The First Access VISA® Credit Card

When rebuilding your credit, it can be difficult to know where to start. You’ll need a credit card to begin the slow and steady process, but qualifying is often an obstacle. The First Access Visa credit card requires no cash collateral, and a reasonable credit limit lets you get used to the payments while the credit bureaus get to know all the good you’re up to. Though an attractive companion on the journey to good credit, if you’re not careful, the fine print could leave you reeling.

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The First Access VISA® Credit Card List

First Access VISA® Credit Card

When rebuilding your credit, it can be difficult to know where to start. You’ll need a credit card to begin the slow and steady process, but qualifying is often an obstacle. The First Access Visa credit card requires no cash collateral, and a reasonable credit limit lets you get used to the payments while the credit bureaus get to know all the good you’re up to. Though an attractive companion on the journey to good credit, if you’re not careful, the fine print could leave you reeling.

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What Credit Cards Are Available? (1)

First Access VISA® Credit Card First Access VISA® Credit Card
Sing-Up Bonus Yes
Annual fee $75 1st yr, $48 after
Benefits

The First Access VISA® Credit Card Basics

The First Access Card is a true VISA® credit card that hat’s accepted nationally and does not require perfect credit for approval. You can use it online and in stores.

The First Access VISA® Credit Card is an unsecured credit card consumers need to rebuild their credit. Note that the card has a lot of fees and there's no way to get around them, including setup fees, annual fees, and even monthly service fees from the second year. However, if you are denied a credit card you are applying for, you may have a better chance to get approval first ® visit visa credit card. If you use your credit card wisely, with a lower balance, and always pay your bills in full and on time, you should see your credit score improve in about six months, and you can use a bigger and better unsecured credit card.

Who is the First Access VISA® Credit Card Good For?

The card is aimed at consumers with bad credit and low credit scores — consumers who are notoriously high risk and more likely to default on their debts.

The high rates and fees charged by the First Access Visa Card are intended to balance out the high risk of its applicant demographic. In other words, they’re the cost of having bad credit.

Why to Apply for the First Access VISA® Credit Card?

1. The other benefit of this card is that there is a short online application and you can get a quick response.

2. This card is a Visa® card, which means it can be used online and offline at ATM and many merchants.

3. If you meet certain conditions, you can increase the credit limit of $300. Once you open your card for at least six billing cycles, you can request an increase in your credit limit. If your account has not expired or exceeded the limit in the past six months, you may be eligible for an increase in credit limit.

Drawbacks of the First Access VISA® Credit Card

For most consumers, the First Access Visa card is a bad choice because it has big drawbacks.

1. You have your own account and you will be charged a one-time fee of $89. You can also deduct an annual fee of $75 from your credit line. This means you only need to pay $164 to get the card. Once you have a year card, the annual fee drops to $48, but you will start the $6.25 monthly fee. This makes the effective annual fee for Onward for the second year at $123. If you keep the card for two years, you will be charged $287. This is as much as paying for a premium travel card - and you are not rewarded.

2. You will spend the balance. You will receive 29.99% variable APR on all balances. This is almost twice the annual interest rate of a regular credit card, about 16%. Cnsider pays off your balance in full every month to avoid accumulating debt during quick editing. If you accumulate a balance of $200 and pay only a minimum of $38 a month, you will need to spend six months to pay off the debt and eventually pay an additional $20 in interest. This is because you may have to pay before considering the monthly fee.

3. You won't get a reward. Many credit cards offer up to 5% cash back in certain categories of shopping. Even some security cards can offer up to 2% of purchase rebates. The First Access Visa card has no reward at all, but the compound has won the pain of paying high fees. You will not receive any rewards that can be used to pay for the fee.

Should You Get the First Access VISA® Credit Card?

If your credit is bad or fair and you are not eligible for a non-guaranteed card, you can consider using it.

Although certainly not cheap, First Access Visa cards are no more expensive than most other unsecured sub-cards, most of which charge similar rates and fees.

If you want to avoid paying high interest rates and fees on your Visa card for the first time, your best bet may be to contact your local credit union or community bank, or you can save and open a secure credit card.

No matter which path you take, the key to successfully rebuilding bad credit is to repay debt on time every month, keep the debt balance low, and keep new credit. By paying this card on time, you can accumulate enough credit to apply for a more affordable credit card and reward you with money.

About icomparecards

About three-quarters of Americans have at least one credit card,In fact, the average person has 3.4 cards. But whether you have a wallet full of plastic or have never charged a purchase in your life, you should know how to apply for a credit card the right way when the time comes. getting approved for a credit card requires proactive planning that should start long before you apply. That's why icomparecards born, we aim to help you to find the right credit card, and then successfully apply a credit card.

How To Apply For A Credit Card

Credit card applications are straightforward, but you'll need to meet some minimum financial requirements to get approved for the best credit card offers. Learn how to apply for a credit online and what to expect after you click submit.

  • Knowing your credit score and what's on your credit report can help you determine what products to apply for. If you have fair credit, for example, you may not want to apply for a card that clearly states that only applicants with excellent credit will be approved.
  • If you don't have good credit, you may find it difficult to get approved for a card with a large sign-up bonus and a lucrative reward structure. Each credit card application ends up on your credit report, so the Nerds recommend using our credit cards comparison tool to find a card that fits your credit profile before applying.
  • If the card allows balance transfers, you may request to have balances transferred from other credit card accounts to the new card.
  • To apply for a credit card in the US, you’ll need a valid Social Security number and a positive credit history. The best rewards credit cards may require at least three to five years of good credit history, and some more than seven.
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