no or poor credit histories to build or rebuild their scores. These cards require a security deposit to be made before you can open the account and use it. They are perfect for those who want to establish themselves as responsible borrowers.
The nRewards Secured Credit Card requires a minimum deposit of $200 in a savings account for you to use it. The Navy Federal will then keep this amount as your credit limit. After spending 3 months with us, you can get a higher credit limit – no need to pay any extra security deposits.
nRewards credit cards come with the added benefit of reward points. For every dollar spent, you get one point that can be redeemed for cash, gift cards, statement credits or merchandise. You can accumulate an unlimited number of points, however they will expire after four years, so it’s important to keep track and make the most out of them.
The Navy Federal nRewards
Navy Federal nRewards offers a straightforward rewards program, giving you 1 point for each dollar spent. These points can be used to your advantage; they can be redeemed for statement credits, gift cards, merchandise and even cash back. This last feature is particularly beneficial; accumulating 5.000 points would earn you $50 in cashback onto your savings account!
Through the use of Pay with Points, customers can redeem their points for transactions posted to their account in the past 90 days. At least $50 must be redeemed across three or fewer transactions at once. This is a great way to make use of your points!
Gift cards rewards can be spent at participating retailers or online stores. When using the merchandise reward option, the sales tax & shipping will be covered and the product will be shipped to the cardholder’s address. Get all the details about the rewards system offered by this card through Navy Federal’s program description on their website. That way, you can make sure that you’re taking advantage of everything it has to offer.
Benefits of the nRewards Secured Credit Card
This credit card is specially designed for those who want to build their credit score, it comes with some great benefits. These can range from cashback & rewards to insurance and a host of other services.
- No annual fees
- Zero balance transfer fees
- No international transactions fees
- Zero cash advance fees
- 1 rewards point for every dollar spent
- Coverage for car rental
- No limit in the number of points you can earn
- Does not need a high credit score to apply
- Liability protection in case of fraud
- Access to your credit score
More about the nRewards Secured Credit Card
To open a new account, you must have at least $200 in your balance. This amount is held as your spending limit and can be reassessed after three months of responsible use. If you meet the criteria, you may see an increase in your credit limit without having to add extra funds.
Additionally, Navy Federal will audit your credit card accounts every six months. If you have been making your payments on time, they can automatically lift any holds and upgrade your current secured card to an unsecured version.
The nRewards Secured Credit Card has multiple useful features – a contactless payment option, which allows secure transactions; Collision Damage Waiver Coverage if you’re renting a car for 15 days or more; and finally 24/7 access to US-based representatives.
Apply To nRewards Secured Credit Card
The nRewards Secured Credit Card is available exclusively to current/former members of the military or their family members. To apply, you must be actively serving/have served in the military or have an immediate relative who has done so.
If you’re keen on learning more about the Navy Federal nRewards Secured Credit Card, then take a look at this informative article! Dive right in and find out more about what it has to offer.
