Build your credit with a deposit as low as $300 — but watch out for fees.
With an annual fee of up to $125 per year, this secured card reports to all major credit bureaus — potentially building your credit.
- Get this card if… You’re looking to build your credit and can pay off your bill each month.
- Pick something else if… You’re looking for a card without fees.
- Recommended poor to fair credit of 0 to 300 to apply.
|Product Name||First PREMIER® Bank Secured Credit Card|
|APR (Annual Percentage Rate) for Purchases||19.9% variable|
|Cash Advance Rate||19.9% variable|
|Cash Advance Fee||$6 or 5% of the cash advance amount, whichever is greater|
|Foreign Transaction Fee||3% of the transaction amount|
|Interest Free Period||Up to 27 days|
|Late Payment Fee||$38|
|Returned Payment Fee||$35|
|Additional Cardholder Fee||$0|
|Minimum Age||18 years of age|
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 a $100 increase, you’re charged $25, giving you only a $75.
There is a bright side — pay your bill and build good credit and you could move up to a less expensive, unsecured credit card.
What’s great about this card?
This card is OK if you’re trying to rebuild your credit and move to a less expensive, unsecured card.
- Qualify regardless of credit score. Poor or no credit, all you need is $300 to open the card.
- Extra time to pay deposit. You have 85 days to fund your initial $300 deposit.
- Reports to all credit bureaus.