A guide to legacy credit card and why you must have one


The First National Bank issues a legacy credit card to individuals with low credit score. The offer of application is shared as an invitation by the bank with some specific details. Only, if you accept the invitation, there are certain procedures to log in with the help of the credential provided in the invitation.

Once you become a legacy credit card holder, all the card activities are reported to three agencies. Therefore, it paves the way for you to improve your credit score and ultimately get a Mastercard with a good credit score. The condition is to use the card responsibly and properly.

Advantages of a legacy credit card

You get purchase protection from this legacy card. Hence, you get to cover damages that may occur due to theft, or accident. Also, you get the option for zero liability if you have incurred any fraud buys. Well, there are many such advantages that you can avail of. Have a look.

Free of initial deposition

The Legacy credit card is accessed by those individuals who may own a secured credit card. However, there is no requirement to deposit an amount to utilize the card. Now, that is a great utility for individuals who don’t have liquid cash at present. With this card, you stand a chance of setting aside an amount for a secured credit card.

Flexible terms

Cardholders have claimed they could easily increase their credit limit for a good period. The only criterion is to use clear off the dues on time. They have also added that they had incurred a reduction in their APR. You can get all of these benefits only if you show that you are responsible enough to handle these matters.

Online management of Account

Once you have been issued the legacy credit card, you will be able to manage your account online. Have a look at the features included.

  • You can access your statement
  • You can keep a track on the processing of the payment
  • You can resolve disputes if any.
  • You will have access to the Personal Identification Number
  • Easy handling of your profile.

The above-mentioned features will help in processing the transactions and thus save you a lot of time. You don’t have to spend hours talking with the representatives of the customer service. Everything is available online.

How to apply for a legacy visa credit card?

This might be the question revolving in your mind. Well, here is a catch.  You cannot apply for a legacy credit card. It comes with the exclusive feature of restricted availability. To put it simply, to own a legacy credit card you have to wait for the invitation mail from the back itself. You can say this the only thing that you may not like this card.

There may be many such individuals with low credit score, but who wish to issue a legacy credit card. In that case, you have nothing to do, but to count on your luck.

What to do after the mail arrives?

The invitation form will contain some credentials. You must keep a note of them. Find out the Reservation Number, and Access Code. Visit the page of First National Bank and fill in those two requirements and press continue. You can then proceed with the following details and register yourself as a cardholder applicant.

Unlike a secured card, there is no down payment here. The bank offers you a credit line ranging between $250-500. However, you are required to pay a certain sum as an acceptance fee. This acceptance fee will reduce your present credit line. Also, if you can clear off the dues on time, you will be freed from the credit line. Another important thing is the 30-day trial period. If after a month you feel this credit card is not of much help when you can return the card and ask for a refund. You will surely get back the acceptance fee.

Why do you need to pay the acceptance fee?

As mentioned above you can handle your profile online for easy access. Hence, you are liable to pay a sum on your account, before utilizing the same for a purchase. You are charged for your account set up, annual and programme fee. Every year on the same date on which you have opened an account the annual fee will be renewed. Additionally, you may have to pay an insurance coverage fee, whichever you have linked with this card.

Should you go for a Legacy Credit Card?

If you are sure that you can make payments on time, this card is just the right thing for you. It is going to help you in the long run. Have a look at the ways in which this card can help you in various ways.

Fix your low credit

If a credit report is awful, you have the option to counterbalance their effect with a Legacy Visa card for buys and satisfying the dues on schedule. In the event that you lack a good record of loan repayment, you can begin off by utilizing this card. Since banks won’t be eager to offer you a Visa.

Assurance and Insurance

Legacy Visa card provides buy security and travel protection to cardholders. Buy security protects any buy against burglary, misfortune or unplanned harm for a predetermined time span. Travel protection is intended for the individuals who fail to satisfy the card balance in the wake of utilizing it for movement costs.

Online installments:

This bank enables you to cross-check your status and make installments on the web. Online installments offer to maintain a strategic distance from data fraud and late installments because of deferral in installment conveyance via mail.

The yearly expense might be deferred off

At times, the card backer may forgo off the yearly charge when you buy a thing utilizing the Legacy Visa card issued by First National Credit Card. What else do you seek? Also Legacy visa competitors offer better rewards at a lower cost.

If you have low credit, a legacy credit is going to make your life better. Hence, if you get an invitation, do not hesitate to accept it.