First Bank of Delaware Credit Card

By: EconomyWatch   Date: 11 October 2009

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First Bank of Delaware credit cards are a good option for people with sub-prime credit history. These credit cards come in three variants and offer different APR and interest policies to match varying requirements. Besides the prepaid credit cards, First Bank of Delaware credit cards are also a good option for people looking to improve their credit history.

Types of First Bank of Delaware Credit Card

There are three kinds of First Bank of Delaware credit cards available for consumers:

·        Continental Finance MasterCard: This is an unsecured credit card that charges a heavy set up fee of $200, besides an annual fee of $50. Once activated, the maintenance fee is also levied and is around $180 annually. The card charges an APR of 19.92% and uses average daily balance to calculate the monthly balances. The grace period is of 25 days and card holders get an initial credit limit of $300 which reduces to $50 after all the deductions (annual fee, set up cost etc) are done. The maximum credit limit is $2,000.   

·        Tribute Gold MasterCard Credit Card: This card offers an initial credit limit of $300 and comes with an annual fee of $150. The monthly fee is $9.95, which adds up to $119.40 annually. Even the APR is high at 24.5%, plus the prime rate. However, there is no one-time application fee and this card has a grace period of 25 days.

·        Imagine Gold MasterCard: This card comes with a condition that one sets up the automatic payment scheme from the checking account. This can be done either electronically or through demand drafts. The card charges an annual fee of $150 and a maintenance fee of $78 annually, which is charged till a balance is carried forward. The APR charged is prime rate plus 11.50%, with a minimum rate of 19.50%.

Critically examined, all three cards are expensive options. However, this is the case with all sub-prime credit cards. They all come with higher interest rates and no security. Thus, if we see First Bank of Delaware credit cards in this light, they seem to be a good option for people with no credit cards.

You can find out more about First Bank of Delaware credit cards at the http://www.fbdel.com/ website. First Bank of Delaware Credit Cards is a brand name of First Bank of Delaware, an Equal Housing Lender and a member of FDIC.


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