Q:

What are the benefits of the First Premier credit card?

A:

Quick Answer

The benefits of having a Premier Bankcard from First Premier Bank are the ability to be approved for a credit card with fair or poor credit, and being able to improve your credit score, according to First Premier Bank. There is an online application with instant approval or denial.

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Full Answer

There are Visa and MasterCard credit cards available, according to First Premier Bank. This gives account holders an option between the two major types of credit cards. While the interest and fees are higher with Premier Bankcard credit cards in comparison to other credit cards, there is a higher rate of approval. The bank states that it is similar to a high-risk insurance policy, through which almost anyone with a low credit score and bank account qualifies for the card.

Another benefit is that this is not a secured or prepaid credit card, says First Premier Bank. Many credit cards offered to those with low credit scores are secured, meaning that the account holder must deposit money onto the card. However, the Premier Bankcard credit card is a standard unsecured card that reports to all the major credit bureaus. The credit limit depends on the individual’s credit rating and income. After paying the bill on time every month, the credit limit is raised.

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