My Premier Credit Card

The Premier bank credit card was founded in 1898 as a way for people to obtain a credit card who had imperfect credit or credit issues. As one of Visa, and MasterCard’s top 20 issuers in the United States, Premier has been able to serve millions of customers throughout the country. The company has received Master cards Performance Excellence Award four times in a row.

With My Premier Bank, having high core values in fairness, consistency, and respect while striving to be a leader in the financial services industry, they are committed to achieving excellence in the way the business is operated. When dealing with customers with poor credit they really stand out in a field of credit card issuers who either seek prime customers with excellent credit or take advantage of those with poor credit.

First Premier Bank Quick Facts

First Premier bank provides a variety of services that range from loans to treasury services. They also offer traditional banking products like savings and checking accounts for customers. Although they are independently operated, the First Premier bank, and First Premier Bank Card are sister organizations working together under the United National Cooperation to provide the most efficient and convenient services to the public.

Getting started

When first applying for the My Premier Credit Card (aka mypremiercreditcard), the application can be completed online. The approval can be in as little as 60 seconds. In attaining a My Premier Credit Card, you will receive a card with a MasterCard logo. This card can be used anywhere MasterCard is accepted. This includes millions of brick and mortar retailers around the globe and online retailers.

When applying for the My Premier Credit Card the card offers a history report feature. This feature indicates that the payment history will be reported to all three credit bureaus. Purchases and account activity can be tracked through an online account or from any mobile or home device. This feature provides effective account management and provides the ability to improve the customer’s credit score as you build a history of on time payments.

Each application requires the applicant to pay a one-time $95.00 processing fee. This will open your account and allow you access to a starting credit limit of around $300.00. Monthly and annual fees will be subtracted from the balance that is available for spending purposes. It is important to check the available limit before using the card. This will provide the customer with the tools to get your credit score up.

Interest Charges

The interest rate for the My Premier Card is a variable rate starting at 36%. The same rate of 36% interest is charged for all cash advances. If the balance on the account is paid in full each month, by the due date, then the cardholder will not incur any interest charges. When the card is paid in full each month there is a minimum of 27 days from the last purchase that will be interest free. If you carry a balance from month to month, then the charged interest will be a minimum interest charge of no less than $1.00. Interest will be charged from the date of each transaction, with no interest free period if there is a balance carried forward.

Fees, Rates, Costs, and Limitations on First Premier Bank Cards

Other fees associated with the My Premier Credit Card include a $95.00 processing fee that is charged at the time of the application. This is a one-time fee that is charged to cover the costs of the account set up.

The card has an annual fee which will be $75.00 for the first year and a $45.00 annual credit card fee for every year following. There will be no monthly fees charged during the first year after the account is opened. However, after the first anniversary of the card a $6.25 monthly fee will be charged. This totals to a fee of $75 per year, in addition to the annual fee.  

A few other fees to be aware of are penalty fees. The two penalty fees that can be incurred include a late fee and a return item fee. The My Premier Credit Card will charge a late fee if the payment is one day late, from the due date. This fee can be as much as $35.00 based on the outstanding balance at the time of the late payment. If the payment is over 30 days late then the delinquency will be reported to the credit bureaus. The second penalty is a return item charge which is a fee of up to $35.00. This fee is charged is a check or automatic payment is returned.   

There are also three transaction fees to be aware of. The card charges a foreign currency transaction fee. This is 3% of each transaction and is charged for all international purchases. It could apply to online purchases made to companies originating in a country other than the US. There is a cash advance transaction fee which is 5% of the amount of cash advance or a $6.00 charge whichever is of greater value. There also may be a copying fee of up to $3.00 should you request a sales draft copy, transaction copy or other document.