An accessible credit card that earns rewards: A review of the Firstcard Secured Credit Builder Card with Cashback.

If you're struggling to get approved for traditional credit cards and want to improve your credit score, the Firstcard® Secured Credit Builder Card with Cashback could be a good option. Unlike many secured cards, it doesn't require a minimum deposit, but it does charge an annual fee based on the membership plan you choose. Each plan offers a tiered mix of benefits, including an Annual Percentage Yield (APY) on Firstcard deposits.

The Firstcard® Secured Credit Builder Card with Cashback is a great option for international students, new immigrants, and others with limited credit history due to its easy approval process and accessibility. It doesn't require a Social Security Number (SSN) or an Individual Taxpayer Identification Number (ITIN), making it a great choice for those who don't have these documents. CNBC Select reviews the details of this card to help you decide if it's right for you.

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Welcome bonus

The Firstcard Secured Credit Builder Card does not offer a welcome bonus with cashback.

Benefits and perks

The Firstcard Secured Credit Builder Card with Cashback is an easy-to-qualify-for card that doesn't require a credit check or SSN. To be eligible, you must be at least 18 years old, a U.S. resident, and have a government-issued ID.

The benefits of each Firstcard membership plan vary. For example, Firstcard+ and Firstcard Premium offer more perks, such as an in-depth credit report, while the Firstcard Standard plan does not. Additionally, each plan earns a different APY on your deposits, with higher-tier plans offering better rates.

Regardless of the plan, all cardholders enjoy key features like:

• Credit monitoring: Track your progress as you build your credit score.
• Unauthorized transactions will not result in liability for you if your Mastercard card is lost or stolen.
• Credit reporting: Your responsible credit behavior is reported to the three major credit bureaus (Equifax, Experian, and TransUnion), helping you improve your credit.

Consistent, on-time payments can improve your credit score, but missed or late payments can negatively impact it. Additionally, certain features, such as earning an APY and credit monitoring, may require an SSN or ITIN.

Rewards

Unlike many secured cards, the Firstcard Secured Credit Builder Card with Cashback provides multiple opportunities to earn rewards on your purchases.

• Up to 15% cash back at 29,000 partner merchants
• Qualifying purchases in the Firstcard app can earn up to 10% cashback.
• Your Firstcard plan offers unlimited 0.10%, 0.50% or 1% cash back on all purchases.

Although the bonus rewards can be entertaining and possibly profitable, it's crucial to understand that only one of the cashback rates is guaranteed. The 15% cashback is only applicable to certain merchants, and the bonus spin rewards are dependent on chance and may not always result in extra cashback. The guaranteed cashback amount varies based on your Firstcard plan type and is added to other cashback possibilities.

Earn up to $250 in cashback daily and have it directly applied to your Firstcard account, offsetting your spending or growing your balance.

Rates and fees

The Firstcard Secured Credit Builder Card with Cashback requires a paid membership plan:

• Firstcard Standard: $4.99/month or $48/year
• Firstcard+: $8.99/month or $84/year
• Firstcard Premium: $12.99/month or $120/year

The card minimizes other fees besides the membership plan. It operates based on deposits, so there are no late, penalty, or APR fees. However, there is a $2.50 fee for ATM withdrawals. Depending on the membership plan, there's an up to 3% foreign transaction fee, but it's waived for Firstcard Premium members.

Card comparison

Firstcard Secured Credit Builder Card with Cashback vs. Discover it® Secured Credit Card

The Discover it® Secured Credit Card offers a more straightforward rewards structure than the FirstCard, with no annual fee, a security deposit of at least $200, and reports payment activity to all three major credit bureaus. Additionally, the card provides a welcome bonus for new cardholders.

The Discover it Secured card offers basic benefits such as $0 fraud liability and credit score alerts, and provides a path to an unsecured credit card after seven months, but one potential drawback is that it requires an SSN to verify identification, which may affect approval.

If you have an SSN and want to build credit while earning rewards, the Discover it Secured card is a great option. However, if you're unsure about approval, the Firstcard Secured Credit Builder Card with Cashback may be a better fit.

Learn more: Discover it® Secured Credit Card

Firstcard Secured Credit Builder Card with Cashback vs. Capital One Platinum Secured Credit Card

The Capital One Platinum Secured Credit Card is a simplified secured card that requires a low deposit of $49, $99, or $200, based on your creditworthiness. It comes with minimal fees, including no annual fee, and provides a straightforward route to transitioning to an unsecured card.

Unlike the Firstcard, the Capital One Platinum Secured does not offer any rewards. Additionally, Capital One requires a credit check for approval, which may discourage some individuals from applying.

If you're not focused on rewards and are just looking for a reliable credit builder card, the Capital One Platinum Secured Credit Card could be a strong choice. However, if you're looking for a secured card with rewards and easier approval, and don't mind paying an annual fee, the Firstcard Secured Credit Builder Card with Cashback may better suit your needs.

Learn more: Capital One Platinum Secured Credit Card

Is the Firstcard Secured Credit Builder Card with Cashback right for you?

If you're looking to build or rebuild your credit and don't have an SSN, the Firstcard Secured Credit Builder Card with Cashback could be a good option. It has an easy application process with no credit check or hard inquiry, and it reports your payment activity to all three major credit bureaus.

Consider alternatives like the Discover it® Secured Credit Card or Capital One Platinum Secured Credit Card if you prefer a no-annual-fee card or one with upgrade potential, as they offer no membership fees, a path to an unsecured card, and a more limited rewards program.

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