The First Access Visa is an unsecured credit card for people with bad credit. This card is legit in the sense that it’s a real credit card that gives you a $200+ credit line and reports account information to the major credit bureaus each month. But unless you really need to borrow money for an emergency expense, you’re better off building your credit with a low-cost
secured credit card.
The First Access Credit Card is quite expensive, charging a one-time fee of
$95 before account opening, followed by an annual fee the first year and a combination of annual and monthly fees after that. In contrast, you can get a secured credit card with $0 fees and better rewards than the
1% back the First Access Visa Card doles out.
First Access Credit Card Review Highlights
Fees galore
If you get approved for the First Access Visa Credit Card, you will have to pay a
$95 program fee before your account is even open. And that’s just the beginning. You’ll also pay a high first-year annual fee. And while that falls in the second year, it’s joined by a $6.25 - $10.25 monthly service fee that actually increases your overall costs.
Little spending power, lots of interest
The First Access Credit Card has a
$200 starting credit limit, which is reduced to $150 by the first-year annual fee. That’s not much of an emergency loan, if that’s what you’re after, especially considering the rate at which you’ll pay interest on balances carried from month to month. The First Access Card’s APR dwarfs the
27.01% charged by the average credit card for people with fair credit, according to WalletHub’s latest
Credit Card Landscape Report.
Average rewards
You will earn
1% cash back with this card. However, you have to pay your bill to get the rewards, rather than having them disbursed after you make a purchase, as is the case with most cards. That might present a bit of an inconvenience if you’re carrying a balance from month to month. Plus, even if you do pay your bill in full every month, the rate at which you’ll be earning rewards won’t be anything special. In fact, it’s slightly below the market average,
according to our research.
Cheaper options are available
The First Access Visa Card was obviously designed for people with “bad” credit. And while there aren’t a ton of other offers available to the bad-credit crowd, there are still quite a few that are better, whether you’re in the market for an
emergency loan or an
inexpensive credit-improvement tool. For example, there are a handful of secured credit cards with no annual fee.
Bottom Line: Is the First Access Visa a Good Credit Card?
The First Access Visa Card is not a very good credit card, all things considered. It’s simply too expensive, given its high fees and interest rate, and provides too little in return to warrant a score above 1.5/5.
If you would like us to recommend a credit card for you, just
sign up for a free WalletHub account.We’ll help you find the best offer based on your latest credit score and financial priorities. You’ll also get free daily credit score updates and 24/7 credit monitoring.
Note: This review is not provided, commissioned or endorsed by any issuer. Opinions and ratings are our own.
