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How Does LendingTree Get Paid?

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First PREMIER® Bank Credit Card

First PREMIER<sup>®</sup> Bank Credit Card

First PREMIER® Bank Credit Card

Build Credit*
Manageable credit limit, manageable payment, meant to fit your budget
Fast Application
Fill out an application and know in 60 seconds if you’re approved!
Online Account Access
A full-service website means First PREMIER Bank customers enjoy 24-hour access to easily manage personal account needs.
Edited by
Julie Sherrier
Reviewed by
Tracy Brackman
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

Who is the First PREMIER® Bank Credit Card best for?

If you have poor/bad 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 First PREMIER® Bank Credit Card .

The First PREMIER® Bank 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, 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 First PREMIER® Bank Credit Card and show how it compares to the Discover it® Secured Credit Card.

First PREMIER® Bank Credit Card overview

    • Choose which account management options are right for you.
    • Build credit with First PREMIER*
    • Fill out an application and know in 60 seconds if you’re approved!
    • YOU’RE NOT ALONE - As the 12th largest issuer of Mastercard credit cards, First PREMIER Bank understands customer needs and is there for those who may be denied by other issuers.
    • Manageable credit limit, manageable payment, meant to fit your budget
    • *Build credit by keeping your balance low and paying all your bills on time every month.
  • Credit needed:
    500 549
    Poor/Bad
  • Reports to major credit bureaus
  • Free monthly FICO® Score
  • Mobile app access
  • Account alerts

Intro Purchase APR

N/A

Regular Purchase APR

See Issuer Website

Intro BT APR

N/A

Regular BT APR

See Issuer Website

Annual Fee

See Issuer Website

Cash Advance Fee

See Issuer Website

Foreign Transaction Fee

See Issuer Website

Balance Transfer Fee

N/A

Pros and cons of the First PREMIER® Bank Credit Card

Pros

  • No security deposit required

Cons

  • Extremely high APR
  • Excessive fees

What we like about the First PREMIER® Bank Credit Card

  • No security deposit

    If you have poor/bad credit, and are interested in a secured credit card that requires a security deposit, the First PREMIER® Bank 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 First PREMIER® Bank Credit Card account (more on that below).

What to look out for with the First PREMIER® Bank Credit Card

  • Extremely high APR

    If you are considering applying for a First PREMIER® Bank Credit Card , know that you will be subject to an annual percentage rate (APR) of See Issuer Website. Because of that high APR, this isn’t a card you want to carry a balance on, as the interest charges will considerably inflate what you owe.

  • Excessive fees

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

    Set-up and maintenance fees

    Credit limitOne-time program feeAnnual feeMonthly fee
    $300$95$75 first year, $45 annually after that$0 first year, $75 annually after that ($6.25 per month)
    $400$95$100 first year, $45 annually after that$0 first year, $75 annually after that ($6.25 per month)
    $500$95$125 first year, $49 annually after that$0 first year, $124.80 annually after that ($10.40 per month)
    $600$75$79 first year, $49 annually after that$70.20 first year ($5.85 per month), $99 annually after that ($8.25 per month)
    $700$55$79 first year, $49 annually after that$96 first year ($8 per month), $124.80 annually after that ($10.40 per month)

    Automatic credit limit increase fees

    Once your account has been open for 13 months, First PREMIER Bank 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.

    Additional fees

    • Late payment fee: Up to $39
    • Return item charge: Up to $39
    • Express card delivery fee: $35 (only available for lost, stolen or replacement cards)
    • Wire transfer fee: $5 per transaction
    • Copying fee: $3 for each statement, sales draft or other document copy
    • Foreign transaction fees: see issuer website

Alternate credit-building card to the First PREMIER® Bank Credit Card

Compare it to the Discover it® Secured Credit Card

Disclosures |
Discover it® Secured Credit Card
Discover it® Secured Credit Card
on Discover's secure site
N/A
22.99% Variable APR
$0
2% cash back at Gas Stations and Restaurants on up to $1,000
  • No Annual Fee, earn cash back, and build your credit with responsible use.
  • Using your secured credit card helps build a credit history with the three major credit bureaus. Generally, prepaid and debit cards can’t do that.
  • Establish your credit line with your tax return by providing a refundable security deposit of at least $200 after being approved. Bank information must be provided when submitting your deposit.
  • Automatic reviews starting at 8 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. Plus, earn unlimited 1% cash back on all other purchases – automatically.
  • Discover is accepted nationwide by 99% of the places that take credit cards.
  • Get 100% U.S. based customer service & get your free Credit Scorecard with your FICO® Credit Score
  • INTRO OFFER: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.
  • Get an alert if we find your Social Security number on any of thousands of Dark Web sites.* Activate for free.
300 659

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.


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 eight 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, 1% unlimited cash back on all other purchases - automatically. Additionally, for new card members only, Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.

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.

Compare the First PREMIER® Bank Credit Card to similar cards

Comparison of four different credit cards
First PREMIER<sup>®</sup> Bank Credit Card Discover it<sup>®</sup> Secured Credit Card Capital One Platinum Secured Credit Card Capital One Platinum Credit Card
First PREMIER® Bank Credit Card Discover it® Secured Credit Card Capital One Platinum Secured Credit Card Capital One Platinum Credit Card
Apply Now
on First PREMIER® Bank's secure site
Apply Now
on Discover's secure site
Apply Now
on Capital One's secure site
Apply Now
on Capital One's secure site
Annual Fee
See Issuer Website $0 $0 $0
Regular APR
See Issuer Website 22.99% Variable APR 26.99% (Variable) 26.99% (Variable)
Welcome Offer
None Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match. No bonus No bonus
Rewards Rate
N/A 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, 1% unlimited cash back on all other purchases - automatically Non-rewards Card Non-rewards Card
Recommended Credit
Poor/Bad Limited/Bad/Poor Limited/Bad Average/Fair/Limited
Card Details
First PREMIER® Bank Credit Card Discover it® Secured Credit Card Capital One Platinum Secured Credit Card Capital One Platinum Credit Card

Is the First PREMIER® Bank Credit Card right for you?

If you’re in the market for an unsecured credit card that accepts applicants with poor/bad credit, and don’t mind paying the fees associated with the First PREMIER® Bank 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 score 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
on First PREMIER® Bank's secure site