First Savings Credit Card Review 2022: Build Your Credit

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Quick Take: The First Savings credit card is a great way to repair or build your credit score since it reports to all three major credit bureaus and does not require a security deposit. But applying for this card is slightly tricky since you need an invitation to do so. Additionally, the higher fees may put you off this credit card.
  • Fees
  • Ease of Application
  • Account Management
  • Interest Rate
How did we calculate this?


  • Fraud coverage for lost card
  • Does not require a security deposit
  • Online bill payment and account management
  • Credit limit can be increased in six months


  • High APR
  • Invitation-only application
  • High annual fee

About First Savings Credit Card

Whether you need to repair your credit or build it, the First Savings credit card is an excellent way to get started. Here are some things you need to know about this card:


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

The annual fee for the contracts ranges from $0 to $75, while the APR ranges from 15.65% to 29.99%, depending on how creditworthy you are.

Although First Savings does not explain the selection criteria on its website, people with lower credit scores will likely get the contract 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 application online.

First Savings does not specify what the minimum credit score for qualification is. But, if you get an email invite, it probably means your credit score was high enough for eligibility.

Account Management

The First Savings app makes it easy for you to manage your account online. You also can use the app to view statements, see your account balance, make payments, edit your account information or enroll in autopay.

Interest Rate

As discussed previously, First Savings charges an APR based on the offer you qualify for. The APR differs according to your creditworthiness. As a rule of thumb, you will have to pay a higher APR and annual fee if you have a low or poor credit score.

Bill Payment

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

First Savings Credit CardP.O. Box 2509Omaha, NE 68103-2509

First Savings also accepts phone payments, Western Union and MoneyGram. A charge of $3.95 per debit card payment completed with a customer service representative via phone will apply.

How Does First Savings Credit Card Compare to Competition?

Since it has a high APR and no rewards, the First Savings credit card is likely best suited for people who have credit challenges and are looking to build credit.

Discover it Secured Card

One ideal alternative is the Discover it Secured Card.

Because it is a secured card, you will have to put down a security deposit of at least $200 and up to $2,500. The security deposit will equal your credit limit.

Monthly reviews begin your seventh month as a customer. If you’ve made all of your Discover payments on time and are also current on all of your other credit card accounts, you might qualify for a refund of your security deposit and also a standard, unsecured Discover card.

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

Discover it does not charge an annual fee, and the APR is 24.49%, which is much lower than the APR that you might have to pay for First Savings.

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

However, if you want to earn cash back rewards, you are better off with the Discover it secured card.

Good to Know

Although the First Savings credit card might be helpful if you’re having a hard time getting approved for other credit cards and you’re wanting to build your credit, you have to 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 cashback rewards. Most secured credit cards provide upgrades to unsecured credit cards after making consistent payments for a few months.

How To Apply

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

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

After you enter 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 could take longer.

Who Is It Best For?

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

Secondly, it is an ideal option for people who do not want to opt for a secured credit card. To get a secured credit card, it is essential to put a security deposit in case you default on payments.

Final Take

Although the First Savings credit card is an option for credit building and credit repair, it would be more attractive if the annual fees and maximum APR were lower. Additionally, an invitation email is required for application, which may be a limitation for some people.

But if you get the invitation, are offered a lower APR and do not mind the annual fees, responsible use of the First Savings credit card could help you get back on track with your credit. But with all of the other credit cards available to apply for — even for those who have lower credit scores — it’s probably easier and more beneficial to opt for another offer.

Cynthia Measom contributed to the reporting for this article.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of July 12, 2022.

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


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