The Ultimate Guide to Credit Cards
Thursday, November 30, 2023

nRewards® Secured Credit Card Review

Toby Sembower

By: Toby Sembower

Toby Sembower
Toby Sembower

Toby is the founder of CardRates.com and lends his 20 years of experience in the credit card industry to educate consumers. His commentary and reviews have been featured to millions on Yahoo! Finance, CreditCards.com, Entrepreneur.com, and others. Toby's industry connections enable him to keep audiences informed with timely advice and insight.

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Editor: Lillian Guevara-Castro

Lillian Guevara-Castro
Lillian Guevara-Castro

Lillian Guevara-Castro brings more than 30 years of editing and journalism experience to the CardRates team. She has written and edited for major news organizations, including The Atlanta Journal-Constitution and the New York Times, and she previously served as an adjunct journalism instructor at the University of Florida. Today, Lillian edits all CardRates content for clarity, accuracy, and reader engagement.

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Reviewer: Ashley Fricker

Ashley Fricker
Ashley Fricker

Ashley has more than a decade of experience as a finance contributor and editor, and has specialized in the credit card industry since 2015. She has worked closely with the world’s largest banks and financial institutions, up-and-coming fintech companies, and press and news outlets to curate comprehensive content and media. Her credit card commentary is often featured on national media outlets that include CNBC, MarketWatch, Investopedia, and Reader's Digest, among many others.

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nRewards® Secured Credit Card Review

Rated 4.1 /5.0 ★★★★

Are you considering the nRewards® Secured Credit Card? Before you apply for the card, you'll want to learn some key facts about the offer and how it compares to others on the market.

In reviewing the card, our staff rated it a 4.1 out of 5.0.

This card is a great secured option for those affiliated with the military who are new to credit or need to rebuild a low credit score. And, it provides rewards, which is an uncommon perk from a credit-building card.

Here's a rundown of the key features, rates, and terms of the nRewards® Secured Credit Card:

Disclosure: When you apply through links on our site, we often earn referral fees from partners. For more information, see our ad disclosure and review policy.

Advertiser Disclosure

CardRates.com is a free online resource that offers valuable content and comparison services to users. To keep this resource 100% free, we receive compensation for referrals for many of the offers listed on the site. Along with key review factors, this compensation may impact how and where products appear across CardRates.com (including, for example, the order in which they appear). CardRates.com does not include the entire universe of available offers. Editorial opinions expressed on the site are strictly our own and are not provided, endorsed, or approved by advertisers.

nRewards® Secured Credit Card Review

at the issuer'ssecure website

BEST OVERALL RATING

★★★★

4.1

OVERALL RATING

  • Earn 1X points per dollar spent with no limit on the amount of rewards you can earn; rewards expire after 4 years.
  • Deposit at least $200 into your membership savings account (before submitting your application) to back your spending. If approved, we’ll hold your deposit in your account as your card’s credit limit. As you use your card, you’ll earn rewards just like any other credit card, while also earning dividends on your deposit—just like any other savings account.
  • No annual fees, no balance transfer fees, no foreign transaction fees, and no cash advance fees.
  • After just 3 months, you could be eligible for an upgrade. If you qualify, we’ll provide you with additional credit to allow for spending beyond your deposit. Then, at 6 months, we’ll review your account monthly to see if you’re eligible to have your hold removed and be upgraded to a cashRewards unsecured card.
  • Rental car coverage
  • Must be a member of Navy Federal Credit Union to qualify
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
18.00%
$0
None/Poor

There's certainly a lot to like about the nRewards® Secured Credit Card. Let's dive deeper into the card's rates and fees, as they could make or break whether owning the nRewards® Secured Credit Card is right for you.

Interest Rate & Annual Fee

According to the issuer, the nRewards® Secured Credit Card currently charges the following interest rates on purchases and balance transfers:

  • Purchase Intro: N/A
  • Balance Transfer Intro: N/A
  • Regular APR: 18.00%

Here's the annual fee for the nRewards® Secured Credit Card as listed by the issuer:

  • Annual Fee: $0
See site for details »

Credit Needed for Approval

According to the issuer, the current general credit history requirement for the nRewards® Secured Credit Card is:

  • Credit Level:

If you feel you have the credit needed for approval and you're ready to apply, you can do so online on the issuer's secure website.

Keep in mind that rates and features may change, so if you like what the nRewards® Secured Credit Card is offering today, you may want to apply now to lock it in current terms before it's too late.

How Does It Rank?

Below are all the ratings our team gives the nRewards® Secured Credit Card, along with the card's ranking within each category. To see how it compares to other cards, simply click on the category name:

(Ranked #22 out of 32)
★★★★
4.3
(Ranked #108 out of 158)
★★★★
4.1
(Ranked #25 out of 40)
★★★★★
4.5
(Ranked #17 out of 33)
★★★★
4.4
(Ranked #35 out of 40)
★★★★
3.5

Bottom Line on nRewards® Secured Credit Card

nRewards® Secured Credit Card Review

All told, our team's review of the nRewards® Secured Credit Card resulted in a rating of 4.1 out of 5.0, as the card features many pros and cons for a potential cardholder to consider. Ultimately, it's up to you to determine if the card's benefits outweigh its possible drawbacks.

If you're ready to apply for the nRewards® Secured Credit Card, here is the link the issuer's official application:

Other Offers to Consider

Are you ready to apply for the nRewards® Secured Credit Card offer? Be sure to read up on all of its terms and details first, then apply via the provider’s secure website:

If you’d like to keep researching, you may want to try one of our popular guides to the top offers available. We break down a variety of offers, including many similar to nRewards® Secured Credit Card:

Whether you decide on nRewards® Secured Credit Card or another option, be sure to make all your payments on time and keep your balance below the credit limit.

About the Author

Toby Sembower
Toby Sembower Finance Expert

Toby is the founder of CardRates.com and lends his 20 years of experience in the credit card industry to educate consumers. His commentary and reviews have been featured to millions on Yahoo! Finance, CreditCards.com, Entrepreneur.com, and others. Toby's industry connections enable him to keep audiences informed with timely advice and insight.

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Toby Sembower