You need to be aware of the fees involved in applying for a credit card. The credit limit you select determines the fees. The fees range from $300 to $700. Important to look at the interest rate. You may also wish to examine the grace period.
Pre-qualification can be a good indicator for credit card approval
First Premier Bank pre-approval is necessary if you wish to apply for a First Premier Bank bank credit card. You must give the issuer your full name, current address and the last four digits your social security number to pre-qualify. Click on the link on the issuer's site to search for pre-qualification offers. Once you have received a pre-qualification proposal, you will need to submit an application at the bank. The process is fast and easy, and the process can be completed in as little as 60 seconds.
Pre-qualification is a great way to make sure you get approved for a credit card. Pre-approval signifies that the creditor has reviewed your financial and credit records and granted you approval to apply for a creditcard. Good news: Most credit card issuers offer prequalifications for their products. Applying for one won't decrease your chances of getting approved.
Set-up and maintenance fees
The set-up and maintenance fees for First Premier Bank credit cards can be high, depending on your credit limit. Annual fees can range from $120 to $174. Additionally, you'll be charged 3 percent foreign transaction fee and late payment charges. If you have an authorized user on your account, you'll pay another $29 per card each month. After 13 months, a fee equals 25 percent of the new credit limit.
First Premier Bank is a South Dakota bank that offers personal as well as business banking products. It's the thirteenth largest issuer of MasterCard brand credit cards in the US. But there are other banks that offer better credit card deals. First Premier Bank may not be the best choice. You can compare their credit card setup and maintenance costs with other banks.
Interest rates
First Premier Bank credit card interest rate is higher than many other credit cards. These credit cards are charged an average of 36% annual percent rate (APR), which is the highest rate a legitimate lender may charge. The rates are a significant drop from previous rates which were as high at 79.9% for purchases, and as high at 59.9% to cash advances. The company also doesn't offer an introductory APR on new purchases or balance transfers, which is a common feature of many other credit card companies.
First Premier Bank, which is located in South Dakota, has been around since over 90 years. It is one of the 20 largest MasterCard issuers in the U.S. and has received four Mastercard Performance Excellence Awards. This credit card issuer charges a 3.3% foreign transaction fees and reports payment information directly to the credit bureaus. The credit card issuer charges an $8 to 5% fee for cash advances. It also requires a security deposits.
Grace period
First Premier Bank gives you a 27-day grace after your purchase has been made. The grace period runs from the first day of your next billing cycle. You have ample time to repay the balance. You can avoid paying interest or other fees and keep your credit score high during this grace period.
The credit card's monthly fee is 36%. This is more than double the national norm. The set-up fee can be up to 95 dollars. Your credit card application may be denied if the minimum balance is not paid within eighty-five business days.