What Credit First National Credit Card Is
Credit First National is a credit card issued by Credit First National Bank, a lender that specializes in cards for people rebuilding credit or working with limited credit history. The card functions like a standard credit card — you charge purchases, receive a monthly statement, and pay a balance — but it is designed for borrowers who may not meet the requirements of mainstream card issuers.
This card is not a secured card that requires a cash deposit, though Credit First does offer secured options as well. The unsecured version reports to the three major credit bureaus (Equifax, Experian, and TransUnion), which means your payment history can help build your credit score over time if you use it responsibly.
The card comes with an annual fee and carries an interest rate that reflects the risk profile of the borrower pool it serves. If you are considering this card, you should understand the costs involved and how it fits into your broader credit-building strategy.
Key Takeaways
- Credit First National cards report to all three credit bureaus, so on-time payments can help improve your credit score.
- The card carries an annual fee and a higher interest rate than cards offered to borrowers with strong credit histories.
- Credit First offers both unsecured and secured card options, and the secured version requires a cash deposit that serves as your credit limit.
- You will receive a credit limit decision within days of submitting your information, and the card typically arrives within one to two weeks.
- Responsible use — paying your full balance or a substantial portion of it each month — is the most effective way to build credit with this card.
Annual Fees and Interest Rates
Credit First National charges an annual fee for both its unsecured and secured cards. The exact amount varies depending on the card product and current offers, so you should confirm the current fee before you proceed. This fee is charged once per year, usually on your statement anniversary or at the time your account opens.
The interest rate (called the Annual Percentage Rate, or APR) is significantly higher than rates offered to borrowers with excellent credit. Credit First's APR typically ranges in the mid-to-high double digits, though the exact rate depends on your credit profile at the time of review. If you carry a balance month to month, interest charges will add substantially to what you owe.
The most cost-effective way to use this card is to pay your full statement balance by the due date each month. This way you avoid interest charges entirely and only pay the annual fee. Even if you cannot pay the full balance, paying as much as you can reduces the interest you owe on the remaining amount.
Credit Limit and How It Works
Your credit limit — the maximum amount you can charge to the card — is determined by Credit First based on your credit history, income, and other factors. For the unsecured card, this limit is not backed by a deposit; it is a line of credit extended directly by the bank. Limits typically start in the range of $300 to $500, though some cardholders receive higher limits depending on their circumstances.
If you are denied for the unsecured card or want a may provide limit, Credit First's secured card option allows you to deposit cash that becomes your credit limit. For example, if you deposit $500, your credit limit is $500. This deposit sits in a savings account and earns a small amount of interest, but you cannot withdraw it while the account is open.
As you use the card responsibly and make on-time payments, Credit First may increase your credit limit or convert your secured card to an unsecured one, returning your deposit. There is no set timeline for this, but it typically happens after 12 to 24 months of positive payment history.
How to Review Your Account and Make Payments
Credit First National provides online account access through their website. You can log in to view your current balance, available credit, recent transactions, and your statement. The login process requires your account number and a password you create during account setup.
Payments can be made online through your account portal, by phone by calling the customer service number on the back of your card, or by mail using the payment coupon included with your statement. Online and phone payments typically post within one business day. Mail payments take longer — usually five to seven business days — so plan ahead if you are close to your due date.
Your monthly statement shows your opening balance, all charges and credits, the minimum payment due, your full statement balance, the due date, and the interest rate being charged. The minimum payment is usually 1 to 3 percent of your total balance, but paying only the minimum means you will carry a balance and pay interest.
Building Credit With This Card
The primary reason to open a Credit First National card is to build or rebuild your credit score. The card reports your payment history to Equifax, Experian, and TransUnion each month. This means that every on-time payment adds to a positive credit history, and late payments or missed payments damage your score.
Your credit utilization — the percentage of your available credit that you are using — also affects your score. For example, if your limit is $500 and you carry a $250 balance, your utilization is 50 percent. Lower utilization is better for your score, so keeping your balance well below your limit helps. Financial experts generally recommend keeping utilization below 30 percent.
Over time, consistent on-time payments and low utilization can improve your credit score enough to may have access to you for cards with lower fees and better interest rates. This card is most effective as a stepping stone rather than a long-term product.
Comparing Credit First to Other Rebuilding Cards
Several other issuers offer cards designed for people rebuilding credit, and the terms vary significantly. Some cards charge no annual fee but have higher interest rates. Others offer a secured option with a lower annual fee. Some report to all three bureaus; others report to only one or two.
Before you open a Credit First card, compare it to alternatives like Discover's secured card, Capital One's Platinum card, or other options available through your bank. Look at the total cost: annual fee plus the interest you would pay if you carry a balance. Also check whether the card reports to all three bureaus, since that affects how quickly your credit score can improve.
If you have access to a credit union, ask whether they offer a credit-builder loan or card, as these often have lower fees and rates than national issuers. A credit-builder loan, for example, may cost less overall and build your credit just as effectively.
What Happens If You Miss a Payment
If your payment is not received by the due date, your account is considered late. Credit First will report this to the credit bureaus, and a late payment can significantly damage your credit score. The impact is larger the later the payment is — a payment 30 days late hurts more than a payment one day late.
After 30 days late, Credit First will likely charge a late fee in addition to interest on your balance. If your account reaches 60 or 90 days late, the bank may freeze your account, preventing new charges. At 180 days late (six months), the account may be closed and sent to collections.
If you know you cannot make your payment by the due date, contact Credit First's customer service when ready. Some banks offer hardship programs or can work with you on a payment plan, though this varies by situation. It is always better to communicate early than to let an account fall behind.
Frequently Asked Questions
How long does it take to get approved and receive the card?
Credit First typically makes a decision within one to three business days of your process. If you are approved, the card is mailed to your address and usually arrives within seven to ten business days. You can begin using the card once it arrives; some issuers allow online purchases before the physical card reaches you, but confirm this with Credit First.
Can I upgrade from a secured card to an unsecured card?
Yes. After demonstrating responsible use — typically 12 to 24 months of on-time payments — Credit First may convert your secured card to an unsecured one and return your deposit. You can also request a review of your account if you believe you are ready. There is no may provide of conversion, and timing depends on your individual payment history.
What is the difference between this card and a prepaid card?
A prepaid card requires you to load money onto it before you can spend it; it does not involve borrowing. A Credit First card is a true credit card — you borrow money when you charge, and you repay it later. Only credit cards report to credit bureaus and help build your credit score. Prepaid cards do not.
Will this card hurt my credit score when I open it?
Opening any new credit account results in a small, temporary dip to your credit score because the issuer performs a hard inquiry and your average account age decreases. This dip typically recovers within a few months. The long-term benefit of on-time payments far outweighs this initial small decrease.
Can I use this card internationally?
Credit First cards carry a Visa or Mastercard logo and can be used at merchants worldwide that accept those brands. However, international purchases typically include a foreign transaction fee (usually 1 to 3 percent of the purchase amount). Check your cardholder agreement or contact customer service to confirm the exact fee before traveling.