What the Schools First Credit Card Is
Schools First Federal Credit Union offers a credit card to its members—people who work in education, attend school, or have family ties to the education sector. The card functions like a standard credit card: you charge purchases, receive a monthly statement, and pay a balance. Schools First sets the interest rate, credit limit, and terms based on your credit history and account standing with the credit union.
Schools First is a credit union, not a bank, which means it is member-owned and typically offers rates and fees structured for its specific membership base. To get this card, you must first become a Schools First member, which requires meeting their membership criteria and opening a deposit account with the credit union.
Key Takeaways
- You must be a Schools First Federal Credit Union member before you can open a credit card account with them.
- Membership requires working in education, attending school, or having an when ready family member who does.
- The card's interest rate, fees, and credit limit depend on your credit score and payment history at the time you open the account.
- Schools First publishes its rates and terms on its website, and you can contact the credit union directly to learn what rate you would receive before formally opening an account.
Who Can Become a Schools First Member
Schools First membership is limited to people in the education field and their families. You can join if you work as a teacher, administrator, counselor, or staff member at a public or private school; work at a school district office; attend a school or university; or are the spouse, parent, or child of someone who meets these criteria.
Some family members of may be able to access employees can also join. Schools First's membership page lists the exact job titles and relationships they accept. If you are unsure whether you meet the criteria, you can contact the credit union directly—they will tell you whether you are may be able to access before you begin the account-opening process.
Once you confirm membership may be able to access, you will need to open a deposit account (a checking or savings account) with Schools First before you can open a credit card. This deposit account becomes your primary relationship with the credit union and is where your credit card payments will be drawn from.
How to Open a Schools First Credit Card Account
Start by opening a deposit account if you do not already have one. You can do this online, by phone, or in person at a Schools First branch. You will need to provide your Social Security number, proof of identity (a driver's license or passport), proof of address (a recent utility bill or lease), and proof of your may be able to access to join (such as a school ID, employment letter, or enrollment verification).
Once your deposit account is open and active, you can request a credit card. Schools First will review your credit report and your account history with the credit union. The credit union will then tell you whether you are approved and what interest rate and credit limit you will receive. This review typically takes a few business days.
If you are approved, your card will be mailed to the address on file. Most credit cards arrive within 7 to 10 business days. When it arrives, you will need to set up it before you can use it. Schools First provides set up instructions with the card—usually a phone number to call or a link on their website.
Interest Rates, Fees, and Terms
Schools First credit cards carry an interest rate (called the Annual Percentage Rate, or APR) that varies based on your creditworthiness. The credit union publishes a range of rates on its website, but your specific rate depends on your credit score and payment history. You can ask Schools First what rate range you might receive before you formally open the account.
Like most credit cards, Schools First cards may charge an annual fee, late fees, and cash advance fees. Some Schools First cards have no annual fee, while others do—this varies by card type. You can find the specific fees for the card you are considering on Schools First's website or by calling the credit union directly.
Schools First also sets a grace period, which is the number of days you have to pay your balance before interest is charged on new purchases. Most credit cards offer a grace period of 21 to 25 days. Schools First's terms will specify this on your account agreement.
Using Your Card and Making Payments
Once your card is activated, you can use it anywhere Visa or Mastercard is accepted (depending on which network your Schools First card uses). You will receive a monthly statement showing all your charges, the minimum payment due, and the due date.
You can pay your balance in several ways: online through Schools First's website or mobile app, by phone, by mail, or in person at a branch. Most members set up automatic payments so the full balance or a set amount is paid on the same day each month. This reduces the risk of missing a payment and incurring a late fee.
If you carry a balance from month to month (meaning you do not pay the full amount due), interest will be charged on that balance at your card's APR. The longer you carry a balance, the more interest you will pay. Paying the full balance each month avoids interest charges entirely.
Comparing Schools First to Other Credit Cards
Schools First cards are designed for members of the education community, so they may offer rates or benefits tailored to that group. However, you should compare the specific card's APR, annual fee, and rewards (if any) to cards from other issuers before deciding.
If you do not meet Schools First's membership criteria, you cannot open this card. In that case, you would need to look at credit cards from banks or other credit unions that do not have membership restrictions. Many major issuers offer cards with no annual fee and competitive rates to people with good credit.
If you are a Schools First member, the main advantage is that you are banking with a credit union that understands the education sector. Credit unions often offer personalized service and may be more flexible on fees or rates for members in good standing. The trade-off is that you must maintain a deposit account with Schools First and meet their membership rules.
What Happens If You Miss a Payment
If your payment is late, Schools First will charge a late fee (the amount varies by card terms) and may report the late payment to credit bureaus. A late payment can lower your credit score and make it harder to borrow money in the future.
If you are struggling to make a payment, contact Schools First as soon as possible. Credit unions sometimes work with members to set up a payment plan or temporarily adjust terms. Calling before you miss a payment is much better than calling after, because it shows the credit union you are taking the situation seriously.
If you fall significantly behind (typically 30 days or more), Schools First may freeze your account or close the card. This will damage your credit score and may affect your ability to borrow from Schools First or other lenders for years.
Frequently Asked Questions
Do I need to work at a school to join Schools First?
No. You can join if you work in education, attend school, or have an when ready family member who does. Spouses, parents, and children of may be able to access members can also join. Check Schools First's membership page or call them to confirm your specific situation.
Can I get a Schools First credit card without opening a deposit account?
No. You must open a checking or savings account with Schools First first. This account is required for membership and will be linked to your credit card for payments and account management.
What is the interest rate on a Schools First credit card?
The rate varies based on your credit score and payment history. Schools First publishes a range of rates on its website. You can call the credit union to learn what rate range you might receive before you open an account, based on your credit profile.
Does the Schools First credit card have an annual fee?
Some Schools First cards have no annual fee, while others do. The fee depends on which card you choose. Check the specific card's terms on Schools First's website or ask the credit union directly before you open the account.
How do I set up my Schools First credit card when it arrives?
Schools First will include set up instructions with your card. Usually you can set up online through their website or mobile app, or by calling the number on the back of the card. You cannot use the card until it is activated.