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$50
Annual fee
19.9%
Purchase APR
300
Recommended credit score
Annual fee | $50 |
---|---|
Annual fee conditions | NOTICE: Some of these set-up and maintenance fees will be assessed before you begin using your Card and will reduce the amount of credit you initially have available. Based on your initial credit limit of $200.00, your initial available credit will be only about $150.00. |
Welcome offer | N/A |
Rewards | N/A |
Purchase APR | 19.9% |
Balance transfer APR | N/A |
Minimum Credit Score | 300 |
Issuer | Mastercard |
Review by
Kliment Dukovski is a cryptocurrency and investments writer who has written over 700 articles to help readers find and compare the best financial options. Kliment has also written on money transfers, home loans and more. Previously, he ghostwrote guides and articles on foreign exchange and stock market trading.
The PREMIER Bankcard® Secured Credit Card is a starter card for people with poor credit who want to improve their financial situation — but watch out for the fees.
This secured card requires a minimum $200 cash deposit that becomes your credit limit. After 13 months you’re eligible for a credit limit increase (an increase that does not require an additional deposit), but you’ll pay a 25% fee on the increase. So, for every $100 increase, you’re charged $25.
There is a bright side — pay your bill and build good credit and you could move up to a less expensive, unsecured credit card.
You can apply with no credit history or with poor credit score.
You’ll get a response within a minute of submitting your application.
To apply for the PREMIER Bankcard® Secured Credit Card, you must be at least 18 years old (or 21 for resident of Puerto Rico). This card is not available to residents of New York or Wisconsin.
When you apply, have the following handy:
The PREMIER Bankcard® Secured Credit Card is like a taxi — it will help you build up your credit score if you pay your balance off in full each month, but get out once you’ve reached your destination. Use it to build your credit, but don’t hang on to it once you’ve met your goal.
Consider comparing secured cards to find the right card that best meets your needs.
6 Comments
July 10, 2019
Do everybody get approve?
July 12, 2019
Hi Mario,
Thank you for getting in touch with Finder.
So long that the applicant meets the eligibility requirement, yes. Please note that this card requires a minimum $300 cash deposit that becomes your credit limit.
If you consider applying for this card, please make sure though to read the eligibility criteria, features and details of the card, as well as the relevant PDS/ T&Cs of the card before making a decision and consider whether the product is right for you.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
May 16, 2019
I just ordered a card. When should I be expecting it?
May 17, 2019
Hello Thomas,
Thank you for your comment.
It may take 7-10 business days for you to receive the card.
Regards,
Jhezelyn
October 5, 2018
Can get funds into my card in the first few days I pay my security deposit
October 6, 2018
Hi Lindell,
Thanks for reaching out!
Your security deposit will act as your credit limit. Withdrawing funds from this account after approval may mean a decrease of credit limit. Also, take note of any fees associated with his account We suggest to please contact First Premiere Bank directly.
Hope this clarifies! For any clarifications, please message us again.
Regards,
Nikki