Whether you’re building credit for the first time or working to rebuild it, Navy Federal Credit Union offers a smart solution: a secured card that earns cash back with no annual fee.*
Exclusively for Active Duty Servicemembers, Veterans, their families, and Department of Defense personnel and contractors, the Navy Federal Credit Union cashRewards Secured Credit Card makes it easy to grow your credit while earning rewards on everyday purchases.
There are no fees to join or maintain your membership — just practical benefits designed to support your financial goals.
Ready to take control of your credit and start earning more from your spending? Let’s break down how.
A secured card that works harder for you
Designed to build or rebuild credit
If you’re just getting started with credit — or starting again — this card is built for you. It reports to all three major credit bureaus, so every on-time payment can help build your score.
When I moved to the U.S. from Australia 10 years ago, I didn’t have a credit history here. My first secured card came from a credit union, and after six months of responsible use, I qualified for an unsecured card. Fast forward to today: I have a credit score over 800 and more than 25 rewards cards in my wallet — and it all started with the foundation that one secured card gave me.
With Navy Federal, you could graduate to an unsecured cashRewards card in as little as six months, unlocking even higher rewards with no need to reapply.
Simple, rewarding cash back
You’ll earn unlimited 1% cash back on all eligible purchases** — with no categories to track, no limits on earnings and no expiration as long as your account stays open.
Cash back is credited automatically, so there’s nothing to activate — it just works for you.
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Low fees, high potential
No annual fee, no hidden costs
You’ll get all the perks without the price tag:
- No annual fee
- No balance transfer fee
- No foreign transaction fees — ideal for those stationed abroad
That kind of fee transparency is rare in the credit card world, especially for a product that earns valuable rewards.
Get started with just $200
You can open your account with a minimum deposit of $200 (and up to $5,000). That deposit becomes your credit limit and helps you establish a strong foundation, while it remains in your savings account, earning dividends.
After just three months, you could be eligible for a credit line increase.*** And after six months of responsible use, you may qualify for an upgrade to an unsecured card — all without a new application or credit check.
Extra perks
Your card also includes practical shopping and travel perks:
- Contactless payments: Just tap and go.
- Secondary rental car insurance: Covers damage, theft and towing for rentals of 15 days or less.
These extras make your spending — whether at home or abroad — smoother and more secure.
Part of a path to more rewards
Unlock more value with the cashRewards suite
Graduating from secured to unsecured doesn’t just boost your credit — it also boosts your rewards. If approved, you’ll automatically move to one of two unsecured cards:
- cashRewards: 1.5% cash back on eligible purchases
- cashRewards Plus: 2% cash back (if your credit line is $5,000 or higher)****
Upgrades happen within the same card family, so there’s no hard credit pull or need to reapply, and your credit history stays intact. Your secured deposit is refunded, and you keep all the progress you’ve made.
Is the Navy Federal cashRewards Secured Card right for you?
Who should consider this card
This card is an excellent fit for:
- First-time credit card users
- Those working to rebuild credit
- Military families and Department of Defense personnel seeking a no-annual-fee, rewards-earning option
You’ll need to join Navy Federal Credit Union, but that’s free and simple. There’s no membership fee — just a $5 minimum deposit to open your savings account. Navy Federal’s full field of membership includes:
- Active Duty Servicemembers: including members of the Army, Marine Corps, Navy, Air Force, Coast Guard, National Guard and Space Force
- Veterans
- Immediate Family Members: including spouses, siblings, parents, children, grandparents and grandchildren
- Department of Defense (DoD) employees
Bottom line
The Navy Federal cashRewards Secured Credit Card is a smart way to build or rebuild credit while earning cash back and avoiding certain fees. Here’s what makes it stand out:
- 1% cash back on every eligible dollar you spend
- No annual fee or foreign transaction fees
- A clear upgrade path to higher rewards
- Designed exclusively for military Servicemembers, Veterans, their families and Department of Defense personnel
It’s more than a credit card — it’s a smart step to a stronger credit future.
Learn more and apply here.
Disclaimers:
*As of 2/3/2025, 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.
**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.
***https://www.navyfederal.org/loans-cards/credit-cards/cash-rewards-secured.html#how-it-works
****cashRewards Plus credit cards earn 2% cash back on every $1 of eligible purchases. cashRewards credit cards earn 1.5% cash back on 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).
Navy Federal Credit Union is federally insured by NCUA.
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