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Legacy Visa Credit Card Review: Build Your Credit

Written by Mike Pearson
Updated October 10, 2022

In A Nutshell

The Legacy Visa is an unsecured credit card marketed toward people with bad credit. If your credit score is low, it might be worth checking out. However, you should be wary of the Legacy Visa’s fees and high annual percentage rate (APR). It also costs extra to participate in the card’s rewards program, which can make using the card expensive. 

Legacy Visa®

The Legacy Visa is an unsecured credit card marketed toward people with bad credit. If your credit score is low, it might be worth checking out.

Annual Fee: $75
Regular APR: 29.90%
Initial Credit Limit: $350–$1,500

Legacy Visa Video Review

Rather watch a video breakdown instead of reading the article?

Check out my video review of the Legacy Visa below:

What Is The Legacy Visa Card?

Offered by First National Bank, the Legacy Visa credit card is unsecured, which means you don’t have to come up with a deposit in advance to use the card. Because the Legacy card is a Visa, cardholders can use it at most merchants within the U.S. and around the world. 

The Legacy Visa also offers a rewards program, which it calls its “premium club membership.” To become a member, however, you must pay a monthly fee.

On the downside, the Legacy Visa is an invitation-only credit card, which means you must have a pre-approval code to access the card’s application. 

Additionally, the Legacy card’s relatively high APR and a long list of fees are two reasons why individuals with poor credit might want to look elsewhere for a credit card.  

What Credit Score Do You Need?

First National doesn’t specify a specific credit score needed to get an offer for the Legacy Visa. However, online reviewers have stated they received an offer with a score as low as 400 or 500. 

For example, one reviewer at the myFICO forum said they qualified for the card with a $1,500 credit limit with a credit score in the 500s. 

Even if your credit score is lower than the 500s, there’s a chance you might receive a pre-approval offer. Because the Legacy Visa is an invitation-only card, you can’t apply unless First National mails you an offer. 

Application & Approval

The Legacy Visa is invitation-only, so if you received an offer in the mail, you can accept the offer by heading to their website and clicking the green “Accept Online” button and following the prompts on the screen, including entering your access code.

legacy visa

It’s worth noting that applying for any credit card will trigger a hard pull, or hard inquiry, on your credit report. A hard inquiry can knock your credit score down a few points, but your score should recover quickly.

Pros vs. Cons: Is the Legacy Visa Right for You?

If you’re interested in the Legacy Visa, it’s a good idea to take a look at the pros and cons. Like all credit cards, the Legacy card has its share of benefits and downsides.


  • Easy to qualify – Some reviewers say they got approved even with a credit score in the 500s. 
  • Rewards program – Unlike most cards designed for those with bad credit, the Legacy Visa offers a rewards program. 
  • Potential for high credit limit – Depending on your creditworthiness, you could qualify for a credit limit as high as $1,500. 
  • Payment protection plan – With the card’s payment protection plan, you can miss your monthly payment as long as you have a qualifying emergency. The payment protection plan costs 89 cents for every $100 of your monthly balance and maxes out at $5,000. 
  • Online account management – The Legacy Visa offers easy online account management at no extra charge. You can view your statement and sign up for automatic payments.  
  • Cash advances – Use your credit card to withdraw money from an ATM at a 2% fee, up to 50% of your credit limit.


  • Annual fee – The Legacy Visa comes with a $75 annual fee, which is billed monthly. 
  • High APR – Cardholders will pay 29.9% interest, which is high compared to other cards. 
  • Other fees – The Legacy Visa comes with its fair share of fees. There’s a $25 fee for late or returned payments, as well as a $20 fee to add an authorized user.

Legacy Visa Fees

At first glance, the Legacy Visa’s rewards program might make the card look promising. However, it’s important to factor in the cost of the program as well as the card’s other fees. 

At $75 per year, the Legacy card’s annual fee is much higher than you’ll find with other credit cards. Additionally, the rewards program will cost you $4.95 per month, which adds up to nearly $60.

Together, these fees total just under $135 per year. If you don’t see yourself using the rewards feature that often, the Legacy card might not be the best fit for your finances.   

Interest Rates

As with most credit cards, if you miss a payment with your Legacy Visa, you’ll be charged interest.

Here’s a breakdown of the Legacy Visa interest rates.

Regular APR29.9%
Cash Advance APR29.9%
Penalty APRNone
Minimum Interest ChargeNone
Legacy Visa Interest Rates

As for the grace period, Legacy Visa gives you 25 days to pay your bills in full without accruing any interest charges.

The Legacy Visa also requires a minimum payment of $30 or 4% of your balance, whichever is greater, or 1% of the balance plus any interest or late fees. If your balance is less than $30 your minimum payment is the entire balance.  

Keep in mind that you should always aim to pay the entire balance each month. This will stop you from accumulating interest. 

Rewards Program

One of Legacy Visa’s perks is its rewards program. Through the card’s premium club, participating cardholders can get discounts on dining, hotels, entertainment, rental cars, and prescriptions.

However, the rewards program comes at a price. To join the premium club, cardholders must pay a monthly $4.95 fee. If you don’t travel very often, and you don’t fill many prescriptions, the premium club might not be worth the monthly cost. 

Credit Limit

The Legacy Visa offers an initial credit limit will be $350–$1,500.

Also, you can become eligible for a credit line increase in 6 months if you make on-time payments with your card.

One thing to point out: your credit limit is net of your annual fee. So if you have a $500 credit limit with the $75 annual fee, your “true” credit limit will actually be $425.

Credit Reporting

The Legacy Visa reports to all three credit bureaus, which can be great news if you never miss a payment. Making on-time payments is the biggest factor in calculating your credit score.

Cash Advances

With the Legacy Visa, you can get a cash advance of up to 50% of your credit limit, with a cash advance fee of 2%. And the APR for a cash advance is the same as the regular APR, 29.9%.

For the uninitiated, a cash advance is when you use your credit card to withdraw money from an ATM.

Payment Protection Plan

The Legacy Visa also offers a payment protection plan that will post your minimum payment in the event you can’t cover it due to an emergency. The plan costs 89 cents per $100 of your monthly balance, and it only applies in cases involving unemployment, military service, disability, jury duty, hospitalization, or family leave under federal or state law.  

The card issuer will cover your monthly minimum payment up to $5,000. To qualify, you must have been enrolled in the payment protection plan for a minimum of 30 days, and you can only file one claim every 120 days. 

Balance Transfers

The Legacy Visa doesn’t offer any balance transfers, as far as I could tell.

Account Management

Accessing Your Account

You can access your Legacy Visa account by logging in at this link.

Making Payments

You can pay off your Legacy Visa online with your account credentials, or you can make your payment by mail by sending a check to:

First National Credit Card
PO Box 2496
Omaha, NE 68103-2496

Canceling Your Legacy Visa

In most cases, it’s ideal to keep credit cards open even if you don’t plan on using them. This is because the available credit helps your credit utilization, which can raise your credit score.

Because the Legacy Visa has a $75 annual fee, however, it doesn’t really make sense to continue paying a fee for a card you don’t use. If you want to cancel your card, the Legacy Visa’s terms and conditions state that “you may cancel your account at any time by notifying us in writing at the address on your monthly statement and returning all cards issued on your account (cut in half).” 

Alternatives to the Legacy Visa Credit Card

If you have bad credit, you may think that your options for credit cards are limited. While it’s true that you won’t qualify for just any card out there, you don’t have to settle for a card with high fees or a bad interest rate. 

If you want a credit card that lets you rebuild your credit without charging you a bunch of fees, here are three options to consider. 

1. Discover it Secured Credit Card

The Discover it Secured credit card is a secured card, but that’s not a reason to overlook it. With no annual fee, it can be a good deal for people with less than stellar credit. 

To open the card, you must put down a $200 security deposit, which will also serve as your credit limit. The APR is on the high side at 24.49%, but you can avoid interest by paying off your full balance each month. 

Another benefit of the Discover it Secured card is its cash-back rewards program. With the Discover it card, you’ll earn 2% cash back on eligible dining and fuel and 1% on all other purchases.

Even better, Discover will match all your rewards for the first year.

2. Capital One Secured Mastercard

The Capital One Secured Mastercard is another secured credit card with no annual fee. It also gives you flexibility when it comes to your security deposit by letting you choose to put down $49, $99, or $200.    

After five months of responsible use, the Capital One Secured Mastercard will also give you an automatic credit limit increase with no additional security deposit required. The APR for the Capital One Secured Mastercard is 26.99%. 

3. OpenSky Secured Visa Credit Card

The OpenSky Secured Visa credit card has a $35 annual fee, but reviewers say the card’s easy qualification process and no credit check make it a good choice for those looking to boost their credit score. 

The OpenSky card also comes with an interest rate of 18.99%, which is much lower compared to other cards marketed toward those with bad credit. You can also choose a security deposit ranging between $200 and $3,000 depending on your creditworthiness. 

With the possibility of a $3,000 credit limit, the OpenSky card is a rarity among secured credit cards, which typically come with a much lower limit.    


While the Legacy Visa’s rewards program may sound promising, you must pay for the privilege of participating. When you add in the card’s $75 annual fee, it’s clear that the Legacy Visa may cost more than it’s worth.

Fortunately, there are alternatives out there that can help people with lower credit scores rebuild their credit. If you’re in the market for a new credit card, it’s definitely worth shopping around. 


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Mike Pearson

Mike is a recognized credit expert and founder of Credit Takeoff. His credit advice has been featured in Investopedia,, Bankrate, Huffpost, The Simple Dollar, Reader's Digest, LendingTree, and Quickbooks. Read more.