The First Digital MasterCard® credit card is worth considering if you want a credit card that helps you repair, rebuild, or build your credit history. Synovus Bank issues the First Digital MasterCard® and is an FDIC member.
Who Should Get the First Digital MasterCard®?
The First Digital MasterCard is ideal for people who had credit problems in the past. It can help you overcome bad credit, need to repair your credit, or create a new credit history. The First Digital MasterCard® has lenient credit history requirements. Even if you don't have stellar credit, this card can help you improve your credit score.
Rebuild Your Credit
If you have ever been denied credit, it can be challenging to recover and build up your credit score.
First Digital MasterCard® can help you build your credit history since it has low approval requirements. Your score might be low from a mistake from your past. Now, you have the opportunity to turn things around one month at a time.
Even if you're leery of using credit, put a recurring monthly subscription on the card and pay it on time each month. Be aware of the credit limit, so you do not overcharge the card. Charges over the limit can give your credit report a black eye.
As you make on-time payments, the First Digital MasterCard® reports your history to all three major credit bureaus. That report increases your credit score and will spruce up your creditworthiness with positive payment history.
How to Get Approved
It's easy and fast to get approved. Fill out the First Digital MasterCard® online application form.
If you are a US resident the age of 18 or older, they ask for your:
- First and last name
- Date of birth
- Social Security number
- Resident status
- Residential address
- Phone number
- Email address
- Income details
- Employment info
If you are approved, just pay the Program Fee to open your account.
Details and Fees
- Annual Fee: $75.00 for the first year; $48.00 subsequent years
- Activation Fee: $95.00 (one-time fee)
- Monthly Servicing Fee: waived the first year, then $6.25/mo.
- Regular APR: 35.99%
- Allows Cash Advance: Yes; Fees: Either $10 or 3% of the amount of the Cash Advance, whichever is greater
- Allows balance transfer: No
- More information about terms and fees
Credit Rating Needed
Although the First Digital MasterCard® checks your credit, their credit score requirements are much more forgiving than other banks. If your credit history isn't perfect, this card might provide you with the initial tools to rebuild your score.
How to Get This Card
The First Digital MasterCard® only requires that you fill out an online application form. It's quick and easy, and you receive a result in 60 seconds or less.
However, it might take up to 3 weeks for the First Digital MasterCard to process your application and send the card. If you need the card faster, you can spring for Express Delivery for an extra fee.
- Easy and fast application - results in 60 seconds or less
- Security and convenience of MasterCard® - accepted by millions of merchants online and in-store
- Accepts people with lower credit scores
- Low credit limit means you can't get yourself in too much financial trouble if you pay your bill on time each month
- Unsecured - you do not need to pay a deposit before they issue the card
- Request credit limit increase after 6 months of good standing
- Fraud protection
- Account alerts
- Annual fee decreases after the first year
- 24/7 online customer service
- Numerous fees can add up. Even when your bills are paid on time each month, you will pay fees monthly and annually.
- APR is one of the highest - Variable 35.99%. Cards available to people with mediocre to good credit charge 13% to 25% APR.
- Only usable in the US - higher transaction fees may apply if used outside the US
- Cannot use for online gaming or at automated fuel pumps
- No rewards or perks for spending
- No cardholder benefits other than fraud protection
- Requires a checking account
- Initial credit limit amount is minus the program and annual fees
The First Digital MasterCard® is useful if you have poor credit and need help repairing it. Whether from medical bills, bankruptcy, or just mismanagement, this card can be a valuable tool to turn things around.
It is crucial to be aware of the high rates and fees that come with this card.
After you've had the card for 6-12 months, recheck your FICO score to determine if you can qualify for a card with lower rates. However, if you apply for cards too often, creditors see it as a red flag for financial troubles.