If you want a low rate of interest and no annual fees, an nRewards secure credit card is the right card. You get free access to your credit scores and protection via your cell phone. The card does not charge foreign transaction fees or a late fee.
Sign up bonus not available
Navy Federal Credit Union offers the nRewards Secured Credit Card. This credit card helps you build credit and gives you rewards for your purchases. The card does not have an annual fee. However, you must make a $500 savings deposit to a qualified NFCU savings account in order to be eligible. The amount of your security deposit will be applied to the card's credit limit.
The card reports all activity to the three major credit agencies. These bureaus determine credit scores. If you make timely payments to your card, you can build credit and qualify for higher rates.
There is no annual charge
If you are trying to rebuild or establish credit, the No annual fee nrewards Secured Card is a good choice. This type of card has a low balance transfer fee, no foreign transaction fee, and no cash advance fee. In addition, this type of card often offers rewards that you can redeem for merchandise and gift cards. Cashback rewards are often worth a penny or two per point.
Navy Federal Credit Union nRewards secured Credit card was created to help those with weak or moderate credit rebuild their credit. You will need to use the card responsibly at least six months before you can upgrade. To use the card, you will need to deposit $200
When looking for a secured card, you should consider a few factors, including the APR. High APR cards can be costly so you should keep your balance low. You should also look for one that reports to all three credit bureaus. The best options won't charge an annual fee and come with rewards.
Low purchase interest rate
Navy Federal Credit Union has a card that will allow you to get a lower purchase interest rate on your secured credit card. There are no foreign transaction or balance transfer fees and you get a FICO score. The card comes with free phone protection. You can also make one late payments without being penalized.
For people who intend to consolidate or make major purchases with the secured card, a low purchase interest rate is a good option. Low interest rates will allow you to pay your balance off more quickly and help you build credit in the future. Contactless technology may be available on the card, which allows you to pay at any point of sale terminals that are eligible. It can also be used for Apple Pay, Google Pay, or Samsung Pay.
Navy Federal's nRewards Secured credit card allows you to build your credit score and earn rewards. Despite the low purchase interest rate, you can make purchases on the card for any purpose and avoid paying interest for six months. This card is especially helpful for people who are still building their credit record.