Firstcard Secured Credit Builder Card review: An accessible card that earns rewards

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If you're looking to build or rebuild your credit score and have struggled to get approved for traditional credit cards, the Firstcard® Secured Credit Builder Card could be worth considering. Unlike many secured cards, it doesn't require a minimum deposit, though it does charge an annual fee based on the membership plan you choose. Each plan offers a tiered mix of benefits, plus an Annual Percentage Yield (APY) on Firstcard deposits.

While the rewards and features are fairly basic, the card stands out for its easy approval process and accessibility — it doesn't require a Social Security Number (SSN) or an Individual Taxpayer Identification Number (ITIN), making it a great option for international students, new immigrants and others with limited credit history. CNBC Select reviews the details of the Firstcard® Secured Credit Builder Card to help you decide if it's right for you.

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The Firstcard Secured Credit Builder Card does not have a welcome bonus.

The main draw of the Firstcard Secured Credit Builder Card is that it's easy to qualify for and doesn't require a credit check or SSN. The main requirements are that you're at least 18 years old, are a U.S. resident and have a government-issued ID.

Additional benefits vary based on the membership plan you select. For instance, Firstcard+ and Firstcard Premium offer more perks, such as an in-depth credit report, while the Firstcard Standard plan lacks this feature. Each plan also earns a different APY on your deposits, with higher-tier plans offering better rates.

Regardless of the plan, all cardholders enjoy key features like:

• Credit monitoring: Track your progress as you build your credit score.
• Mastercard Zero Liability Protection: You won't be held liable for unauthorized transactions if your card is lost or stolen.
• Credit reporting: Your payment activity is reported to the three major credit bureaus (Equifax, Experian, and TransUnion), helping you improve your credit with responsible credit behavior.

While credit reporting means consistent, on-time payments will positively influence your credit score, it's important to remember that missed or late payments can hurt your score. It's also worth noting that certain features, like earning an APY and credit monitoring, may require an SSN or ITIN.

Unlike many secured cards, the Firstcard Secured Credit Builder Card offers multiple ways to earn rewards on your purchases:

• Up to 15% cash back at 29,000 partner merchants
• Up to 10% random cashback on qualifying purchases after spinning a wheel in the Firstcard app
• Unlimited 0.10%, 0.50% or 1% cash back on all purchases depending on your Firstcard plan

While the bonus rewards add a fun and potentially lucrative element, it's important to note that only one of those cashback rates is guaranteed. The 15% cashback is limited to specific merchants, and the bonus spin rewards are luck-based and may not always result in additional cashback. The guaranteed cashback varies by your Firstcard plan type and applies on top of the other cashback opportunities.

You can earn a maximum of $250 in cashback per day, and all cashback earned is applied directly to your Firstcard account, helping you offset your spending or grow your balance.

The Firstcard Secured Credit Builder Card requires a paid membership plan:

• Firstcard Standard: $4.99/month or $48/year
• Firstcard+: $8.99/month or $84/year
• Firstcard Premium: $12.99/month or $120/year

Beyond the membership plan, the card keeps other fees to a minimum. Since the card operates based on your deposits, there are no late, penalty or APR fees, but there is a $2.50 fee for ATM withdrawals. Depending on your membership plan, there's also an up to 3% foreign transaction fee, but it's waived for Firstcard Premium members.

Firstcard Secured Credit Builder Card with Cashback vs. Discover it® Secured Credit Card

The Discover it® Secured Credit Card has no annual fee and a more straightforward rewards structure than the FirstCard. The Discover it Secured Credit Card requires a security deposit of at least $200, reports payment activity to all three major credit bureaus and even provides a welcome bonus for new cardholders.

One potential drawback of the Discover it Secured Credit Card is that it requires an SSN to verify your identification, which may impact your approval. The Discover it Secured Credit Card has basic benefits like $0 fraud liability and credit score alerts, plus a path toward an unsecured credit card after just seven months.

If you have an SSN and want to work on building your credit while earning rewards on the side, the Discover it Secured Credit Card could be a great choice, but if you're hesitant about your approval, the Firstcard Secured Credit Builder Card may be a better fit.

Learn more: Discover it® Secured Credit Card

Firstcard Secured Credit Builder Card vs. Capital One Platinum Secured Credit Card

The Capital One Platinum Secured Credit Card is a streamlined secured card with a low deposit requirement of $49, $99 or $200, depending on your creditworthiness. It has minimal fees, including no annual fee, and offers a clear path to upgrading to an unsecured card.

Unlike the Firstcard, the Capital One Platinum Secured offers no rewards. Capital One also requires a credit check for approval, which could be a deterrent for some people.

If you're not focused on rewards and are just looking for a reliable credit builder card, the Capital One Platinum Secured Credit Card could be a strong choice. With no annual fee and a low deposit requirement, you can improve your credit score while working towards an unsecured card. However, if you're looking for a secured card with rewards and easier approval, and don't mind paying an annual fee, the Firstcard Secured Credit Builder Card may better suit your needs.

Learn more: Capital One Platinum Secured Credit Card

The Firstcard Secured Credit Builder Card could be a good option if you're looking to build or rebuild your credit, particularly if you don't have an SSN. It has an easy application process with no credit check or hard inquiry, and it reports your payment activity to all three major credit bureaus.

However, it's important to weigh the drawbacks, including the membership fees, no path to an unsecured card and a somewhat limited rewards program. If you prefer a no-annual-fee card or one with upgrade potential, consider alternatives like the Discover it® Secured Credit Card or Capital One Platinum Secured Credit Card.

At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every credit card review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of credit card products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best credit cards.

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For rates and fees of the Discover it® Secured Credit Card, click here.