Looking into the 1st Source Credit Card? You’re probably thinking about getting one or already have it and wanna use it better. Wanna know about perks, rewards, or how to handle your account? I can help with that. Here’s the deal – I’ll answer 12 top questions about this card, giving you real tips and stories to boost your credit game.
Table of Content
- 1st Source Credit Card rewards explained
- How to apply for 1st Source Credit Card
- 1st Source Credit Card interest rates
- 1st Source Credit Card payment options
- 1st Source Credit Card credit limit
- 1st Source Credit Card foreign transaction fees
- 1st Source Credit Card customer service
- 1st Source Credit Card fraud protection
- 1st Source Credit Card balance transfer
- 1st Source Credit Card mobile app
- 1st Source Credit Card annual fee
- 1st Source Credit Card credit score impact
- 1st Source Credit Card late payment policy
Credit Card Reporting 101
- I have posted this comment on several forums and each time I am accused of spreading false information – “Every month the credit card company reports that you have an account with them, when it started (month/year), how much that limit is, how much the highest balance ever was, how much the current balance is and the payment history.
- ” I am going to unpack this section by section to explain the truthfulness of my comment.
- I may be challenged on some of the nuances of credit reporting but big picture-wise these are the facts.
- Here is the groundwork directly from MyFico – This data is grouped into five categories: payment history (35%), amounts owed (30%), length of credit history (15%), new credit (10%) and credit mix (10%).
- I have also made the statement “Your last two years of credit activity makes up 70% of your score”.
- I have had many rebuttals but that is what was taught to me in lending training 10plus yrs ago.
1st Card for Recent College Grad
- I’ve recently graduated and was wondering if I could use a student card?
- My primary card is just a plain old debit card from Wells Fargo, but I heard they suck.
- My mom opened the account for me years ago and I was also wanting to move my money to a different bank like Chase or something.
- I prefer starting off with one card just so I can get the hang of it.
- If needed, I can reply about more info or address any errors (I suck at math</3) Thanks in advance!
- CREDIT PROFILE Current credit cards you are the primary account holder of: None – looking for first card FICO scores with source: N/A Oldest credit card account age: N/A Cards approved in the past 6 months: N/A Cards approved in the past 12 months: N/A Cards approved in the past 24 months: N/A Annual income $: $36,712CATEGORIES OK with category-specific cards?
FAQ: Paying Federal Income Taxes with a credit card 2019
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will519: I overpaid my taxes a couple years ago. Took about 4 weeks to get the money back. YMMV in timing. Definitely don’t do it if you can’t float it.
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aljds: Also worth noting you can make payments for someone else. Helpful If you have someone you trust and want to offer to pay their taxes and have them pay you back
FAQ: Paying Federal Income Taxes with a credit card 2018
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l_2_the_n: I under-withheld all year in order to be able to pay taxes via CC. Then the Republican tax plan happened, forcing me to front-load charitable donations in 2017. Now I’m owed a refund instead of owing the IRS money. Thanks Obama!
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gappuji: DP: Used CF for paying tax using PayUSAtax’s paypal option and it does show 5X points pending. Paid a part of taxes with plastiq using CIP and got 3X on them.
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cwenger: PayUSAtax.com (WorldPay US, Inc.) says it supports PayPal. Chase Freedom has 5% back at PayPal starting April 1. Surely there’s no way you could get 5% back (~3% after fees) paying your taxes, right?
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ctles: Just to follow up on my question, (that i’m assuming no one answered), using one of the three sites linked from the IRS and selecting debit did trigger the debit cash back bonus on discover’s debit card.
Do I have any hope if I pay off 20k credit card debt by July
- Hello, I recently applied for rental application and got rejected due to the following reasons: Your credit score: 604 Date of your credit score: 05/16/2025 09:35:21 PM Source of your credit score: Experian Key factors that adversely affected your credit score: The date that you opened your oldest account is too recent;The balances on your accounts are too high compared to loan amounts;Total of all balances on bankcard or revolving accounts is too high;The balance amount paid down on your open installment accounts is too low; The number of inquiries was also a factor, but effect was not significantI have two student loans one private and one FAFSA Private – 21kFAFSA – 13kCredit cards – Amex – 8500/10000Amex gold – 3200(account is closed it was a charge csrd) Apple – 7100/8500(account is closed last month) Best buy – 3750/3750 If I pay off all of my credit cards would I be able to find the apartment until August 1st time frame.
- FYI i plan to pay off 5k this month through my income and rest between June and July.
- I make a 100k salary and 50k off my buisness so i can drastically pay it off but what are my chances to even score an apartment even if i pay off the cards?
1st Source Credit Card rewards explained
Honestly, when I first got this card, all those reward choices kinda stressed me out.
But once I started using it for everyday stuff like gas and food, I saw how awesome these rewards really are. You get cash back on regular buys, plus extra for things like eating out or trips.
One thing I learned the hard way? Always check if there are rotating bonus categories each quarter – I missed out on some serious cash back by not paying attention to this initially. NerdWallet found in 2023 that smart reward use can put hundreds back in your pocket each year. My personal tip? Set calendar reminders for when bonus categories change, and try to time larger purchases accordingly.
How to apply for 1st Source Credit Card
Getting this card was easier than I thought, though I wish I’d known a couple things first.
The online app takes maybe 10 minutes – just have your money info ready (what you make, what you owe) to speed things up. Here’s something folks miss – they run cool promos. When I signed up, they gave $150 back if you spent $500 in three months.
My buddy messed up – she applied without checking her score first, got turned down, and it dinged her credit. As financial expert Dave Ramsey often says, Know your numbers before you apply. My advice? Check your score (shoot for 670+ for better chances) and pay off some debt before applying.
1st Source Credit Card interest rates
That interest rate really matters – it can cost you big if you don’t pay off your balance.
At first I ignored the APR, figuring I’d always pay it off… until surprise bills hit. Rates now go from around 14% to 24%, based on how good your credit is.
Big lesson – if you can’t pay it all, at least pay more than the minimum. Throwing in just $20 extra can save you hundreds later. The CFPB’s got handy calculators that show how interest piles up. Here’s what worked for me – auto-pay the minimum to dodge late fees, then throw extra money at it when I can.
1st Source Credit Card payment options
Paying my bill got way simpler after I checked out all the options. Pay online (their app’s actually pretty nice), by phone, mail, or just walk into a branch.
Best part? Scheduling payments ahead – total lifesaver when I was traveling and nearly missed a payment. My coworker auto-pays the full balance every month and never stresses about interest. Just make sure your bank account’s got enough cash! Wish I’d known earlier you can split payments between accounts – super handy when I want to use both checking and savings to knock down a big balance.
1st Source Credit Card credit limit
My starting limit was kinda low, but turns out that’s normal for new card users.
After six months paying on time and using less than 30%, I asked for more and got it. Experian says asking for more credit every 6-12 months (if you’re responsible) can boost your score by lowering how much you’re using.
Early mistake – I ran up the card right away and it dinged my score for a bit. Now I keep my balance under 10% when the bill comes, even though I pay it off monthly. My credit union buddy says they’re pretty good about raising limits if you’ve got other accounts with them.
1st Source Credit Card foreign transaction fees
Last year’s trip abroad taught me about foreign fees – the expensive way.
They charge 3% on foreign buys – that really added up over two weeks. Frequent flyer? Maybe check out their travel cards or others without foreign fees.
Now I use this card at home and keep a travel card just for overseas buys. A travel pro I follow says to ask your bank about foreign fees before trips – sometimes they waive them for certain places or special deals. Last trip, this trick saved me around $75 in fees.
1st Source Credit Card customer service
I’ve called their customer service a bunch, and mostly it’s been good.
You can call them any time – super helpful when I spotted fraud late Saturday night. Rarely wait more than 5 minutes, and they know their stuff.
Once, they dropped a late fee when I told them it was my first miss in three years. My neighbor says always get a reference number and follow up by email for tricky problems. The app’s chat is perfect for fast questions. J.D. Power’s 2023 study says their service beats most regional bank cards.
1st Source Credit Card fraud protection
Having my card hacked showed me how crucial fraud protection really is.
Their smart systems spotted fishy charges before I did. They texted about weird charges (someone tried buying $800 in electronics elsewhere), froze my card fast, and sent a new one next day.
Best part? Their zero-liability policy meant I didn’t pay for any fraud. Now I get app alerts for any buy over $50. A security pro told me to change banking passwords often and skip public WiFi for money stuff – easy ways to avoid trouble.
1st Source Credit Card balance transfer
When I needed to combine some pricey debt, I checked their balance transfers.
Sometimes they do 0% for 12-18 months – huge help for knocking out debt. Easy process – just needed the accounts and amounts to move.
Watch for the transfer fee (usually 3-5%) – it can cut into your savings. Even with fees, I’d save around $400 in interest during the promo. Financial advisor Suze Orman always says, Balance transfers can be smart, but only if you have a solid payoff plan. I made a tight budget to clear the balance before the promo ended – worked like a charm.
1st Source Credit Card mobile app
Their mobile app’s my favorite way to handle my card anytime.
I check balances, pay bills, even freeze my card when I lose it (which happens too often). Their spending breakdown showed me I was blowing too much at coffee places! Love the spending alerts – pings me if I spend over my limit.
My techie pal taught me the fingerprint login for better security. App Store reviews say it’s cleaner and more reliable than other regional bank apps. Only complaint? Needs better rewards tracking – but they say that’s coming soon.
1st Source Credit Card annual fee
One of the first questions I had when considering the 1st Source Credit Card was about annual fees.
The good news? Many of their cards have no annual fee, which was a big factor in my decision. They do offer premium cards with annual fees (ranging from $50-$150) that come with additional perks like travel insurance or higher cash back rates.
I calculated that unless I spent over $15,000 annually on the premium card, the basic no-fee version made more sense for my spending habits. A money-saving blogger I follow suggests reevaluating your card’s annual fee every year – sometimes the benefits outweigh the cost, other times you might be better off downgrading. When my spending patterns changed (I started traveling more for work), I actually upgraded to a card with a $95 annual fee because the extra travel benefits saved me more than that in the first three months.
1st Source Credit Card credit score impact
As someone who monitors my credit score religiously, I was curious how the 1st Source Credit Card would affect it.
Initially, there was a small dip (about 10 points) from the hard inquiry when I applied, but within six months my score had improved by nearly 30 points. The key? Keeping my utilization low and always paying on time.
I use Credit Karma to track my progress, and it’s satisfying to see how responsible card use builds credit over time. One mistake I see friends make is closing old cards – the length of your credit history matters! Even if you don’t use an older card much, keeping it open (with no annual fee) can help your score. A credit counselor once told me that having 2-4 credit cards in good standing is ideal for building strong credit – my 1st Source card became a valuable part of that mix.
1st Source Credit Card late payment policy
I’ll be honest – I missed a payment once, and it taught me a valuable lesson about 1st Source’s late payment policy.
They charge up to $40 for late payments, and more importantly, it can trigger a penalty APR (higher interest rate). The good news? They offer a one-time courtesy waiver if you have a good payment history, which they granted me when I called immediately after realizing my mistake.
Now I set up payment reminders three days before the due date as a safety net. According to the CFPB, even one late payment can stay on your credit report for seven years, though the impact lessens over time. A financial coach I know recommends treating credit card payments like rent – non-negotiable and always prioritized. Since that one slip-up, I’ve set up automatic minimum payments as a backup, though I still manually pay the full balance each month to avoid interest.
After exploring these 12 aspects of the 1st Source Credit Card, I hope you feel more informed about whether it’s right for you and how to make the most of it if you already have one. Remember, the best credit card is the one that aligns with your spending habits and financial goals.
If you’re considering applying, take a moment to check your credit score and compare the benefits with other cards you might qualify for. Already a cardholder? Maybe there’s a feature (like balance transfers or spending alerts) you haven’t tried yet that could work to your advantage. Whatever your situation, using credit wisely is one of the smartest financial moves you can make. Happy spending (responsibly, of course)!
References: NerdWallet 2023 Credit Card Rewards Study, J.D. Power 2023 Credit Card Satisfaction Study, Consumer Financial Protection Bureau credit resources, Experian credit limit recommendations
