First Bank Business Edition® Secured Mastercard®
- Annual fee
- $39
- Recommended credit
- Poor / No Credit Required
- Card network
- Mastercard
- Regular purchase APR
- 27.99% variable based on the Prime Rate
At a glance
The First Bank Business Edition® Secured Mastercard® offers companies the chance to build credit and advance to more lucrative rewards cards. From Missouri-based First Bank, the card features scalable credit, a fixed-rate APR, and a $39 annual fee.
Our review of the First Bank Business Edition® Secured Mastercard®
Are you looking for a credit card expert’s opinion on the First Bank Business Edition® Secured Mastercard®? Look no further! In this review, we will dive deep into the features, benefits, and drawbacks of this particular secured credit card to help you make an informed decision.
The First Bank Business Edition® Secured Mastercard® is a great option for business owners looking to build or rebuild their credit. With a secured credit limit that is equal to your security deposit, this card can help you establish a positive credit history while also providing the convenience and flexibility of a Mastercard.
One of the key benefits of the First Bank Business Edition® Secured Mastercard® is its low annual fee. At just $29 per year, this card offers a cost-effective way to access credit and improve your credit score. Additionally, the card reports to all three major credit bureaus, helping you establish a strong credit history.
While the First Bank Business Edition® Secured Mastercard® does require a security deposit, this can be a small price to pay for the benefits it offers. By responsibly using this card and making on-time payments, you can improve your credit score over time and potentially qualify for an unsecured credit card in the future.
In conclusion, the First Bank Business Edition® Secured Mastercard® is a solid choice for business owners looking to build or rebuild their credit. With its low annual fee, reporting to all three major credit bureaus, and potential for credit score improvement, this card offers a great value for those looking to establish a positive credit history.
Card features
Benefits as listed on the original card page. They can change; confirm details with the issuer.
- Build credit with on-time payments
- Reward yourself with interest earned on your security deposit
- $39 annual fee
Who this card may suit
- You're a business owner with little to no credit history
- You would like a suite of online account management tools
- You can afford the steep security deposit requirements
Rates, fees and terms
| Annual Fee | $39 |
|---|---|
| Regular Purchase APR | 27.99% variable based on the Prime Rate |
| Balance Transfer APR | 27.99% variable based on the Prime Rate |
| Balance Transfer Transaction Fee | Either $10 or 5% of the amount of each transfer, whichever is greater |
| Cash Advance APR | 28.99% variable based on the Prime Rate |
| Cash Advance Transaction Fee | Either $10 or 5% of the amount of each transfer, whichever is greater |
| Foreign Transaction Fee | 3% of each transaction in U.S. dollars |
| Return Payment Penalty Fee | $35 |
| Over Limit Penalty Fee | $39 |
Confirm before you apply: rates, fees and offers change often. The figures above are the ones listed on the original card page, not a current quote from the issuer. APRs are typically variable, and the rate you receive depends on your creditworthiness. Recommended credit: Poor Credit Limited or No Credit.
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First Bank Business Edition® Secured Mastercard®
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