First Digital Nextgen Mastercard – How to Apply
Looking to rebuild credit without a security deposit? The First Digital NextGen Mastercard may be a smart pick.
With an easy approval process, no need for upfront collateral, and consistent reporting to all three major credit bureaus, it serves as a credit-building tool for those with poor or limited credit.
However, it’s important to understand its fees and rates to determine whether it fits your current financial goals.
First Digital Nextgen Mastercard
No security deposit needed Steep APRHow does the First Digital NextGen Mastercard work?
The First Digital NextGen Mastercard is an unsecured credit card designed specifically for consumers who want to rebuild or establish their credit.
Because it’s unsecured, it doesn’t require a security deposit, which makes it different from most credit-building cards.
The card is relatively easy to get approved for, even with a poor credit score or limited credit history.
Once approved, you typically start with a $300 credit limit. Your payment behavior is reported to Equifax, Experian, and TransUnion, which can help you improve your credit score over time—as long as you make on-time payments and manage your balance responsibly.
However, this convenience comes with a price. The card carries a high APR and several fees that can reduce the overall value if not used carefully.
Main benefits of First Digital NextGen Mastercard
One of the biggest advantages of the First Digital NextGen Mastercard is that it does not require a security deposit.
This can be very appealing for users who may not have a few hundred dollars available to tie up in a secured account.
Additionally, the application process is fast and straightforward, often providing a decision within seconds.
Once approved, your card is typically shipped out quickly, so you can start using it almost immediately.
Another highlight is the regular reporting to all three major credit bureaus. For users focused on rebuilding credit, this feature ensures that your positive financial behavior can translate into real progress on your credit score.
The card also offers some fraud protection features and 24/7 online account access, helping users manage their credit activity with greater ease.
You will be redirected
Cons of First Digital NextGen Mastercard
Despite its accessibility, the First Digital NextGen Mastercard has a few serious drawbacks that are worth noting.
First, the cost of holding the card is high. There’s a $95 one-time program fee just for opening the account.
After that, you’ll pay a $75 annual fee in the first year, followed by $48 annually. On top of that, there’s a monthly service fee that begins in the second year, which can total nearly $100 per year.
The interest rate is another point of concern. With a variable APR around 35.99%, carrying a balance on this card can quickly become expensive.
There are also no rewards or cash back programs, meaning you won’t earn anything on your purchases.
Additionally, the initial credit limit is relatively low—typically $300—and many users report that the fees eat into their available credit almost immediately after account opening.
This card also does not offer a promotional APR period or balance transfer features, which limits its appeal to users looking for financial flexibility.
APR and Fees
Here’s a summary of the key rates and fees associated with the First Digital NextGen Mastercard:
- Annual Fee: $75 for the first year; $48 annually thereafter
- One-Time Program Fee: $95
- Monthly Servicing Fee: $0 first year; $8.25/month ($99 annually) after
- Purchase APR: Variable 35.99%
- Late Payment Fee: Up to $41
- Returned Payment Fee: Up to $41
- Foreign Transaction Fee: None
As you can see, the total cost of owning the card can exceed $200 in the first year alone—without even using it to make a purchase.
How to apply for the First Digital NextGen Mastercard
Applying for the card is simple and can be done online. Just visit the official website, click on “Apply Now,” and fill out the application form with your personal and financial details.
To be eligible, you typically need to:
- Be at least 18 years old
- Have a valid Social Security number
- Provide proof of income
- Not have an active bankruptcy
Once you submit the application, you may receive a decision within a few minutes. If approved, you’ll be required to pay the one-time program fee before the card is mailed to you.
