Tuesday, March 21, 2023

What Is Premier Credit Card

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First Premier Mastercard Review

(2021) First Premier Bank Card REVIEW // Unsecured Credit Card

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The First Premier Mastercard offers an alternative to a secured card for those who have bad credit or no credit at all. Unlike a secured card, the First Premier Mastercard requires no security deposit. Yet the card allows you to get approved even with bad credit, qualify for a credit limit as high as $1,000, and to build or rebuild your credit history. However, you must pay fees that can easily run to several hundred dollars a year and an extraordinarily high interest rate, should you carry a balance on the card.

As Much As $896 In Starting Spending Power

People with bad credit resort to unsecured cards in order to pay for something they cant afford in cash. And that is where the First PREMIER® Bank Mastercard Credit Card provides a modicum of assistance. You just have to fit a very specific profile.More specifically, you must:

  • Have $25 – $95 in cash
  • Be willing to wait for a new credit card to arrive
  • Need an emergency loan of $896 or less
  • Be unable to obtain the funds at a lower cost

This assumes you will have to pay a $25 processing fee and a $79 first-year fee in return for a $1,000 credit line, which would give you a total of $896 in spending power that you do not currently have . If you obtain a $1,000 credit limit, the monthly fee is also not waived, as with the $300, $400, or $500 credit limits, and you would have to pay during the first year an $8 monthly fee, which will rise to $10.4 in the second year. The same monthly fees are applied if you get a $700 credit limit, and a $5.85 fee per month in the first year, with $8.25 in subsequent years, if you get a $600 limit. Such an amount will ultimately prove insufficient for many people. But others could also say that its better than nothing.

Who Is The Ihg Rewards Club Premier Credit Card For

The IHG Rewards Club Premier Credit Card is a good option if you stay at IHG properties at least once per year as the free anniversary night certificate can cover one night of a multi-night stay or for a quick overnight trip.

You should also consider this card if you want IHG Platinum Elite status or the ability to get the fourth night free on 4+ night award stays.;

Another unique perk that can benefit air passengers is a Global Entry or TSA PreCheck application fee credit.;

However, each purchase earns IHG points that have the highest redemption value for hotel nights. Also, hotel points tend to be less valuable than airline miles or broad credit card points like Chase Ultimate Rewards or American Express Membership Rewards.

This card is subject to the Chase 5/24 guidelines and you wont qualify if you have added at least five or more new credit lines to your credit report in the past 24 months.

Benefits at a Glance
15.99% to 22.99% variable APRGreat Credit Score Required

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What Could You Do About The 3% Fx Fee

Like most credit cards, the HSBC Premier card comes with a 3% foreign exchange fee if used for spending abroad. You could however reduce this fee by connecting the HSBC Premier card to the Curve card reviewed in full here. By loading all your credit and debit cards to the Curve app youre able to use the Curve card and charge payments back to any of the linked cards . The Curve card has 0% FX fees and as such is a great option if youre travelling and would still like to earn points.

What Should I Know Before I Apply

First Premier Bank Mastercard Reviews: Pricey Option To ...

To apply for the First PREMIER® Bank Credit Card, youll need at least $245 to cover the deposit and fees. First PREMIER® Bank Credit Card determines your credit limit based on your credit score.

You also must:

  • Be at least 18 years old, or 21 if youre a permanent resident of Puerto Rico.
  • Live in any US state except for New York or Wisconsin.

When you apply, youll need to provide the following information:

  • Your full name, address, phone number and email address
  • How long youve lived at your current home
  • Your Social Security number
  • Whether or not you have a checking or savings account

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Do You Qualify For The Citi Premier

Here are the basic guidelines to have the best Citi Premier® Card approval odds:

  • FICO credit score of 700 or higher
  • Less than six hard credit inquires in the past 6 months
  • Havent earned a ThankYou new cardmember bonus in the last 24 months
  • Havent closed a ThankYou credit card in the last 24 months

If you already have another Citi credit card, make sure you wait at least 8 days after the first credit card application. You might wait closer to 6 or 12 months after the first application to establish a payment history and avoid getting penalized for having too new of an account.

You can also use the CardMatch tool to estimate your approval odds before you apply without affecting your credit score. Citi will still make a final decision once you submit a formal application.

Related:;Citi Premier Review

Understanding The Costs Of Premium Credit Cards

The APR on premium credit cards can also look very high often around the 50% mark.

This is because the annual fee has to be shown as part of the APR under Consumer Credit Act regulations.

So if the standard APR for purchases was 16.8%, for example, and the card had a £250 annual fee, the APR would have to be shown as 51.8% taking the fee into consideration.

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Consider Citi Premier Instead Of Chase Sapphire

One user, Sage512MB, reports applying for the Citi Premier after Chase wouldnt offer a credit limit increase on their existing Chase credit card.

They got instantly approved for a $2,000 limit with a 715 FICO score and a $50,000 annual income. While this is one of the lowest credit limits the Citi Premier Card offers, its a legit tradeline.

This Card Is Best For

First Premier Credit Card Review | SCAM
  • Motivated to create positive credit historyCredit Builder

The First Premier Mastercard is designed for applicants with poor credit who want to build or restore their credit history . Its also for such people who prefer not to come up with the security deposit required for a secured card, the leading alternative for those with no or damaged credit who want to improve their creditworthiness.;

However, while the First Premier Mastercard involves no security deposit, you must have up to $95 on hand for its program fee soon after you are approved for the card, and other charges follow. This, then, is not a card for those who hope to get credit and yet cant come up with money to begin that process.;;

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What Uk Cards Offer Better Perks

Alternative Free Cards

With a sign-up bonus of 10,000 reward points and an ongoing earning rate of 1 point for every pound spent, the American Express Gold card is currently one of the most generous credit cards on the market . Youll also receive 2 complimentary lounge passes and international travel insurance. From the end of the first year the card has an annual fee of £140 pa. At this point wed recommend most people cancel.; You can increase the sign-up bonus to 12,000 reward points by using this link.

Alternative Premium Cards

With an annual fee of £575 the American Express Platinum card is currently one of the most expensive cards in the UK market. That said if you travel a significant amount the benefits are likely to outweigh the annual cost . Read my review here for the full benefits offered and some detailed cost analysis to see whether it would be worth it for your spending/travel habits. The card comes with a sign-up bonus of 30,000 reward points which can be increased to 35,000 reward points if you use this link and scrolling down to the correct card.

Watch Out For Credit Card Scams

Offers of easy credit or credit without a credit check. No one can guarantee to get you credit. Before deciding whether to give you a credit card, legitimate credit providers examine your credit report.

  • Instructions to call a “900” number to apply for a credit card. You pay for calls with a “900” prefix –and you may never receive a credit card.
  • Any offer that sounds too good to be true. It almost certainly is. When you consider a legitimate credit card offer, it is always helpful to study the card offer closely, checking the annual fee , the interest rate, term penalty charges, and billing methods. Make sure you agree with all the terms before investing any time in further research.

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Insider Advice: Getting The Most Out Of Your Card

  • Improve your credit scores: Build a positive credit history by paying your bill on time, every time.
  • Pay your statement balance in full: Be sure to pay your statement balance in full each month to avoid having to pay interest. Additionally, itll help keep your credit utilization low which in turn can help your credit scores.
  • Know the facts: Read your card terms, as there are many fees to be aware of. Theres a program fee, monthly fee, annual fee, authorized user fee, copy fee, express delivery fee, and more.
  • Avoid the fees: Opt for paperless statements, dont lose your card, and limit the number of authorized users on your account. If you get a credit limit increase but dont want it, you can reject it by contacting customer support.
Insider tip

Looking for more information on rebuilding your credit scores? Heres our in-depth guide!

Check Your Eligibility For Credit Cards

First PREMIER Bank Mastercard® Credit Card
  • 1Improve your chances of being accepted
  • 2It won’t affect your credit score
  • 3It’s quick, free and easy

Uswitch Limited is a credit broker, not a lender, for consumer credit.

Our services are provided at no cost to you, but we may receive a commission from the companies we refer you to.

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How To Qualify For Complimentary United Premier Access

Complimentary United Premier Access is available to the following customers:

  • Members of the airlines MileagePlus Premier loyalty program who hold Silver status or above
  • Customers traveling in premium cabins including United Polaris business class, United First and United Business
  • Star Alliance Gold members
  • MileagePlus Club and Presidential Plus credit card holders

If you do not fall under any of the categories above, you still have the option to purchase Premier Access for an upcoming flight. For customers who purchase Premier Access, the perks include priority check-in, security lane access where available as well as priority boarding privileges; however, it will not include priority baggage handling.

Tip: Customers who are traveling on a Basic Economy ticket cannot purchase Premier Access. If you want to enjoy Premier Access perks, youll need to purchase a higher fare class.

As a bonus, any customer who is eligible for Premier Access benefits will automatically share the same privileges with any companions who are traveling on the same reservation, up to a maximum of eight additional travelers. This is perfect for families and groups who are traveling together.

If the benefits listed above sound appealing to you, but you do not want to pay for them, here are a number of ways you can earn complimentary Premier Access:

Secured Is Better And Cheaper

If you’re going to need to come up with $300 or more to get a credit card in your wallet in order to build your credit, you should at least be able to get that money back once your score has risen enough to qualify you for other cards. That’s why secured cards, with their refundable deposits, remain the best option for bad credit.

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Enrollment And Log In

  • How do I enroll on mypremiercreditcard.com?
  • Enter your;Credit Card Number and Social Security Number.
  • Create your;User Name and Password.;
  • A Valid User Name must be 8-12 characters long and contain no symbols or spaces.
  • A Valid Password must be 8-12 characters long and must include both upper and lower case letters and a number or a special character.;
  • Accept the website Terms of Use.
  • Request a passcode.
  • You can choose from a text, phone call or email to a phone number or email address on your account.;
  • Once you have your passcode, enter the code on the site, re-enter the password you created and select either private or public computer.
  • How do I Log-into mypremiercreditcard.com?
  • Enter your username and password on the Home page and click “Sign In”. If you forgot your username or password, click on the “Forgot Username/Password” link.

    If you are using a new browser, computer or have recently cleared your cookies, you may be required to obtain a new passcode for verification. You can select to receive the passcode via text message, phone call or email to a phone number or email address on file.

  • Any Other Hsbc Premier Benefits

    First Premier Credit Card Review 2021 – Bad Credit Mastercard

    In addition to the sign-up bonus, the HSBC Premier credit card offers the following main benefits:

    • An earnings rate of 1 point for every £1 spent on the card
    • Airport lounge access at £20 a visit
    • Free unlimited Wi-Fi

    Since the recent loss of numerous MBNA MasterCards the number of MasterCard products with high, continued earnings rates has dropped dramatically. For frequent-flyer rewards, this leaves only the two HSBC Premier credit cards and two new Virgin Atlantic credit cards offering reasonable earnings rates. The free HSBC Premier card offers 1 point for every £1 spent. These points can be transferred to 4 airline loyalty programmes at a rate of 2 points to 1 frequent-flyer mile. As such youll be earning 0.5 frequent-flyer miles for every £1 spent. Although somewhat difficult to compare, this is less than the free Virgin Atlantic Reward credit card which offers 0.75 Flyer Club Miles for every £1 spent. Ill cover the value of a HSBC Premier Rewards point a little later in this article.

    Holders of the HSBC Premier MasterCard UK credit card will have access to over 750 lounges through LoungeKey. Each visit will cost £20 which is similar to the rate offered by Lounge Club and is issued with the American Express Gold card although the Gold card also offers 2 complimentary visits.

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    How To Apply For Bank Of Baroda Premier Credit Card

    To apply for BOB Premier Credit Card, customers need to download the application form from the BOB official website, fill in the required details, attach the supporting documents and submit it at the nearest BOB bank branch office.

    BOB Premier Credit Card application is available on the webpage https://www.bobfinancial.com/documents/Application%20form_Final.pdf.

    Fill all the details accurately, sign in the appropriate boxes, paste a recent photograph, attach the required documents and submit it at any of your nearest BOB bank branch offices.

    Alternatively, you can also send an SMS to apply for BOB Premier Credit Card from your registered number in the format mentioned below.

    ‘Apply <your city>’ to 9223990624

    The bank will give you a call and will take you through the application process.

    What Does ‘most Popular’ Mean

    When we use the term most popular on Uswitch in reference to credit cards, these cards are ranked by the number of clicks they have received on the site in the past 48 hours.

    The most clicked on cards are at the top, with the least at the bottom. This reflects how popular they are with visitors to Uswitch.com. Consequently, this is a good table to look at if youre interested in seeing which cards most people think are worth getting.

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    First Premier Credit Card Review: Bad Option For Bad Credit

    Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list ofour partnersandhere’s how we make money.

    For people struggling to raise their credit scores, the credit cards offered by First Premier Bank might initially seem attractive. But once you get past that first glance, things get ugly in a hurry.

    The primary appeal of First Premier cards is that they are “unsecured.” That means that, unlike secured credit cards, they don’t require an upfront security deposit. Minimum deposits for secured cards are typically $200 to $300, and some people simply can’t afford to lock up that much money in a deposit.

    Even without requiring a deposit, First Premier cards still get their hands deep into your pockets right away, piling on fees from the get-go and charging some of the highest interest rates in the industry.

    » Want a better, cheaper option?See our best credit cards for bad credit

    Interest Rates And Interest Charges

    First PREMIER Bank Credit Cards: Compare & Apply ...

    If you pay your statement balance in full each month and dont use cash advances, you should be able to avoid interest charges. But its a good idea to at least know what the interest rates and interest charges are on your card.

    The First Premier Bank Credit Card has one of the highest annual percentage rates for purchases as well as cash advances that Ive seen, at 36%. Luckily, your due date is at least 27 days after the close of each billing statement, and you wont be charged interest on purchases as long as you pay your entire balance by the due date each month.

    Youll be charged interest on cash advances starting on the transaction date, though. So, if you use a cash advance , you should pay off your entire balance as soon as possible after doing so.

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