First Digital Mastercard (issued by Synovus Bank)

The First Digital Mastercard is an unsecured credit card issued by Synovus Bank and targeted at consumers with poor credit who are looking to build or rebuild their credit profile without needing to provide a security deposit. Synovus Bank, headquartered in Columbus, Georgia, is the issuing bank, while the card program is administered and serviced separately.

Because this card targets higher-risk borrowers, it carries costs that are significantly higher than those on cards available to consumers with good or excellent credit. Annual fees apply, and the annual percentage rate is substantially above average. Some versions of the card may charge an initial program fee that reduces the available credit from the stated limit at account opening.

Synovus Bank reports account activity to the major credit bureaus, so making on-time payments and keeping your balance low relative to your credit limit can contribute to building your credit profile over time. The card is accepted wherever Mastercard is taken.

Before applying, read the full cardholder agreement and all fee disclosures. Calculate the total annual fees relative to the credit limit offered to understand the true cost of holding the card. Compare this against secured credit card options from credit unions and community banks. Secured cards require a cash deposit but typically have lower ongoing fees and represent a more cost-effective way to build credit for many consumers.

If you do open this account, use it sparingly, pay on time every month, and aim to pay the full balance each month to avoid interest at the elevated APR. Look to transition to a card with better terms as your credit score improves over time. Synovus Bank is FDIC-insured.