Firstcard offers a secured credit builder card designed to help users establish or improve their credit scores without a credit check. The service reports activity to all three major credit bureaus while offering features like 0% APR and unlimited cashback on purchases. This platform specifically caters to individuals, including international students and immigrants, who may lack a Social Security Number.
Funding
$7.7M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many individuals, including international students and immigrants, face difficulties in building credit due to a lack of credit history or the requirement for a Social Security Number (SSN) by traditional financial institutions. This lack of credit can hinder their ability to access essential financial services like loans and mortgages.
Solution
Firstcard provides secured credit builder cards designed to help individuals with limited or no credit history establish and improve their credit scores. The Firstcard secured card does not require a credit check or an SSN for approval, making it accessible to a broader range of users, including international students and immigrants. Users can build credit safely with a 0% APR, while also earning cashback rewards on purchases and Annual Percentage Yield (APY) on their deposits. Firstcard reports to all three major credit bureaus, enabling users to establish a credit history and improve their creditworthiness over time.
Target Audience
Firstcard primarily targets international students, immigrants, non-US citizens, and first-time credit builders in the US who may have limited access to credit-building tools from traditional banks.
Features
- Secured credit card that does not require a credit check or SSN for approval
- Reporting to all three major credit bureaus (TransUnion, Equifax, and Experian) to build credit history
- Cashback rewards at over 29,000 partner merchants, with opportunities for random cashback and additional cashback tiers
- APY earnings on deposits, with higher rates available for premium members
- No APR, late fees, overdraft fees, or minimum deposit requirements
- Multilingual customer support in English, Chinese, Japanese, Spanish, and Portuguese
- FDIC insurance up to $250,000 through Regent Bank, member FDIC
- Mobile app for managing accounts, tracking spending, and monitoring credit progress