Navy Federal cashRewards Secured

This is a credit-building card first: a secured Visa with no annual fee that still pays 1% cash back on every purchase, which is more than many deposit-backed cards return. The real feature is the exit path, with a credit limit increase available after three months without adding to your deposit, monthly reviews for an upgrade to the unsecured cashRewards card starting at six months, and the security deposit of at least $200 returned when that upgrade goes through. The APR is a flat 18% rather than a range, so there is no better rate to qualify into, and the plan should be to pay in full every month regardless. Outside of rental car collision damage coverage there are no perks and no welcome offer, which is normal for the category and not a reason to avoid it. Use it for a year of on-time payments, take the upgrade when it is offered, and move your spending to a card that earns more.