First Digital Mastercard®
Credit score
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TIME’s Take
If you have a bad credit score and are looking for a credit card, the rewards from the card_name may be enough to offset the high fees. It’s better than some alternatives, but it’s not the best card for borrowers looking to repair or build their credit.
First Digital Mastercard: Pros and cons
Pros:
- All standard purchases earn 1% cash back.
- Applicants without good credit are accepted.
- It offers features to build and track your credit score.
Cons:
- New accounts have a $95 program fee.
- An annual fee applies.
- It has a very high interest rate.
Who is the card for?
The card_name could be a suitable option for individuals with poor credit histories who find it challenging to get approved for most credit cards. As a card for applicants without good credit, it’s accessible for those rebuilding their credit score.
Additionally, the card’s 1% cash back feature on standard purchases offers a modest reward that might appeal to users who plan to use the card regularly for everyday expenses. For someone unable to qualify for cards with better terms and rewards, the First Digital Mastercard provides an opportunity to have a credit card and improve their credit score and history.
Features
The First Digital Mastercard offers several valuable and helpful features. These include:
Cash back rewards
Because you get 1% cash back on every purchase, using the card for everyday purchases could earn you enough cash back to offset part or all of the annual fee. For every $10,000 in spending, you’ll receive $100 in cash rewards.
Reports to credit bureaus
Card balance and payment details are reported to the three main credit bureaus, Experian, TransUnion, and Equifax, every month, helping you build a positive credit report and score if you use the card responsibly. Keeping your balance low and always paying at least the minimum by the due date puts you on track for a good credit score in the future.
Free credit score access
Cardholders get free access to their VantageScore credit score and credit-education resources designed to help them track and understand what goes into their score. If you can create good credit habits, you’ll be destined for improved credit.
The fine print
The card_name has a high annual percentage rate (APR) and charges steep fees to open and maintain an account.
- High APR. As of Dec. 12, 2023 the interest rate for this card is reg_apr,reg_apr_type APR, one of the highest we’ve come across. Remember that paying off your card in full by the due date every month means you don’t have to pay any interest.
- New account fee. New accounts incur a $95 one-time program fee.
- Annual fee. The card requires a annual_fees
- Monthly servicing fee. There’s no monthly fee for the first year, then an $8.25 monthly servicing fee applies. This adds up to $99 per year.
- Additional card fee. While many cards allow you to add an authorized user for no extra cost, this one charges $29 per year for additional cards.
You’re also subject to fees for less common activities, including cash advances, late payments, and returned payments.
Additional hidden perks
The card doesn’t include extra bells and whistles, such as purchase protection and travel insurance. Like most major credit cards, it comes with protection from fraudulent purchases. Otherwise, you won’t find any hidden perks.
What could be improved
The biggest downside of the card is its fee structure. With a high interest rate and steep account fees, you could pay a lot more than you get back in rewards. And if you carry a balance from month to month, you could quickly end up paying for each purchase multiple times over.
Card alternatives
Bottom line
The card_name could be a good choice for a limited number of people with a patchy credit history. Unlike some competing cards for applicants with poor credit histories, it offers rewards that can help offset the cost. However, with a high interest rate and expensive charges to open and maintain an account, you may want to skip the card_name if you qualify for a lower-cost card elsewhere.
First Digital Mastercard®
Credit score
credit_score_needed
Frequently asked questions (FAQs)
Is card_name a real credit card?
Yes. It’s issued by Synovus Bank in Georgia.
What is the card_name credit limit?
Credit limits vary based on the applicant’s credit history.
How long does it take to get your card_name in the mail?
The time to receive your card may vary depending on your location and other factors. Cards are typically mailed three to seven days after approval, and most people get theirs around seven to 10 business days after approval. However, a new card can take up to 14 days to arrive.
Does Mastercard offer digital cards?
The First Digital Mastercard is called “digital” but it’s a traditional plastic credit card. Some Mastercard credit cards (but not this one) also work with digital wallets or one-time credit card numbers for added security.
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