MidFirst Credit Cards Review
There are three MidFirst credit cards that I would like to review now. There are three Visas that are tailored to cater to users that need lower APRs (1), obtain rewards (6), improve credit (2), or directly build credit from scratch (4). These options satisfy different users with different requirements (3), and creditworthiness (5).
- MidFirst Visa Platinum
- MidFirst Visa Rewards
- MidFirst Visa Secured
Platinum Credit Cards
The greatest advantage of this Platinum card from Visa is that you will enjoy one year with 0% APR after the account is opened. After this year, the APR will be dictated by the creditworthiness of the cardholder and can go from an 11,49% to almost 25%.
This product has a higher APR after a year than other products we evaluated already and is included in the Zero liability program that protects you from unauthorized charges and fraudulent activities.
However, this credit card is not as convenient as another card that we reviewed in a past article. I am talking now about MasterCard Gold from First Choice because in the other case we enjoy an APR less than 10% annually. With this MidFirst Visa, the first year is free so you enjoy one year without any APR so it’s to think about it. After the second year, actually, after twelve billing cycles to be more precise, you may want to consider your options.
I recommend you to evaluate this option. You could try to stay one year in the contract with 0% APR and then request a card with a lower APR because the APR will get higher in the second year. You will keep the MidFirst Visa Platinum that has no annual fee and use frequently the card with the lowest APR.
Credit Cards For Rewards
This bank has other credit cards that we are going to review right now. The next card on our list is the Visa Rewards credit card. So this is a credit card for people who know will perform many qualified purchases and will be subject to earning many points as rewards.
The reward offered is that for each dollar you spend on all the relevant purchases are equivalent for one point without any limitations on the points that you can earn and redeem afterwards.
As in the previous case, the case of the Platinum card, you have 0% APR as well and this is really very convenient because you enjoy also in this case of one year without any kind of APR. After this year that actually is going to be formally twelve billing cycles, the rate of the APR will depend on the creditworthiness of the cardholder. Therefore, it can go between almost 16% up to almost 25%
It pays a bit more APR than the one we previously mentioned which is the Platinum credit card. So you are paying more APR, but on the other hand, you will have a benefit if you perform many qualifying purchases because in this case for each dollar you will earn one point so this is a good advantage of this card.
As with the previous card and as all the Midfirst credit cards except the secure card (where the annual fee is $19), you will have no annual fee so this is for this Visa as well. In case you lose it, you are protected like normally happens with Visa thanks to the Zero liability program so Visa here provides extra safety.
Check the possibility of having both the Rewards cards and the Platinum card. You will be having two credit cards from the same bank that can be here a suitable option if you can take advantage of the Rewards card through eligible purchases.
Visa Secured Credit Card
The third in the list of the MidFirst credit cards is a secured credit card. This is 100% a Visa credit card but secured. Therefore, it is for people who are building up credit and for those who want to establish credit. It is also for people who do not have any credit history, any credit score at all, so they want to gradually build it.
The credit is limited in a range from $300 to up to $5000. In this case, we see that this secured credit card is more convenient than the others we reviewed previously. I refer to the credit card that we discussed in another article: the credit card provided by The Celtic Bank that is the Reflex MasterCard secure card. That card just provided a limit of $500 there. Anyway if you want to build credit, if your goal is solely to build credit it is OK with $500 you can build it anyway.
Nevertheless, in this case, it is better than the Reflex, and also better than the cards from DCU, not only because you have a superior range but because you have a very low annual fee of only $19.00. These nineteen dollars are much less than the hefty annual fee that you have to pay with the MasterCard Reflex secured card.
As this secured card is also a Visa, it can be utilized anywhere as any other Visa card so it can be used in authorized stores and businesses that accept Visa credit cards. And as you know, that is almost all of the stores and businesses.
Of course that in this situation, you have to provide a security deposit of the quantity that will be your credit limit. This deposit is $300 if that is what you are going to spend.
The cardholder of this secured card is also protected by the same Zero Liability for the case of fraudulent charges that you have not authorized.
This secure card has, as usual, a much higher APR than the normal unsecured credit cards. In this case, we are talking about 19.49% APR so a little bit less than 20% APR and as usual it is based on the prime rate so it can go to 25% but the 25% is also the value of the secured credit card of the MasterCard Reflex provided by the Celtic Bank.
We also analyzed the secured credit card of First Choice that in that case was the MasterCard Classic Secured and that one seems as convenient as this one. Therefore if you prefer to use Visa the Midfirst credit cards would be your option and if you prefer MasterCard then the First Choice will be your selection.
Related to this topic, there are some interesting reviews of credit cards that I would like to suggest you read. I have kept the list short: Mid America credit cards, DCU credit cards, Midfirst cards, First Choice credit cards, and the Relax Mastercard.
Furthermore, some pieces of advice: one related to a probable fraud identity, and the discussion about the possibility of having two or more credit cards from the same bank.