Navy Federal cashRewards Secured Credit Card review

Navy Federal's cashRewards Secured card has the cheapest borrowing cost on this list, at an 18.00% variable APR as of November 11, 2026 for purchases and balance transfers. That matters for rebuilders who may carry a balance now and then. You deposit at least $200 and up to $5,000 into a membership savings account, and the amount becomes the card's spending limit. After 3 months the account can be reviewed for a credit line increase without adding to the deposit, and from 6 months Navy Federal reviews the account monthly for an upgrade to the unsecured cashRewards card, then removes the deposit hold within 3 to 5 business days. The card pays unlimited 1% cash back with no rotating categories and no expiration while open, and charges no annual fee, no foreign transaction fee and no cash advance fee. The catch is eligibility: membership is open to the armed forces, the DoD, veterans and their families.

Who it is for

service members, veterans and their families rebuilding credit

Price

$0 annual fee; deposit from $200 to $5,000.

No annual fee No foreign transaction fees No cash advance fees
Quoted from the vendor pricing page on November 11, 2026.

Key features

• Unlimited 1% cash back on all purchases with no rotating categories
• Deposit of at least $200 and up to $5,000 in a membership savings account sets the limit
• 18.00% variable APR on purchases and balance transfers as of 11/11/2026
• 3-month review for a credit line increase without adding to the deposit
• Monthly upgrade reviews from 6 months; hold removed within 3 to 5 business days after upgrade

Strengths and weaknesses

• Strength: Lowest APR on the list at 18.00% variable
• Strength: No annual, foreign transaction or cash advance fees
• Strength: Rewards do not expire while the card is open
• Weakness: Navy Federal membership is required
• Weakness: Minimum deposit is $200
• Weakness: Only 1% cash back

Key facts

• Annual fee: $0
• Minimum deposit: $200 (up to $5,000)
• Purchase APR: 18.00% variable as of 11/11/2026
• Rewards: Unlimited 1% cash back
• Upgrade review: Monthly from 6 months

Where it ranks

Navy Federal cashRewards Secured Credit Card is No. 4 in our Best Secured Credit Cards verdict.