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First Entry Credit score Card Overview 2023: Professionals & Cons


The First Entry bank card claims it should provide help to construct credit score. Do you have to go for it for those who don’t have good credit score and need assistance constructing credit score?

Discover out about this card and the way it provides up in our First Entry bank card overview[1].

First Entry Credit score Card Highlights

First Access Credit Card Art
  • $95 set-up payment
  • $75 annual payment 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

Apply for the First Entry Card


First Entry Credit score Card Most important Advantages & Perks

If you wish to rebuild your credit score, it’s possible you’ll come throughout the First Entry bank card. Whereas it doesn’t have probably the most constructive opinions, there are some advantages to think about.

Simple Software Course of

The First Entry bank card software is on-line, and you’ll have a solution inside minutes. It takes only some minutes to enter your info and decide for those who’re accepted.

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

Accepted Wherever Visa® is Accepted

Regardless that the First Entry bank card is for folks with a bad credit score who must construct credit score, it’s a regular Visa® bank card. This implies you should use it on the hundreds of shops that settle for Visa®.

Earn Rewards for Making Funds

To encourage cardholders to construct constructive 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.

Stories to All Three Credit score Bureaus

First Entry experiences your bank card exercise to all three credit score bureaus. Should you use your card correctly, pay your invoice on time, and don’t overextend your credit score line, it’s possible you’ll enhance your credit score rating with common use of this card.

No Safety Deposit

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 need to provide you with cash to place down on the cardboard simply to have a credit score line.

Presents Free Entry to VantageScore® and Credit score Schooling

First Entry affords free entry to your VantageScore®[2] credit score rating and credit score training to proceed credit score constructing. With common monitoring and seeing your progress, it’s possible you’ll proceed to make good credit score and spending habits to enhance your credit score rating.


First Entry Credit score Card Most important Drawbacks

Understanding the drawbacks of the First Entry bank card is essential that can assist you resolve if it’s best for you.

Excessive Charges

The most important draw back we need to point out within the First Entry bank card overview is the charges (see Charges & Charges). They’re extreme and never typical for many bank cards. They embody:

  • $95 set-up payment
  • $75 annual payment initially, then $48
  • $8.25 month-to-month payment after the primary yr
  • $10 or 3% of every money advance after the primary yr
  • As much as $41 late or returned fee payment
  • Extra card payment of $29 per licensed consumer
  • Premium card design payment of $10
  • Credit score restrict enhance payment equal to 25% of the rise

Maintain Studying: Are Annual Payment Credit score Playing cards Value It?

You Should Wait Six Months to Redeem Rewards

Should you earn cashback by paying your invoice, you can’t redeem it for six months. As well as, you should wait till you’ve amassed 500 factors (you earn 1 level for every greenback paid). So, the minimal reward you’ll be able to redeem is $5.

Excessive-Curiosity Fee

The First Entry bank card rate of interest is far greater than most bank cards. At 35.99%, your purchases will rapidly add up, and staying on high of your invoice could possibly be laborious. The debt can accumulate rapidly for those who cost greater than you’ll be able to afford to repay.

You Should Have a Checking Account

First Entry doesn’t require good credit score, however you should have an energetic checking account to get accepted. You will have to look elsewhere for those who don’t have a checking account and try to construct credit score.


Who Is First Entry Credit score Card Finest For?

Few folks 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, for those who don’t have cash to place down on a card (even $200), this can be a viable choice however don’t hold it for multiple yr.

It would value you $95 to set it up and one other $75 in an annual payment, but when it helps you construct credit score with out making a safety deposit, it may be value it for those who use the cardboard appropriately.


Finest Alternate options to First Entry Credit score Card

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

Capital One Platinum Secured Credit score Card

You don’t want nice credit score for the Capital One Platinum Secured bank card, because it’s a credit-building card. Relying in your {qualifications}, it’s possible you’ll solely want $49, $99, or $200 all the way down to get a $200 credit score line.

The safety deposit is refundable with correct use, and it’s possible you’ll get a better credit score restrict or unsecured card routinely in as little as six months.

Credit score One Financial institution® Platinum Visa® for Rebuilding Credit score

The Credit score One Financial institution® Platinum Visa® bank card is supposed for constructing credit score, however it pays cash-back rewards. You’ll be able to earn 1% again on purchases, plus extra rewards for purchases from associate retailers.

This card has a $75 annual payment ($99 after the primary yr) however doesn’t require a safety deposit.

First Progress Platinum Elite Mastercard® Secured Credit score Card

The First Progress Platinum Elite Mastercard® secured bank card doesn’t require a minimal credit score rating, and its annual payment is barely $29; nevertheless, you should put down a safety deposit, which is your credit score line.

Uncover it® Secured Credit score Card

The Uncover it® secured bank card requires a safety deposit beginning at $200, which is then your credit score line. Uncover will overview your account historical past beginning at seven months. Should you use the cardboard responsibly, they may refund your safety deposit.

They may then improve you to an unsecured card with typical Uncover advantages, together with cash-back rewards. Within the meantime, you’ll be able to earn 2% again on fuel and restaurant purchases as much as $1,000 per quarter and 1% again on every part else with the secured card.


Steadily Requested Questions

Our First Entry bank card overview uncovered every part to know in regards to the card that can assist you decide if it’s a very good match. Listed below are another questions folks have about it.

Is the First Entry Credit score Card a Good First-Time Credit score Card?

There are a lot of different choices than the First Entry bank card for a primary bank card. Even for those who 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.

Does the First Entry Credit score Card Assist Construct Credit score?

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

What’s the Credit score Restrict With a First Entry Credit score Card?

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

What Credit score Rating Do You Want for the First Entry Credit score Card?

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 folks with no or a bad credit score.

Do I Want a Checking Account To Get a First Entry Credit score Card?

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

Does the First Entry Credit score Card Give Credit score Will increase?

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 widespread for any bank card.

Is the First Entry Credit score Card Secured?

No, the First Entry bank card isn’t secured. They make up for the danger this poses by charging an excessively excessive APR.

Do I Have To Pay the First Entry Credit score Card Annual Payment if I Cancel the Card With out Utilizing It?

To keep away from it, you should cancel the First Entry bank card earlier than your annual payment is assessed. Should you cancel after the payment is assessed, you’ll not obtain a refund even for those who didn’t use the cardboard.

Can I Get a Money Advance for My First Entry Credit score Card?

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 yr. After the primary yr, they cost $10 or 3% of the money advance.  The payment you’re charged is the better of the 2.

How Do I Pay My First Entry Credit score Card?

The cell app is the best option to pay in your First Entry card. It’s also possible to pay on-line.

How Do I Apply for the First Entry Credit score Card?

You’ll be able to apply for the First Entry bank card on-line. Finishing the applying takes a couple of minutes, and it is best to have a solution immediately. You should utilize the cardboard after you’ve paid your $95 program payment and obtain your card within the mail.


Is the First Entry Credit score Card Finest for You?

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

Truthfully, there are higher choices, even you probably have a bad 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 Professionals and Cons) isn’t supplied by any bank card issuer. Any opinions, analyses, opinions, or suggestions expressed listed below 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 danger degree and isn’t utilized by all lenders, so don’t be stunned in case your lender makes use of a rating that’s completely different out of your VantageScore 3.0. 

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