Savings Credit Card First Review: Can It Help You Boost Your Credit?


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Quick take: The First Savings credit card is a great way to repair or boost your credit score because it’s covered by the three major credit bureaus and doesn’t require a security deposit. But requesting this card is a bit tricky because you need an invitation to do so. Also, the higher fees may deter you from this credit card.

  • Costs
  • Ease of application
  • Account management
  • Interest rate

How did we calculate this?


  • Coverage against fraud in the event of loss of card
  • Does not require a security deposit
  • Online bill payment and account management
  • Credit limit can be increased in six months

The inconvenients

  • High APR
  • Application by invitation only
  • High annual fees

About the First Savings Credit Card

Whether you need to repair your credit or build it up, the First Savings Credit Card is a great way to get started. Here are some things you should know about this card:


One important thing that differentiates the First Savings card from other credit cards is that you get different offers with varying annual fees.

The annual fees for the contracts range from $0 to $75, while the APR ranges from 15.65% to 29.99%, depending on your creditworthiness.

Although First Savings does not explain the selection criteria on its website, people with lower credit scores will likely get the deal with a higher APR and annual fee.

Ease of application

To apply for the First Savings Credit Card, you must be invited by mail and complete the online application.

First Savings does not specify what the minimum credit score for qualification is. But if you receive an email invite, it likely means your credit score was high enough to qualify.

Account management

The First Savings app allows you to easily manage your account online. You can also use the app to view statements, view your account balance, make payments, edit your account information, or sign up for autopay.

Interest rate

As stated earlier, First Savings charges an APR based on the offer you qualify for. The APR differs depending on your creditworthiness. Generally, you will have to pay a higher APR and annual fee if you have a low or poor credit score.

Payment of bills

First Savings allows you to pay your credit card bill by different methods. You can use your online account to pay your bill through the service portal. Alternatively, you can send your payments to the following address:

First savings credit card
Box 2509
Omaha, NE 68103-2509

First Savings also accepts payments by telephone, Western Union and MoneyGram. A $3.95 fee per debit card payment made with a customer service representative over the phone will apply.

How does the First Savings Credit Card compare to the competition?

Because it has a high APR and no rewards, the First Savings credit card is probably best suited for people with credit issues who are looking to build credit.

Discover it Secure card

An ideal alternative is the Discover it Secured Card.

Because this is a secured card, you will need to post a security deposit of at least $200 and up to $2,500. The security deposit will be equal to your credit limit.

Monthly reviews begin your seventh month as a customer. If you have made all of your Discover payments on time and are also up to date on all of your other credit card accounts, you may be eligible for a refund of your security deposit and also for an unsecured standard Discover card.

The Discover it credit card also has a rewards program that lets you earn 2% cash back on meals and fuel and 1% cash back on all your other purchases. Plus, at the end of your first year of card ownership, Discover will automatically match any cash back rewards you’ve earned, dollar for dollar.

Find out that it doesn’t charge an annual fee and the APR is 24.49%, which is way lower than the APR you might have to pay for First Savings.

Citi Secure Mastercard

Another alternative is the Citi® Secured Mastercard, which requires a security deposit of at least $200. Like the Discover it card, there is no annual fee on this credit card and the maximum credit limit is $2,500. Compared to many other secured credit cards, this is relatively high.

The Citi Secured Mastercard has an APR of 23.99%, which is also lower than the First Savings credit card. You can avail this card even with a low credit score. Plus, Citi gives you free access to your credit score so you can track your creditworthiness.

However, if you want to earn cashback, it is better to use the Discover it secure card.

Good to know

Although the First Savings credit card can be useful if you are having trouble getting other credit cards approved and want to boost your credit, you must receive the application offer in the mail to apply. If that doesn’t happen, consider getting a secured credit card that offers lower interest rates and cash back. Most secured credit cards offer upgrades to unsecured credit cards after making regular payments for a few months.

How to register

To apply for the First Savings credit card, you must have received an offer by email. Once you have this email, you can go to the First Savings website and click on the green button that says “Accept Online” on the homepage.

You will be asked to enter your access code and reservation number. These two numbers will be present in your invitation offer. The website also has a chart to help you locate these numbers on the invitation mail.

After entering these numbers, the website will take you to the credit card application page. Enter your personal information, monthly income, and employment status as required on the screen. First Savings does not specify how long it will take for your application to be approved. Typically, credit card providers process approvals instantly. Sometimes, however, the process can take longer.

Who is it best for?

The First Savings Credit Card is suitable for people who want to start their financial journey or who intend to improve their credit scores. First Savings reports to major credit bureaus, helping you improve your credit score with every payment.

Second, it’s an ideal option for people who don’t want to opt for a secured credit card. To obtain a secured credit card, it is essential to pay a security deposit in case of default.

Final take

Although the First Savings credit card is an option for building and repairing credit, it would be more attractive if the annual fee and maximum APR were lower. Also, an invitation email is required to apply, which may be a limitation for some people.

But if you get the invite, are offered a lower APR, and don’t mind the annual fee, responsible use of the First Savings credit card could help get you back on track with your credit. . But with all the other credit cards out there to apply for — even for those with lower credit scores — it’s probably easier and better to go with another offer.

Cynthia Measom contributed reporting for this article.

Rates are subject to change; unless otherwise specified, prices are updated periodically. All other account information is accurate as of July 12, 2022.

Editorial Note: This content is not provided by First Savings, Citi or Discover. Any opinions, analyses, criticisms or recommendations expressed in this article are those of the author alone and have not been reviewed, endorsed or otherwise endorsed by First Savings, Citi or Discover.

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About the Author

Scott Jeffries is a seasoned technology professional based in Florida. He writes on the topics of business, technology, digital marketing, and personal finance.

After earning his bachelor’s degree in management information systems with a minor in business, Scott spent 15 years working in technology. He has helped startups to Fortune 100 companies bring software products to life. When he’s not writing or building software, Scott can be found reading or spending time outdoors with his children.


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