Navy Federal nRewards Secured Credit Card is perfect for individuals looking to improve their credit rating and get rewards along the way.
It offers great features that would be beneficial to any consumer. With this particular card, you can earn 1 point for each dollar spent. Once you’ve accumulated enough points, they can be redeemed for rewards such as gift cards, statement credits, merchandize and cash back.
At nRewards Secured Credit Cards, you have the privilege of using your card without any annual fees. There are no transfer balance fees, cash advance fees or international transactions fees either. Just make sure to deposit a minimum of $200 as security and you will be able to start utilizing your card right away.This card has an APR of 18%, which is lower than what is typically seen with secured & unsecured credit cards. However, the benefits such as rewards and the lack of fees more than make up for this rate.
More about nRewards Secured Credit Card
Navy Federal members who have a savings account can take advantage of this card. If you’re not yet a member, you can apply to join – you just need to be a veteran or service personnel, or have an immediate family member who is. In order to start a savings account with them, you need to deposit at least $5. This will be the source of funds for your secure card. Making a deposit to this account ensures that your finances are safeguarded.
This card offers access to the three main credit bureaus and can help you get your credit report. Furthermore, it increases your score, which is of great significance when applying for insurance or loans. Having a good credit score is essential, particularly for military personnel and their families. It’s important to keep track of your credit and make sure it stays in good standing.
The most salient feature of the Navy Federal secured card is its rewards program – a benefit that most other secured cards don’t offer. nRewards offers the chance to earn one point for each dollar spent with their card. Collect as many points as you can, but please note that any points not used in four years will expire.
More features of the nRewards Secured Credit Card
Navy Federal nRewards gives you the convenience of carrying your credit and debt details on your mobile and digital wallets. This means that you don’t have to carry an actual card for making purchases since you can do so with just your phone.
An added benefit of this credit card is the ability to quickly freeze or unfreeze it through an app. Plus, it has contactless technology which eliminates the need to slide your card in at transactions – making your purchases secure & preventing potential fraud occurrences.
To top it off, this card offers a zero liability policy. In case you find any unrecognized charges in your credit balance, you can report them immediately and you don’t have to worry about taking responsibility for them. Beyond that, you’ll also receive alerts if any dubious activity appears in your account, so you can be sure your money is safe.
How to apply for the Navy Federal Memebership
Navy Federal Membership is a requirement for applying to the nRewards Secured Credit Card. You can become a member of this service if you are actively serving or have served in the Armed Forces, or any of your family members have done so. This also includes Defense Department personnel and retirees from the Armed Forces.
To become a member of the nRewards program, you will need to provide your social security number, current address, valid driver’s license/ID and credit card/bank account details. Upon successful application & payment of the minimum deposit of $200, you can get your nRewards Secured Credit Card.
The Navy Federal will make a check on your credit, but this will not affect your actual score.
Apply to nRewards Secured Credit Car
Eligible individuals can apply for the nRewards Secured Credit Card on the Navy Federal Credit Union website. The process is straightforward and requires some necessary personal and financial details, such as your annual income, to be entered. Navy Federal will examine your credit history after you submit your application. If approved, they’ll notify you via text or mail, and you can expect to receive your card within 7-10 days.
Interested in learning more about the Navy Federal nRewards Secured Credit Card? Read on to find out all you need to know.