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Legacy Visa Credit Card Guide

Allison Martin
Woman holding Legacy Visa credit card

The Legacy Visa credit card, offered by First National Bank and available by invitation only, is designed for individuals with less than perfect credit. Card activity is reported to the three credit reporting agencies, which makes it possible for cardholders to rebuild their credit file when this card is used responsibly.


This credit card comes with purchase protection to cover damages to contents that occur as a result of loss, accidental damages and theft. It also offers zero liability for fraudulent purchases.

No Initial Deposit

Although the Legacy Visa caters to the same group of individuals as secured credit cards, a deposit is not required to access your credit line. This a major benefit for consumers with bad credit since it offers an alternative to those who do not have cash on hand to set aside for a secured credit card account.

Adjustable Terms with Responsible Card Use

Reviewers from Credit Card Forum mentioned the ease of obtaining an increased credit limit from First National Bank within a reasonable period of time due to timely payment history. Reductions to the initially steep annual percentage rate were also made.

Online Account Management

You can manage all account activity online 24/7. Features include:

  • Statement access
  • Payment processing
  • Dispute resolution
  • Personal Identification Number requests
  • Profile management

This facilitates timely payment processing and saves cardholders time that would be otherwise spent on the phone with customer service representatives.


As with any credit card, there are drawbacks that you should consider before committing.

Restricted Availability

In order to apply for a Legacy Visa, you must be invited by mail. This is unfortunate for those who have less than perfect credit and desire to obtain a credit card that does not require a significant initial cash outlay.

Immediate Fees

No initial deposit is required, but the card comes loaded with debt upon activation. In some instances, cardholders opened new accounts with the initial available balance totaling less than 50% of the credit limit, as noted by reviewers from Complaints Board. This was a result of hefty activation fees. Unfortunately, issuing a credit card with a high debt balance and accompanying APR can quickly cause the consumer more damage to their credit file because they may have a difficult time reducing or completely eliminating the initial balance if cash reserves are limited.

Poor Customer Service

Some cardholders experienced lengthy card holds as a result of billing discrepancies. Reviewers from Complaints Board mentioned that customer services representatives were often unwilling to attend to billing issues in a prompt manner.

The phone lines were also very busy and website functionality was often impaired, according to reviewers from Credit Card Forum.

Current Offers

First National Bank offers the following options to consumers, depending on credit rating; be sure to check current rates before responding to an invitation to apply:

APR Fees Grace Period
15.6% Cash Advance-$5
Late Payment-$10
Returned Payment-$0
25 days
29.9% Cash Advance-3% (minimum of $5)
Late Payment-$29
Returned Payment-$29
25 days
24.9% Cash Advance-2%
Late Payment-$25
Returned Payment-$25
25 days
29.9% Cash Advance-3% (minimum of $5)
Late Payment-$29
Returned Payment-$29
25 days
29.9% Cash Advance-2%
Late Payment-$25
Returned Payment-$25
25 days

Is the Legacy Visa Credit Card Right for You?

If you make timely payments and avoid interest, this card can be a good option to start rebuilding your credit history. However, considering the high APR and low credit limit initially offered, other options, both secured and unsecured, may be more desirable for your situation.

How to Apply

If you receive an invitation in the mail, you can apply by completing the online application. The first page of the form will prompt you to enter the reservation number and access code to continue with the process.

Legacy Visa Credit Card Guide