Yes, the First Digital Mastercard® is a credit card. The First Digital Card is issued by Synovus Bank, works wherever Mastercard is accepted, reports to the credit bureaus, and allows you to pay off purchases over time. There are quite a few important things to know about the card before you apply, though.
Key Facts About the First Digital Card
Issuer: Synovus Bank
Credit requirement: Bad
Annual fee: $75 1st yr, $48 after
Foreign transaction fee: Cannot be used outside the U.S.
To sum things up, First Digital Card is a credit card, but it may or may not be the best credit card for you depending on your needs, qualifications and spending habits.
Yes, applying for the First Digital Mastercard will do a hard pull on your credit report. It is an unsecured credit card designed for people with less than 3 years of credit history, meaning that credit is extended based on an initial credit inquiry.
There is no way to get pre-approved for the First Digital Mastercard. A hard pull usually causes an applicant's credit score to drop by 5-10 points. Most people’s scores bounce back within 3-6 months with responsible credit management, but it can take up to 12 months. You can learn more about how to minimize the credit score damage … read full answerhere.
Four major types of credit cards are Visa, Mastercard, American Express and Discover. These are the major credit card networks, which most credit cards belong to, and they dictate where cards can be used as well as what secondary benefits cards offer. Fundamentally, the credit cards on these networks work the same way, however.… read full answer
Overall, Visa and Mastercard credit cards have the greatest worldwide acceptance, but American Express and Discover cards still have very broad coverage. When it comes to benefits, different networks provide different perks like rental car insurance, travel insurance and purchase protection. But which network benefits a card has is often left up to the issuing bank or credit union.
There are other nuances to these four types of credit cards, too. For example, American Express and Discover are the only two networks that issue their own credit cards. All cards on the Visa and Mastercard networks are issued by separate banks and credit unions.
Other Types of Credit Cards
Aside from the four types of credit cards split up by network, there are a lot of other categories that could be considered “types” of credit cards. For example, there are secured cards that require a deposit and unsecured cards that don’t. Similarly, some cards offer rewards, some are partnered with specific merchants, some have special financing deals, and some are only available to students or businesses.
Yes, the First Digital Mastercard® card is legit. This card is issued by Synovus Bank, an FDIC member that is accredited by the Better Business Bureau and has an "A+" BBB rating. The First Digital Card also reports information to the major credit bureaus each month.
Here’s Why The First Digital Card is Legit
It is issued by Synovus Bank, an FDIC member that is accredited by the Better Business Bureau and has an "A+" BBB rating.… read full answer
Rated 1/5 stars by WalletHub editors.
3.2 / 5 average user rating on WalletHub.
Reports to all three of the major credit bureaus: Equifax, Experian, and TransUnion.
Ultimately, it is worth noting that the First Digital Card is on the Mastercard credit card network. So, it can be used virtually anywhere credit cards are accepted, as Mastercard benefits from extensive worldwide acceptance.
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