First Digital Mastercard Review 2024 (2024)

If you’ve faced financial hardships and are working to rebuild your credit, getting that initial second-chance credit card can feel daunting. While the First Digital Mastercard®* is intended for users with bad credit, this card is likely to keep you trapped in a cycle of debt without helping you improve your credit profile.

Unlike many credit cards aimed at rebuilding credit without an annual fee, the First Digital Mastercard®* comes with an annual fee of $75 for first year, $48 annually thereafter. One-time $95 program fee is due after approval to activate the card. You will also pay $8.25 in monthly fees after your introductory year for a total of $99 per year. That means you’ll pay $170 the first year and $147 each year thereafter just to own the card.

It’s important to note that the First Digital card has a whopping 35.99% variable APR—one of the highest we’ve ever seen on a credit card—making it expensive to carry a balance.

For those looking to add an additional cardholder, the First Digital Mastercard®* charges a $29 fee. This fee is applied for each year you have an additional card regardless of whether that card is used. If you wish to cancel an additional card, you must notify the provider in writing within 30 days or one billing cycle after an additional card fee appears on your monthly statement.

The fees don’t stop there. The First Digital Mastercard applies a 25% fee for credit limit increase requests. This means if you request a $100 credit limit increase there will be a $25 finance charge added to your account—and this financial charge will immediately reduce your available credit.

In addition, there’s a $10 fee if you pay your bill by phone and a fee we’ve never encountered before: If you request a “premium plastic card” you’ll be charged a one-time fee of up to $10. It’s exactly these types of predatory fees that put this card firmly in the “don’t even think about it” category.

The First Digital Mastercard is an expensive and poor choice for those looking to regain or build their financial footing. Run far away—and choose a card that will actually help you meet your credit-building goals instead.

• $75 for first year, $48 annually thereafter. One-time $95 program fee is due after approval to activate the card annual fee
• Approval without perfect credit
• 35.99% variable APR for purchases and cash advances
• Imposes a monthly maintenance fee along with an annual fee
• $29 annual fee for an additional card

Earning Rewards

The First Digital Mastercard®* earns 1% back as statement credits for payments made on the account.

Redeeming Rewards

You can only redeem your rewards for statement credit back on your monthly bill. Rewards may only be redeemed in increments of 500 points, which is equivalent to $5. There is no limit to redeeming rewards, given you have the points available.

Rewards Potential

To determine the rewards potential of the First Digital Mastercard®*, we look at the bonus categories and calculate what an average American household might spend in those areas. Forbes Advisor uses data from various government agencies to determine both baseline income and spending averages across various categories. Based on our data, the average household can spend $30,974 annually on a credit card.

That means that a cardholder who uses only this card and pays their credit card statement every month can earn a maximum of 30,974 points annually. This can be redeemed for $310 in statement credits, with the 500-point minimum redemption amount in mind.

First Digital Mastercard®* Rewards Potential

The First Digital card comes with standard Mastercard benefits.

• Zero liability protection. Mastercard does not hold you responsible for fraudulent purchases.
• ID theft protection. Credit file monitoring for suspicious activity and alerts for those who register.

Interest Rates

• Regular APR: 35.99% variable APR

Fees

• Annual fee: $75 for first year, $48 annually thereafter. One-time $95 program fee is due after approval to activate the card
• Balance transfer fee: N/A
• Foreign purchase transaction fee: See terms

First Digital Mastercard®* vs. Mission Lane Visa® Credit Card*

Like the First Digital Mastercard®*, theMission Lane Visa® Credit Card* is an unsecured credit card, meaning no upfront security deposit is required. However, you will pay significantly less in fees with the Mission Lane Visa. Depending on your credit history, your annual fee will be between $0 - $59, but you will not pay a program fee or a monthly fee. That’s a minimum of $111 less in your first year.

The 19.99% - 33.99% variable APR on purchases is lower on the Mission Lane Visa, making it a less expensive option if you need to carry a balance. Mission Lane also rewards you for good behavior by considering an increase in your credit limit after making on-time payments in the first year without charging you for the privilege.

First Digital Mastercard®* vs. Capital One Platinum Credit Card

The Capital One Platinum Credit Card (rates & fees) is another unsecured card but with no annual fees and a slightly less punitive 29.99% Variable APR for purchases and balance transfers. The no-frills card is aimed at those with either limited credit history or seeking a credit builder card. This card, however, has none of the drawbacks of the First Digital card like annual fees, account opening fees and credit limit increase fees. The Capital One Platinum card (rates & fees) can also be used abroad without any foreign transaction fees and you can qualify for a credit line increase in as little as six months with responsible credit usage and on-time payments.

Capital One will allow you to check forprequalified offers, without impacting your credit via a hard credit check, which can be a great way to test the waters as to whether you’re likely to be approved.

First Digital Mastercard®* vs. Citi® Secured Mastercard®*

Unlike the cards above, the Citi® Secured Mastercard®* requires a deposit to cover your available credit limit. This security deposit protects the card provider from loss if you default on your payments. However, unlike annual fees, a security deposit can be refunded. Citi will review your account within 18 months of opening to determine whether you might be eligible to have the deposit refunded if you remain in good standing or if you close the account and pay your balance in full. The Citi® Secured Mastercard®* also offers a lower APR than the First Digital Mastercard at 27.74% (Variable). Plus, Citi won’t charge you annual or monthly fees.

No. We rarely say that a card is not for anyone, but there are a variety of credit cards available to those rebuilding credit that charge fewer fees and offer a lower APR. The exorbitant fees on this card make it a poor fit for just about everyone.

Forbes Advisor considers a variety of criteria when assigning credit cards a rating. Cards are graded based on numerous factors including:

• Annual fees
• Rewards earnings rates
• Rewards redemption abilities
• Additional fees
• Additional cardholder benefits

Card features we expect cardholders to use the most often are weighted more heavily in our ratings. Altogether, the factors came together to provide a star rating for each individual card.

To learn more about our rating and review methodology and editorial process, check out our guide on how Forbes Advisor rates credit cards.