Does First Premier do balance transfers?

This question is about First PREMIER Bank Credit Cards

HECTOR MOLINA, High School Econ Teacher

@hectormolina10/01/19

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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.

People also ask

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

It is a fairly simple process. To make a balance transfer, you will need the account number for the card you’re moving the debt from and the amount to be transferred.

Once you have this, call the customer service number of the card you wish to transfer the balance to, explain that you would like to complete a balance transfer, and provide them with the information you gathered. After that, it is their job to get in touch with your old credit card company.… read full answer

Take into account that most balance transfers are processed between 7 to 10 days, and there's no guarantee yours will be handled in that timeframe. Also, sometimes the issuer will only allow you to transfer part of the balance, so please keep that in mind.

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

If you demonstrate responsible payment behavior, you can request a credit line increase by calling First Premier at 1-800-987-5521 to reach customer service.

You can also do it online, by logging into your account here.

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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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