What is the accepted credit score range for most cards?

First Electronic Bank generally accepts applications with poor to fair credit scores, which means you’ll need a minimum credit score in the low 300’s. Even if you have previously declared bankruptcy, there’s a chance you may be able to qualify for their card.

How many cards can you own?

You can only own one account with First Electronic Bank. You won’t pre-qualify or be approved if you already have an existing Destiny® Mastercard® account.

How many times can you apply?

Since First Electronic Bank only offers one card, you can only apply once.

How many times can you get approved?

You can only get approved once with First Electronic Bank. You’ll need to meet their credit qualification criteria and not have an existing Destiny® Mastercard® account. You also shouldn’t have had your previous Destiny® Mastercard® account canceled because of delinquency.

How many times can you claim a welcome bonus?

The Destiny® Mastercard® doesn’t offer a welcome bonus.

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.

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Advertising & Editorial DisclosureLast Updated: 11/8/2022

Reviewed By

Lee Huffman

Last Updated: 11/8/2022

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® Mastercard®. The average credit score required to get approved is in the low 300’s.

ON THIS PAGE:

Different Card Offerings from First Electronic Bank
Rules for Applying, Acceptance & Welcome Bonuses
Other Considerations for First Electronic Bank
Overall Opinion of First Electronic Bank & Card Offerings

Featured Credit Cards Offered by First Electronic Bank

The Destiny® 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.

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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® Mastercard®
A solid no-frills credit card with opportunities to repair or build credit
- Poor-FairRecommended Credit
- $59–$99Annual Fee
- 3# of Reporting Bureaus
- 24.90%APR
The Destiny Mastercard is a solid option for those with a limited or poor credit history. While the card is sparse on benefits — it doesn’t offer cash back or travel rewards, for example — it could be a good pathway for those with no or less-than-perfect credit to raise their credit score and may even help those looking to rebuild their credit after bankruptcy.
One thing to note: Applicants will be considered for two versions of the card: both have a credit limit of $300, but the fees may vary depending on which card you are approved for. Before applying and accepting the card, make sure you understand the terms and conditions relevant to the card you receive.
Pros
Monthly reporting to all three credit bureaus
Fast response to application
Quick pre-qualification without impacting your credit score
Choice of card design
Quick response to application

Cons
High interest rate (26.99% purchase APR)
Lack of robust benefits
The card is unsecured, and the credit limit is up to $300.
There’s no need to put down a security deposit.
The quick prequalification process won’t affect your credit score.
Card design is customizable.
Annual fees vary based on which version of the card you’re approved for.
Disclaimer: Card offers are always changing, and in some cases, the offer listed on our site may no longer be available.
Terms, rates and fees apply

More: Read Our Full Review of Destiny® Mastercard®

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.

Feature
Description
Customer Service & Satisfaction
First Electronic Bank issuer provides access to customer service through email, while the Destiny® Mastercard® toll-free customer service phone number for questions or concerns.
Mobile Apps & Online Services
The Destiny® 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® 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® 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® 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® Mastercard® also reports to all three major credit bureaus. This will help cardholders rebuild their credit score if used responsibly.
Authorized Users
It’s possible to add an authorized user to your Destiny® Mastercard®. No additional fees are listed in their cardholder agreement.
Purchase Protection
First Electronic Bank doesn’t offer purchase protection for the Destiny® Mastercard®.
Co-Branding & Partnerships
With the Destiny® Mastercard®, First Electronic Bank doesn’t have any co-branding or partnerships.
Other Products Offered
Aside from the Destiny® Mastercard®, First Electronic Bank also offers installment loans and GenesisCredit.

Overall Opinion of First Electronic Bank & Their Credit Card Offerings

The Destiny® 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® 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.

EXPERT OPINION

"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

Still Not Sure About This Issuer? Consider These Options.

If you’re still on the fence, try other issuers, the best cards for bad credit or student credit cards that better fit your needs.

Learn More About Credit Cards in General

sources

Consumer Financial Protection Bureau. "Destiny Mastercard." Accessed January 12, 2022.
Destiny Card. "Destiny® Mastercard®." Accessed January 12, 2022.
Destiny Card. "Pre-qualify." Accessed January 12, 2022.

*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
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.
Advertiser Disclosure: MoneyGeek has partnered with CardRatings.com and CreditCards.com for our coverage of credit card products. MoneyGeek, CardRatings and CreditCards.com may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.