How Does LendingTree Get Paid?
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| American Express Disclosure

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.

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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.

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PREMIER Bankcard® Mastercard® Credit Card Review

PREMIER Bankcard<sup>®</sup> Mastercard<sup>®</sup> Credit Card

PREMIER Bankcard® Mastercard® Credit Card Review

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 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 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 PREMIER Bankcard® Mastercard® Credit Card best for?

The PREMIER Bankcard® Mastercard® Credit Card, which is designed for consumers with poor credit, offers an unsecured option for those having a difficult time being approved for a traditional credit card.

With responsible card usage, the PREMIER Bankcard® Mastercard® Credit Card can help boost your credit history, since it reports your credit activity to the major credit bureaus. However, because the card comes with extremely costly fees and a high APR, we don’t recommend it unless your credit history prevents you from being approved for any other credit card.

As an alternative, you may want to consider the OpenSky® Secured Visa® Credit Card. Although the card requires a security deposit, it comes with significantly lower fees and does not require a credit check when you apply.

PREMIER Bankcard® Mastercard® Credit Card overview

    • Don’t let a low FICO score stop you from applying – we approve applications others may not.
    • You don’t need good credit to apply.
    • Just complete the short application and find out in 60 seconds if you’re approved.
    • When you need assistance our award-winning US-based Customer Service agents are there to help.
    • 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.
  • Credit needed:
    520 549
    Poor
  • Reports to the major credit bureaus
  • Free FICO® credit score, updated quarterly
  • Mobile app access
  • Account alerts
  • Paperless statements

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 PREMIER Bankcard® Mastercard® Credit Card

Pros

  • Open to applicants with poor credit
  • Worldwide acceptance

Cons

  • Costly fees
  • Sky-high APR
  • No rewards program

What we like about the PREMIER Bankcard® Mastercard® Credit Card

  • Open to applicants with poor credit

    Perhaps the best feature of the PREMIER Bankcard® Mastercard® Credit Card is that it accepts applicants with poor credit or no credit history. So if you aren’t able to get approved for a traditional card and aren’t willing to submit a deposit for a secured card, the PREMIER Bankcard® Mastercard® Credit Card is an option.

  • Worldwide acceptance

    Because this card is a Mastercard, it is accepted at millions of locations around the world. Just know, if you use PREMIER Bankcard® Mastercard® Credit Card to make purchases outside of the U.S., you will be subject to foreign transaction fees.

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

  • Costly fees

    Along with an annual fee, the PREMIER Bankcard® Mastercard® Credit Card charges expensive set-up and maintenance fees, which are based on your credit limit. For example, if your credit limit is $300, the one-time program fee will be $95 and the monthly fee will be $0 for the first 12 months, then $6.25 per month. If your credit limit is $700, your one-time program fee will be $55 and your monthly fee will be $8 per month for the first 12 months, then $10.40 per month.

  • High APR

    If you carry a balance on your card from month to month, you will be subject to extremely high interest charges at an APR of See Issuer Website.

  • No rewards program

    If you’re hoping to earn rewards for the purchases you make, the PREMIER Bankcard® Mastercard® Credit Card is not the right card for you, since it doesn’t offer a rewards program or sign-up bonus.

    But keep in mind, it’s best to focus on practicing responsible card usage — meaning paying your bill in full and on time each month and keeping your balance low — rather than earning rewards when trying to rebuild or establish your credit.

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

Compare it to the OpenSky® Secured Visa® Credit Card

| Disclosures
OpenSky® Secured Visa® Credit Card
OpenSky® Secured Visa® Credit Card
on OpenSky's secure site
N/A
18.89% (variable)
$35
None
  • No credit check to apply and find out instantly if you are approved.
  • OpenSky gives everyone an opportunity to improve their credit with an 85% average approval rate for the past 5 years
  • Get considered for a credit line increase after 6 months, with no additional deposit required
  • You could be eligible for the OpenSky Gold Unsecured Card after as few as 6 months
  • Reports to all 3 major credit bureaus monthly, unlike a prepaid or debit card
  • Nearly half of OpenSky cardholders who make on-time payments improve their FICO score 30+ points in the first 3 months
  • Your refundable* deposit, as low as $200, becomes your OpenSky Visa credit limit
  • Easy application, apply in less than 5 minutes right from your mobile device
  • Offer flexible payment due dates which allow you to choose any available due date that fits your payment schedule
  • *View the cardholder agreement
300 599

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 have poor credit, but would like a card that charges considerably less fees than the PREMIER Bankcard® Mastercard® Credit Card, you may want to look at the OpenSky® Secured Visa® Credit Card. Because the OpenSky® Secured Visa® Credit Card doesn’t require a credit check when you apply, you won’t have to worry about your credit history preventing you from being approved. The card does, however, require a security deposit of $200 to $3,000, which will serve as your line of credit.

The OpenSky® Secured Visa® Credit Card has an ongoing regular purchase APR of 18.89% (variable) — which is considerably lower than that of the PREMIER Bankcard® Mastercard® Credit Card.

Just know, the OpenSky® Secured Visa® Credit Card charges an annual fee of $35, which will automatically be deducted from your initial credit limit. For example, if have an initial credit limit of $200, your available credit will be $165 until you pay the fee.

Additionally, unlike some other secured credit cards, the OpenSky® Secured Visa® Credit Card does not allow you to transition to an unsecured card with the same issuer after demonstrating responsible card usage. To get your deposit refunded, you must pay your card balance in full and close the account.

Compare the PREMIER Bankcard® Mastercard® Credit Card to similar cards

Comparison of four different credit cards
PREMIER Bankcard<sup>®</sup> Mastercard<sup>®</sup> Credit Card OpenSky<sup>®</sup> Secured Visa<sup>®</sup> Credit Card PREMIER Bankcard<sup>®</sup> Grey Credit Card Capital One Platinum Secured Credit Card
PREMIER Bankcard® Mastercard® Credit Card OpenSky® Secured Visa® Credit Card PREMIER Bankcard® Grey Credit Card Capital One Platinum Secured Credit Card
Apply Now
on PREMIER Bankcard®'s secure site
Apply Now
on OpenSky's secure site
Apply Now
on PREMIER Bankcard®'s secure site
Apply Now
on Capital One's secure site
Annual Fee
See Issuer Website $35 See Issuer Website $0
Regular APR
See Issuer Website 18.89% (variable) See Issuer Website 26.99% (Variable)
Welcome Offer
None N/A None No bonus
Rewards Rate
N/A None N/A Non-rewards Card
Recommended Credit
Poor Poor/Limited Poor Poor/Limited
Card Details
PREMIER Bankcard® Mastercard® Credit Card OpenSky® Secured Visa® Credit Card PREMIER Bankcard® Grey Credit Card Capital One Platinum Secured Credit Card

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

If you’re in need of credit but have limited options due to poor or non-existent credit history, you may be tempted to sign up for the PREMIER Bankcard® Mastercard® Credit Card. But because this card is loaded with excessive fees and a high APR, you may be better off with a card like theOpenSky® Secured Visa® Credit Card.

The OpenSky® Secured Visa® Credit Card requires a much lower annual fee and APR than the PREMIER Bankcard® Mastercard® Credit Card card. Additionally, instead of basing your credit line on your past credit history, you can choose your credit line and secure it with a refundable security deposit.

Apply Now
on PREMIER Bankcard®'s secure site