You need to be aware of the fees involved in applying for a credit card. These fees will vary depending on how much credit you have. You typically have the option to choose between $300 and $700. Important to look at the interest rate. You might also want to look into the grace period.
Pre-qualification can be a good indicator for credit card approval
Pre-approval is required if you want to apply for a First Premier Bank card. To pre-qualify, you must provide the issuer with your full name, current address, and last four digits of your social security number. The link to the issuer's website will allow you to search for a prequalification offer. Once you have received the pre-qualification offers, you need to apply to the bank. The application process is simple and quick, taking as little as 60 seconds.
Pre-qualification can be a good way for you to confirm your eligibility for a credit line. Pre-approval signifies that the creditor has reviewed your financial and credit records and granted you approval to apply for a creditcard. There are many credit card companies that offer pre-qualifications. You can apply for one to increase your chances of approval.
Setup and maintenance fees
First Premier Bank credit cards have high maintenance and set-up fees, depending on credit limit. Annual fees can cost anywhere from $120 - $174. You'll also be subject to 3 percent foreign transaction fees and late payment fees. A monthly $29 fee will be added if there is an authorized user to your account. If your credit limit needs to be increased after 13 month, you will have to pay a 25 percent fee.
First Premier Bank is a community bank in South Dakota that provides personal and business banking products. It's the 13th largest US bank to issue MasterCard brand creditcards. But there are other banks that offer better credit card deals. First Premier Bank's credit card setup and maintenance fees can be compared to other banks to see if you are able to avoid them.
Interest rates
First Premier Bank credit-card interest rates can be higher than most other cards. The average annual percentage rate (APR), charged by these credit cards is 36%. This rate is the highest a legitimate lender can charge. This rate is lower than the rates that were previously available, which could have been as high as 79.9% in purchases and as high as 59.59% for cash advances. It doesn't offer a introductory APR on balance transfers or new purchases, as many credit card companies do.
First Premier Bank is based out of South Dakota. They have been around for over ninety years. It is among the largest MasterCard issuers in America and has been awarded four Mastercard Performance Excellence Awards. The credit card issuer collects payment information from the three credit agencies and charges a foreign transaction fee of 3%. You will also need to pay a security deposit and an $8/5% fee for cash advances.
Grace period
First Premier Bank provides a grace period of 27 days after you make a purchase with your card. The grace period ends on the first of each billing cycle. This gives you plenty of time to pay off your balance. You will be able to avoid any interest or fees during this period and maintain a good credit rating.
The credit card's annual fees are 36 percent. This is almost double the national average. A set-up fee of up to 95 dollars will also apply. Finally, your credit application could be denied if you fail to pay the minimum amount within eighty five days.