In other words, you’re probably going to carry a balance from month to month. , and some people simply can't afford to lock up that much money in a deposit. All financial products, shopping products and services are presented without warranty. The First PREMIER Credit Card is the result of a partnership with the bank’s separate but related sister organization, PREMIER Bankcard. This content is not provided or commissioned by any issuer. Additional card fee: If you want to add a cardholder to your account, it'll cost you an extra $29 a year. ‎*APP CANNOT BE USED FOR CREDIT CARD INFORMATION. First Premier Bank Credit Card Collection Rude unprofessional sneaky scams Sioux Falls, South Dakota *Consumer Comment: First Premier Bank *Consumer Comment: Just a thought *Consumer Comment: Simple solution here. While not being the worst of these cards the First Premier Bank Classic still asks a lot for what it is, and does not give much in the way of perks and features. There's no security deposit, but with multiple fees and a high interest rate, this card will still cost you plenty. Minimum deposits for secured cards are. First PREMIER Bank (sometimes stylized as 1 st Premier Bank or First Premier Bankcard) is a leading credit card issuer and bank located in South Dakota. Now my available credit was lowered by $14,000. Review & analyze client service requests, identify, document and resolve concerns Knowledge of bank products and services, credits and investments. First PREMIER ® Bank Mastercard ® Credit Card * The First Premier Mastercard is a basic Mastercard with no pre-qualification process and a … Minimum deposits for secured cards are typically $200 to $300, and some people simply can't afford to lock up that much money in a deposit. According to the Federal Reserve, the average APR for all credit cards that … First PREMIER® Bank Credit Card review. ... For individuals who do not have established credit or who have bad credit, the First Premier Bank Secured MasterCard could be a good option. You can securely access your account information whenever and wherever it is convenient for you! Federal law limits how much credit card issuers can charge in fees during the first year an account is open. First PREMIER Bank (sometimes stylized as 1 st Premier Bank or First Premier Bankcard) is a leading credit card issuer and bank located in South Dakota. Julie R. - California. your first year's annual fee is $75, and there are no monthly fees. Add to Wishlist. The First PREMIER® Bank Mastercard Credit Card is a bad deal, even for people with “bad” credit, and it’s immediately obvious. Neither will the card’s 36% regular APR — the highest interest rate on the market, according to our latest Credit Card Landscape Report. Monthly fee: This is charged in addition to the annual fee, and it ranges from $6.25 per month ($75 a year) to $10.40 a month ($124.80 per year). The First PREMIER® Bank Secured Credit Card is a starter card for people with poor credit who want to improve their financial situation — but watch out for the fees. The First PREMIER Bank credit card is designed specifically for those with low credit scores. Pre-qualified offers are not binding. Expect to be on the end of some very extortionate fees when you receive your First Premier card. But it's still terrible. Instead, this is a card to use for a short time to build your credit before moving on to a more traditional credit card that offers rewards, lower fees, a higher credit limit … Credit card reviews and comments are posted by user submission and do not warrant the opinions of Finance Globe. The latest review Additional charges tt without prior notification was posted on Sep 24, 2020. rate of up to hong leong bank saving account minimum balance % p.a. Such a relatively paltry amount, coupled with such burdensome fees, won’t do you much good when it comes to affording emergency medical expenses or car repairs, which might very well be fueling your desire for an unsecured credit line. Depending on your score and the credit limit you’re approved for, the fee can be as high as $95. And this can happen without you even asking for an increase. » MORE: See the best secured credit cards. She has worked for Silicon Valley startups and in the public sector. Compare these deals from our partners to find one that fits your needs. Below are the account fees, rates, costs, limitations, available credit limit and other terms for First PREMIER Bank Credit Card offer. Original review: Feb. 23, 2021. This is not a card that we recommend using. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion® directly. Credit expert, licensed Insurance agent, Real Estate agent, and Co-Founder of Credit Knocks. Our opinions are our own. What’s more, if you keep your account open for longer than a year, you will have to pay $120 to $174 in fees each year, thanks to the combination of an annual fee and a monthly “maintenance” charge. The First Premier Bank Credit Card is a credit builder card that requires no security deposit. The primary advantage of the First Premier credit card is that applicants with poor credit can still get approved. If you know your options and ask the right questions, you can find the best fit for your spending habits and goals. "It's the perfect card to start to rebuild your credit. Lenders protect themselves by charging a higher APR with these types of cards. And, if you get the larger credit limits, you would have to take into consideration that the monthly fees are not waived in the first year. At various points a decade or so ago, First Premier cards under the Aventium and Centennial name were charging rates of 79.9%, 59.9% and 49.9% — more than twice the average for people with bad credit. First Premier offered me a second card! We'll help you find the right card and you can apply online right here. First Premier cards with smaller credit limits don't charge monthly fees in the first year, but they do so afterward. Conditions to be fulfilled if Applying for First Premier Credit Card: To apply for the Credit Card in The First Premier Credit Card you need to fulfill the following requirements: You need to have the $245 for the depositing fee and other formalities. Best Jobs in America 2021 NEW! This card is intended to help rebuild your credit, but it’s a subprime product with relatively unfriendly terms. Pick something else if you don’t want to pay the steep application and annual fees. For example: If you have a $300 credit limit, your first year's annual fee is $75, and there are no monthly fees. Ollo Credit Card. You shouldn’t plan to use this card long term. So your available credit will start out at $225 instead of $300, $300 instead of $400, $375 instead of $500, and so on. Property and Casualty insurance services offered through NerdWallet Insurance Services, Inc.: Licenses, NerdWallet Compare, Inc. NMLS ID# 1617539, NMLS Consumer AccessLicenses and Disclosures, California: California Finance Lender loans arranged pursuant to Department of Financial Protection and Innovation Finance Lenders License #60DBO-74812, First Premier Credit Card Review: Bad Option for Bad Credit, Prevent identity theft, protect your credit, The difference between term and whole life insurance, How medical conditions affect your life insurance rate, Many or all of the products featured here are from our partners who compensate us. They are located in Sioux Falls, South Dakota and are members of … Everyone. One perk is that you’ll get access to your FICO credit score each quarter so you can track your improvement. The First Premier Bank Gold credit card is a credit card that’s offered mainly to people that have bad or no credit. That’s a prerequisite for account opening. You can securely access your account information whenever and wherever it is convenient for you! The First Premier Bank Credit Card is designed for consumers with low credit scores who may not be approved for most other unsecured credit cards. The Citi Premier® Card, from our partner Citi, is the mid-tier credit card that earns points in Citi’s ThankYou Points program. . Fees like those charged on First Premier cards are gone forever. Latest Secured Credit Cards Review. † Advertiser Disclosure: The credit card offers that appear on the website are from credit card companies which Credit.com receives compensation. And in all cases, First Premier fees hit 25% on the nose or just a hair short. This may influence which products we write about and where and how the product appears on a page. I had a card since 2014 to use as my emergency card for school fees and such and just now closed the account. If First Premier ups your limit (and hits you with the fee), it's on you to reject the increase. the highest a "legitimate" lender can charge. The amount of each fee depends on how big of a credit line you get approved for: Program fee: This is a one-time fee charged when you open the account. The credit score limitations aren’t as strict as they are with most other credit cards, so you have a good chance of qualifying even if you have bad credit. The card comes with an initial bonus offer: . This secured card requires a minimum $300 cash deposit that becomes your credit limit. The credit limit on the card varies depending on the credit type. NextAdvisor - First PREMIER® Bank Mastercard® Credit Card Learn more at our partner’s secure site Intro bonus: No current offer• Annual fee: See Issuer Website• Regular APR: See Issuer Website• Recommended credit score: (No Credit History) First PREMIER® Bank Mastercard® Credit Card Learn more at our partner’s secure … Disclaimer: NerdWallet strives to keep its information accurate and up to date. As a Mastercard, this card is accepted at millions of merchants in the United States and around the world. - Nevada. But once you get past that first glance, things get ugly in a hurry. For example, if you get approved for an additional $200, you will be charged a fee of $50. People with bad credit resort to unsecured cards in order to pay for something they can’t afford in cash. The credit limit on the card varies depending on the credit type. Install. In November when Discover did my annual review, they closed my account for inactivity. The First PREMIER® Bank Credit Card is an unsecured credit card — meaning, it does not require a security deposit to access your line of credit. Credit cards are convenient and secure, they help build credit, they make budgeting easier, and they earn rewards. That’s a prerequisite for account opening. Kliment Dukovski. Jobs. It ranges from $55 to $95. If you ever ask for and receive a credit-limit increase after at least 13 months of having an active account, you will be charged a fee equal to 25% of the difference between your old and new limits. You can take advantage of: 24/7 online account access; Automatic payment reminders; Free FICO ® credit score; Paperless statements First PREMIER Bank is one of the lesser-known names in the credit card world and doesn’t offer any particularly flashy customer service perks. Extremely High APR: The First Premier Bank Gold Mastercard has a high APR on purchases. First Premier Bank is great for what it is, which is a credit card to help you establish or re-establish a positive credit rating. First Premier Bank Credit Card Review This is a credit card issued by First Premier Bank. See our best credit cards for bad credit. We believe everyone should be able to make financial decisions with confidence. First Premier credit card is one of the worst cards to have. NerdWallet strives to keep its information accurate and up to date. Ad Disclosure: Certain offers that appear on this site originate from paying advertisers, and this will be noted on an offer’s details page using the designation "Sponsored", where applicable. First PREMIER® Bank Credit Card Review. The problem is that if First Premier approves you for an increase, you'll pay a fee of 25% of the increase. In other words, you can basically think of First Premier as your wallet’s worst fear. And while our site doesn’t feature every company or financial product available on the market, we’re proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward — and free. If you are considering this card, you should be aware that it is not a prepaid card or a debit card. Your total first-year fees are $149.20 — 24.9% of your limit. First PREMIER Bank’s Mobile Banking app allows you to bank on the go. I love the fact that I was able to easily apply. Your total first-year fees are $149.20 — 24.9% of your limit. Elan Financial, Visa®, American Express®, and MasterCard® are not Equal Housing Lenders or Members of the FDIC. your first year's annual fee is $79, and the monthly fees add up to $79.20. At various points a decade or so ago, First Premier cards under the Aventium and Centennial name were charging rates of 79.9%, 59.9% and 49.9% — more than twice the average for people with bad credit. First Premier Bank’s Mastercard Credit Card charges expensive fees and an extremely high APR in exchange for a small line of credit and standard reporting to the credit bureaus. The First PREMIER Bank Mastercard should only be considered by people with severely damaged credit. First Premier Bank Credit Card Account Basics Since this credit card is designed specifically for people with bad credit, the limits aren’t too high, typically ranging from $300 to $1,000. Annual fee: This ranges from $75 to $125 in the first year and $45 to $49 after that. The First Premier Credit Card is an unsecured credit card for people with a poor credit score. By that yardstick, at least, 36% is not so bad. First Premier Bank is no different. First Premier Bank Secured Credit Card Review (2021) By Sa El. So how do we make money? Credit card numbers that start with the Issuer Identification Number (IIN) 514896 are Mastercard credit cards issued by Hong Leong in Malaysia. For example, a $400 balance paid down over 12 months would generate about $83 in interest charges under these conditions. First Premier hits you with three kinds of fees just to have an account. First PREMIER Bank offers credit cards to individuals with less than perfect credit. Unfortunately, doing so will be awfully expensive with the First PREMIER® Bank Mastercard Credit Card, thanks to a 36% APR that is considerably higher than the average rate for secured credit cards (16.63%) and cards for people with fair credit (23.13%), according to WalletHub’s latest Credit Card Landscape Report. And no, you don't have to go into debt, and you don't have to pay interest. First PREMIER Bank’s Mobile Banking app allows you to bank on the go. The same monthly fees are applied if you get a $700 credit limit, and a $5.85 fee per month in the first year, with $8.25 in subsequent years, if you get a $600 limit. Here is a list of, The primary appeal of First Premier cards is that they are "unsecured." This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. No personally i don’t recommend First premier bank because they have a lot of high fees and also because i know that there is better out there. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are WalletHub advertising partners. Liliana G. - Texas. Expert review. While the fee schedule for First Premier cards is complicated, the interest rates are not. However, this does not influence our evaluations. More First Premier Bank Card Complaints & Reviews. When evaluating offers, please review the financial institution’s Terms and Conditions. Contact us to interview one of our experts. She studied applied mathematics and economics at Brown University. I’m having issue with first premiere and I would like to know the proper way of going about filing a law suit against them. That means that, unlike secured credit cards, they don't require an upfront security deposit. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. A credit card is one tool you can use to show you can responsibly manage credit. The whole point of an unsecured credit card for bad credit is to finance emergency expenses. Since this card is for credit building, borrowers are higher risk. The first Premier Bank Credit Card is a legit company but you should read the terms before signing up with them. About First PREMIER Bank. Disclaimer: This content is not provided by First PREMIER® Bank. This review will provide you with with all the details you need to make a good choice. In addition, unlike many other credit card companies, First Premier Bank does not offer a low introductory APR; cardholders get stuck with an extremely steep rate right off the bat. If you’re approved for the First PREMIER® Bank Mastercard Credit Card, one thing will stand between you and account opening: a processing fee between $25 and $95. Note: Our editorial staff maintains strict independence and integrity, so it is important to note that WalletHub’s legal history with First Premier had absolutely no bearing on our review. In our experience, it can be difficult to reach a live human on the other end of the phone. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion® directly. At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products. For people struggling to raise their credit scores, the credit cards offered by First Premier Bank might initially seem attractive. Your web browser (Internet Explorer) is out of date and no longer supported. But be aware of the high APR and the monthly service fee along with the year fee. We’ve talked about bad credit cards before and the First PREMIER Bank Credit Card is the reigning “champion”. You’ll have to pay First Premier $25-$95 for “processing” right off the bat should you, for some reason, decide to apply and ultimately get approved. [ citation needed ] The bank is known for specializing in a wide range of subprime credit cards that are marketed to individuals with low credit scores . First PREMIER Bank credit card activity is reported to the Consumer Reporting Agencies each month. That sky-high rate is actually a step down from what the issuer used to charge. If you want to add a cardholder to your account, it'll cost you an extra $29 a year. Upon opening your account, you will be greeted by another treat: a first-year annual fee as high as $125, which alone would accrue about $26 in interest over a year’s time. PREMIER Credit Card. 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