First Card Review | The University Investor

When you going to college, you begin to learn real-world responsibilities, like doing your own laundry, preparing meals, and paying the bills. One major change you will face is manage your own financial decisionsAnd it may make sense to go with a financial institution that has the college experience in mind.

Firstcard, a student debit card, aims to help college students navigate their new financial responsibilities with ease. Firstcard promises a host of benefits to simplify your financial life during college.

Let’s explore what Firstcard has to offer you. So you can decide which one is right for your wallet.

What is FirstCard?

Firstcard is a financial technology that provides access to a banking experience designed specifically for college students. Kenji Niwa, a visiting Stanford scholar, founded this startup in 2021. The company works with Lewis & Clark Bank to provide the actual banking services.

College students are Firstcard’s top priority, and the company seems to be putting its money where its mouth is. Firstcard has included several university students in the team, presumably this contribution helps Firstcard to offer what students really want.

What does it offer?

If you’re a college student, the Firstcard debit card might be worth taking a closer look at. This is what Firstcard has to offer.

A focus on the needs of college students

Firstcard is clearly placing an emphasis on creating a banking experience that is easy for college students.

According to Firstcard, its mission is to “help all college students become financially strong so they can achieve their academic and career goals without worrying about their finances. Our hope is to reshape the online banking experience for college students.”

As a college student, this approach is a big problem. While you can find a free student checking account through many banks, most are not designed for a college student’s finances. This is why you’ll probably appreciate the focus on a college lifestyle.

attractive rewards

Firstcard offers up to 15% cash back when you make purchases at select merchants. The network of companies that offer cash back includes many locations on or near campus. However, cash back is also available through many national chains.

This amount of cash back (15%) on purchases is a big win for your budget. Another nice bonus is the chance to have your student discount applied every time you use your Firstcard. You won’t have to search for a student discount, it’s applied automatically.

simple banking app

You can handle all your banking needs directly through the Firstcard app. The comprehensive app gives you the ability to monitor your transactions, rewards, spending statistics, and more.

As you navigate your first banking experience, you’ll appreciate the simplicity of the app. You won’t have to search to manage your funds. Instead, the app makes it easy to manage your funds.

Is there any fee?

Overall, the general lack of fees is a nice Firstcard advantage.

Firstcard doesn’t have many fees attached to it. You won’t find any annual fees, registration fees, overdraft fees, or minimum balance requirements through Firstcard.

However, you may be required to pay an inactivity fee if you do not make any deposits or withdrawals for a period of 15 months.

How do I contact Firstcard?

If you want to contact Firstcard, you can send an email to support@firstcard.app. Although there is only one form of communication available, a relatively wide FAQ Section could help you find the answers you seek.

So far, the company has earned 4.1 out of 5 stars on trusted pilot. However, there are only five reviews for this relatively new company. The app’s reviews are less positive. Firstcard earned 2.6 out of 5 stars on the google play store and 3.9 out of 5 stars in the Apple App Store. Both sites have less than 20 reviewers.

If you’re looking for a debit card that offers rewards for your spending, Firstcard is an option worth considering. However, it’s not the only option for your college banking needs.

Current is a mobile banking app designed for younger users. Although Current is not specifically for college students, you’ll still find a convenient experience with minimal fees. Plus, Current gives you the opportunity to earn 4% APY on balances up to $6,000 within a Savings Pod.

If you prefer to work with a large bank that offers convenient in-person locations, Chase College Checking might be a good option.

You will avoid monthly maintenance fees if you are between the ages of 17 and 24. Although the big bank may have some drawbacks, you probably have an in-person branch to handle your banking needs.

How do I open an account?

The process of working with Firstcard begins by providing your email address. You will also need to create a password. After that, you will provide more personal information about yourself. Be prepared to provide your address and Social Security Number.

It should only take 10 minutes to complete the entire registration process.

Is it safe and secure?

When you make a deposit to Firstcard, you are FDIC insured up to $250,000 through Lewis and Clark Bank. In addition, Firstcard uses industry standard encryption measures to protect your information from falling into the wrong hands.

As you work with Firstcard, you’ll receive notifications about your transactions. If you don’t recognize a transaction, you can block the card at any time.

The Firstcard debit card is an attractive option for college students. It’s always nice when a product is designed specifically with your needs in mind. Plus, the suite of cash back opportunities could be just what you need to stretch your cash a little further.

Overall, Firstcard might be the right choice for some college students. But the lack of a savings account feature or any opportunity to earn interest can be a disappointment for college students who want to put their funds to work.