Navy Federal is making adjustments to its bank card portfolio. Beginning April 2, 2025, members of the credit score union who qualify can apply for the brand new cashRewards Secured bank card.
Right here’s extra in regards to the card, together with its most important options and advantages:
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Safety deposit: Minimal $200.
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Rewards: Limitless 1% money again on each buy.
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Overseas transaction charge: None.
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Steadiness switch charge: None.
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Capability to improve: After six months, cardholders are eligible to obtain an account overview to find out eligibility for an unsecured cashRewards Credit score Card.
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Issuer: While you apply for the cardboard, you may select to have Mastercard or Visa as your card’s fee community. The perks and advantages differ relying on which you select.
The brand new secured card is changing the beforehand provided Navy Federal Credit score Union® nRewards® Secured Credit score Card — which stopped accepting new functions on April 2, 2025. Current nRewards cardholders will mechanically be moved to the brand new cashRewards Secured card and can obtain a brand new card within the coming months, based on Navy Federal. Plus, current nRewards factors will convert to money again. Navy Federal factors are value a few cent every and might be redeemed for money again, merchandise or present playing cards.
Word that it’s a must to be a member of the Navy Federal Credit score Union to use for any Navy Federal bank card. To turn out to be a member, you need to meet sure eligibility necessities, and that sometimes means you should be a present or former member of the army or have a member of the family that’s.
To affix the credit score union, you’re required to open a membership financial savings account and have a minimal $5 stability.