It is important to understand the cost of a credit-card application. The credit limit you choose determines how much these fees. You have the choice of between $300 and $700. You should also consider the interest rates. You might also want to look into the grace period.
Pre-qualification can be a good indicator for credit card approval
You must first be pre-approved to apply for a First Premier Bank credit cards. To pre-qualify, you must provide the issuer with your full name, current address, and last four digits of your social security number. You can also search for a pre-qualification offer by clicking on the link provided on the issuer's website. You must apply to the bank after you receive a prequalification offer. The application process is simple and quick, taking as little as 60 seconds.
Pre-qualification will help you ensure you are approved for credit cards if you are interested. Pre-approval, which is a sign that the credit provider has reviewed your financial information and given you the go-ahead to apply for a card, is a good indicator of how credit-worthy you are. Good news is that pre-qualifications are available for most credit card issuers. If you apply for one, your chances of being approved will not be diminished.
Setup and maintenance fees
Depending on your credit limit, the set-up and maintenance costs for First Premier Bank credit card cards can be very high. Annual fees can cost anywhere from $120 - $174. Additional fees include late payment fees and foreign transaction fees of 3 percent. An additional $29 per month is charged to each card that has an authorized person. If your credit limit needs to be increased after 13 month, you will have to pay a 25 percent fee.
First Premier Bank of South Dakota is a bank that serves the community. It offers both personal and business banking services. It's the 13th largest US bank to issue MasterCard brand creditcards. But there are other banks that offer better credit card deals. First Premier Bank's credit card setup and maintenance fees can be compared to other banks to see if you are able to avoid them.
Interest rates
First Premier Bank credit-card interest rates can be higher than most other cards. These credit cards have an average 36% annual percentage rates (APR) which is the highest rate that a legitimate lender could charge. However, this is a step down from previous rates, which were as high as 79.9% for purchases and 59.9% for cash advances. The company also doesn't offer an introductory APR on new purchases or balance transfers, which is a common feature of many other credit card companies.
First Premier Bank is based in South Dakota and has been around for over 90 years. It is one of 20 largest MasterCard issuers across the U.S., and has received four Mastercard Performance Excellence Awards. This credit card issuer has a 3% foreign transaction fee. It also reports payment information on the three credit bureaus. Cash advances are subject to a fee of $8 or 5% and require a security deposit.
Grace period
First Premier Bank provides a grace period of 27 days after you make a purchase with your card. The grace period runs from the first day of your next billing cycle. You have ample time to repay the balance. You will be able to avoid any interest or fees during this period and maintain a good credit rating.
The credit card's annual fees are 36 percent. This is almost double the national average. An additional set-up fee up to 95 Dollars will apply. Finally, your credit application could be denied if you fail to pay the minimum amount within eighty five days.