|
The First PREMIER Bank Gold Master Card was last reviewed on 27th June 2008
Summary - The First PREMIER Bank Gold MasterCard® is a credit card designed for those with less than perfect credit. Find out more...
Fees - As with most other credit cards in this category, there are quite a few up front fees. Firstly, you will have to pay a one-time account setup fee of $29.00, a one-time program fee of $95.00. The annual fee is $48.00. There is also an annual participating fee of $84.00 which is charged to the cardholder at $7.00 month. The annual fee for an additional card is $20.00. The initial credit limit given is at least $250. Therefore, if you get an initial credit limit of $250, your true credit limit is $71.00, after deducting all the above mentioned fees of ($179.00). If you credit limit is increased, you will be charged a credit limit increase fee of $25.00.
The strong point of this credit card is that the APR is quite low at a rate of 9.9% on purchases*, which is very low for a credit card that targets to people with limited or poor credit.
Verdict - There are quite a few credit card companies that specifically issue cards to those with bad or no credit. Typically, these credit cards have high fees in the form of annual fees, set-up fees etc. The First PREMIER Bank is no exception. However, the key strength of this card is that it has a very low APR of 9.9% on purchases*. Hence, if you have bad credit, want a card with a low apr, you may want to consider the First PREMIER Bank Gold MasterCard®.
Positives
Low apr25 day grace period
Negatives
High fees (normal for sub-prime cards)
| First PREMIER Gold Card |
| Credit Limits |
|
| Credit Agency Reporting |
Reports to 4 credit bureaus |
| Card Benefits |
|
| Cost/Fees/Interest
rates |
| Annual Fees |
$48.00 |
| Annual Participation Fees |
$84.00 - billed at $7.00 a month |
| One-time Account Setup Fee |
$29.00 |
| One-time Program Fees |
$95.00 |
| Additional Card Annual Fee |
$20.00 |
| First Year Fees |
$179.00 |
| Purchase APR |
9.9% |
| Other Annual Percentage Rates |
APR for Cash Advances 19.9% and Penalty APR
19.9% for Purchases. See Penalty Explanation below* |
| Penalty Pricing Information |
Penalty Pricing Information: If your Account goes
past the due date two times in any six month period or goes past the due
date for two consecutive billing cycles the APR for purchases will increase
to 19.9%. The APR for purchases will be reduced back to 9.9% if the Account
is kept current for 3 consecutive months or is paid in full. |
| Min Finance Charge |
$0.50 |
| Grace Period |
25 days |
| Balance Calculation Method |
Average Daily Balance (including new
purchases) |
| Cash Advance fee |
Greater of 3% or $5.00 |
| Credit Increase fee |
$25.00 |
| Over-the-credit-limit fee |
$29.00 |
| Late Payment fee |
$29.00 |
Terms and Conditions
Apply for the First PREMIER Bank Gold MasterCard®.
|
