Credit Card Reviews ~ Bad Credit Credit Cards


First PREMIER Bank MasterCard® Review

The First PREMIER Bank MasterCard®/Visa®, issued by First PREMIER Bank, is a credit card designed for those with less than perfect credit and want to experience the freedom and flexibility associated with having a credit card. The card best feature is that it reports the cardholder's transactions to the four credit bureaus.

Like other cards designed for individual poor credit cards, there are a number of fees associated with the First PREMIER Bank MasterCard. Card holders must pay an account set-up fee of $29 and a program fee of $95. There is also a $48 annual fee and a monthly participation fee of $7.The cardholder can expect a total fee of $256 for the first year alone. Each succeeding year will cost $120. The annual fee, program fee, the first month's participation fee, and account set-up fee will all be added to the first statement.

The card also has a relatively low APR, particularly when compared to similar cards. However, individuals who are taking into account this card should bear in mind the numerous fees that are applied to new accounts. If the fees or the charges are no paid in full, they are counted against the total available credit. Therefore, the cardholder's available credit is limited until these fees are paid.

Although the APR for purchases made with the First PREMIER Bank MasterCard is 9.90%, the cash advances are subject to 19.90% rate. Cardholders that fail to make their payment twice in a row or that fail to make their payment on time two times within a six-month period will see their APR raised to 19.90% for purchases.

The cardholder minimum credit limit is $250 and the maximum is $1,000. Those who exceed to their credit limit must also pay a $29 fee. Late payment also results in a $29 fee.


Cardholder benefit/s:

• Reports to four credit bureaus
• Low APR on All Purchases
• Reports to all Four Major Credit Bureaus Monthly
• Access your Account by Phone 24 Hours a Day
• You may qualify for a MasterCard®
*See website for additional benefits.

Note: We suggest that you carefully read the Terms and Conditions statement that accompanies the credit card application since the information may have changed since the review is written.

Reviewed on December 1, 2006

 

First PREMIER Bank Visa®/MasterCard®

 

 

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