First Entry Credit score Card Assessment 2023: Professionals & Cons

The First Entry bank card claims it can enable you to construct credit score. Do you have to go for it in case you 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 evaluation[1].

Table of Contents

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 improve for at the very least 12 months
  • Pays 1% money again rewards on funds solely, not purchases

Apply for the First Entry Card


First Entry Credit score Card Principal Advantages & Perks

If you wish to rebuild your credit score, you might come throughout the First Entry bank card. Whereas it doesn’t have essentially the most optimistic evaluations, there are some advantages to contemplate.

Straightforward Utility Course of

The First Entry bank card utility is on-line, and you may have a solution inside minutes. It takes just a few minutes to enter your data and decide in case you’re accredited.

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.

Accepted Wherever Visa® is Accepted

Although the First Entry bank card is for folks with spotty credit who must construct credit score, it’s a normal Visa® bank card. This implies you should use it on the 1000’s of shops that settle for Visa®.

Earn Rewards for Making Funds

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.

Reviews to All Three Credit score Bureaus

First Entry experiences your bank card exercise to all three credit score bureaus. For those who use your card correctly, pay your invoice on time, and don’t overextend your credit score line, you might improve 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 spanking new cardholders, you don’t should 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 Training

First Entry presents free entry to your VantageScore®[2] credit score rating and credit score schooling to proceed credit score constructing. With common monitoring and seeing your progress, you might proceed to make good credit score and spending habits to enhance your credit score rating.


First Entry Credit score Card Principal Drawbacks

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

Excessive Charges

The most important draw back we wish to point out within the First Entry bank card evaluation is the charges (see Rates & Fees). They’re extreme and never typical for many bank cards. They embrace:

  • $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 cost payment
  • Further card payment of $29 per licensed person
  • Premium card design payment of $10
  • Credit score restrict improve payment equal to 25% of the rise

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

You Should Wait Six Months to Redeem Rewards

For those who 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 possibly can redeem is $5.

Excessive-Curiosity Price

The First Entry bank card rate of interest is far increased than most bank cards. At 35.99%, your purchases will shortly add up, and staying on prime of your invoice could possibly be exhausting. The debt can accumulate shortly in case you cost greater than you possibly can afford to repay.

You Should Have a Checking Account

First Entry doesn’t require good credit score, however you should have an lively checking account to get accredited. You could have to look elsewhere in case you don’t have a checking account and try to construct credit score.


Who Is First Entry Credit score Card Greatest 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, in case you 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 can price 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 price it in case you use the cardboard accurately.


Greatest Alternate options to First Entry Credit score Card

There are a number of alternate options to the First Entry bank card to contemplate, 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}, you might solely want $49, $99, or $200 right down to get a $200 credit score line.

The safety deposit is refundable with correct use, and you might get the next credit score restrict or unsecured card mechanically in as little as six months.

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

The Credit One Bank® Platinum Visa® credit card is supposed for constructing credit score, nevertheless it pays cash-back rewards. You’ll be able to earn 1% again on purchases, plus further 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 credit card doesn’t require a minimal credit score rating, and its annual payment is barely $29; nonetheless, 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 evaluation your account historical past beginning at seven months. For those who use the cardboard responsibly, they are going to refund your safety deposit.

They’ll then improve you to an unsecured card with typical Uncover advantages, together with cash-back rewards. Within the meantime, you possibly can earn 2% again on gasoline and restaurant purchases as much as $1,000 per quarter and 1% again on all the pieces else with the secured card.


Regularly Requested Questions

Our First Entry bank card evaluation uncovered all the pieces to know in regards to the card that will help you decide if it’s an excellent 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 numerous different choices than the First Entry bank card for a primary bank card. Even in case 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.

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 in case you pay your invoice on time and don’t max out your card, you might improve 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 improve after 12 months, however they cost a payment equal to 25% of the rise, so think about 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 spotty credit.

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 accredited is you should have an lively 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 improve 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 improve, however that’s frequent for any bank card.

Is the First Entry Credit score Card Secured?

No, the First Entry bank card shouldn’t be 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 Charge 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. For those who cancel after the payment is assessed, you’ll not obtain a refund even in case you didn’t use the cardboard.

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

You may 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 higher of the 2.

How Do I Pay My First Entry Credit score Card?

The cellular app is the best option to pay to your First Entry card. You may also pay online.

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 appliance takes a couple of minutes, and it is best to have a solution immediately. You need to use the cardboard after you’ve paid your $95 program payment and obtain your card within the mail.


Is the First Entry Credit score Card Greatest for You?

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

Truthfully, there are higher choices, even if in case you have spotty credit 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) shouldn’t 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, accredited, 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 stage and isn’t utilized by all lenders, so don’t be stunned in case your lender makes use of a rating that’s totally different out of your VantageScore 3.0.