First premier credit card
19 December 2009
Credit Ruin? Try First Premier Bank Gold Card
Credit Cards – everyone needs a credit card in this day and age. Many people have ruined their credit ratings and scores because of them. First Premier Bank Gold Credit Card is a card for those individuals with bad credit. However, there are some things that need to be understood when applying for this credit card (First premier credit card).
First, a person must understand that with the First Premier Bank Gold Credit Card, there are numerous fees. You have the account set up fee, which is $29.00, the program fee of $95.00, the annual fee which is $48.00 every year, a monthly service fee that is $7.00, and an annual $20.00 additional card fee if you decided to share this credit line with another person. With all these fees however, the minimum credit limit will be set at $250.00 and the other fees like the late fee which is $29.00, the over the credit limit fee $29.00, and the $25.00 credit limit increase fee when the account becomes eligible – makes this credit card an expensive credit card to have.
Now, a person who has had bad credit receives a low credit limit initially – after the first six months that person may be eligible for a credit limit increase. However, there are things the credit card company must consider before giving a person an increase in their credit limit. First, the credit decisions are based on the person’s credit scoring system which has all the payment history, over limit history, the amount of cash advances used, the number of payments returned to Credit Company as unpaid and the overall credit history. If a person has good standing in each of these categories then it stands to reason that they will receive a credit card limit increase.
The First Premier Bank Gold Card does allow cash advances. However, the initial cash advance limit will be 10% of the total credit limit a person has, which is generally $25.00. Now, the way for this cash advance limit to increase is if the account was open and active for a minimum of 90 days and has had two consecutive months of current payment history accounted for, and had no return payments for 60 days – then their cash advance availability may be increased to 50% of the assisted limited.
Now, a person may be thinking that all the fees and regulations for a credit card are grossly unfair. However, the reason there is such a tight control on this card credit is because First Premier only offers these types of cards to those who have a horrendous credit card record.
Getting the First Premier Bank Gold Card needs to be a wisely considered choice. Few credit card companies offer credit cards to people with bad credit because they are viewed as a great risk. Therefore, you can’t really fault this credit card company for charging all these fees because they are protecting themselves. However, if a person wants to better their credit rating then it is important for them to get a credit card and First Premier Bank Gold Card is a wonderful way to achieve that goal.