First Premier Credit Card Review

First Premier from First PREMIER Bank ā€” all information about the credit card.

By Hanna Volkava
Updated March 01, 2022
First Premier First PREMIER Bank
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Our Rating:
0.88 out of 5
scorer
Recommended credit score
No Credit History to Fair (0-669)
  • Rewards Rate:
    • This card doesn't offer cash back, miles or points.
  • Intro Offer:
    • No current offer.
  • Annual Fee:
    $75 - $125 for the first year
    $45 - $49 annually
  • Purchase Intro APR:
    None
  • Regular APR:
    36.00% Regular
  • Balance Transfer APR:
    None
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Rate and fee information

  • Purchase Intro APR
    • None
  • Purchase APR
    • 36.00% Regular
  • Intro Balance Transfer APR
    • None
  • Balance Transfers APR
    • None
  • APR for Cash Advances
    • 36.00% Regular
  • How to Avoid Paying Interest
    • Your due date is at least 27 days after the close of each billing cycle. You will not be charged any interest on purchases if you pay your entire balance by the due date each month. You will be charged interest on cash advances on the transaction date.

Fees

  • Annual Fee
    • $75 - $125 for the first year
      $45 - $49 annually
  • Fees for Cash Advances
    • Either $8.00 or 5% of the amount of each Cash Advance, whichever is greater
  • Return Payment
    • Up to $39
  • Late Payment
    • Up to $39
View all Rates & Fees

Pros & Cons

Pros:
  • Widely Accepted
  • Fast Approval
  • Monthly Credit Bureau Reporting
  • Accessible for applicants with poor credit
  • Increase Your Credit Limit
Cons:
  • High Program, Annual, and Monthly Fees
  • High-Interest Rate
  • High Credit Limit Increase Fee
  • No Rewards
  • There is a fee for just about everything

Features

Classic
Mastercard
  • Payment Flexibility
  • Free Credit Score
  • Poor Credit
  • Fair Credit

About the issuer

First PREMIER Bank has several card types depending on your needs.
Manage your Account & Pay your Bill
You can usually pay your bill online on your

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First PREMIERĀ® Bank MastercardĀ® Credit Card Review

The First PREMIERĀ® Bank MastercardĀ® Credit Card is a good choice for consumers with low credit scores or no credit history who can't be approved for the most traditional credit cards.

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With the Credit Card from First PremierĀ®, you can be charged an annual fee of $75 - $125 the first year and $45 each year after that, depending on your creditworthiness and credit limit assigned.

Let's discuss the First PremierĀ® Bank Mastercard's pros and cons, which is a pricey unsecured card that requires no security deposit but with exceptionally high APR.

First PREMIERĀ® Bank MastercardĀ®: pros and cons

Pros: Cons:
Widely Accepted. Most merchants accept the First PremierĀ® Bank MastercardĀ®. You can use it online or in-person for dining, shopping, groceries, gas, and much more. High Program, Annual, and Monthly Fees. Besides the high program fees which ranges from $55 to $95, this card charges annual fees up to $125 the first year and $45 in subsequent years. In addition to that, you get charged monthly fees ranging from $6.25 to $10.40 per month.
Fast Approval. According to First PremierĀ®, most people will find out if they qualify within 60 seconds. If you do not receive an immediate response, you may have to wait from 48 hours to 7-10 business days. The bank looks at your current credit score and history to decide your eligibility. High-Interest Rate. This is a pricey card that charges about double the average credit card APR (36.00% fixed). It's expensive, even for credit cards designed for people with bad credit.
Monthly Credit Bureau Reporting. The First PremierĀ® bank reports to all three credit bureaus each month. By making on-time payments each month, you build a history of responsible use. This will help rebuild your credit and increase your credit score. High Credit Limit Increase Fee. You are required to pay a fee of 25% of the credit limit increase. For example, if your credit limit increases by $200, you'll pay a $50 fee.
Accessible for applicants with poor credit. First PremierĀ® Bank will approve applications from even those with bad credit. You must be 18 to apply. No Rewards: The First PremierĀ® Bank MastercardĀ® is a credit-building tool, so there are no rewards or rewards programs associated with it.
Increase Your Credit Limit: You become eligible for a credit increase if you use your First PremierĀ® Bank credit card responsibly for 13 months. There is a fee for just about everything. The card is riddled with fees from sign-in to statement copy. These fees include a 3% foreign transaction fee, $29 authorized user fee, a late fee up to $39, an annual fee, a 5% cash advance fee, a 25% credit limit increase fee, processing fee, and more.

First PREMIERĀ® Bank MastercardĀ®: rewards system in a nutshell

The card offers no rewards.

Who can benefit from getting the First PREMIERĀ® Bank MastercardĀ® Credit Card?

People with severely damaged credit are the ones that will benefit from getting the First PREMIERĀ® Bank MastercardĀ®. However, it would be best if you don't plan to use this card long-term.

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The First PREMIERĀ® Bank MastercardĀ® is meant to be used for a short time to build your credit before moving to more conventional cards. Anyone with a bank account can access this card, but you'll instantly be inundated with lots of fees and limitations.

It is a subprime product with relatively unfriendly terms and a staggering APR (36.00% fixed). Moreso, it has no benefits or shopping/ travel protections attached.

Are there any other benefits?

  1. Mobile App

The First PREMIERĀ® Bank provides their clients with free mobile banking abilities. According to the bankā€™s website, with the app, you can ā€œcheck account balances, make transfers, pay bills, locate ATMs, deposit checks, receive electronic bank statements and moreā€. The mobile app also gives you access to free spending analysis and budgeting tools. The ability to schedule and make payments with Online Bill Pay using a mobile app is an addition to the traditional set of payment options. And, of course, there are some classic app features like locking and unlocking lost or stolen cards, up-to-36 months of transaction history, and paperless monthly eStatements.

  1. MastercardĀ® benefits

The First PREMIERĀ® Bank MastercardĀ® is subject to basic MastercardĀ® features, which include the number of protections and warranties.

Unfortunately, the issuer does not complement the card with many benefits available. Taking into account the cardā€™s high rates and fees, it may seem that the First PREMIERĀ® Bank thought people would apply for the card just for its deep orange color. Obviously, it doesnā€™t work this way.

Conclusion

The First PremierĀ® Bank Credit Card should only be considered by people with severely damaged credit. It reports to the credit bureaus and might help improve your credit score, but the exorbitant fees and 36.00% APR make it an expensive card to own. As soon as you have a chance, try applying for the new card with better rates and less fees.

FAQ

Can I increase my credit limit?

Yes, you should be eligible for a credit limit increase after 13 months, but you're expected to pay 25% of the amount of the increase. This is extremely rare as most credit card issuers will not charge you for increasing your credit limit and some wonā€™t review your credit limit at all. But you need to be aware of more fees beyond that.

What credit scores do I need to qualify for the First Premier Bank Mastercard?

The First PREMIER Bank Credit Card doesn't explicitly state what kind of credit score you need to qualify for the card. However, a poor credit score may range within 300 ā€“ 579 for FICO or 300 ā€“ 649 for VantageScore. Credit card issuers also consider other factors like income when determining your creditworthiness, but it ultimately comes down to the bank's discretion.

What is the customer service phone number for First PREMIER Bank Mastercard Credit Card?

First PREMIER Bank credit card customers can call for support on 800-987-5521. They provide cardholders with phone support from Monday to Saturday, as well as 24/7 automated phone support and online access.
Hanna VolkavaHanna Volkava

Financial and product expert

hv@myfin.us
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