credit card advice
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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 and Discover. 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 card, including some credit card offers you may consider to be a much better deal than what the First Savings credit card is offering:
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:
- No annual fee, and all the credit building benefits with responsible card use
- Unlike a prepaid card, it builds credit when used responsibly, with regular reporting to the 3 major credit bureaus
- Access to an authorized bank account is required to make your $49, $99 or $200 refundable security deposit
- Make the minimum required security deposit and you'll get an initial credit line of $200. Plus, deposit more money before your account opens to get a higher credit line
- Get access to a higher credit line after making your first 5 monthly payments on time with no additional deposit needed
- Easily manage your account 24/7 with online access, by phone or using our mobile app
Intro (Purchases) | Intro (Transfers) | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|---|
N/A | N/A | 26.74% (Variable) | $0 | Limited, Bad |
- Easy application! Get a credit decision in seconds.
- Build your credit history – Fingerhut reports to all 3 major credit bureaus
- Use your line of credit to shop thousands of items from great brands like Samsung, KitchenAid, and DeWalt
- Not an access card
Intro (Purchases) | Intro (Transfers) | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|---|
N/A | N/A | See Issuers Website | $0 | Poor Credit |
- Prequalify for a card today and it will not impact your credit score
- Less than perfect credit is okay
- Mobile account access at any time
- Protection from fraud if your card is stolen
- Account history is reported to the three major credit bureaus in the U.S.
- *Dependent on credit worthiness
Intro (Purchases) | Intro (Transfers) | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|---|
N/A | N/A | 24.9% | $35 - $99 | Bad, Poor Credit |
- Checking Account Required
- Fast and easy application process; response provided in seconds
- A genuine Visa credit card accepted by merchants nationwide across the USA and online
- Manageable monthly payments
- If approved, simply pay a Program Fee to open your account and access your available credit
- Reports monthly to all three major credit bureaus
Intro (Purchases) | Intro (Transfers) | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|---|
N/A | N/A | See Terms | See Terms | Fair, Bad Credit |
- Pre-qualify for a card today and it will not impact your credit score
- Less than perfect credit is okay
- Mobile account access at any time
- Fraud protection for stolen or lost cards
- Account history is reported to the three major credit bureaus in the U.S.
Intro (Purchases) | Intro (Transfers) | Regular APR | Annual Fee | Credit Needed |
|---|---|---|---|---|
N/A | N/A | 24.9% | $0 - $99 | Bad, Poor Credit |
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.
Editorial Note: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
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