How Does LendingTree Get Paid?
LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.
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Advertising Disclosure
LendingTree is an advertising-supported comparison service. The site features products from our partners as well as institutions which are not advertising partners. While we make an effort to include the best deals available to the general public, we make no warranty that such information represents all available products. We are compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order).

Advertising Disclosure

LendingTree is an advertising-supported comparison service. The site features products from our partners as well as institutions which are not advertising partners. While we make an effort to include the best deals available to the general public, we make no warranty that such information represents all available products. We are compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order).
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American Express Disclosure
Terms apply to American Express benefits and offers. Visit americanexpress.com to learn more.

American Express Disclosure

Terms apply to American Express benefits and offers. Visit americanexpress.com to learn more.

PREMIER Bankcard® Grey Credit Card Review

LendingTree's Review

How LendingTree Rates Credit Cards?

Our experts rate credit cards based on several factors including card benefits, bonus offers and independent research. Credit card issuers do not influence or have a say in our card ratings. Read our credit card methodology here.
2.2
PREMIER Bankcard<sup>®</sup> Grey Credit Card
Build Credit
Start building credit by keeping your balance low and paying all your bills on time each month.
Fast Application
Fill out an application and receive a response in 60 seconds!
Online Account Access
A full-service website means PREMIER Bankcard® customers enjoy 24-hour access to easily manage personal account needs.
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It was not reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

Who is the PREMIER Bankcard® Grey Credit Card best for?

If you have poor credit, and have few credit card options for which you can be approved that don’t require a security deposit, you may want to take a look at the PREMIER Bankcard® Grey Credit Card.

The PREMIER Bankcard® Grey Credit Card is an unsecured credit card — meaning, it does not require a security deposit to access your line of credit. However, due to the card’s numerous fees and extremely high interest rates (See Provider Website for full Terms & Conditions), we think it makes more sense to look at alternative credit card options, such as the Discover it® Secured Credit Card.

We break down the pros and cons of the PREMIER Bankcard® Grey Credit Card and show how it compares to the Discover it® Secured Credit Card.

Pros and cons

  • No security deposit required
  • High APR*
  • Excessive fees*

*See Provider Website for full Terms & Conditions

PREMIER Bankcard® Grey Credit Card overview

    • You don’t need good credit to apply.
    • We help people with bad credit, every day.
    • Just complete the short application and receive a response in 60 seconds.
    • You can build or rebuild your credit: apply for a PREMIER Bankcard credit card, keep your balance low, and pay all your monthly bills on time.
    • Don’t let a low FICO score stop you from applying – we approve applications others may not.
    • FICO scores are used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any PREMIER Bankcard® product.
  • Recommended Credit
    Credit scores ranges may vary. Your individual chance at approval may vary due to factors such as creditors using a particular variation at their discretion
  • 300 600
    Poor
  • Reports to major credit bureaus
  • Free monthly FICO® Score
  • Mobile app access
  • Account alerts

Intro Purchase APR

N/A

Regular Purchase APR

See Provider Website

Intro BT APR

N/A

Regular BT APR

See Provider Website

Annual Fee

See Provider Website

Cash Advance Fee

See Provider Website

Foreign Transaction Fee

See Provider Website

Balance Transfer Fee

N/A

What we like about the PREMIER Bankcard® Grey Credit Card

  • No security deposit

    If you have poor credit, and are interested in an usecured credit card that doesn’t require a security deposit, the PREMIER Bankcard® Grey Credit Card is an option.

    Typically, secured credit cards require a deposit of at least $200, which serves as the cardholder’s line of credit, but which will be refunded (minus any balance owed) once the account is closed or moved to an unsecured card.

    However, while avoiding a security deposit may seem like a plus, you could easily incur fees higher than that amount simply by opening your PREMIER Bankcard® Grey Credit Card account (more on that below).

What to look out for with the PREMIER Bankcard® Grey Credit Card

See Provider Website for full Terms & Conditions

  • High APR

    If you are considering applying for a PREMIER Bankcard® Grey Credit Card, know that you will be subject to a high annual percentage rate (APR). For that reason, this isn’t a card you want to carry a balance on, as the interest charges will considerably inflate what you owe.

  • Fees

    Much like some other credit cards designed for individuals with poor credit, the PREMIER Bankcard® Grey Credit Card is laden with fees. For example, the card requires a one-time program fee, as well as monthly and annual fees, which vary depending on your credit limit.

    Automatic credit limit increase fees

    Once your account has been open for 12 months, PREMIER Bankcard® may check to see if you’re eligible for a credit limit increase. If you are, you will be charged a fee that’s 25% of the amount of the credit limit increase. For example, if approved for a $100 credit limit increase, you’ll incur a $25 credit limit increase fee, which will result in an increased available credit of $75.

    If you have been granted a credit limit increase you don’t want, you can request a refund within 30 days after the date of the billing statement on which the fee is billed.

Alternate credit-building card to the PREMIER Bankcard® Grey Credit Card

Compare it to the Discover it® Secured Credit Card

| Disclosures
Discover it® Secured Credit Card
Discover it® Secured Credit Card
apply-now-icon Apply Now
on Discover's secure site
Rates & Fees
N/A
28.24% Variable APR
$0
Earn 2% cash back at Gas Stations and Restaurants on up to
  • No credit score required to apply.
  • No Annual Fee, earn cash back, and build your credit history.
  • Your secured credit card requires a refundable security deposit, and your credit line will equal your deposit amount, starting at $200. Bank information must be provided when submitting your deposit.
  • Automatic reviews starting at 7 months to see if we can transition you to an unsecured line of credit and return your deposit.
  • Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, automatically. Plus earn unlimited 1% cash back on all other purchases.
  • Discover could help you reduce exposure of your personal information online by helping you remove it from select people-search sites that could sell your data. It’s free, activate with the mobile app.
  • Get an alert if we find your Social Security number on any of thousands of Dark Web sites. Activate for free.
  • Terms and conditions apply.
300 600
Limited/Poor

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appears on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.


If you’d prefer to avoid a plethora of set-up and maintenance fees that can quickly add up to what you’d pay with a security deposit for a secured card, you may want to consider the Discover it® Secured Credit Card.

The card requires a minimum security deposit of $200 to open your account, and your credit limit will be determined by your income and ability to pay (up to $2,500). Then, starting at seven months, Discover will automatically review your account to see if you qualify to receive your security deposit back and convert to an unsecured card.

The Discover it® Secured Credit Card also comes with a $0 annual fee and waives your first late payment fee.

Unlike typical secured credit cards, the Discover it® Secured Credit Card offers rewards on every purchase you make.

Cardholders earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, automatically. Plus earn unlimited 1% cash back on all other purchases. Additionally, for new card members only, Discover will match all the cash back you’ve earned at the end of your first year.

Keep in mind that it’s best to focus on demonstrating responsible card usage by paying your card balance in full and on time each month to build up your credit score.

Is the PREMIER Bankcard® Grey Credit Card right for you?

If you’re in the market for an unsecured credit card that accepts applicants with poor credit, and don’t mind paying the fees (See Provider Website for full Terms & Conditions) associated with the PREMIER Bankcard® Grey Credit Card, our advice is to only keep this card open for as short a period of time as possible to establish an acceptable credit profile. Once your credit rises to a point where you can qualify for a card with fewer fees, then you should do so.

Or, if you don’t mind submitting a security deposit, consider a credit card with considerably lower fees and interest rates, such as the Discover it® Secured Credit Card.

apply-now-icon Apply Now
on PREMIER Bankcard®'s secure site