Writer: Toby Sembower
Editor: Lillian Guevara-Castro
Reviewer: Ashley Fricker
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If you have a poor credit history, you may have received an invitation in the mail to apply for the First Savings Credit Card by MasterCard®. Designed specifically for subprime applicants, this card has a fast-growing base of cardholders who lack the credit history to apply with prime issuers like Chase. Consumers who have made some credit mistakes in the past can use these types of cards as a component to help rebuild their credit and hopefully move from subprime to prime territory.
Below we will take you through the ins-and-outs of the First Savings Credit Card. We’ll also explore several other credit cards created with consumers in mind who have less-than-stellar credit. Some of these options may prove to be a better fit for you, depending on your unique financial situation.
Account Login | Terms & Application | 5 “Bad Credit” Alternatives
Account Login (FirstSavingsCC.com)
Existing cardholders can login easily to manage their First Savings account. Registering as a user enables cardholders to make payments online, schedule automatic payments, and view account summaries via the issuer’s Cardmember Services portal:
First Savings Terms & Application
The First Savings Credit Card offers the following terms, which are all subpar when compared to those of other cards for bad credit offered by more popular issuers:
- APR: 29.99%
- Credit Limit: $300.00
- Annual fee: $75.00 (billed immediately)
Oddly, there is nowhere on the site to apply for the card as a new applicant. Instead, the bank’s site accepts applications only from those who have received a “Reservation Number” and “Access Code” through the mail. If you are a recipient of a mail invitation and would like to apply, visit the following link to enter your Reservation Number and Access Code.
5 Similar Cards (Bad Credit OK)
As mentioned above, the terms currently being offered by the First Savings card appear to be unfavorable relative to other options on the market. Below is a list of five offers that beat the First Savings card on APR, credit limit, annual fee, and/or rewards programs. Simply click the “Apply Now” button to apply online for your offer of choice:
*See Program Terms for important information about the cash back rewards program.
** Prequalify means that you authorize us to make a soft inquiry into your credit history (that will not affect your credit) to create an offer. If you accept an offer a hard inquiry will be made. Final approval is not guaranteed if you do not meet all applicable criteria (including adequate proof of ability to repay). Income verification through access to your bank account information may be required.
† Your credit score will be available in your online account starting 60 days after your account is opened. (Registration required.) The free VantageScore 4.0 credit score provided by TransUnion® is for educational purposes only. This score may not be used by The Bank of Missouri (the issuer of this card) or other creditors to make credit decisions.
In Conclusion
First Savings Bank is making a valiant effort at providing the underserved subprime credit card market with an easy-to-obtain offer. But while its online interface is simple to use, its terms and application process, unfortunately, leave a lot to be desired.
We’d highly recommend reviewing other cards for poor credit and fair credit before proceeding with your First Savings application.
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