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  First Bank Secured Mastercard

First Bank Secured Mastercard

in Personal Credit Cards from First Bank

Unaffiliated

First Bank Secured Mastercard

Unaffiliated

in Personal Credit Cards from First Bank

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Highlights
Purchase APR  (Variable APR) 24.24%
Balance Transfer APR  (Variable APR) 24.24%
Credit Score Range 300 - 840
Annual Fee $35

First Bank Secured Mastercard Review

This is a credit card issued by First Bank. If you're wondering whether First Bank Secured Mastercard is the right card for you, read on. This review will provide you with with all the details you need to make a good choice.

Key Takeaways
  • High APRs. This is not a great card for people who carry a balance. It has a variable purchase APR of 24.24%
  • 5% Balance transfer fee. First Bank Secured Mastercard charges a fee of 5% on balance transfers. For example, a balance of $1,000 could cost $50 in transfer fees. The minimum fee is $10.
  • Charges foreign transaction fees. Avoid using this card when traveling abroad because it charges a commission of 3% every time you make a transaction outside the U.S.
  • Accepts cosigners. First Bank is one of the few credit card issuers that allows applicants to include a cosigner. Adding a cosigner can really improve your approval chances if your credit is not great.
  • Poor credit accepted. This card will consider people who have bad credit. Even if you have poor credit, you may still have good approval odds.
Pros & Cons of First Bank Secured Mastercard
The Good The Bad
  • Free access to your credit score.
  • Considers applicants with fair or poor credit.
  • First Bank Secured Mastercard reports to multiple credit bureaus.
  • Higher than average purchase APRs.
  • Charges an annual fee of $35
  • Does not offer a signup bonus.
  • Does not offer rewards or cash back.
  • Charges a foreign transaction fee of 3%.
  • You don't earn rewards on every purchase.
  • Charges a 5% balance transfer fee.
  • Does not include many credit card benefits.
First Bank Secured Mastercard FAQ

Does First Bank Secured Mastercard have a cash back or rewards program?

No, it does not offer a rewards program.

What are the First Bank Secured Mastercard benefits?

It provides the following benefits:

  • Free Credit Score
  • Zero fraud liability
  • Reports to major credit bureaus

What are the relevant APRs for First Bank Secured Mastercard?

According to the Federal Reserve Board, the average regular APR is 15% for all credit cards and 17% for accounts that carry a balance. It has higher than average regular APRs.

It has a variable purchase APR of 24.24%. The card has a variable balance transfer APR of 24.24% . It also has a variable cash advance APR of 25.24% .

The good news is this card does not charge a penalty APR if you are late on a payment.

Does First Bank Secured Mastercard have an intro APR offer on balance transfers?

No, it does not come with an intro APR offer for balance transfers.

Does First Bank Secured Mastercard have an intro APR offer on new purchases?

This card does not offer an intro APR rate on new purchases.

What are the fees for First Bank Secured Mastercard?

The following fees apply:

  • There is no overlimit fee
First Bank Secured Mastercard Fees
Fees Amount
Annual Fee $35
Overlimit Fee $0
Foreign Transaction Fee 3%
Returned Payment Fee $35
Late Payment Fee $40

Does First Bank Secured Mastercard have a foreign transaction fee?

First Bank Secured Mastercard charges a foreign transaction fee of 3%. For example, if you spend $2,000 on a week vacation abroad you would pay a foreign transaction fee of $60. If you travel abroad you may want to leave this card at home and apply for one that doesn't charge foreign transaction fees.

Does First Bank Secured Mastercard report your account activity to credit bureaus?

Yes, First Bank Secured Mastercard reports your account activity to the following credit reporting agencies:

  • Equifax
  • Experian
  • Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.

How to apply for First Bank Secured Mastercard

  • Visit the First Bank Secured Mastercard website.
  • Fill in the application form. You will typically need to provide general financial information, such as your Social Security Number, address, and annual income.
  • Check the information is accurate and submit your application.

If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Availability

  Available in 3 states
  • California
  • Illinois
  • Missouri

Feature Breakdown

Over-Limit Fee $0
No Interest Grace Period for Late Payment 21 days
Cash Advance Fee Minimum $15
Cash Advance Fee (%) 15%
Minimum Cash Advance Fee ($) $10
Foreign Currency Transaction Fee 3%
Annual Fee $35
Minimum Interest Charge $1.75
Returned Payment Fee $35
Late Fee Amount $40
Customer Type Personal
Minimum Age 18
Co-signing Allowed
Military Status
  • Active Duty Military
  • Non-Military
  • Veterans
  • Military Dependent
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
  • Unemployed
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Credit Score Range 300 - 840
Credit Bureau Reporting
  • Experian
  • Equifax
  • TransUnion
Credit Card Benefits
  • Fraud Liability
  • Free Credit Score
Rewards Type No Rewards
Security Deposit $300 - $5,000
Cash Advance APR (Variable APR) 25.24%
Balance Computation average daily balance
Credit Limit $300 - $5,000
Penalty APR (Variable APR) 0%
Purchase APR (Variable APR) 24.24%
Balance Transfer APR (Variable APR) 24.24%
Balance Transfer Fee Minimum $10
Balance Transfer Fee % 5%
Card Type
  • Balance Transfer
  • Bad Credit
Card Network Mastercard

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