An nRewards secured credit card is the best credit card to use if you're looking for a low purchase interest rate and no annual fee. The card offers a variety of perks including cellphone protection and credit score access. You will not be charged any foreign transaction fees, nor will you have to pay a fee for your first late payment.
There is no signup bonus
The nRewards Secured Credit Card from Navy Federal Credit Union is a great credit card that helps build credit while allowing consumers to earn rewards on purchases. It does not charge an annual fee or any other unnecessary fees, but you will need to make a $500 deposit into a qualifying NFCU savings account to qualify. You can get a credit line equal to your security deposit.
Your activity is also reported to the major credit bureaus. These bureaus are responsible for determining your credit score. If your card payments are made on time, you may be able to build a strong credit history and qualify you for better rates.
There is no annual charge
People looking to improve or build their credit score can choose a secured card with no annual fees. This card is low in balance transfer fees, has no foreign transaction fees, and does not charge a cash advance fee. This card also often has rewards that can be used to redeem for merchandise or gift cards. Cashback rewards are often worth a penny or two per point.
Navy Federal Credit Union nRewards secured Credit Cards are designed to help those who have poor credit or very low credit build their credit. To get an upgrade, you must use the card responsibly for at least six months. For the card to be used, you'll need to deposit $200.
The APR should be considered when you are looking for a secured debit card. A few cards have high APRs. It's important to keep your balance down. Look for one that reports directly to all three credit bureaus. The best options don't have an annual fee, and they offer rewards.
Low purchase interest rate
If you want to qualify for a low purchase interest rate on a secured credit card, consider applying for a card from Navy Federal Credit Union. There are no foreign transaction or balance transfer fees and you get a FICO score. You also have free phone protection and can make one late payment with no penalty.
The purchase interest rate of a secured credit card is low, which makes it attractive for those who plan to use it for large purchases or consolidating other debt. A low interest rate will help you pay off your balance more quickly, and can also help you build credit for the future. You may also be able to use contactless technology on your card to make payments at certain point-of-sale terminals. In addition, it can be used to use Apple Pay, Google Pay, and Samsung Pay.
The nRewards Secured Credit Card from Navy Federal allows you to earn rewards while building your credit score. Despite the low purchase interest rate, you can make purchases on the card for any purpose and avoid paying interest for six months. This card is particularly advantageous for people who are still working on building their credit history.