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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