First Electronic Bank Credit Card Reviews, Rules & Opinions
First Electronic Bank is an FDIC-insured bank based in Salt Lake City, Utah. Learn how to apply for a credit card, read MoneyGeek’s reviews and determine if this issuer best suits your unique situation.
First Electronic Bank provides credit products for individual consumers, including credit cards and installment loans. The state-chartered industrial bank only offers one credit card, the Destiny Unsecured Mastercard. The average credit score required to get approved is in the low 300’s.
Featured Credit Cards Offered by First Electronic Bank
The Destiny Unsecured Mastercard is the only credit card that First Electronic Bank offers. It landed on MoneyGeek’s list of the best student credit cards of 2022.
The Best First Electronic Bank Credit Cards for March 2022
MoneyGeek lists the best First Electronic Bank credit cards each month. This list may change as new cards are issued and as the list is updated according to welcome bonuses, reward categories and other criteria.
- Destiny Unsecured Mastercard
A solid no-frills credit card with opportunities to repair or build credit
- Poor-FairCredit Needed
- $59*Annual Fee
- 3# of Reporting Bureaus
Rules for Applying, Acceptance & Welcome Bonuses
If you’re trying to apply for a First Electronic Bank credit card, MoneyGeek answers some of the most commonly asked questions about the issuer’s terms and rules to help you determine if First Electronic Bank fits your needs.
Other Considerations About First Electronic Bank
Before applying for a credit card from First Electronic Bank, be sure to consider factors like customer satisfaction, online services, security and more.
Customer Service & Satisfaction
First Electronic Bank issuer provides access to customer service through email, while the Destiny Unsecured Mastercard toll-free customer service phone number for questions or concerns.
Mobile Apps & Online Services
The Destiny Unsecured Mastercard has a website where you can create an account, manage your card and send payments. In the United States, you can use your Destiny Unsecured Mastercard in-store, in-app or online anywhere Mastercard is accepted.
Security & Credit Monitoring Services
If there is any unauthorized use of your card, you are protected with zero fraud liability. You need to either call or write to Destiny Unsecured Mastercard if this happens.
Loyalty Programs & Other Issuer Perks
First Electronic Bank doesn’t issue many benefits or any loyalty programs. However, a benefit of Destiny Unsecured Mastercard is that individuals with poor credit scores don’t need to pay a security deposit. You can also get a speedy pre-qualification, getting your result within 60 seconds.
The Destiny Unsecured Mastercard also reports to all three major credit bureaus. This will help cardholders rebuild their credit score if used responsibly.
It’s possible to add an authorized user to your Destiny Unsecured Mastercard. No additional fees are listed in their cardholder agreement.
Overall Opinion of First Electronic Bank & Their Credit Card Offerings
The Destiny Unsecured Mastercard of First Electronic Bank is the only card the company offers. It may be a great option if you’re looking for a simple card that accepts individuals with poor credit or no credit history. It could be best for:
A student looking to get their first card
The Destiny Unsecured Mastercard is a great choice for students with no credit history who want a straightforward card.
Individuals with no or poor credit
If you have declared bankruptcy in the past or have no or poor credit, this card may fit your needs. Since First Electronic Bank reports to the three major credit bureaus, it will help build your credit score.
"When you're first starting out with credit, getting a credit card from an issuer like First Electronic Bank may be easier than a more well-known bank. Using the card responsibly by making all payments on time and keeping your balances low will help you grow your credit score so that you can qualify for other cards with more attractive features and benefits."
- Lee Huffman, credit card expert at BaldThoughts.com
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Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity.
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