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First PREMIER® Bank Secured Credit Card review

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Build your credit with a low deposit — but watch out for fees.

  • Get this card if you’re looking for a secured card to build your credit.
  • Pick something else if you’re looking for a card without an annual fee.
  • Apply with a poor credit score or with no credit history.


Annual fee


Purchase APR (variable)


Recommended credit score


Product NameFirst PREMIER® Bank Secured Credit Card
Card typeMastercard
Annual fee$125
Purchase APR36% variable
Balance transfer APRN/A
Cash advance rate36% variable
Cash advance fee$8 or 5% of the cash advance amount, whichever is greater
Foreign transaction fee3% of the transaction value
Interest free periodUp to 27 days
Late payment feeUp to $38
Returned payment feeUp to $38
Additional cardholder fee$0

Expert review

Kliment Dukovski

Review by

Kliment Dukovski is a credit cards writer. He's written over 600 articles to help readers find and compare the best credit cards. Kliment has also written on money transfers, home loans and more. Previously, he ghostwrote guides and articles on foreign exchange, stock market trading and cryptocurrencies.

Expert review

The First PREMIER® Bank 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 $300 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.

Card benefits

  • Low qualification requirements. Even if you have poor or no credit, all you need is a $300 deposit to open the card.
  • Extra time to pay deposit. You have 85 days to fund your initial $300 deposit. Once you fund your account, you can use your card.
  • Build credit. Each month your credit history is reported to Experian, Equifax and TransUnion. With responsible card use, you can build your credit.

What to watch out for

  • Annual fee. There’s a $125 annual fee for the card. This is on the higher end for a secured credit card. If you don’t want to pay an annual fee, consider a no-annual-fee secured card.
  • Foreign transaction fees. Every time you use your card abroad or online at foreign merchants, you’ll pay a 3% fee of the amount.
  • Credit limit increase fees. First Premier provides an unsecured credit limit increase. However, each time you increase your limit, First Premier charges 25% of the increase.
  • Cash advance limits. You can only take out 10% of your initial deposit as a cash advance for the first 90 days. After that, your cash advance limit may increase to 50% of your credit limit.

What should I know before I apply?

To apply for the First PREMIER® Bank 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:

  • Contact information including your full name, address, phone number and email address
  • Your Social Security number

How to apply for the First PREMIER® Bank Secured Credit Card

  1. Visit First Premier website.
  2. Locate the First PREMIER® Bank Secured Credit Card and click Apply now.
  3. Fill out the application form.
  4. Review the form and submit.
  5. Make a secured deposit.

What credit score do I need?

You can apply with no credit history or with poor credit score.

How long will it take to get approved?

You’ll get a response within a minute of submitting your application.

Compare secured cards

Name Product Filter values Minimum deposit required Purchase APR Annual fee Recommended minimum credit score
OpenSky® Secured Visa® Credit Card
Starting at $200
17.39% variable
Apply for this card with no credit check if you're new to credit or have bad credit.
Assent Platinum 0% Intro Rate Mastercard® Secured Credit Card
Starting at $200
0% intro for the first 6 months (then 12.99% variable)
A rare secured card with a 0% intro APR on purchases for 6 months, followed by 12.99% variable.
First Progress Platinum Elite MasterCard® Secured Credit Card
Starting at $200
19.99% variable
Build your credit with all three major credit bureaus.
Applied Bank® Secured Visa® Gold Preferred® Credit Card
Starting at $200
9.99% fixed
No credit check is required for this secured card. Make a deposit of at least $200 to open this card and get a low 9.99% fixed APR on purchases.
Self Visa® Credit Card
Starting at $100
21.74% variable
Build your credit with a low minimum security deposit of $100 and no credit score required.

Compare up to 4 providers

Bottom line

The First PREMIER® Bank Secured Credit Card is like a taxi — it will help you build up your credit score, 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.

Frequently asked questions

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  1. Default Gravatar
    July 10, 2019

    Do everybody get approve?

    • Avatarfinder Customer Care
      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!


  2. Default Gravatar
    May 16, 2019

    I just ordered a card. When should I be expecting it?

    • Avatarfinder Customer Care
      May 17, 2019

      Hello Thomas,

      Thank you for your comment.

      It may take 7-10 business days for you to receive the card.


  3. Default Gravatar
    October 5, 2018

    Can get funds into my card in the first few days I pay my security deposit

    • Avatarfinder Customer Care
      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.


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