Salt Lake City-based First Electronic Bank has established partnerships with various financial technology companies such as Cardless, Concora, and Imprint to offer a diverse range of credit cards. Their portfolio includes a credit-building card, store cards, and co-branded travel cards.
The credit-building card from First Electronic Bank comes with high fees, while the co-branded cards may be more suitable for those loyal to specific brands. It’s essential to consider your needs and preferences when choosing among their credit card options.
First Electronic Bank offers the Destiny Mastercard®, serviced by Concora, as an unsecured credit card designed for individuals looking to build or repair their credit history. However, this card comes with a steep cost, including an annual fee of $175 for the first year and $49 thereafter, along with a $12.50 monthly fee after the initial year.
For travel enthusiasts, First Electronic Bank provides options like the Turkish Airlines Miles&Smiles Premier Visa Signature card, in collaboration with Imprint. This card offers rewards for Turkish Airlines purchases, dining, groceries, entertainment, and lodging, but lacks additional travel perks like airport lounge access.
Additionally, First Electronic Bank partners with Cardless to offer co-branded airline cards for international carriers, catering to a specific audience of loyal travelers. They also offer store cards, including the Simon American Express Card from Cardless, which provides cash back rewards at Simon Centers.
If you’re considering a First Electronic Bank credit card, it’s important to weigh the benefits of brand loyalty against more general rewards cards. While the Destiny Mastercard® can help individuals with limited credit history access credit, there are alternative cards with lower fees available for those with poor credit.
Ultimately, the decision to choose a First Electronic Bank credit card depends on your financial goals, spending habits, and loyalty to specific brands. Whether you’re focused on building credit, earning travel rewards, or maximizing cash back, there are various options to explore within their credit card portfolio.