All those who are struggling with bad credit might get a chance to improve their financial situation by applying for the First Access Visa Credit Card offer. This is an excellent way to not only improve and build your score but also to enjoy a wide range of additional benefits. This card, designed especially for people with bad credit, offers several different advantages, aside from high approval ratings and low application requirements. If you need a quick cash injection that will help you improve, rebuild, or build your credit, this card might be the best option.
Who Is the First Access Card For?
If your poor credit gives you trouble, First Access might have the best solution to your financial problem. Build or rebuild your credit while enjoying some additional benefits on the side. One of the best things about the First Access Visa card is that you can count on small cash advance and starter limits. It also offers additional financial stability that can help you stay on track with your obligations and payments. If you fall into the subprime user category, you can apply for this starter credit card and get pre-approved in no time. However, the charges and interest rates are high, so consider that before you decide to apply.
What are First Access Card Benefits?
- Credit reporting. This card reports to all three major credit bureaus, and making timely payments will show on your credit history. A history of timely payments is an excellent way to improve your score.
- Made to build credit. What we like about this Visa card is that you may get approved regardless of your credit score, and get an opportunity to rebuild bad credit or improve your bad credit history. Two great, friendly features that you can use to improve your credit score are cash advance limits and a low credit limit to get started. Demonstrate your financial responsibility by repaying your balances every month.
- Easy application, fast response. Since First Access Visa doesn’t require perfect credit for approval, the only thing you need to do is to follow the online application procedure to get preapproved. You can get an approval response in 60 seconds.
- 2 fees relinquished for 1st year. Perhaps the best thing about this First Access credit card offer is the fact that cash advance fees and monthly servicing charges are relinquished in the first year. This should allow you to recover financially and become stable enough to develop healthy financial habits.
- Unsecured card. Finally, this is an unsecured credit card, which is an additional benefit, since you won’t be required to make any security deposits. You’re only obliged to pay the program fee to open your account.
- Transparency. The fee transparency is also something that helps you understand the terms and conditions better.
Are there any disadvantages?
While this card is designed to help you regain your credit and get back on your feet, it isn’t without its disadvantages.
- High interest. The first thing to take into consideration is high APR. Then, there’s the fact that this card involves a lot of fees.
- Increased fees on 2nd year. The second year of using the card leaves you with monthly servicing fees and expensive maintenance. These are all things you need to take into consideration to avoid additional financial issues and increasing your debt.
- Credit increase after 12 months only. One of the key disadvantages is that you have to wait for a year before you can apply for a higher credit limit, while the sole approval for the credit increase also includes an additional fee.
- 3 months for cash out. There is a 90-day waiting requirement before you’re eligible for getting cash out with your new Visa card. You won’t be able to get cash out of your account until at least three billing cycles have passed.
- Many extra fees. And, speaking of fees, there are fees for the credit card limit increase, return and late payments, penalty APR, going over the limit, setup, and maintenance, as well as program fee, annual, and transaction fees.
Should You Use First Access Card?
If you don’t mind a high APR and plenty of additional fees, this card could be an excellent way to find your financial ground again. It gives you access to a small credit line, but its benefits do come at a price. Still, if you can’t get rid of that bad credit of yours, this might be a way out. Other options may include secured credit cards with higher spending limits, but it all depends on your credit report.
Frequently Asked Questions