The fees for credit cards are something you should know before you apply. These fees depend on your credit limit. The fees range from $300 to $700. Important to look at the interest rate. Also, be sure to review the grace period.
Pre-qualification provides a good indication of 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. A link is provided on the website of the issuer to help you search for a prequalification opportunity. You must apply to the bank after you receive a prequalification offer. 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 means that the credit card issuer has reviewed and approved your credit and financial history. The good news is that most credit card issuers offer pre-qualifications for their products, and applying for one doesn't hurt your chances of being approved.
Setup and maintenance charges
First Premier Bank credit-card maintenance and setup fees can be quite high depending on your credit limit. Annual fees can be anywhere from $120 to $174. The fees can also include 3 percent foreign transaction fees as well as late payment fees. 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, a South Dakota community bank that offers personal and business banking products, is located in South Dakota. 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 is not the right bank for you. Compare their maintenance and credit card set-up fees with those of other banks.
Interest rates
First Premier Bank credit card rates are higher than other credit cards. These credit cards have an average 36% annual percentage rates (APR) which is the highest rate that a legitimate lender could charge. However, these rates are lower than previous rates, which ranged from 79.9% to cash advances and 59.9% to purchases. The company doesn't offer an APR introductory on new purchases or balance transfer, which is a common feature among many credit cards companies.
First Premier Bank is located in South Dakota. It has been in existence for more than 90 years. It is among the largest MasterCard issuers in America and has been awarded four Mastercard Performance Excellence Awards. The credit card issuer also charges a 3% foreign transaction charge and reports payment information to three credit bureaus. Additionally, it charges an $8 or 5% fee for cash advances and requires a security deposit.
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. During this time, you'll be able to avoid paying interest and other fees while keeping your credit score high.
The annual fee for the credit cards is 36 percent. This is nearly twice the national average. A set-up fee of up to 95 dollars will also apply. Your credit card application may be denied if the minimum balance is not paid within eighty-five business days.