What is the first savings credit card?

 

In case you want to repair your bad credit score, you can use the first savings credit card. This card cannot be bought by just anyone, this is an invitation-only card issued by the first savings bank. This card is useful for people who are planning to build their credit and want to come under the good graces of their bank.

 

The following is a list of benefits of getting a first savings credit card:

• You do not have to deposit any kind of security fees.
• People who have a poor credit history can build their reputations.
• It has access to the online account. Also, you can use your mobile account for management.
• There is no penalty in case you make late payments i.e., miss the grace period.
• It also covers insurance in case you lose your card.
• In case you cannot get a credit card because of a poor history of credits, you can get a first savings credit card. The credit card limit is increased on this type of credit card.
• This card is accepted almost everywhere in the world.
• The reports of this credit card are given to all the major credit bureaus.

 

As it is an invitation-only credit card, you cannot just apply for it. Even after you get an invitation, you have to apply to get a first savings credit card, even then you will only get it if you are selected. In case you are wondering why you haven’t received an invitation, then the reason is that you have a perfectly acceptable credit score, and you must be meeting all your deadlines. Furthermore, you can cancel your first savings credit card anytime you want. You just have to fill out a few forms and submit them to your bank. Also, you have to cut your card in 2 and return it to the bank for confirmation. Click here to know more about #first savings credit card.