The First Savings credit card is a Mastercard issued by First Savings Bank and marketed toward individuals with poor credit scores. It’s an unsecured credit card with a subprime interest rate that varies depending on your creditworthiness, though fees are known to be quite high.

First Savings Bank markets the First Savings Credit Card through pre-screened credit card offers via an email or mail. This is an invitation only credit card.

You can apply for this credit card only if you receive a special invitation from First Savings Bank. The invitation is mostly sent to people with subprime credit, so you may receive it if your credit is low.

First Savings Credit Card Review Overview

If you receive an invitation via an email or mail and you accept it, you’ll get the access code and reservation number. Enter the access code and reservation number here.

Then, you’ll be required to verify your mailing address and complete a few more steps. An offer will be made to you depending on your qualifications.

If you agree to the terms, you may decide to accept the offer and signup for the First Savings Card.

There are 6 offers given to applicants that range from the lowest APR of 16.40% and no annual fee up to the highest offer of an APR of 29.9% and a $75 annual fee.

The APR is the same 29.9% for offers 2-6 with only minor changes to the annual fee. So, if you get offered the first offer package, this might be a good option. If you are offered the other 5 offers, you might want to look elsewhere.

Key Details of the First Savings Credit Card

• Annual Fee: $0 – $75
• Credit Limit: Starts at $300.
• Annual Percentage Rate (APR): Up to 29.9%.
• Security Deposit: $0 (none required since this is an unsecured credit card).
• Cash Advance Fee: Typically 2%
• Reward Program: There are no cash back rewards or travel rewards offered with this card.
• Online Account Access: You can easily look at your account summary online, and the card also offers a mobile app so you can stay informed on your phone and schedule automatic payments as needed.
• Reports to Credit Bureaus: The First Savings card will give information to all three major credit bureaus so you can demonstrate your responsible credit payments and history.
• Application: Must be invited through the mail to apply. Only after you receive and accept the mail offer can you go online and fill out an application.
• Customer Service: Available online and via phone.
• Fraud Protection: Protects against fraudulent charges and if your card is stolen.

The Pros of the First Savings Credit Card

The Cons of the First Savings Credit Card

Should I Get the First Savings Credit Card?

Once you receive your invitation and terms they will look different for each applicant based on their credit worthiness.

For instance, if you get a 17.15% APR with a $0 annual fee, then the First Savings Credit Card could be a good option for you. Since there is no annual fee, it may be a good option for rebuilding the credit.

However, you could be offered a $75 annual fee and a 29.9% APR. These rates are very high and make the First Savings Credit Card a poor option for rebuilding credit. In addition, you’ll get a credit limit of $300 which may not be enough for you.

Simply put, the answer if this card is a good option solely depends on whether you are given a good offer. If your APR and annual fee is high, it would be better to find another option.