Definitely one of the best secured credit cards you can get and one that comes highly recommended from many people. There’s only one downside and we’ve already shown you how to get around it!
This card is one of the few first-class secured cards that graduate and we’ve included it in the top of our list – which you can find here.
Now, down to the nitty gritty.
First, NFCU requires you become a member and make a deposit into your savings account prior to applying for this card, so make sure you’ve already gotten that out of the way before wasting a hard pull.
Prior to signing up for any secured card, remember that the deposit you make will not be available until the card closes or graduates – whichever comes first (or is the policy of the financial institution).
NFCU nRewards Secured Mastercard
Min. Deposit: $500 Apple Pay: Yes
Annual Fee: No Android Pay: Yes
Graduates: Yes Reports As: Unsecured
Rewards: Yes
APR: 9.24%-18.99%
Deposit Requirements:
Your credit line is equal to the deposit you make. The website only states a minimum requirement, but does not list a maximum like other cards do. We recommend calling before trying to make a deposit larger than $5,000 for this card.
Rewards Program
The nRewards program is a little different than NFCU’s other programs like GO Rewards. For every dollar spent on your card, you earn 1 point. Your points can be redeemed for gift cards or merchandise.
NFCU lists some sample rewards:
– 3,500 points for a $25 Applebees gift card (0.71% rate)
– 5,000 points for a $50 Best Buy gift card (1% rate)
– 7,500 points for a $75 Navy Fed Visa gift card (1% rate)
Final Thoughts
One of the best choices in a secured card. Has no annual fee, a great interest rate, full rewards program and you get an extra bonus with rental car insurance!
Usually NFCU will graduate you after 12 months, but it never hurts to call and ask early!
One minor setback to the rewards program – the points expire after 4 years, but it’s likely if you’re using this to establish your credit profile, you won’t keep it that long.
You can apply for the card here!
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