What the Credit First Card Is
The Credit First Card is a secured credit card issued by Comenity Bank. You put down a cash deposit, and that deposit becomes your credit limit — so if you deposit $500, you get a $500 limit. The card reports to all three credit bureaus (Equifax, Experian, and TransUnion), which means your payment history builds your credit score over time.
This card is designed for people rebuilding credit or establishing a credit history for the first time. Because the bank holds your deposit as collateral, they take on less risk, which is why secured cards exist for people who would not be approved for a regular unsecured card.
The deposit stays in a separate account and earns a small amount of interest. You do not lose the deposit when you use the card — it stays yours. You can close the account and get it back whenever you want, though the bank may convert you to an unsecured card after responsible use.
Key Takeaways
- Your cash deposit becomes your credit limit, so a $500 deposit gives you a $500 spending limit.
- The card charges an annual fee (the exact amount varies by issuer and current terms) and reports to all three credit bureaus.
- On-time payments build your credit score, and after 6 to 18 months of responsible use, you may be offered conversion to an unsecured card.
- Your deposit earns interest while held by the bank and is returned when you close the account or graduate to an unsecured card.
- The card has a purchase APR that applies if you carry a balance, so paying in full each month avoids interest charges.
How to Open a Credit First Card Account
You can open a Credit First Card online through Comenity Bank's website or by phone. You will need to provide your Social Security number, date of birth, address, and income information. The bank will pull a soft credit inquiry, which does not affect your credit score.
Once approved, you choose your deposit amount — typically between $200 and $2,500, though minimums and maximums vary. You fund the deposit through a bank transfer or check. After the deposit clears, your card arrives in the mail within 7 to 10 business days.
Some versions of this card may have different names or slight variations in terms depending on where you open it, so confirm the current annual fee and APR before you submit your information. These details change over time and may differ from what you see in older articles.
Annual Fees and Interest Rates
The Credit First Card charges an annual fee. The exact amount depends on the current terms offered by Comenity Bank and may vary based on your creditworthiness at the time you open the account. You should confirm this fee before you open the account, as it will be charged to your account each year.
The card also has a purchase APR — the interest rate charged if you carry a balance from month to month. This rate is higher than you would see on an unsecured card, typically in the mid-to-high range. The best way to avoid interest charges is to pay your full statement balance by the due date each month.
There is no grace period on cash advances, meaning interest starts accruing when ready if you use the cash advance feature. Most people rebuilding credit should avoid cash advances and use the card only for small purchases they can pay off in full.
Building Credit With This Card
The Credit First Card reports to all three credit bureaus, so every on-time payment you make is recorded on your credit report. Payment history makes up about 35% of your credit score, so consistent on-time payments are the fastest way to improve your score with this card.
Keep your balance low relative to your credit limit — ideally below 30% of your limit. This is called your credit utilization ratio, and it affects your score. If your limit is $500, try to keep your balance below $150 at the time your statement closes.
After 6 to 18 months of on-time payments and responsible use, Comenity Bank may offer to convert your account to an unsecured card. When this happens, your deposit is returned to you, and you keep the card with a higher credit limit. Conversion is not may provide, but it is a common outcome for cardholders who pay on time.
When a Secured Card Makes Sense
A secured card is useful if you have no credit history, a very low credit score, or a history of missed payments that you are now working to overcome. The deposit removes the bank's risk, so you can build credit even if you would not be approved for a regular card.
Secured cards are not the right choice if you already have access to unsecured cards with reasonable terms. If you have fair credit or better, you may may have access to for a regular card without putting down a deposit, and you would avoid the annual fee.
If you are considering a secured card, compare it to other options: some banks offer unsecured cards for people rebuilding credit, though they usually have higher fees or lower limits. A secured card is often the most straightforward path, but it is worth checking what else is available to you first.
What Happens After You Close the Account
When you close a Credit First Card account, your deposit is returned to you within 5 to 7 business days. The account closure is reported to the credit bureaus, and the account will remain on your credit report for up to 10 years — even after it is closed.
Closing the account does not erase your payment history, so the on-time payments you made will continue to help your credit score. However, closing an account does reduce the total amount of credit available to you, which can slightly lower your score in the short term.
If Comenity Bank converts your account to an unsecured card instead, you do not have to close anything — the conversion happens automatically, your deposit is returned, and you keep using the card with a new limit and potentially different terms.
Comparing Secured Cards
Several banks offer secured credit cards, and the terms vary. Some charge no annual fee, while others charge $25 to $95 per year. Some have lower APRs, and some offer higher deposit limits. Before you choose, compare the annual fee, APR, minimum deposit, and whether the card reports to all three bureaus.
The Credit First Card is one option among several. Other secured cards come from banks like Capital One, Discover, and various credit unions. The "best" card depends on your deposit amount, how long you plan to keep it open, and whether you value a lower annual fee or a lower APR more.
If you are rebuilding credit, the most important factor is consistent on-time payments, not which secured card you choose. Any card that reports to all three bureaus and charges a reasonable fee will work. Focus on using it responsibly rather than finding the perfect card.
Frequently Asked Questions
Can I use my deposit as a payment?
No. Your deposit is held separately and is not available to use as a payment. You must pay your bill from a bank account, check, or other payment method. The deposit stays in the bank's account and earns interest until you close the account or convert to an unsecured card.
What if I miss a payment?
A missed payment is reported to the credit bureaus and will damage your credit score. The bank may charge a late fee and increase your APR. If you miss a payment, contact the bank as soon as possible to bring your account current. One missed payment can set back your credit rebuilding by months.
How long does it take to convert to an unsecured card?
There is no set timeline. Some cardholders are offered conversion after 6 months of on-time payments, while others wait 18 months or longer. The bank reviews accounts periodically and makes conversion offers based on your payment history and overall creditworthiness. You cannot request conversion — the bank initiates it.
Does the deposit earn interest?
Yes, the deposit earns a small amount of interest while held by the bank. The rate is typically very low — often less than 1% per year — but you do earn something. The interest is credited to your deposit account, not your card account.
What if I want to increase my credit limit?
With a secured card, you increase your limit by increasing your deposit. You can deposit additional money into your collateral account, and your limit will rise by that amount. There is usually a maximum total deposit, so check your account terms for the cap.