Firstcard

Firstcard is a FinTech company that provides college students with a bank account and a credit card, aiding them in building their credit scores. It allows students to open a bank account without a social security number and does not charge any annual fee, late payment, or interest. Additionally, it offers interest (an annual percentage yield) on balances in their bank account and cash back rewards up to 15% at over 29,000 partner merchants around campuses.

The company offers its services under two tiers: Firstcard and Firstcard+, with the latter including credit monitoring and additional cash back reward features.

Key customers and partnerships

The company does not have its own banking license and provides its services in partnership with Regent Bank.

Funding and financials

In September 2023, Firstcard raised USD 4.7 million in seed funding, which saw participation from venture capital firms and angels such as AngelList Early Stage Quant Fund. The funds were used to expand its technology infrastructure and marketing efforts on college campuses, as well as to create new features such as an AI-powered financial advisor, budgeting tools, financial aid and student loan solutions, and educational content to promote financial literacy among students.