What kind of credit card is Premier? This question is about First Premier Bank

What kind of credit card is Premier?

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This question is about First Premier Bank

Bianca Smith, WalletHub Credit Cards Analyst

@bianca_stoian • 02/08/22 This answer was first published on 02/08/22. 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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Premier credit cards are secured and unsecured cards for people with damaged credit that are issued by First PREMIER Bank and operate on the Mastercard network. Most First PREMIER credit cards have high regular APRs and come with costly fees, making them some of the most expensive offers on the credit card market.

A notable First PREMIER Bank card is the First PREMIER® Bank Mastercard Credit Card, which is an unsecured credit card for people with bad credit. The First PREMIER® Bank Mastercard Credit Card comes with many fees, starting with an application processing fee of $55 - $95, assessed before account opening. The card also has an annual fee of $50 - $125 for the first year and $45 - $49 thereafter. On top of that, there is also a monthly fee ($0 - $8 1st yr, $6.25 - $10.4 after).

It’s also worth noting that other credit card companies offer “Premier” cards, too. Issuers often use the name “Premier” to indicate a high-end credit card, though that is not always the case.

Popular Premier Credit Cards

First PREMIER Bank Unsecured Offer: First PREMIER® Bank Mastercard Credit Card
First PREMIER Bank Secured Offer: First PREMIER® Bank Secured Credit Card
Citibank Offer: Citi Premier® Card
Synchrony Bank Offer: Synchrony Premier World Mastercard®
PNC Bank Offer: PNC Premier Traveler® Visa Signature Credit Card
Disney-Branded Offer: Disney Premier Credit Card

Ultimately, the name “Premier” by itself does not reveal much about the quality of a credit card. Instead, you should be paying the most attention to interest rates, fees and rewards. If you are in the market for a new credit card, you can easily compare the latest credit card offers for your credit level on WalletHub.

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People also ask

What's the starting First Premier Bank card credit limit?

Your First Premier credit card limit will be $200 to $700 to start, depending on which card you get from First Premier Bank and your overall creditworthiness. First Premier will consider factors such as your credit history, income and debt when determining your credit limit.

For example, their secured offering - the First Premier Secured, will offer a limit of $200, but after the annual fee is charged you'll have $150 in available credit. After at least 12 months, you will be able to ask for an increase (up to $5,000) and you'll get charged a credit limit increase fee in the amount of 25% of the amount of the credit limit increase.… read full answer

For the other First Premier Bank credit cards, the unsecured ones, your credit limit could be anywhere from $300 to $1,000, depending on what First Premier thinks of your overall creditworthiness.

But, for example, if you’re assigned a $300 credit limit, you will have to pay a $95 processing fee before opening your account and then a $75 annual fee once you do, giving you just $130 in borrowing power to work with.

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How can I get a First Premier Bank credit card cash advance?

To get a First Premier Bank credit card cash advance, use the credit card and a corresponding PIN at a participating ATM and withdraw the cash, up to the card’s available cash advance limit. If you do not have a PIN, contact First Premier Bank’s customer service at (800) 987-5521 to request one.… read full answer

There may be other ways to get a cash advance from your First Premier Bank credit card, too. For example, you can request a cash advance in person at a local First Premier Bank branch. You could also write out a First Premier Bank cash advance check and use it like a traditional bank check.

You should keep in mind that a First Premier Bank cash advance can be expensive. A cash advance fee and a separate cash advance APR apply from the moment of the transaction. If you have to get one, then it would be best to pay it off as soon as possible.

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How can I get pre-approved for the First Premier credit card?

You can get pre-approved for a First Premier credit card if you fit the issuer's criteria and receive a mail offer. After receiving a mail offer, enter your confirmation number on First Premier Bank's dedicated web page to apply. If you can't find the letter with the enclosed confirmation number, you can click "Look up your confirmation number" on the same page to retrieve it. … read full answer

A pre-approval offer will only trigger a soft pull on your credit, but it doesn't guarantee you'll be approved. An actual application will result in a hard pull on your credit, lowering your score for a short period of time.

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