The Legacy Visa credit card is a type of unsecured credit card that is offered by the First National Bank. This credit card is acceptable in any place where credit cards are widely accepted. Possessing an unsecured credit card means that the individual does not have to fund it in order to be able to use it.
This means that a particular individual who is in possession of a legacy credit card does not need to pay an amount in advance to be in a position to use the credit card. Instead, the individual makes the payment at the end of every month. That is one way of how legacy visas can be useful.
Since it is a Visa card, it provides individuals with the perks to use it on several occasions and various merchandise. This can include shopping or purchasing household items etc. The credit card also provides the Legacy cardholders with a monopoly to use it both within the United States and Abroad, and the payments can be made both Nationally and Internationally.
There are several individuals that wish to own a credit card. As a result, they are allured towards this specific card because it provides them with numerous benefits. Such perks aid consumers in terms of travel expenses and other kinds of services.
Although this credit card offers a number of advantages, it also has some obvious downsides as well. When the drawbacks are accumulated and compared against the benefits that the Legacy Visa credit card has, the general opinion of the public is that they are better without it.
As a result, this Legacy Visa Credit Card review will focus on the advantages of owning a Legacy card. The article will also review the adverse side of owning this particular card. Besides, the article will shed light on consumer’s candid responses and experiences using the Legacy Visa credit card.
Why do people apply for a Legacy Visa Credit Card?
Individuals can get a Legacy Visa Credit card for a number of reasons. Those reasons can be:
Save expenses on travel and entertainment.
They are intrigued by the offer to sign up for the Premium membership. Being a premium member has its own perk, which consists of a discount given on service like travel to different places that incorporates the expense for hotel accommodation and renting a vehicle. This privilege can also be used on entertainment and fine dining that includes food. Certain prescription medicines can also be bought at a discounted price.
Protect oneself from unexpected circumstances
It could happen that someone could find themselves in a position where they are unable to pay for the amount that they owe to the company. Reasons for this can include unemployment, being hospitalized, or other similar unfortunate incidents. On such kinds of occasions, the company acts as the backbone for its customer. The company makes sure the customers do not fall back on their payments. Hence every month, the company pays the card’s minimum amount on behalf of the customer for their expense to a maximum amount of 5000 USD. This process is carried out until the customer is back to normal. Therefore it is advantageous for such individuals to enjoy these privileges by being enrolled in this particular program.
Convenient online legacy visa management
It is quite more accessible for individuals to manage the Visa credit card online. The process to sign up and login into the online account is very simple. After the individuals have signed up for it, they will log in with their login ID and a password for their Legacy Visa account. Individuals can then manage their online accounts according to their preferences. They can choose to change their password as well for security reasons. Individuals can change the alert settings of their accounts. Consumers can also view their account balances and make automatic payments as they desire.
Easiness to qualify
When it comes to getting approval and qualifying for a credit card, many reviewers had to say that they got approved by the company even if they had a poor credit score to as low as 400 as per the FICO scale. This means that individuals who do not have a decent credit score can get approval to have the card. As a result, such an opportunity is a good option for such individuals.
Probability of having a higher legacy visa credit limit.
An individual can have a high credit limit that is directly proportional to their credit score, which shows their creditworthiness. So it can be said that an individual can have a credit limit as far as 1500 USD initially, given that they have a good enough credit score. Having a higher credit limit has its own perks. It allows the consumers to use it for various reasons depending on their preference and need.
Other Reasons For Choosing This Card
- The Legacy Visa has a chip for added protection. This adds an extra layer of protection, and it prevents consumers from identity theft. The chip is added so that it can have information details regarding the actual owner of the card in case it gets lost or stolen. So in this way, the customers could be at ease with stringent protection measures taken by the company for their customers.
- Protection against fraud on lost or stolen cards.
In case a particular cardholder loses their card or gets stolen, they will not be held accountable for any transactions that might have happened during that period in which they did were not in possession of their card. All they would be asked to do is call customer service and pitch them about their card status, and the rest will be handled on its own by the company.
How can someone apply for a Legacy Visa Credit Card?
The signing process is relatively easy and straightforward. And since the Legacy Visa can only be issued through an invitation from the company, an individual cannot get it unless they have received an offer in their email.
Given that the individual has received an offer code in their email, the application process is pretty much straightforward. And this process can be completed in the following steps.
- The first step is to visit the bank’s website. When an individual is on their website, they have to click the green box that says “Accept Online.”
- In the second step, upon checking the green box, the website will reroute the individual to a new page where they would have to enter the offer code that was received in the email. This code is also known as the “reservation number.”
- The system in place will scan the offer code and will grant access to the application page. This is the third step.
- On the application page, the individual is required to fill out all the necessary fields and boxes and then submit the application online. One thing to make sure here is that all the information added in the application is accurate and not fabricated. After the application has been submitted, the bank will notify the individual if they have been granted approval and when they can expect to receive a Legacy Visa Credit card via the mail. The Legacy Visa would be delivered to them through mail on the mailing address provided by the individual when filling out the application. This is the last step.
How can consumers log in to their Legacy Visa Credit Card?
In order to use Internet banking and to be able to use the Legacy Visa online, individuals need to login into their account online. And to do that, they have to follow the below mentioned steps.
- In the first step, a Legacy visa holder needs to visit the company website. When they are on their website, they have to click the orange box that says “Account Login.”
- In the second step, upon checking the orange box, the website will reroute the individual to a card-member services page where they would be asked for their username and password. In case the individual is a first-timer and has not yet made the Legacy Visa online account. There would be an option on the right side of the login section under “Register New User,” in which case the individual would be taken to a sign-up page. He would be required to register the account with the necessary details. After doing that, the user would be in possession of their username and password that they will use to login into the Legacy Visa online account.
- In the third step, after the individual has entered his username and password in the required boxes, they can access their account. Upon doing so, they can view their balance, pay their bills, initiate text alerts, and so on.
Why do people not choose Legacy Visa Credit Cards?
At first sight, it might seem like a good fit for the public who are considering having a credit card that offers promising benefits. Given the several advantages, The company has to offer to its Legacy Visa clients, and individuals get attracted to it.
However, a class of people who have used the services of Legacy Visa has measured its drawbacks with the advantages. They have reached the conclusion that it is not worth it. And there are several reasons to support this statement. The reasons include the following:
- High interest rate (APR).
Customers usually end up paying a higher interest rate at 29.9%, which is high relative to other cards. As a result, the company does not forgive anyone who fails to meet their due payments. However, it is advertised that the Legacy Visa and is meant for individuals with poor credit scores, but in the end, it ends up hurting these same individuals when they do not pay their dues. This means that if an individual who has the financial capacity of paying the minimum amount every month would need to pay a lot more for an extended period of time due to the high APR.
- Annual Fee charged per month.
The Legacy Visa has an annual fee of 75 USD that is billed month wise basis at 6.25 USD from the Legacy Visa cardholders. This indirectly means that the advantages offered by the company are evened up by charging the clients on owning a credit card at 75 USD. If in a particular month, an individual did not use it, but he was still charged for having to keep the card. So this additional fee is an extra burden and expense.
- Some other fees are charged by the company.
The Legacy Visa has some additional fees attached to it that are to be paid by the cardholder. If a cardholder wishes to add another authorized user who could use this card, the company charges a fee of 20 USD. Also, in situations when the cardholder pays late, or there are returned payments, there is a fee of 25 USD to be paid by the cardholder. These disclosure fees leave the consumers unhappy and unsatisfied with the services of the company. So the individual has no choice but to close their account with the company and opt for other cards with other companies.
- One of the benefits of owning this card was that it provided a protection plan for its cardholders.
Although it is a meaningful benefit, it comes at a cost that is to be paid by the cardholder. The cost is that the cardholder has to pay extra to enjoy the perks while the company was paying for their card expense when they were jobless, hospitalized, etc. To be precise, an individual has to pay 4.95 USD per month to avail of those privileges. Hence, the costs outweigh the advantages that the cardholder would receive.
Other Reasons For Not Opting for This Credit Card
- The website of the company does not have much information regarding the policies, particularly the hidden charges, extra fees, higher interest rates, and so on. This is merely due to the fact that the Legacy Visa can only be obtained through an invitation via email, and an individual would need that invitation to apply. So there is no way for a non-card holder to understand all the policies.
- Lower rate of credit. The Legacy Visa has a low borrowing limit. So a credit line can be granted to as low as 300 USD which is directly proportional to the credit score. So it is not really helpful for those individuals that do get accepted to have the Legacy Visa since their credit limit is relatively small. And these same individuals might have to pay more than they borrow due to the high APR rate.
Legacy Visa Credit Card reviews from customers
Cardholders of Legacy Visa have mixed views about their experience with the company. While some are really happy with the services of the company, others are highly dissatisfied. Among those who did not enjoy their experience with the company, many have given their reviews on legacy-visa.consumer.com. On this website, Legacy Visa is rated at 2.0/5.0, which does not show a positive response from the consumers. They share their review and express experience with the company, and they’re dealing with the staff in a candid manner. As a reviewer, these personal felt obliged to do that. Apart from one review, most people reviewed the services in an adverse way. Some of the examples of such reviews are attached below for reference.
As the reviews suggest, the company had dealings with consumers who had both good and bad experiences. While a major customer base felt that they were unfairly treated, some of them did have a good experience.
The reviews are not just consumers’ views but their experience of what they went through. So while the majority of them felt that there are far better other companies that offer a Credit card at lower rates and offer better terms, some class of people has stayed to do business with First National Bank.
Some reviews also suggested that if a particular cardholder is a type of person who would like to utilize Legacy Visa’s premium club membership to an extreme length, then this card is not for them. The reason is that the card is meant for individuals who can easily pay their expenses every month. So if an individual has financial constraints and can only pay a minimum amount, then this card is not meant for them. Hence, if someone is looking for a card that would cover their moderate expenses that could be paid over a period of time at a fair interest rate, then they should look for other credit cards.
To buy or not buy this Credit Card?
Although the rewards program looks attractive, in order to enjoy the privileges of that program, cardholders must have to pay for it. When the cost of enjoying such privileges is weighed against the cost, it is clear that the cardholder is paying more than what he bargained for. It is best to look for other cards since this company is going to earn more than what they can save.
Also, the Legacy Visa gives individuals with a poor credit score a chance to owning a credit card. Hence, if an individual who has a credit score of just 350 can be granted approval. Since the company charges additional fees, it is advisable for individuals to improve their creditworthiness and then claim for a new Legacy Visa. This would grant them better interest rates, reward programs, and policies for yearly fees.
