Firstcard Evaluation | The Faculty Investor

While you head to school, you begin to be taught actual world duties, like doing your individual laundry, making meals, and paying for payments. One main change you’ll face is managing your individual monetary selections, and it could make sense to go along with a monetary establishment that has the school expertise in thoughts.

Firstcard, a pupil debit card, goals to assist faculty college students navigate their newfound monetary duties with ease. Firstcard guarantees a slew of advantages to make your monetary life easy throughout faculty. 

Let’s discover what Firstcard has to give you. Then you’ll be able to determine it’s the proper match in your pockets. 

What Is Firstcard?

Firstcard is a fintech that gives entry to a banking expertise particularly designed for college students in faculty. Kenji Niwa, a visiting scholar at Stanford, based this startup in 2021. The corporate works with Lewis & Clark Financial institution to supply the precise banking providers. 

Faculty college students are the highest precedence for Firstcard, and the corporate appears to be placing its cash the place its mouth is. Firstcard has included a number of faculty college students inside the crew, presumably, this enter helps Firstcard ship what college students really need. 

What Does It Provide?

In case you are a school pupil, Firstcard’s debit card is perhaps price a more in-depth look. Right here’s what Firstcard has to supply.

A Focus On Faculty Scholar Wants

Firstcard is clearly placing an emphasis on making a banking expertise that’s simple for school college students. 

Based on Firstcard, its mission is to “assist each faculty pupil turn out to be extra financially empowered to allow them to pursue their tutorial {and professional} targets with out worrying about their funds. Our hope is to reshape the net banking expertise for school college students.”

As a school pupil, this focus is an enormous deal. Whilst you may discover a free checking account for college students by means of many banks, most aren’t designed for the funds of a faculty pupil. Because of this you’ll probably respect the deal with a campus life-style.

Engaging Rewards

Firstcard provides as much as 15% money again if you make purchases from choose companies. The community of companies providing money again contains many on-campus or near-campus institutions. Nevertheless, money again can be obtainable by means of many nationwide chains.

This money again quantity (15%) on purchases is an enormous win in your funds. One other good perk is the flexibility to have your pupil low cost utilized everytime you use your Firstcard. You gained’t should shuffle round for a pupil low cost, it’s utilized mechanically. 

Easy Banking App

You may deal with your entire banking wants instantly by means of the Firstcard app. The excellent app provides you the flexibility to observe your transactions, rewards, spending statistics, and extra. 

As you navigate your first banking expertise, you’ll respect the simplicity of the app. You gained’t should dig round to handle your funds. As an alternative, the app makes it simple to deal with your funds.

Are There Any Charges?

General, the overall lack of charges is a pleasant perk of Firstcard. 

Firstcard doesn’t have a variety of charges connected. You gained’t discover any annual charges, sign-up charges, overdraft charges, or minimal stability necessities by means of Firstcard. 

Nevertheless, you may face an inactivity payment for those who don’t make any deposits or withdrawals for a interval of 15 months.

How Do I Contact Firstcard?

If you wish to get in contact with Firstcard, you’ll be able to electronic mail help@firstcard.app. Though there is just one type of communication obtainable, a comparatively complete FAQ part may assist you to discover the solutions you’re in search of. 

To this point, the corporate has earned 4.1 out of 5 stars on Trustpilot. Nevertheless, there are solely 5 opinions of this comparatively new firm. The app opinions are much less optimistic. Firstcard earned 2.6 out of 5 stars on the Google Play Retailer and three.9 out of 5 stars on the Apple App Retailer. Each websites have fewer than 20 reviewers.

In case you are in search of a debit card that gives rewards in your spending, Firstcard is an possibility price contemplating.  Nevertheless, it’s not the one possibility in your faculty banking wants.

Present is a cellular banking app designed for youthful customers. Though Present isn’t particularly for school college students, you’ll nonetheless discover a handy expertise with minimal charges. Plus, Present provides you the prospect of incomes 4% APY on balances of as much as $6,000 inside a Financial savings Pod. 

In case you desire to work with an enormous financial institution that gives handy in-person areas, the Chase Faculty Checking account is perhaps a very good match. 

You’ll keep away from any month-to-month upkeep charges if you’re between the ages of 17 to 24. Though the large financial institution can have some downsides, you’ll probably have an in-person department to deal with your banking wants. 

How Do I Open An Account?

The method of working with Firstcard begins by offering your electronic mail tackle. You’ll additionally must create a password. After that, you’ll present extra private details about your self. Be ready to supply your tackle and Social Safety Quantity. 

It ought to solely take 10 minutes to finish the whole sign-up course of.

Is It Protected And Safe?

While you make a deposit to Firstcard, it’s FDIC insured as much as $250,000 by means of Lewis and Clark Financial institution. Moreover, Firstcard makes use of industry-standard encryption measures to guard your data from falling into the unsuitable palms. 

As you’re employed with Firstcard, you’ll get notifications about your transactions. In case you don’t acknowledge a transaction, you might have the flexibility to lock the cardboard at any time.

Firstcard‘s debit card is a horny possibility for school college students. It’s all the time good when a product is particularly designed together with your wants in thoughts. Plus, the suite of money again alternatives is perhaps simply what you might want to stretch your {dollars} just a little bit additional. 

General, Firstcard is perhaps the appropriate match for some faculty college students. However the lack of a financial savings account characteristic or any interest-earning alternatives is perhaps a letdown for school college students who need to put their funds to work.