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Navy Federal Launches new cashRewards Secured card
Navy Federal Launches New cashRewards Secured Card
The new secured card replaces the nRewards Secured Credit Card, which is now closed to new applications.Many or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this does not influence our evaluations or ratings. Our opinions are our own.
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Navy Federal is making changes to its credit card portfolio. Starting April 2, 2025, members of the credit union who qualify can apply for the new cashRewards Secured credit card. Here’s more about the card, including its main features and benefits: Annual fee: $0. Annual fee: Security deposit: Minimum $200. Security deposit: Sign-up bonus: None. Sign-up bonus Rewards: Unlimited 1% cash back on every purchase. Rewards: Foreign transaction fee: None. Foreign transaction fee Balance transfer fee: None. Balance transfer fee Ability to upgrade: After six months, cardholders are eligible to receive an account review to determine eligibility for an unsecured cashRewards Credit Card. Ability to upgrade: Issuer: When you apply for the card, you can choose to have Mastercard or Visa as your card's payment network. The perks and benefits differ depending on which you choose. Issuer The new secured card is replacing the previously offered Navy Federal Credit Union® cashRewards® Secured Credit Card — which stopped accepting new applications on April 2, 2025. Existing nRewards cardholders will automatically be moved to the new cashRewards Secured card and will receive a new card in the coming months, according to Navy Federal. Plus, existing nRewards points will convert to cash back. Navy Federal points are worth about a cent each and can be redeemed for cash back, merchandise or gift cards. Navy Federal Credit Union® cashRewards® Secured Credit Card Note that you have to be a member of the Navy Federal Credit Union to apply for any Navy Federal credit card. To become a member, you must meet certain eligibility requirements, and that typically means you must be a current or former member of the military or have a family member that is. To join the credit union, you’re required to open a membership savings account and have a minimum $5 balance. » MORE: NerdWallet’s best secured credit cards » MORE: Article sources NerdWallet writers are subject matter authorities who use primary, trustworthy sources to inform their work, including peer-reviewed studies, government websites, academic research and interviews with industry experts. All content is fact-checked for accuracy, timeliness and relevance. You can learn more about NerdWallet's high standards for journalism by reading our editorial guidelines. About the author Funto Omojola Funto Omojola is a writer at NerdWallet. Funto's work has been featured in MarketWatch, Yahoo Finance and Nasdaq. See full bio. Helpful resources Best Cash Back Credit Cards Best Travel Credit Cards Best Balance Transfer Credit CardsFind the right credit card for you.
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