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First PREMIER Bank MasterCard

• Monthly reporting to 4 major credit bureaus.
• Low APR on purchases.
• Quality Customer Service.
• All applications accepted!
• All credit types welcome to apply

Issuer: First PREMIER Bank

APR: N/A

Introductory Period: N/A

APR After Introductory Period:  9.9% if you qualify for the lowest APR

Annual Fee: $48

Credit Line Possible: Up to $5,000 depending on your credit history but you will start out with an initial limit of $250.

Insurance included:  No insurance is included with the First PREMIER Bank G MasterCard

 Financing Configuration – This is determined by multiplying the "Average Daily Balance" for purchases and for cash advances outstanding during the monthly billing cycle by the monthly "Periodic Rate." This equals an annual rate of 19.99%.

Grace Period – If you pay your previous balance in full on or before the due date shown on your previous statement you will have a grace period on purchases of 25 days.

The Best Thing About It – People with less than perfect credit can obtain it and there is monthly reporting to all four credit bureaus.

The Worst Thing About It –This card has many finance charges, hidden fees including account set up fees, and account program fees.

Credit Rating Needed For Acceptance – Bad to Fair.

Who Is It For?

First PREMIER Bank MasterCard®  is suitable for people who have fallen on hard times and don’t mind paying high fees and finance charges in order to make their credit rating better at all four credit agencies.

The Benefits

 

Increase your credit rating:  Sometimes these types of credit cards don’t bother to report your good behavior to the credit bureaus but this particular card reports to all four of the big agencies can really help boost your credit rating.

You could have quite a high credit limit quickly: You will be eligible for consideration of a credit limit increase after 6 months.

The Drawbacks

 

Access to cash advances is very limited: Your initial cash advance line will be 10% of your assigned credit line. Once your account has been open and active for a minimum of 90 days, has two consecutive months of current payment history, is not currently delinquent and has had no return payments for 60 days, your cash advance availability may be increased to 50% of the assigned credit line.

Missing a payment is expensive: If your Account goes past the due date two times in any six-month period or goes past the due date for two consecutive billing cycles the APR for purchases will increase to 19.9%.

There are way too many hidden fees and charges. First PREMIER Bank  MasterCard®  has scores of charges like the Monthly Account Maintenance Fee and the Program Fee that are not fees that are not typically found on credit cards.

Fees To Watch Out For

 

Program Fee:  $95

Complete Terms & Details

Minimum Finance Charge:  There is a minimum of fifty cents per transaction.

Late payment fee:  $29

Over The Limit fee: $29

Cash advance Fee: Greater of $5.00 or 3% of the amount of the cash advance.

Monthly Participation Fee:  7.00 per month

Monthly Account Maintenance Fee: $3 per month on closed accounts with an outstanding balance of $20 or more.

Fees for Transactions in Foreign Currencies:  1% of the transaction amount.

Credit Limit Increase Fee:  You are charged $25 each time your account is eligible and approved for an increase in limit.

Internet Access Fee:  $3.95

Copying fee: $3.00 per item if sent by email.

Return Item Fee Charge: $25.00

Card Replacement Fee:  $25.00 

Account Set Up Fee: $29.00

Additional Card Fee:  $20.00 per card

To Summarize –

First PREMIER Bank MasterCard® is expensive. There is no emergency, accident or  travel insurance and access to cash advances is is very limited. However people with less perfect credit do qualify for it and it may be a good way to increase your credit rating as long as you pay on time.

Intro APR	Intro APR Period	Regular APR	Annual Fee	Balance Transfers	Credit Needed
N/A	N/A	9.9%	$48	N/A	Bad Credit