First Access Credit Card Review 2025: Pros & Cons

• $95 set-up price
• $75 annual price that drops to $48 in subsequent years
• Excessive APR of 35.99%
• Low credit score restrict of $300 that you simply can not enhance for at the least 12 months
• Pays 1% money again rewards on funds solely, not purchases

The First Entry bank card utility is on-line, and you’ll have a solution inside minutes. It takes only some minutes to enter your data and decide when you’re accepted.

If First Entry can’t approve your utility immediately, they’ll ship you an e-mail or letter telling you what they should proceed processing your utility or why they couldn’t approve it.

Though the First Entry bank card is for individuals with low credit score who have to construct credit score, it’s a typical Visa® bank card. This implies you should use it on the hundreds of shops that settle for Visa®.

To encourage cardholders to construct optimistic credit score, First Entry pays 1% money again on all funds made towards your invoice. This implies for each $100 you pay, you earn $1. Whereas it’s not a ton, it’s free cash, and also you construct your credit score.

The First Entry bank card doesn’t require a safety deposit. Whereas the credit score line is low for brand new cardholders, you don’t should provide you with cash to place down on the cardboard simply to have a credit score line.

Understanding the drawbacks of the First Entry bank card is vital that will help you resolve if it’s best for you.

In the event you earn cashback by paying your invoice, you can not redeem it for six months. As well as, you need to wait till you’ve collected 500 factors (you earn 1 level for every greenback paid). So, the minimal reward you may redeem is $5.

Excessive-Curiosity Fee

The First Entry bank card rate of interest is way greater than most bank cards. At 35.99%, your purchases will rapidly add up, and staying on high of your invoice may very well be arduous. The debt can accumulate rapidly when you cost greater than you may afford to repay.

First Entry doesn’t require good credit score, however you need to have an lively checking account to get accepted. You’ll have to look elsewhere when you don’t have a checking account and try to construct credit score.

Few individuals would profit from the First Entry bank card due to its extreme charges and rates of interest. The one upside is that you simply don’t want a safety deposit.

So, when you don’t have cash to place down on a card (even $200), this can be a viable possibility however don’t hold it for a couple of 12 months.

It’s going to value you $95 to set it up and one other $75 in an annual price, but when it helps you construct credit score with out making a safety deposit, it may be price it when you use the cardboard accurately.

There are a number of alternate options to the First Entry bank card to contemplate, together with the next.

Our First Entry bank card assessment uncovered the whole lot to know in regards to the card that will help you decide if it’s a very good match. Listed here are another questions individuals have about it.

There are a lot of different choices than the First Entry bank card for a primary bank card. Even when you don’t have credit score but, there are secured bank card choices with a lot decrease APRs and annual charges that make them higher playing cards, such because the Uncover it® bank card.

First Entry advertises its card as a credit-building bank card. They report your exercise to all three credit score bureaus, so when you pay your invoice on time and don’t max out your card, it’s possible you’ll enhance your credit score rating utilizing it.

The First Entry bank card begins everybody with a $300 credit score restrict for the primary 12 months. You’ll be able to request a credit score line enhance after 12 months, however they cost a price equal to 25% of the rise, so take into account your choices.

The First Entry bank card prefers a credit standing between 550 to 620. They are saying the cardboard is for credit score constructing and is supposed for individuals with no or low credit score.

Sure, one of many few stipulations First Entry has to get accepted is you need to have an lively checking account in good standing.

You’ll be able to request a credit score line enhance after 12 months by calling the customer support quantity on the again of your card. Not everyone seems to be eligible for a credit score line enhance, however that’s frequent for any bank card.

To keep away from it, you need to cancel the First Entry bank card earlier than your annual price is assessed. In the event you cancel after the price is assessed, you’ll not obtain a refund even when you didn’t use the cardboard.

You will get a money advance in your First Entry bank card. It’s topic to the 35.99% APR, however there aren’t any money advance charges for the primary 12 months. After the primary 12 months, they cost $10 or 3% of the money advance.  The price you’re charged is the larger of the 2.

The query this First Entry bank card assessment solutions: is the First Entry bank card finest for you?

Truthfully, there are higher choices, even when you’ve got low credit score or no credit score. You’d be higher off with a secured bank card with a low credit score restrict to construct your credit score.

[1] Editorial Content material Disclosure: The editorial content material on this web page (together with, however not restricted to Execs and Cons) will not be supplied by any bank card issuer. Any opinions, analyses, evaluations, or suggestions expressed listed here are the creator’s alone, not these of any bank card issuer, and haven’t been reviewed, accepted, or in any other case endorsed by any bank card issuer.
[2] Calculated on the VantageScore 3.0 mannequin. Your VantageScore 3.0 from Experian® signifies your credit score threat degree and isn’t utilized by all lenders, so don’t be shocked in case your lender makes use of a rating that’s totally different out of your VantageScore 3.0.