First Access Visa® Card Review and Details

In this First Access Visa^® Card review, we’ll look at who the card is for, its credit score requirements, benefits, key characteristics, and more.

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Who is the First Access Visa Card for?
First Access Visa Card Credit Score Requirements
First Access Visa Card Fees
First Access Visa Card APR
First Access Visa Card Benefits
Key Characteristics of the First Access Visa Card
Alternatives to the First Access Visa Card

Let’s begin with this First Access Visa Card review.

Who is the First Access Visa Card for?

The First Access Visa^® Card is a great credit card for people with a less than perfect credit score and for those who want to build credit.

Unlike most options for bad credit consumers, this First Access credit card is an unsecured card. This means that, unlike a secured card, people can apply without paying a refundable security deposit.

While people with damaged credit can use this credit card to build credit, cardholders must consider the APR and the available credit limit that the First Access credit card offers before applying.

Note: This card is also suitable for students as it has a low credit limit that restricts the types of purchases a cardholder can engage in.

First Access Visa Card Credit Score Requirements

Issued by The Bank of Missouri, the First Access Visa Card caters to individuals with Poor or Fair credit scores.

A FICO^® score between 300 - 669 at the minimum you'll need if you want to have a shot at qualifying for this offer.

Whether you’ve had a poor spending history or a complete lack of credit history, your less-than-perfect credit score won't hurt your chance of approval with this credit card issuer.

The bank doesn’t list the exact credit requirements to qualify for this credit card, but it does say that “perfect credit isn’t required for approval.”

While this doesn’t mean that everyone will qualify, it also suggests that your chances of approval might be better than with many other cards.

First Access Visa Card Fees

If your First Access Visa Card application is approved, you’ll have to pay a $95

one-time program fee to open a checking account for your new credit card.

The annual fee for the first year is $75. Afterward, cardholders are required to pay $48 annually.

From the second onwards, First Access Visa cardholders are also charged a monthly servicing fee of $8.25 (that's $95 annually). There are no monthly servicing fees for the first year.

Users have the option to get a credit limit increase but they're only able to apply for one after the card account has been open for at least one year. Getting a bump in your credit limit may also levy a charge worth 20% of the increase. Meaning a $100 increase in your credit limit may cost you $20 in charges - this would bring the additional credit available down to $80 for that billing cycle.

There’s no cash advance fee during your first year as a cardholder. After that, you’ll pay either $10 or 3% of the cash amount of each cash advance, whichever is greater.

First Access Visa Card APR

The First Access Visa Card has a fixed purchase APR of 35.99% which may seem seem like a lot but it isn't unusual in this price segment. If anything, the high-interest rate serves as a deterrent to keep cardholders focused on the goal - maintaining a modest credit card bill to improve their credit score over time.

Cash advances come with a fixed APR of 35.99% as well. As such, this Visa credit card is best suited for boosting your credit score and helping you upgrade to a card with a lower purchase APR.

Note that the credit card issuer gives you a due date of at least 21 days after the close of billing cycles. If you pay your entire balance by the due date each month, you won’t have to worry about those pesky interest charges.

First Access Visa Card Benefits

Here are some benefits you can enjoy with this card:

Credible Card Issuer - The First Access Visa Card is issued by The Bank of Missouri and is authorized with a license from Visa U.S.A. Inc. The Bank of Missouri is a reputed financial institution and has been in business for over 125 years.

Unsecured Credit Card - Unlike other credit cards targeted towards people with a poor or limited credit history, the First Access Visa is not a secured credit card, meaning you won't have to pay a security deposit. Instead, this unsecured card gives a revolving credit line, from which the annual fee is deducted.

Zero Liability Protection - The First Access Visa Card has a $0 liability policy if your card is lost or stolen. This gives cardholders peace of mind that they won’t be held accountable for any fraudulent charges or transactions made on their credit card account.

Access to Visa Security - Since the First Access Card is a full-featured, unsecured Visa^® credit card, cardholders can access Visa’s advanced security and anti-fraud detection system.

Visa’s anti-fraud detection system uses Artificial Intelligence for credit monitoring. It monitors your card number and accounts for suspicious activity in real-time. Visa’s advanced security for online purchases makes online shopping using your credit or debit card fast and secure.
Online Customer Center - First Access Visa cardholders have access to an online customer center that’s available 24/7. This is helpful to get card balance updates, information on any outstanding payments, payment history, and more.
Unique Card Design - For a one-time fee of $10 you can pick from a large selection of designs to add a little flair to your credit card.

Key Characteristics of the First Access Visa Card

Here are some main features of this card:

Reports to Every Major Credit Bureau - The First Access credit card helps you improve your credit score by reporting to each of the three major credit bureaus - TransUnion, Experian, and Equifax.

Reporting your credit card account payment information to the major credit bureaus ensures that, with consistent on-time payments, you’ll gradually build a good credit score.
High Upkeep - Cardholders may find this unsecured card expensive because of the ongoing annual, monthly. Though this is to be expected from credit building cards in general.
Easy and Secure Online Application - You can apply for this Visa credit card simply by filling in an online application form. You’ll need to provide your personal information as well as information about your income and employment.

Note: To apply for this First Access credit card, you must be a U.S. citizen, be over the age of 18, and have a checking account.
Optional Expedited Processing - You can get your First Access Visa Card quickly through expedited processing for $35.
Low Credit Limit - The initial credit limit for the First Access Visa Card is $300 which is reasonable considering this is an unsecured credit card offer targeted towards people wanting to build their credit score.

Alternatives to the First Access Visa Card

Conclusion

While there are various credit card fees associated with this Visa card, it’s still a great choice for those wanting to work towards building a good credit score.

Since the credit card company shares your credit report with every major credit bureau, it’s an effective means of improving your credit score. In due time, you can apply for another card with cash back rewards and welcome bonuses.

You can apply for this card here.