nRewards® Secured

Robin Saks Frankel  in  No Credit History Advertising Disclosure
Annual Fee:
No Annual Fee.
Purchase Intro APR:
Regular APR:
Currently, rates range from 10.74% APR to 18.00 % APR, are based on creditworthiness, and will vary with the market based on the Prime Rate.
Terms and Restrictions Apply | Rates and Fees
Bankrate Score: 90 out of 100

Commonly used for: Bad Credit, Low Interest, No Annual Fee, No Credit History, No Foreign Transaction Fees, Rewards.

This card offer is currently unavailable on Bankrate. To see more cards in this category, please visit our bad credit category page.

The nRewards Secured card from Navy Federal Credit Union offers this rare combination: It pays credit card rewards to those who are also working on rebuilding their credit. That’s something you’ll find with just a handful of secured credit cards.


If you’re looking for a secured credit card it typically means one of two things:

What sets the nRewards Secured card apart is its lack of fees coupled with its award-earning potential. For every $1 spent, you’ll earn 1 point, worth about 1 cent when you redeem it for merchandise or gift cards through Navy Federal’s portal.

It’s not uncommon to see secured cards that charge an annual fee, a processing fee or sometimes a combination of both. The nRewards card skips these charges. Navy Federal Members can open an account with only a security deposit, starting at a minimum of $500, and using that amount as the line of credit.

Lower fees are an important benefit because any upfront cost you have to pay will instantly reduce your purchasing power and chip away at your credit utilization ratio, which can negatively impact your score.

For example, if you put down $500 to get a secured card from another issuer, but you’re charged a $50 annual fee and a $75 one-time processing fee, you will only have $375 worth of credit left.

The no-fee structure of the nRewards card will give you a better chance of using your credit line responsibly so you can build up a stronger credit profile over time. The card also doesn’t charge foreign transaction fees — another plus, especially for Navy Federal members in the military who are stationed overseas.

Perhaps best of all, this card also has one of the lowest APR rate ranges we’ve seen for a secured card. The variable APR ranges from 9.99% to 18.0%, depending on what you qualify for, meaning you could be charged less interest than on many unsecured cards.

But you need to pay your bill on time or you’ll be subject to a variable penalty APR of 18.0%, which will apply until you make at least six consecutive monthly payments on time, plus a late fee of up to $20.

Keep in mind that only credit union members can apply for this card. Eligibility is restricted to those who serve or have served in the military or are an immediate family member of someone in the military.

If you meet that criteria, the nRewards card is an outstanding choice for a secured credit card.

Who should get this card

Anyone who qualifies for Navy Federal Credit Union and wants a fee-free, low-interest secured card.

  • This card has lower-than-average interest rates.
  • Unlike most secured cards, this card pays rewards.
  • There’s no fee to own this card.
  • Rewards can’t be redeemed for cash.
  • There’s no option to graduate to a secured card.
  • There is a penalty APR with this card.

Fees and APR

  • The variable APR for purchases and balances transfers is 9.99% to 18.0% based on creditworthiness.
  • Minimum security deposit is $500.
  • There are no annual fees, balance transfer fees or foreign transaction fees.
  • A penalty of 18.0% may apply if you miss a payment. You’ll also be charged a $20 late fee.

Extras, perks and using points

Card owners have access to Visa discount coupons.

Rewards expire four years from the month in which they were earned. Earnings can only be redeemed for gift cards or merchandise through the Navy Federal portal.

How this card compares

Discover it® Secured
  • No Annual Fee, earn cash back, and build your credit with responsible use.
  • It's a real credit card. You can build a credit history with the three major credit bureaus. Generally, debit and prepaid cards can't help you build a credit history.
  • Establish your credit line by providing a refundable security deposit from $200-$2500 after being approved. Bank information must be provided when submitting your deposit.
  • Automatic reviews starting at 8 months to see if we can transition you to an unsecured line of credit and return your deposit.
  • 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases every quarter, automatically. Plus, earn unlimited 1% cash back on all other purchases.
  • Get 100% U.S. based customer service & get your free Credit Scorecard with your FICO® Credit Score
  • We automatically match all the cash back you've earned at the end of your first year.
  • Receive Free Social Security number alerts— Discover will monitor thousands of risky websites when you sign up.
Apply Now On Discover's secure website
Credit Needed

Limited/Bad Credit

Regular APR

25.24% Variable

Annual Fee


Purchase Intro APR


Balance Transfers Intro APR

10.99% for 6 months

The Discover it Secured Card packs a powerful punch of attributes not typically seen in secured cards. For starters, you earn cash back with the card—something no other secured card on the market offers. And it will double your cash back at the end of the first year. The bank will also review your account, starting at eight months to see if you qualify to graduate to an unsecured card.

Credit One Bank® Platinum Card
  • See if you Pre-Qualify without harming your credit score. Find the card that's right for you in less than 60 seconds.
  • and the Credit One Bank mobile app makes it easy to access and manage all your account information and make payments whether you're at home or on-the-go.
  • Know you're protected from unauthorized charges with Zero Fraud Liability—included with every Credit One Bank account
  • Take advantage of free online access to your Experian credit score and credit report summary so you can track the key factors impacting your credit health. Terms apply.
  • Give your credit a boost with credit line increase opportunities, a fee may apply.
  • Eligible purchases such as gas, groceries, mobile phone, internet, cable and satellite TV will automatically earn 1% cash back rewards. Terms apply.
  • Always know what's happening with your account with custom email and text alerts to remind you about your payment due date, notify you when a payment posts, or warn you if your available credit runs low.
  • Customize your card by selecting a unique design from Credit One Bank's card gallery. There are more than 20 options to choose from. A fee may apply.
Apply Now On Credit One Bank's secure website
Credit Needed

Bad Credit

Regular APR

20.24% - 26.24% Variable

Annual Fee

$0 - $99

Purchase Intro APR


Balance Transfers Intro APR


The Credit One Bank Platinum Card offers some rewards, and offers decent APRs for a secured card. A major drawback of the Credit One Bank Platinum Card is that you won’t know the exact terms of your offer until you’ve applied.

OpenSky® Secured Visa® Credit Card
  • No credit check necessary to apply. OpenSky believes in giving an opportunity to everyone.
  • The refundable* deposit you provide becomes your credit line limit on your Visa card. Choose it yourself, from as low as $200.
  • Build credit quickly. OpenSky reports to all 3 major credit bureaus.
  • 99% of our customers who started without a credit score earned a credit score record with the credit bureaus in as little as 6 months.
  • We have a Facebook community of people just like you; there is a forum for shared experiences, and insights from others on our Facebook Fan page. (Search "OpenSky Card" in Facebook.)
  • OpenSky provides credit tips and a dedicated credit education page on our website to support you along the way.
  • *View our Cardholder Agreement located at the bottom of the application page for details of the card.
Apply Now On Capital Bank's secure website
Credit Needed

No credit check

Regular APR

19.64% (variable)

Annual Fee


Purchase Intro APR


Balance Transfers Intro APR


The two reasons you may want to apply for the OpenSky Secured Visa Credit Card is if you don’t own a checking account, but still want access to a credit card, or if you’re looking for a secured card with a decent annual percentage rate.

There’s a very narrow band of consumers this applies to, we imagine.