Credit Cards (US)

First Savings credit card full review

The First Savings card is an excellent option for those with a poor credit score. So, check out our review to learn more about its benefits!

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by Aline Augusto

Published on 12/14/2021

First Savings card: re-establish a good credit score!

See what are the benefits of this credit cards. Source: First Savings Credit Card.
See what are the benefits of this credit cards. Source: First Savings Credit Card.

First Savings bank is a financial group that offers checking and saving accounts and now features a credit card specially made for those who need to re-establish a good credit score.

The First Savings card is a Mastercard, so you can use it wherever it is accepted, that is all around the world.

Therefore, while using it to purchase your everyday stuff and paying for it on time, you can work on your credit-building easily and quickly.

Credit ScorePoor
Annual FeeFrom $0 to $$75 depending on your credit score
Regular APR29.99% (variable)
Welcome bonusNone
RewardsNone
Logo First Savings credit card fundo verde

How to apply for First Savings?

A First Savings card is a good option if you have a poor credit score. Learn now how to apply for one!

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How does the First Savings credit card work?

Build your credit score with a First Savings credit card! Source: Canva.
Build your credit score with a First Savings credit card! Source: Canva.

This credit card was launched thinking of those who have a poor credit score. Actually, you only apply for this card if you are invited to do so.

Firstly, you have to receive an offer by email and then be eligible to submit an application. 

In summary, the card works like other credit cards. There is no need to make a security deposit, as it is an unsecured card.

Also, it offers a $300 credit line at the beginning. Plus, it provides you with fraud protection and coverage, so you don’t need to worry about it.

Note that it charges a variable annual fee depending on your credit score and profile. And there are no welcome bonuses or rewards.

Besides the annual fee, you will pay a 2% foreign transaction fee, up to 5% as a cash advance fee, up to $25 as a late payment fee, and $20 for each authorized user.

First Savings benefits

Learn more about the First Savings credit card. Source: Pixabay.
Learn more about the First Savings credit card. Source: Pixabay.

The main benefit you get by applying for this credit card is that it helps you build your credit score. Since it reports to all major credit bureaus, and as long as you pay your bills on time, it helps you increase your credit history right away.

Plus, it is a Mastercard, which means you are covered with convenience, acceptance, fraud protection, and more.

Moreover, it offers online and free access to a First Savings account, and there is no need to make a security deposit.

On the other hand, pay attention to the fees. It charges an annual fee, foreign transaction fee, and other regular fees like other traditional credit cards.

Pros

  • It doesn’t require a security deposit when you open an account
  • And, it accepts a poor credit score for the application
  • It helps you build your credit score
  • Plus, it offers free and online access to the account
  • It offers fraud coverage
  • Mastercard convenience

Cons

  • Low credit line
  • Annual fee
  • No rewards or welcome bonuses

How good does your credit score need to be?

You don’t need a perfect credit score to apply for this card. Actually, if you have a poor credit history, you can get an invitation by email to join First Savings.

How to apply for First Savings?

Read our next post to learn how to apply for a First Savings credit card and start 2022 building your credit score.

Logo First Savings credit card fundo verde

How to apply for First Savings?

A First Savings card is a good option if you have a poor credit score. Learn now how to apply for one!

About the author

Aline Augusto

My name is Aline Mesquita; I'm a writer here on the blog, where I write about finance in general and other subjects. I have been working with content creation for ten years. Also, I'm post-graduated in Project Management, with expertise in SEO practices. Currently, I am studying finance, market trends, and cryptocurrencies.

Reviewed by

Aline Barbosa

Senior Editor

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