cashRewards Secured Credit Card
Build Credit. Earn Unlimited 1% Cash Back.
Take charge of your credit! With cashRewards Secured, you can build credit, get a competitive APR and earn unlimited 1% cash back on all purchases.
Apply Now for the cash rewards secured credit card and start earning 1% cash back
Unlimited 1% cash back on all purchasesFootnote 1
3-month account review to determine eligibility for a credit line increase. See details.on how an upgrade works
Initial deposit as low as $200
6-month account review to determine eligibility for an unsecured cashRewards credit card.
Fees
- No annual fee
- No foreign transaction fees
- No cash advance fees
Program Description
How It Works
- Deposit at least $200 (up to $5,000) into your membership savings account.
- Submit your application. If approved, we’ll hold the deposit in your account as security. The amount you deposit will be your card’s spending limit.
- After just 3 months, you could be eligible for a credit limit increase. You don’t have to add to your deposit in order to be eligible. Whether your credit limit is increased will depend on your current credit limit and other factors.
- After 6 months, we’ll review your credit card account monthly to see if you’re eligible for an upgrade to a cashRewards unsecured card. Once you upgrade, you’ll get your security deposit back. Making on-time payments and keeping your balance under the credit limit can help you with approval for an upgrade to an unsecured card.
Features & Benefits
Rewards
Earn when you spend. Continue to accrue rewards until you’re ready to redeem.Footnote 1
- No rotating spend categories
- No cap on the rewards you can earn
- No rewards expiration while the card is open
For terms and conditions, see the cashRewards Secured Card Program Description.
Account Will Be Reviewed for Potential Upgrade
After 3 months of having your card and using it responsibly, you could be eligible for a credit line increase. If you qualify, we’ll provide you with additional credit to allow for spending beyond your deposit. Then, at 6 months, we’ll automatically review your account to see if you’re eligible to have your hold removed and to be upgraded to a cashRewards credit card.
We’ll remove the hold on your deposit within 3 to 5 business days once your account is upgraded to an unsecured card.
The review will be based on your general credit history, including your Navy Federal account. If you decide to close your account, your deposit will be returned, provided the remaining balance is paid.
Collision Damage Waiver
With your Navy Federal Visa® or Mastercard®, you automatically have Collision Damage Waiver (CDW) coverage when you rent a car for 15 days or less and pay for the rental with your covered rewards card. The CDW coverage is secondary to any other applicable insurance or coverage available to you.
Coverage includes physical damage and theft of the rental vehicle, reasonable towing charges, valid loss-of-use charges imposed by the auto rental company, as well as your deductible and any other eligible amounts not covered by other insurance. Only you, as the primary renter of the vehicle, and any additional drivers permitted by the auto rental agreement are covered.
Certain terms, restrictions and exclusions apply. For more information, please refer to your Auto Rental Insurance Guide. If you need a copy of the guide, please call 1-888-842-6328 or one of our international phone numbers.
Additional Card Benefits
Learn more about additional travel, entertainment and shopping benefits.
- Visa® Benefits: Visa® Benefits Site / Visa Benefits Guide
- Mastercard® Benefits: Mastercard Benefits Site / Mastercard Benefits Guide
Included With All Navy Federal Credit Cards
See What Our Members Have to Say
This card is amazing! You can gain reward points as well as build a strong relationship with Navy Federal. I highly recommend this card.
T. Moore
Love this credit card; thank you for giving me a chance to build credit. No one else gave me a chance but Navy Federal—thank you.
Alan
Disclosures
cashRewards Secured credit cards earn 1% cash back for every $1 of eligible purchases. Eligible purchases are purchases for goods and services, minus returns and other credits. Eligible purchases do not include fees, interest charges, balance transfers, gambling, convenience checks, cash advances, or other cash-equivalents (e.g., money orders, gift cards, prepaid cards). For more information, view the cashRewards Secured Program Description.
↵As of 07/18/2025, cashRewards Secured card rate is 18.00% APR and will vary with the market based on the U.S. Prime Rate. ATM cash advance fees: None, if performed at a Navy Federal branch or ATM. Otherwise, $0.50 per domestic transaction or $1.00 per foreign transaction.
↵The Contactless Symbol is a trademark owned by and used with permission of EMVCo, LLC.
↵The views expressed in the reviews are solely those of the individuals posting them. The testimonials are substantively the words of the individual reviewer, but may have undergone minor clerical revisions to ensure readability, add context, or protect private information. Any imagery displayed is for decorative purposes only and is not necessarily associated with the reviewer.