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PREMIER Bankcard® Grey Credit Card review

Use this card to work on your credit, but expect high fees and an APR.

  • Get this card if you’re looking to build your credit and move away from short-term loans.
  • Pick something else if you don’t want to pay the steep application and annual fees.
  • Apply with poor to fair credit score of 300 to 669.
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Purchase APR


Recommended credit score


Annual feeSee terms
Welcome offerN/A
Purchase APR36%
Balance transfer APRN/A
Minimum credit score300

Review by

Kliment Dukovski is a personal finance writer at Finder, specializing in investments and cryptocurrency. He's written more than 700 articles to help readers compare the best trading platforms, understand complex investment terms and find the best credit cards for their needs. His expert commentary has been featured in such digital publications as Fox Business, MSN Money and MediaFeed. He’s also well-versed in money transfers, home loans and more — breaking down these topics into simple concepts anyone can understand. In another life, Kliment ghostwrote guides and articles on foreign exchange, stock market trading and cryptocurrencies.

Expert review

Let’s face it — this is an expensive card when compared with other credit cards on the market. It costs $95 to get the card, plus an annual and monthly fee — and it carries a whopping 36% APR. It’s a tough sell for a credit card.

However, your overall cost for the PREMIER Bankcard® Grey Credit Card is substantially less than what you’d pay for to take out payday loans over a year.

How do I apply for the card?

  1. Go to the First Premier Bank site and click Apply today in the green box at the bottom of the page.
  2. Answer a few questions about your financial situation and click Continue.
  3. Enter your personal and contact information and click Continue.
  4. Your information is sent for approval.

How long will it take to get approved?

You’ll get a response within a minute of submitting your application. In some instances, PREMIER Bankcard® Grey Credit Card will take an additional seven to 10 days to determine approval and send you a response by mail. If you have questions about the status of your PREMIER Bankcard® Grey Credit Card application, call 800-987-5521.

The perks

  • Poor or no credit accepted. You can get approval with a credit score as low as 300.
  • Bonus cash. Enroll in online statements within your first 30 days when you open your account and get a $10 statement credit.
  • Build your credit. This credit card reports to all three credit bureaus. Pay off your monthly balance with regular, on-time payments and you could improve your credit.

What to watch out for

  • Complex fee structure. The PREMIER Bankcard® Grey Credit Card‘s annual and monthly fees depends on your credit limit. But expect to pay a:
    • One time program fee payment from $25 to $95.
    • An annual fee from $79 to for the first year and then $45 to $49 annually after that.
    • Monthly fee from $5.85 to $8 for the first year, and then from $6.25 to after that.
  • High APR. The 36% interest rate is significantly more than you’ll find with other cards.
  • Foreign transaction fees. Expect to pay a 3% fee of the amount of each transaction made abroad or online with foreign merchants.

Compare cards for building credit

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A secured credit card could be a cheaper option.

Most secured credit cards require you to deposit a certain amount, often starting from $300, which acts as your credit line.

If you can cover the initial cost, you could save more money in the long run and build your credit at the same time.

What should I know before I apply?

To apply for the PREMIER Bankcard® Grey Credit Card, you’ll need at least $245 to cover the deposit and fees. PREMIER Bankcard® Grey Credit Card determines your credit limit based on your credit score.

You also must:

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

When you apply, you’ll need to provide the following information:

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

What customers are saying about the PREMIER Bankcard® Grey Credit Card

The Better Business Bureau gives First Premier Bank an A+ rating, but of the 11 reviews on the site, 10 are negative. Most cite poor communication and customer service. Though, First Premier attempts to resolve issues on the BBB site.

I got the PREMIER Bankcard® Grey Credit Card. Now what?

  • Keep a close eye on how much you’re spending. Don’t get caught spending money on interest on top of fees. The PREMIER Bankcard® Grey Credit Card is expensive and is better suited to build your credit and fund emergencies rather than cover everyday expenses.
  • How to make payments. Make on-time payments by phone at 800-987-5521, mail or on its site.
  • How to avoid interest. Pay your minimum payments on time or your balance in full. If you make payments in increments, make at least the minimum payment by the due date each month. The payment due date will be on the same day every month.
  • Keep your account in good standing. Improve your credit by making on-time payments and paying your balance each month. This can increase your ability to qualify for a credit card with fewer fees and a lower APR.

Bottom line

The PREMIER Bankcard® Grey Credit Card comes with hefty fees that are most attractive for people getting out of the payday loan cycle and looking to build their credit.

Because of the high fees, you may want to shop for other credit-building cards until you find an option that matches your needs.

Frequently asked questions

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