Review: First PREMIER® Bank Mastercard Credit Card
Very expensive. The First PREMIER Bank Mastercard Credit Card charges an application-processing fee, an annual fee and a monthly fee. The exact amounts depend on the credit limit you’re assigned, but the processing fee could be anywhere from $25 to $95. The annual fee ranges from $75 to $125 the first year and $45 to $49 each year thereafter. And the monthly fee (waived for the first year) could be as “low” as $6.25 or as high as $10.40.
Best case, you’ll have to pay roughly $290 in fees before the second anniversary of account opening. Worst case, you’ll have to shell out $404. In contrast, the average credit card would cost you about $34.7 over the first two years of use. And the best credit cards for people with the bad credit can be free to use.
Very little payoff. Your credit limit could be anywhere from $300 to $1,000, depending on what First PREMIER thinks of your overall creditworthiness. But remember, you won’t have all of that at your disposal to start with. Given the First PREMIER Credit Card’s high fees, you may actually wind with very little extra spending power, relative to what you can afford in cash.
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. Such a paltry amount won’t go very far when you’re faced with emergency expenses. And emergency borrowing is the only reason for someone with bad credit to use an unsecured card instead of a secured card.
Market’s highest APR. The costs just keep on coming when you use the First PREMIER Bank Card. Balances carried from month to month will accrue interest at a whopping high annual rate. It’s by far the highest APR on the market, according to WalletHub’s database of 1,000+ credit card offers, and nearly double the 18.48% average among secured cards. Furthermore, as finance charges are added to your minimum monthly payment, you’ll have less and less borrowing power to work with the longer you carry a balance.
Far better alternatives. Regardless of your exact need, you can do better than the First PREMIER Bank Credit Card. If you want a credit card to rebuild your credit, rather than emergency borrowing, there are better options, like no annual fee secured cards.
First PREMIER® Bank Mastercard Credit Card's Key APRs & Fees
ONE-TIME FEES $25 - $95
ANNUAL FEE $50 - $125 1st yr, $45 - $49 after
MONTHLY FEE $0 - $8 1st yr, $6.25 - $10.4 after
REGULAR RATE 36%
GRACE PERIOD 27 days
First PREMIER® Bank Mastercard Credit Card's Highlights
Based on your creditworthiness, this card requires a one-time up front Processing Fee of $25 - $95, to be paid in full before the Credit Account is opened. If the Processing Fee is not paid in full within 85 days, the application will be withdrawn.
Fees reduce your available credit. For example, if your initial credit limit is $300, your initial available credit will be only about $225, given the $75 Annual Fee that is charged on the card.
Based on your creditworthiness and credit limit assigned, this card’s annual fee could be $75 50 - $125 in the first year, $45 – $49 after.
Based on your creditworthiness and credit limit assigned, this card’s monthly fee could be $0 - $8 in the first year, $6.25 - $10.40 after.
Your account history reports to the major Consumer Reporting Agencies
Use your card everywhere Mastercard® cards are accepted.
Each time your Credit Account is eligible for and approved for an unsecured credit limit increase, a Credit Limit Increase Fee in the amount of 25% of the amount of the credit limit increase will be assessed to your Credit Account.
*We are not affiliated with or authorized by First PREMIER Bank. The information herein has not been reviewed or approved by First PREMIER Bank.
First PREMIER® Bank Mastercard Credit Card's Additional Info
MAX LATE FEE $39
MAX OVERLIMIT FEE None
MAX PENALTY APR None
FOREIGN TRANSACTION FEE 3%
SMART CHIP Yes, unknown
CASH ADVANCE APR 36%
CASH ADVANCE FEE 5% (min $8)
Related Credit Cards
If you are interested in the First PREMIER® Bank Mastercard Credit Card, check out the following credit cards as well:
Making a payment does not add to your credit limit, but it does free up some available credit for use. In other words, the amount of your payment can once again be used to make purchases. To actually get a higher credit limit, you will have to request an increase from your card’s issuer. You can learn more about that here: http://wallethub.com/edu/how-to-increase-credit-limit/25857/ .
With that being said, it’s important to note that secured credit cards are a bit different. Because your credit limit will generally equal the amount of your refundable security deposit, you can increase your limit by adding to the deposit. More information about secured cards can be found here: http://wallethub.com/edu/secured-cards/19575/ .
Hope this helps! Please let us know if you have any other questions.
Unfortunately you cannot. Your initial cash advance limit is 10% of your spending limit, which is likely to be $300 to $500. It can jump to 50% of your spending limit after your account has been open for at least 90 days, provided your account is in good standing, but even that might not be enough for a $1,000 cash advance. That could end up being a good thing, too, considering that you’d get charged a 5% cash advance fee and your balance would immediately begin accruing interest at a rate of 36%. It’s not worth incurring such costs for anything but the biggest financial emergencies. With that being said, this card belongs to a network of 24,000 surcharge-free ATMs, and you can find the closest location here: https://firstpremier.com/locations/ . Please let us know if you have any other questions.
Your First Premier Mastercard cash advance limit is 10% of your credit limit, or $30.
But you will need to obtain a PIN from First Premier before performing a cash advance.
You can reach their customer service department at 800-987-5521. You should also know that cash advances are quite expensive. You'll be charged a fee of 5% (min $8), and interest will immediately begin accruing at a 36% rate.
For more information about cash advances, check this guide.
Criminal would be the only word to describe their business. They charge you to have the card, the charge you to increase your limit, ....they charge you for everything. After four years will a perfect payment history and paid off balances I ignored all the credit pundits and their "dont close your old credit cards" nonsense and said goodbye to these parasites for good. They prey on folks with bad credit.
Credit suicide! I've never been so violated by a credit card co. I knew I was getting ripped off. I accepted it because I was desperate to start building credit. Within 3 months my minimum payment climbed from $30 to over $70. I don't know where all the fees were coming from and I don't want to know. I closed my account. It was by reading these reviews on Wallethub that I even dared venturing into this dangerous territory. Read the reviews on Credit Karma.…show more
The WORST credit card I've ever had. Customer service absolutely sucks. They will permanently close your account and not tell you but allow you to pay off your balance. I tried calling for weeks but when i put the last 4 of my card in they would claim to be closed during business hours and days. They make you pay a ton of hidden fees and fines. Then play dumb when you ask about it. Will NEVER get this card again and I will make sure no one I know gets sucked into this scam.…show more
Horrible customer service, uneducated electronic transfers team. I got the card to build my credit score and this bank refused my online and debit card payments. Ruined my fair credit....don't bank with these guys for any reason!
I advise anybody dont sign up to this bullshit credit card company I'm laying in the hospital an told these mfs i need a couple of days until next week so i can make my payment an she told me i will be charged a late fee 2morw an i been a card holder for 4 years smh im done im calling to cancel my card right now these rude ass bastards ! An that bitch that answered my call was rude asf fuck yall…show more
If you want a card that charges so many fees that you don't have to worry about making purchases because you're always over the limit this card is for you! Don't worry when they max out your first card they will say what good credit you have and offer to open a new account so they can max it out with more fees. I closed my account and paid full balance. DON'T FALL FOR THEIR OFFERS!!!…show more
CAUTION!!! RUN RUN RUN FROM THIS CARD DON'T DO IT FOR BILLS DON'T DO IT FOR CREDIT BUILDING!!! I am not angry with them even though I lost money. I just want to warn customers before the headache and losses happen to someone else. Here is what's understood $95 program fee $125 one time annual fee. Boom after the first year of having the card you'll a $10 a month convenience fee after your $49 annual that's the catch it double FEES can not be justified. Now the plot thickens because firstly you have to recieve the card that will never come in the mail no matter how much you call First Premier the only way you get a tracking number is to commit more money to a card you never recieved of $35 its a total lost. You will read different experiences do your homework compare to convince yourself to make the biggest mistake no matter how much your approval is DON'T TRUST THIS CARD you have been warned. If there was a no star to give negative 1000 stars…show more
I have had the card now for about 6months and they have since cancelled the account after taking the money out of my account and saying i still owe to them what they already recieved as payment. I would NEVER recommend this card to anyone i wish i could rank it at 0 stars
Can I pay my bill through western union? Or do I have to pay online? I need an answer as soon as possible because my bill is over due and I don't have another card to pay with only cash can someone help me
I started with 1st premier 5yrs ago, and despote what I was told, I have enjoyed my credit privileges with a Mastercard, and Platinum Card with an 850.00 limit on one and 950.00 on the other one, and regularly reporting to the credit bureaus, in great standing! Real talk? When your credit is bad, you want respect? Pay your bills! Respect is earned, and not given! You don't get red carpet treatment with a 500 credit score! Sorry, but not happening, and 5 yrs ago i started with 1st premier and now I have over 50k in available credit, because I paid my bills ontime! Amex-2 cards, Chase-2 cards, and a host of others, and those blessings wouldnt have been possible without me starting somewhere! I started with 1st Premier, and from the bottom of my heart, THANK YOU! Mercedes, 2 BMW's, Cadillac, Ccrvette, F250, Expedition, Jeep , buying a yacht, you heard me! Dam right! And an estate dream home in the fall! Thank you Lord! Thanks 1st Premier for giving me a chance to start somewhere, and you will always be apart of my financial picture, as long as I live! The secret! Pay your credit card weekly! Not once a month! You will find that favor will be shown you, in doimg so! Credit card balances cant be managed once a month, and if you pay minimum payments every month, nobody will take you seriously! Never pay minimum payments! Always add 20.00 to the minimum if possible! Thats how you manage credit card balances! One payment takes care of the balance, but the others go directly to the principle! Believe what you want and do as you please, but I'm with 1st Premier until Jesus comes baby! Luv my 1st Premier Bank/ Staff! Real hustas pay their bills, not cey about them, or pretend they don't exist! You wanna Bentley, but you struggling with 2000.00 a month! Child please! Grow up! Handle your business, and get your blessings! This is my testimony and my personal experience with this Bank! They got in my behind, pissed me off, and sometimes made me feel like, as a customer, I was worthless, but now, I'm older! Wiser! I understand now! Sky's the limit! Any questions? 2 fangaz baby! Gone! Reguards, Timothy Geer USMC/USAF CEO/ GW GEER & SONS, LLC…show more
BEWARE PLEASE do not do it, you will regret it! I received a $ 700 credit and paid on time for 6 months valance and they offered me another $ 700 card. I made automatic MINIMUM payments debited from my checking account all the time. pay annual charges separately of $ 75. plus $ 12 extra monthly (for each card) for owning the card. plus all the charges that they want to add you. My paper statements never arrived and I decided to talk to them to see what happened. I needed to see how much they were charging me. the website is disgusting. They only allow you to see the valance but not the hidden charges. I was perplexed to see him pay this shameless bank around $ 1 100. dollars in nonsense interests. $ 75 x 2/HALF = $ 225 ANNUAL FEE $ 12 X 18 months X 1 card + $12X12 months 1 card = $ 360 MONTHLY FEE $ 281 (FIRST CARD IN ONE YEAR) INTEREST CHARGE ON PURCHASES. $ 196 (SECOND CARD IN ONE YEAR) INTEREST CHARGE ON PURCHASES. TOTAL = $ 1 062.00 dollars thrown away in 1 year for using this shit and my credit was always in the same place. This is a theft without justification, do not let it happen to you.…show more
I was approved for a $700 credit limit on 12/3, I needed some extra for Christmas shopping. They are charging a $79 annual fee plus $8 monthly fee, that's $175 annually plus high interest rates. When you recieve the card you're $87 in the hole. It seemed like a bad deal to me, so I called today and canceled the card.
Made my payment on time still got hit with a late fee. They wont do anything to reverse the fee. So much for always making my payment on time. This card is a joke. Customer service is absolute garbage and will not even try to understand the problem.
A One Star review is being generous. I would have gone lower if I could. I got this card because the offer came in the mail and I needed money for some bills. I paid my first payment fine, but when I tried to pay my second, their site said that it went through...until a month later when I got a bill for that amount plus a late fee and another fee. Now the payment was $104 instead of $39. I tried to pay it and got an error, followed by a message saying that I was over my allowed attempts to pay and that my card had been suspended. After trying to get ahold of them, I finally succeeded. The person didn't listen to a word I said and didn't fix anything. I now owe over $220...because of their failings. I will never use this company again, nor will I ever have anything good to say about them to others.…show more
The security department is horrible. I made too many payments to my card??? Clearly you can see the transactions are for car rentals. FPB suspenses my acct for fraud in October. I’m paying my acct from my debit card. But I complied with the requests to provide a statement from my bank proving that is my debit car making those payments. FPB receives this information NOVEMBER 7 told me everything was all clear NOVEMBER 12. Why when I attempted to make a payment they would not except it because the security department forgot to take the hold off. It is now NOVEMBER 23. The security team did nothing absolutely nothing to resolve my concerns in a timely manner or at all. They don’t take phone calls and they cost me $300 in Uber costs because I could not rent a car during the investigation. What investigation??? I spearheaded all communications!!!!! THE SECURITY FRAUD DEPARTMENT IS HORRIBLE!!!!!…show more
Charges 14.50 monthly fee, AND 49.00 annual fee. I thought maybe they would remove the fees after I have paid on time for the pass 3 years 8 months, but they refuse. They even continue to charge you for a credit line increase, that THEY offer you! Then they'll harass you to get a second card so that they can get double the fees by charging you these same fees on the 2nd card! And I can't drop the card right now because this will drop my credit score and I need my scores to purchase a home. I say do some research and find a card that will drop or lower fees over time when you are making timely payments, otherwise you'll be stuck with these crazy fees!…show more
They just suspended my card for being a good customer. I pay my balances in full every 2 weeks, and because of this, they think I am doing fradualant activity! What??? All I am trying to do is repair my credit and have a good payment history! Wow, they made me photocopy the card I use to pay front and back and fax it to them. Are you kidding me? I have never been punished for being a good customer, Sad! Here's the worst part because I pay the balance in full that leaves me short a week so I use the card until I get paid, now I can't! They have left me in a rock and hard place.…show more