The First PREMIER® Bank Credit Card‘s annual and monthly fees depends on your credit limit. You don't need perfect credit for a First PREMIER® Bank Secured Credit Card Opportunity to build your credit card limit over time by adding funds to your Security Deposit. This is not a card that we recommend using. So here's my situation, a First Premier credit card was opened around november of 2015 with a limit of $700 or so. With MoneyGram, Western Union or in over 100,000 locations nationwide. First Premier Bank has an average consumer rating of 2 stars from 97 reviews. There are a number of factors that this issuer may consider when making decisions for approval. First PREMIER Bank Secured Card’s Fees to Watch Out For . Long story short, I owe money on the account to the tune of $771, the payments weren't made since around Feb of 2016 this year and my TransUnion credit report indicates I the account has been charged off. First Premier Bank reviews first appeared on Complaints Board on Aug 7, 2006. If you’re issued a $300 credit limit from First Premier, that means you should keep your monthly balances below $90 to maintain an ideal utilization rate — and that’s including any fees deducted from your limit. You’ll pay a one-time program fee to open the account, which most card issuers don’t charge. You can pay your First Premier Secured card the following ways: By phone at 800-315-6350. Then you’ll pay an annual fee and monthly fees that depend on your initial credit limit: If you’ve demonstrated responsible payment behavior, most issuers will do this for free. But I also have heard stories of not getting a card with this company, too (but I had only heard that after I received this card). Lenders protect themselves by charging a higher APR with these types of cards. Always paid on time but their customer service and website sucks. About First PREMIER Bank. A secured card’s credit limit equals (with rare exception) the amount you deposit. Got a premier bank card secured credit card with a $300 limit. What to watch out for. The First PREMIER Bank Credit Card has an extremely high APR and huge fees. However, due to the card’s numerous fees and extremely high interest rates, we think it makes more sense to look at alternative credit card options, such as the Discover it® Secured Credit Card. We cancelled this card a few days ago and they informed us that they will not return the $300 to us because it is a regular credit card. As with most cards for those with bad credit, there are fees involved. I’ve been making phone calls to First PREMIER Bank trying to confirm the interest rate for the First PREMIER Bank Secured Credit Card. First Premier's Platinum credit card comes with a 36% interest rate and fees that could easily add up to more than $400 a year. : Yes Review: Thought I was getting the usual $300 credit limit preapproval but to my surprise it said $700 so I thought maybe first premier offered regular credit cards but alas the same ole fees applied, still I thought $700 is quite high for them isn't it? Other Basics: This card contains the brand of Mastercard, where acceptance is global. The First Premier Bank Credit Card doesn't charge a security deposit, but with multiple fees and a high interest rate, it will still cost you plenty. First PREMIER® Bank Gold Credit Card. 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. 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. First Premier Bank, headquartered in Sioux Falls, South Dakota, is the 13th largest issuer of MasterCard brand credit cards in the United States.The bank is known for specializing in a wide range of subprime credit cards that are marketed to individuals with low credit scores. {2} When you overdraw your checking account, advances will be made in $300 increments. But expect to pay a: One time program fee payment from $25 to $95. I applied and received the card and received a credit limit of $300 minus fees which left me $201 of positive credit. But First Premier throws into an extra trouble: The bank can increase your credit limit after your account has been open for 13 months – but it will charge you 25% of the increase when approved. The bank, with its headquarters in Sioux City, SD, is the 13 th largest issuer of Mastercard credit cards in the United States.. 1 st PREMIER Bank Products and Services. As of December 2010, Premier Bank was reportedly offering a credit card with a 79.9% interest rate and a $300 limit. This card from First Premier Bank has very few benefits indeed, as is the case with most cards designed to build credit. $700: $55: $79 first year, then $49 ... approved for a credit limit increase. Build credit with First PREMIER* Choose which account management options are right for you. High APR. If you’re within 300–579 for FICO or 300–649 for VantageScore, you’re considered to have bad or poor credit. The bank may set an initial credit limit based on … Complex fee structure. High credit limit increase fee: One of the ways to boost your credit score is by getting a higher credit limit. You don't need perfect credit for a First PREMIER® Bank Secured Credit Card Opportunity to build your credit card limit over time by adding funds to your Security Deposit. Reports to consumer reporting agencies help you monitor financial progress. Fill out an application and know in 60 seconds if you're approved! The latest complaint rip off/ fees attached caused my balance to go over the limit was resolved on Oct 09, 2012. Via mail to: First PREMIER Bank, PO Box 5529, Sioux Falls SD 57117-5529 (allow 5-7 business days for delivery) In contrast, with First PREMIER Bank, you’ll pay a fee of 25% of the credit limit increase. - When you apply for the First Premier Bank Card, your credit limit is $300. A $12 Overdraft Protection Fee will be assessed to your checking account for each automatic transfer from a First PREMIER Bank line of credit to cover an overdraft. {1} The Annual Percentage Rate may change. Your credit card issuer may choose to suspend or cancel your card if you miss payments. Make your payments on time each month, and keep your balance low relative to the credit limit, for positive marks on your credit report. The First PREMIER® Bank Classic Credit Card is designed for those with less than perfect credit. $700: $55 (one-time fee) $79 your first year, $49 after that ... except the First Premier Bank Gold Mastercard has a credit limit increase fee. ... First Premier Bank… The latest review Unauthorized charge to my card... was posted on Mar 4, 2021. Unfortunately, this doesn’t mean you’re guaranteed to be approved when you apply, even if your credit score is higher than that of the typical applicant. Make your payments on time each month, and keep your balance low relative to the credit limit, for positive marks on your credit report. By bank wire. Cancel By Phone: Call First Premier One ® at 1-800-987-5521 to speak to a rep and tell them you want to cancel your First Premier ® secured credit card. First Premier Bank Credit Card Cons 1. This credit card reports to all three credit bureaus, so with regular, on-time payments you could improve your credit. Since this card is for credit building, borrowers are higher risk. Your First PREMIER® Bank credit card is issued seven to ten days before your old card expires. First, there is a security deposit of $95.00 which is refundable. The First PREMIER Bank Credit Card is not hard to qualify for: It’s designed for people with poor credit. First Premier Bank lets you cancel your credit card at any time by calling its customer service line. First PREMIER also charges fees to copy your statement ($3 per copy) and to deliver a replacement card ($35). Build your credit. For example, if you get a credit limit increase of $ 200, you’ll have to pay a $ 50 fee. We review the pros and cons of the First PREMIER Bank Mastercard to help you decide if it’s the best option for you. In 2007, the bank settled a case with the New York Attorney General who claimed the bank used deceptive practices to market its credit cards. The First Premier Bank credit card has an APR of 36%. I just got a Discover It with a $3,000 limit and 0% APR until March 2018. Let's see. Once open, you will have the opportunity to build your credit limit … First Premier Bank is no different. While the card’s credit limit is strict, and its APR high, these factors are an effective way to budget wisely and keep balances low – thereby showing financial responsibility and improving credit standing. You don't need perfect credit for a First PREMIER® Bank Secured Credit Card; If approved, fund your Security Deposit to open your account. The First PREMIER Bank credit card is designed specifically for those with low credit scores. But I got an email a few days ago from a reader, Daniel, who says he got a letter stating that the APR is now 36 percent, effective October 1, 2015. If you close your card account, you will receive your security deposit minus any balance that is on the card. Through the PREMIER Credit Card mobile app for iOS and Android. Currently, the Bank of America® Cash Rewards Secured credit card offers the highest maximum credit limit, $4,900, although the limit can be as small as $300. Try to catch up on late payments to prevent suspension as well as late charges and damage to your credit. The First PREMIER® Bank Credit Card can be a worthwhile acquisition for customers aiming to fortify their credit scores. Aside from its OK interest rate, the First PREMIER Bank Secured Card comes with some steep fees: a $50 annual fee, a $29 authorized user fee, and the 25% credit limit increase fee. How To Cancel Your First Premier® Credit Card? Online, the terms show a 19.9 percent APR. Title: $700 Credit Limit Date Reviewed: 2011-03-31 17:39:26 | Recommended? On this site and others FPB (First Premier Bank) is one of the CC suggested. The bank paid $4.5 million as part of the deal. 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