Does First Premier do balance transfers?

This question is about First PREMIER Bank Credit Cards

HECTOR MOLINA, High School Econ Teacher

@hectormolina 10/01/19 This answer was first published on 10/01/19. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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No, First Premier balance transfers are not allowed. The First Premier Bank Mastercard is this bank’s only credit card offering, and it’s for people with bad credit. Like most unsecured credit cards for bad credit, the First Premier credit card doesn’t allow balance transfers, its limits are low, and its fees are high.

The most expensive First Premier Bank Mastercard annual fee comes in the first year: $75-$125, depending on your credit limit. Every year after that costs $45-$49 in annual fees. The first year comes with no monthly fees, but you’ll pay $5.85-$10.40 per month after that. The card’s 36% APR is the highest rate on the market right now, and you’ll pay a program fee for opening the account.

If you have bad credit and you’re hoping to qualify for a balance transfer credit card, your options will be limited until your credit score improves. Credit card companies don’t want to risk giving a credit line to someone who hasn’t yet proven they can handle it responsibly. Some secured credit cards allow balance transfers, but only up to the amount of your credit limit, which equals the amount of the card’s required deposit. If you have the money to make a deposit on a secured card in the amount of your debt, you should probably pay the debt itself.

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People also ask

How do you transfer a balance from one credit card to another?

How can I get a First Premier Bank credit limit increase?

You can request a First Premier Bank credit limit increase by logging into your First Premier account online and clicking “Credit Limit Increase” on the left side of the page. Then, select your account and click “Request Increase.” You will get a response by mail within 14 days. Another way to request a credit limit increase on your First Premier Bank credit card is by calling First Premier at 1-800-987-5521 to reach customer service.… read full answer

If you have demonstrated responsible payment behavior, they may grant you an increase. If they give you a credit limit increase, however, keep in mind that First Premier will charge you a fee equal to 25% of the credit limit increase. So you won’t even get to enjoy the full increase.

Another thing to keep in mind is that First Premier might give you a credit limit increase without you asking for one. People in online forums have reported that First Premier Bank has increased their credit limit without them requesting it, and they still got charged the 25% fee. So if you have this card, beware – it already charges a lot of fees, and this is just one more.

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How much will my First Premier credit card cash advance limit be?

That depends on the First Premier credit card you have. For unsecured cards, cash advance limits depend on the actual limit they assign to you.

You can see that limit on your statement or find it by calling the number on the back of your card.

If you have a secured card, you can only take out 10% of your initial deposit as a cash advance for the first 90 days. Either way, First Premier Bank cash advances are awfully expensive, so avoid them at any cost.… read full answer

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