Legacy Credit Card Review

The best credit card hasn’t been invented yet, but we’re still on the lookout! On our journey to find the best deals, lowest interest rates, and most interesting reward systems, we stumbled upon the legacy Credit Card. 

Although it has its drawbacks, it’s one of the most popular credit cards out there that you might want to know more about, especially if you’re striving to boost your credit while making use of the premium treatment that this card offers. So, here is our Legacy Credit Card review. 

Legacy Credit Card Review – In a Nutshell

The legacy credit card is a card designed for top-tier spenders who have been denied other cards for low credit or lack of it, for that matter.

The greatest benefit of this card is the reward system. However, the need to pay more to access this system in addition to the already high fees of the card is an overdrawn move and contradicts the purpose of the reward program.

Overall, it’s a considerably good card to have if you’re looking to build credit and have some money to spare. However, it’s not the type of card to use to pay off daily expenses. 

Key Features:

  • Type: Standard unsecured VISA with a reward system 
  • Credit limit: $350 to $1,500
  • APR: 29.9%
  • Fees: $75 annually
  • Default payment: $25


  • Fast online application and account management 
  • High approval rates even with scores less than 500
  • No employment or credit check
  • Advantageous reward program
  • A payment protection plan to cover you in case of emergencies


  • High annual fees, ARPs, and payments along the way
  • Rewards come at a high price
  • Not the best card to build credit
  • Low credit limit

What Is the Legacy Credit Card?

The Legacy Credit Card is an exclusive card available from the First National Bank for high net-worth customers. If you’re not familiar with the name, the First National Bank is a three-branch, family-owned community bank based in Michigan. 

The bank’s services are mainly used by Michigan residents who want to park their money in a near-home bank. Nevertheless, it’s a well-known bank with 85 years of experience and a high reputation in the field of online banking. 

Being an exclusive card, it’s only accessible for those invited by the bank, meaning that if you have a pre-approval code, you’ve already been pre-selected, pre-assessed, and pre-qualified, so there is no waiting for approval from your side. 

The Legacy Credit Card is an unsecured VISA type of card. That means you can get it without paying a security deposit or putting a valuable asset as collateral on the table. You’re also not required to leave a down payment since it’s not a prepaid card either. 

Cardholders can use the Legacy Credit Card to make purchases from any retailer in the U.S., provided that they accept VISA. They can also get considerable discounts on many purchases and services if they’re signed in to the Premium Membership Program; more on that in a moment.

Legacy Visa Review – In Detail

As you can see, the Legacy Credit Card is a card that strives for the cardholder, not the opposite, but does that mean it holds enough perks to make it worthwhile? Let’s see!


Let’s just say this card’s rent in your wallet is pretty expensive. The Legacy Credit Card comes with annual fees that stretch to $75 and are billed at a rate of $6.25 per month. That’s a whopping fee for a membership that guarantees no more than a standard usage of a VISA.

To sign in to the Premium Membership Program, where all the rewards are, you’ll have to ante up with an additional $4.95 per month, totaling $59.4 yearly. There are also the card’s setup charges that reach up to $200.

One would expect the interest rate would be lower, considering the high annual fees, yet the Legacy Credit Card charges an APR of 29.9%. If you can’t imagine how high this rate is, let us tell you that the average interest rate is 16.12%, meaning that this card rate lies on the higher side of the spectrum. 

Of course, you can get a lower rate if you boast a spectacular credit score, but given that this card is aimed at customers with low scores, most people end up with this extortionate interest rate. This doesn’t really make sense because how are you supposed to build credit if you can’t keep up with such a high-interest rate.

The high APR will also stand as a problem if you’re planning to pay off your debt in monthly installments rather than all at once. For example, if you have $300 in your balance and plan to pay them over 12 months at a rate of $30 per month, you’ll end up paying an extra $60 as interest, which isn’t a small number. 

That’s not to mention the additional fees, including the $25 you pay upon late repayment or returned payment. There’s also a $20 fee if you wish to add an authorized user.

So do you get any introductory offers, APR discounts, or free trials for new cardholders in return? Unfortunately no! However, on the bright side, there are no price hikes or unpleasant surprises along the way. Also, you can expect some cash backs and credit increase if you use the card constantly and pay pack with no delay.

Borrowing Limit

According to your credit score, your credit limit can be anything from $350 to $1500. The higher your creditworthiness, the more you can get. 

For a credit card of this type, this is a constrictive borrowing limit, which is a good and bad thing at the same time. Sure, the low limit will keep you from going overboard with spending and falling back on repayments, especially if you’re trying to boost your credit score. 

However, the number of purchases you can make will be limited, and the effect of that on your credit utilization ratio won’t be in your score’s favor. If you’re not following, let us explain it in a simpler way. 

The credit utilization rate is the amount of money you spend in relation to the amount of credit you have. You want to keep this rate at less than 30% to maintain a good credit score. Now, if you have a limited line of credit, that means even if you spend an amount as low as $200, your credit utilization ratio will increase because your original balance is no more than $350. 


The Legacy Credit Card has convenient payment terms. If your balance is less than $30, the bank requires that you pay in full. However, if it’s more, you’re allowed to:

  • Pay a minimum of $30 each month
  • Pay 4% of your balance each month
  • Pay 1% of the balance in addition to interest and late fees each month

The payment procedures are also versatile. The bank accepts the payments via mail or through your account on the website, depending on whether you choose the “paper statement” or “paperless statement” option. 

Other ways include sending payments via MoneyGram using the code “3888” or Western Union through the code: City/State: FNCC/SD.

Premium Membership Program

Let’s get to what makes this card appealing for outside viewers: the reward system. As we mentioned before, the Legacy Credit Card allows you to join a Premium Program that guarantees you decent discounts on restaurants, travel bookings, car rentals, hotels, and medications. On top of that, you get a 1% cash-back for every purchase you make. 

From an outside view, this is a considerably good deal, especially for cardholders who are always on the go, dine out regularly, and live a high-spending lifestyle. 

However, taking into consideration that you have to pay an extra $4.95 per month to get these privileges, we can’t help but say that the cost of this program outweighs its benefits. 

And even when we compare it to other reward cards which offer 1.5% or higher cash-back at lower prices, the Legacy Credit Card doesn’t stand a chance against them. 

Payment Protection Plan

One of the biggest advantages you get with the Legacy Credit Card is the Payment Protection Plan. To enroll in this program, you have to ante up with an additional 0.89% of your monthly balance. Yet, it’s totally worth it!

The plan basically covers your monthly payments in case of an unexpected event, such as sudden job loss, personal injury, lawsuit, or death of a family member. Instead of having to deal with late payment fees, the bank will cover your payments until you get your finances back on the road to recovery. However, there are rules for that:

  • The bank can pay off your minimum balance up to $5000 per month.
  • Cardholders must be signed into the plan for at least a month to be able to request this benefit.
  • Cardholders can’t file more than one claim every 3 months.

Application Process

The application process is completely hassle-free, and you can do it from the comfort of your home. 

All you have to do is visit the website, give them your reservation code, which you must have in the first place since this is an exclusive card that you can only get with an invitation from the bank. After your code is verified, you can proceed with the online application, and you’re good to go.

Note that there won’t be any application processing period since you already got accepted the moment you received the code.

Online Access

The online banking of the First National Bank is no joke and is one of the merits you get with the Legacy Credit Card. 

Once you file an application and get an account on the website, you can use it to view your balance anytime and anywhere, check your card activity, pay off your balance or set up AutoPay and never worry about forgetting to make your payment on time again.

Fraud Coverage

Last but not least, the Legacy Credit Card offers cardholders the benefit of safety. Suppose you lose your credit card or have it stolen. In this case, all you have to do is call customer service and file a report. The bank protects its members from unauthorized use, so you won’t be charged for any activity on your card afterward.

Not Sure This Is the Card for You? Consider These Alternatives!

The Legacy Credit Card has its pros and cons, but when it comes to the costs, there is no doubt that the high fees can be a turn-off for lots of customers. However, it’s not the end of the world! If you’re looking to build credit, benefit from reward systems and pay less money while you’re at it, here are a couple of alternatives.

Citi Double Cash Card

With minimum charges and absolutely no annual fees for the lifetime of the card, the Citi Double Cash Card is one of the most affordable yet rewarding cards out there. 

Contrary to the Legacy Credit Card, it starts with no APR and starts charging interest after 18 months of the day you get the card. The interest rates range from 13.99% to 23.99%, which are still way less than what the Legacy Credit Card charges. 

The card holds a top-tier reward system that offers discounts on restaurants, car rentals, gas stations, house improvements, and many others. The only area that’s lacking is the travel expenses category. 

Yet the power point of this card is the easy-to-earn cash-back system. With every purchase you make, the card provides you with a 2% reward: 1% when you buy something and another when you pay its money back. 

Discover It Cash-Back Card

Another card with zero annual fees, the Discover It Cash-Back Card, is a great discovery for the avid spenders out there. Similar to the previous choice, the card charges no interest rates for the first 14 months. After that, you get a rate that ranges from 11.99% to 22.99%, depending on your creditworthiness. 

What’s interesting, though, is the reward and cash-back system you get with this card. For every $100 you spend, you get a reward of $1, but that’s not all! If you manage to spend $1500 in quarters in each of the four categories that Discover It assigns, you get a reward of %5 of your balance in addition to the 1% cash-back on each purchase.

Not to mention the sign-up bonus for new cardholders, which matches the amount of cash-back you earn at the end of your first year.

Frequently Asked Questions

Does Legacy Credit Card Give Increases?

There’s nothing in the card’s policies that states that as a fact. However, cardholders do get limit increases when they keep up with their payments on time.

How Do I Cancel My Legacy Credit Card?

The process is pretty easy! You can either call the customer service at 888-883-9824 to notify them of your change of plans or mail the bank at their address. 

What Is the Credit Score Required to Get a Legacy Visa?

The Legacy Credit Card is an invitation-only VISA, so you’re already assessed and approved before the bank extends the invitation. That means the bank has its own criteria, and from what we’ve seen, a high credit score isn’t among them. Many customers have been accepted with less-than-spotless scores, so even if yours is low, you can still get the card.

Can I Receive Paperless Statements Instead of Mail Statements?

Yes! The bank offers this service and without extra charges. All you have to do is log into your account on the bank’s website and choose the “Paperless” option from the “Manage Statement Delivery Method.” 

The Takeaway: Is the Legacy Credit Card Worth it?

The way we see it, the Legacy Credit Card has a lot of merits for high-class customers, but the questionably-high fees seem to take away from its advantages.

The only reason you should opt for this credit card is that you’re already a bank member and want to benefit from the reward program. 

But even in that case, you’ll have to deal with the sky-rocketing charges and interest rates. And honestly, many other cards offer top-notch reward systems without the inexplicable high membership charges and limited credit, so you’re better off with any of them.

On the other hand, if your reason is to boost your credit score, we strongly recommend against this card. Unless you’re loaded, there’s a good chance you wouldn’t be able to keep up with the steep fees. This would eventually throw you in a whirlpool of debt if you failed to repay. Not to mention the blow that your credit score would take.