What the Flagstar Credit Card Is
Flagstar Bank offers a credit card through its retail banking division. The card is a standard rewards card that earns cash back on purchases, with no annual fee. It is issued by Flagstar Bank, a Michigan-based bank that also offers checking accounts, savings accounts, and mortgages.
The card is available to customers who have an existing relationship with Flagstar Bank — typically those who hold a checking or savings account there. If you do not already bank with Flagstar, you would need to open an account first before you can request a credit card.
Like any credit card, the Flagstar card charges interest on balances you carry month to month. The interest rate (called the APR, or annual percentage rate) depends on your credit score and credit history. Flagstar publishes a range, but your actual rate will be determined when you explore.
Key Takeaways
- The Flagstar credit card earns cash back on all purchases and has no annual fee, but you must be a Flagstar Bank customer to request one.
- Your interest rate depends on your credit score and history, and Flagstar will tell you the range before you commit to the card.
- You can manage the card through Flagstar's online banking portal or mobile app, the same way you access your checking account.
- If you carry a balance, interest charges will offset the cash back rewards, so paying your full statement balance each month maximizes the card's value.
How to Get the Flagstar Credit Card
If you already have a Flagstar checking or savings account, you can request a credit card through your online banking portal or by calling Flagstar customer service. Log into your account, look for the credit card section, and follow the prompts to request a card. Flagstar will pull your credit report and make a decision within a few business days.
If you do not yet have a Flagstar account, you will need to open one first. You can do this online at Flagstar's website or in person at a branch. Opening a checking account takes about 10 minutes online and requires your Social Security number, a government ID, and an initial deposit (the minimum varies by account type). Once your account is open and active, you can then request the credit card.
When you request the card, Flagstar will ask for basic information: your name, address, income, and employment status. Be honest about these details — Flagstar uses them to set your credit limit and interest rate. If you are denied, Flagstar will tell you why and whether you can reapply later.
Rewards and Fees
The Flagstar credit card earns cash back on all purchases. The cash back rate is typically 1% on every dollar you spend, though Flagstar occasionally runs promotions that offer higher rates for a limited time. Cash back is credited to your account monthly and can be used to pay your bill or transferred to your Flagstar bank account.
There is no annual fee to hold the card. There are also no fees for balance transfers, foreign transactions, or late payments — though a late payment will damage your credit score and trigger a higher interest rate on future balances.
If you carry a balance from month to month, the interest you pay will likely exceed the cash back you earn. For example, if you carry a $1,000 balance at 18% APR, you will pay about $15 in interest that month but earn only $10 in cash back (1% of $1,000). Paying your full statement balance each month is the only way to avoid interest charges and keep the rewards.
Interest Rates and Credit Limits
Flagstar publishes a range for credit card APR — for example, 15.99% to 25.99% — but your actual rate depends on your credit score, income, and credit history. If you have a score above 750 and no recent missed payments, you are more likely to receive a rate at the lower end of the range. If your score is below 650 or you have recent late payments, you may receive a rate at the higher end.
Your credit limit is also set based on your credit profile and income. Flagstar typically starts new cardholders with a limit between $500 and $5,000, though this varies. You can request a higher limit after you have held the card for six months and made on-time payments.
The APR on the card is variable, which means it can change over time. Flagstar will notify you in writing if your rate changes, and the change will take effect on your next billing cycle.
How to Manage Your Account
Once you receive your card, you can manage it through Flagstar's online banking portal or mobile app. Log in with the same username and password you use for your checking account. You can view your balance, make payments, see your cash back earnings, and read statements.
Payments can be made online, by phone, or by mail. The easiest method is online — log into your account, select the credit card, and choose how much to pay. You can pay the full balance, the minimum payment, or any amount in between. Payments made online typically post within one business day.
Set up automatic payments if you want to may support you never miss a due date. You can schedule a payment for a specific date each month, and Flagstar will deduct it from your checking account automatically. This is the safest way to protect your credit score.
When the Flagstar Card May Not Be the Right Choice
The Flagstar credit card is a basic rewards card with no special features or bonus categories. If you spend heavily in specific categories — groceries, gas, dining — you may earn more cash back with a card that offers higher rewards in those areas. For example, some cards offer 3% cash back on groceries and 2% on gas, compared to Flagstar's flat 1%.
The card also requires you to be a Flagstar Bank customer, which adds a step if you do not already bank there. If you prefer to keep your banking and credit card accounts separate, or if you want to compare cards from multiple issuers, you may find a better fit elsewhere.
If you have a low credit score (below 600), you may be denied for the Flagstar card or offered a very high interest rate. In that case, a secured credit card — which requires a cash deposit — may be a better starting point to build your credit history.
Comparing the Flagstar Card to Other Options
The Flagstar card competes with other no-annual-fee cash back cards from larger banks and credit card issuers. Cards from Chase, Capital One, and Discover also offer 1% cash back with no annual fee. The main difference is that those cards do not require you to have an account with the issuer first.
If you are already a Flagstar customer and want a straightforward rewards card, the Flagstar card is convenient because you can manage it alongside your checking account in one place. If you are not yet a customer and are shopping for a credit card, you may find it easier to open a card with an issuer that does not require a bank account first.
Some cards offer introductory rates or bonus cash back in the first few months. Flagstar occasionally runs promotions, so it is worth checking their website or asking in a branch whether any current offers are available.
Frequently Asked Questions
Do I need a Flagstar checking account to get the credit card?
Yes. Flagstar issues the credit card only to existing customers. If you do not have a Flagstar account, you will need to open a checking or savings account first. This takes about 10 minutes online and requires an initial deposit.
What happens if I miss a payment?
A missed payment will be reported to the credit bureaus and will damage your credit score. Flagstar may also charge a late fee (the amount varies) and increase your interest rate. If you miss a payment, contact Flagstar as soon as possible to bring your account current.
Can I transfer a balance from another credit card?
Flagstar does not advertise balance transfer offers on its website. Contact Flagstar directly to ask whether balance transfers are available and whether any promotional rates explore. Even if they are available, balance transfers typically charge a fee (usually 3% to 5% of the amount transferred).
How long does it take to receive the card after I am approved?
Flagstar typically mails the card within 7 to 10 business days after approval. You can set up it online or by phone as soon as it arrives. In some cases, Flagstar may offer expedited shipping for an additional fee.
Can I use the card internationally?
Yes, the Flagstar card can be used abroad. There is no foreign transaction fee, which means you will not be charged extra when you use the card in another country. However, your bank's exchange rate will explore, so the amount charged may differ slightly from the local price.