THIS PAGE MAY CONTAIN AFFILIATE LINKS. MEANING WE RECEIVE COMMISSIONS FOR PURCHASES MADE THROUGH THOSE LINKS, AT NO COST TO YOU. PLEASE READ OUR DISCLOSURE FOR MORE INFO.
Credit Shout may collect a share of sales or other compensation from the links on this page.
The Verdict: The Northwest First Card Platinum card is designed for young members of the credit union who wish to establish a good credit history. This credit card is offered only to members between the age of 15 and 22 and provides a card with no annual fee and a fixed interest rate of 9.99%. Overall, this card is a great choice because it costs nothing to carry and requires passing a 10-question credit quiz prior to applying, helping young people learn the basics of credit card use before opening an account.
Overview: Northwest Federal Credit Union offers young members a credit card that is designed to help them establish a good credit history early on. The First Card Visa Platinum is available to members aged 15 to 22 and provides a credit limit of $250 or $1,000 with a non-variable rate of 9.99% and no annual fee. This credit card is a great way for young people to learn responsible credit use with a card that costs nothing to carry.
How These Cards Work: The First Card Visa Platinum is accepted worldwide and may be used at ATMs for cash advances. The card has a 25-day grace period on all purchases, allowing the cardholder to avoid interest on purchases by paying the balance in full during this period. Applicants must be a member of the credit union to apply and they must also take a Credit Matters course online. This course is a 10-question course and results are automatically transmitted to the credit union. Applicants under the age of 18 may receive a $250 credit limit but a co-signer is required. For those over 18, a credit limit of $1,000 is available and a co-signer is only needed if the applicant does not have sufficient income.
Travel & Shopping Benefits: This credit card is designed as a basic credit card for young people to establish responsible credit use. The travel and shopping benefits are limited, but include automatic travel accident insurance up to $500,000 and auto rental insurance. There is no liability for fraudulent purchases and cardholders may enroll in the optional Verified by Visa program to set up a password to use online to verify identity.
Fees: There is no annual fee for this credit card. The variable APR is 9.99% and applies to purchases, balance transfers and cash advances. There is no fee for cash advances or balance transfers. A fee of 0.8% to 1% applies to foreign transactions. There is no over limit fee. A fee up to $35 may apply to late payments and returned payments. There is no penalty fee or minimum interest charge.
- No annual fee
- No fee for balance transfers and cash advances
- Helps young people establish credit history
- Credit quiz prior to applying
- Basic travel benefits
- No hidden costs
- Must be a member of Northwest
- Low credit limit