Advertisements
The First Access Visa Credit Card, issued by The Bank of Missouri, is primarily aimed at individuals looking to build or rebuild their credit. It’s an unsecured credit card, meaning it does not require a security deposit, which is often a requirement for other cards targeted at consumers with less-than-perfect credit. This feature makes the card accessible for those who might not have the funds for a deposit. The card is widely accepted at various retailers across the U.S., providing convenience and flexibility in usage.
The card offers several benefits that cater to the needs of its target users. Notably, it provides the opportunity to build or improve credit scores through regular reporting to the three major credit bureaus: Experian, Equifax, and TransUnion. This is an essential feature for anyone looking to enhance their credit history. Additionally, the card comes with a user-friendly mobile app, making management of finances and monitoring of credit scores more convenient. Cardholders can expect most credit decisions within 60 seconds, simplifying the application process.
Below are some of the key benefits of the First Access Visa Credit Card, each explained in detail.
Advertisements
Benefits of the First Access Visa Credit Card
The First Access Visa Credit Card provides a full set of features that make it a considerable option for those navigating their credit-building journey. Below are some of the top key benefits of the First Access Visa Credit Card, each explained in detail.
Unsecured Credit Line
Unlike many credit-building credit cards, the First Access Visa Credit Card is unsecured, which means it does not require a security deposit. This is particularly beneficial for individuals who may not have the cash available for a deposit, a common requirement for secured credit cards. An unsecured credit line allows users to access credit without tying up their funds, making it a more accessible option for many, especially those just beginning their credit journey or working to rebuild their credit.
Credit Bureau Reporting
One of the most significant benefits of the First Access Visa Credit Card is its feature of regular reporting to the three major credit bureaus: Experian, Equifax, and TransUnion. This reporting is crucial for building a credit history. Consistent, on-time payments and responsible use of the card can positively impact a user’s credit score over time, which is a key aspect of financial health and is essential for future financial activities like loan applications or renting property.
Acceptance at Millions of Locations
The card is widely accepted at numerous retailers across the United States, both in physical stores and online. This wide acceptance is due to its affiliation with Visa, one of the largest payment networks globally. This feature provides users with the flexibility to use their card for various purchases, from everyday shopping to online transactions, making it a convenient tool for daily use.
User-Friendly Mobile App
To aid in managing finances, the First Access Visa Credit Card comes with a user-friendly mobile app. This app allows cardholders to easily monitor their account, view transaction history, and make payments. The convenience of having account information readily accessible on a mobile device is a significant benefit for users who prefer digital banking solutions and like to keep a close eye on their financial activities.
Rapid Credit Decision
The application process for the First Access Visa Credit Card is designed to be quick and efficient, with most credit decisions being made in 60 seconds or less. This rapid decision-making process is beneficial for individuals who need access to credit promptly and prefer not to wait through lengthy application procedures.
Free VantageScore® and Credit Education
First Access provides cardholders with free access to their VantageScore® and credit education resources. This benefit is crucial for individuals looking to understand and improve their credit scores. Having access to one’s credit score and educational resources can empower users to make informed financial decisions and track their progress as they build or rebuild their credit.
Prerequisites to Obtain the First Access Visa Credit Card
To apply for the First Access Visa Credit Card, applicants must meet certain requirements:
- Age and Residency: Applicants must be at least 18 years old and U.S. residents.
- Checking Account: A checking account is required to apply for the card.
- Identification and Verification: In accordance with the USA PATRIOT Act, applicants must provide personal information for identity verification, such as name, address, date of birth, and potentially other documents like a driver’s license.
The application process is typically quick, with most applicants receiving a decision within minutes. If more information is needed, the bank will contact the applicant with further instructions.
CLICK HERE TO ACCESS THE OFFICIAL FIRST ACCESS WEBSITE
About Bank of Missouri
The Bank of Missouri, founded in 1891, has a long history of serving customers’ financial needs. Originally known as the Bank of Perryville, it expanded its operations in 1997, opening additional branches in various locations. As of 2020, it operated 37 branches across Missouri and had assets of approximately $2.045 billion. The bank is committed to local communities, offering modern financial products and electronic banking tools while maintaining its core as a community bank. The bank has consistently received a 5-Star Rating from BauerFinancial, Inc., demonstrating its sound financial condition and ability to handle various economic conditions. The bank’s commitment to providing value to shareholders and serving diverse financial needs has made it a trusted institution in the region.
Who is this Card for?
The First Access Visa Credit Card offers a pathway for credit building with no required security deposit and regular credit reporting, but it’s accompanied by various fees and a high APR. It’s a viable option for those with damaged credit, but it’s important to weigh its costs against other credit-building alternatives.
Step by Step to Apply for the First Access Visa Credit Card
To apply for the First Access Visa Credit Card, you can follow these steps:
- Visit the Official Website: Go to the First Access Card official website at First Access Card Application Page.
- Complete the Application Form: Fill out the online application form with your personal and financial details. This will typically include your name, address, date of birth, Social Security Number, and information about your income and employment.
- Submit the Application: Review the information you’ve entered for accuracy, then submit your application.
- Await Approval Decision: The approval process is usually quick, and most applicants will know if they are approved within minutes.
- Pay the Program Fee: If approved, you will need to pay a one-time program fee. This can be done through the website or by calling customer service.
APPLY TO FIRST ACCESS VISA CREDIT CARD HERE
Positives and Negatives of the Card
Here’s a summarized list of the positives and negatives of the First Access Visa Credit Card:
Positives:
Unsecured Credit Option: Beneficial for individuals without the funds for a security deposit, typically required by secured credit cards.
Credit Building: Reports to the three major credit bureaus, aiding in building or improving credit history with responsible use.
Widespread Acceptance: As a Visa card, it is accepted at numerous retailers across the United States, both in physical stores and online.
Quick Application Process: Most credit decisions are made swiftly, often within 60 seconds.
User-Friendly Mobile App: Provides convenient account management and monitoring.
Access to Credit Education: Offers free access to VantageScore® and credit education resources, useful for understanding and improving credit scores.
Negatives:
High Fees: Includes a one-time program fee, annual fee, and monthly servicing fee starting from the second year, which can be burdensome.
High APR: Carrying a balance can lead to substantial interest charges due to its high Annual Percentage Rate.
Limited Rewards: The card does not offer a significant rewards program, which is a feature commonly found in other credit cards.
Credit Limit Increase Fee: Charges a fee for credit limit increases, which diminishes the benefit of a higher credit limit.
No Preapproval with Soft Pull: Applying for the card requires a hard credit inquiry, which can temporarily lower your credit score.
Geographic Limitation: The card may not be used at automated fuel pumps, for gambling transactions, or at merchants outside the United States.
How to Activate the Card?
Once you receive your card in the mail, you will need to activate it before use. Activation can be done online or over the phone. To do so, head on to the activation page on the First Access official website. Once there, follow the steps listed below:
- Insert the card number in the appropriate field.
- Insert your SSN Number (Social Security Number) in the next field.
- Insert the phone number used when applying for the card
- Hit the button “ACTIVATE MY CARD” and you are done.
You can call the number (877) 2593755 if you experience issues while activating your card.
Fees and Tariffs
The First Access Visa Credit Card comes with several fees and costs that are important for potential cardholders to be aware of:
- Program Fee: A one-time fee of $95 is charged when the card is first opened.
- Annual Fee: For the first year, the annual fee is $75. From the second year onwards, it reduces to $48 per year.
- Monthly Servicing Fee: This fee is waived for the first year. Starting from the second year, it is $8.25 per month, totaling $99 annually.
- Additional Card Fee: If you add authorized users to your account, it costs $29 per card, per year.
- Credit Limit Increase Fee: After one year of holding the card, you can qualify for a credit limit increase. However, there’s a fee of 20% of the increase amount.
- APR (Annual Percentage Rate): The card has a high APR, (35.99% at the time of writing) which means carrying a balance can result in significant interest charges.
Customer Service
For assistance or inquiries regarding the First Access Visa Credit Card, there are several official channels available:
Customer Service Phone Number: For specific questions about your application or card, you can call (888)-267-7980.
Email Support: For email inquiries, you can reach out to info@firstaccesscard.com.
Official Website: Visit the First Access Card official website at for more information about the card, application process, and other details.
Mobile App: The First Access Mobile App is available for download on both Apple and Android devices. The app allows for easy management of your account and making payments.
Mail Correspondence: If you prefer to send inquiries by mail, you can write to Infusion Strategies, FirstAccess.creditcard, PO Box 463, Madison, SD 57042.
Online Payments and Account Management: For making online payments and managing your account.
