Apply for First Premier Credit Card: The First Premier Credit Card is designed for individuals with poor or limited credit who want to establish or rebuild their credit history. This card offers an accessible way to prove financial responsibility, even if your credit score isn’t where you’d like it to be.
So, is this the card for you? Let’s find out!
Benefits of the First Premier Credit Card
One of the most appealing aspects of the First Premier Credit Card is its focus on helping people rebuild their credit. Here are some benefits you can expect:
- Reports to Credit Bureaus: Payments are reported to the major credit bureaus, helping to improve your credit score over time.
- No Credit Check for Prequalification: You can see if you’re prequalified without impacting your credit score.
- Simple Application Process: A straightforward online or offline application is available.
- Easy Approval: With minimal credit history required, you stand a better chance of approval.
Eligibility Requirements
Before applying, it’s essential to check if you meet the eligibility criteria. Here’s what First Premier typically looks for:
- Age Requirement: Applicants must be at least 18 years old.
- Proof of Identity: A valid Social Security Number or Taxpayer Identification Number is required.
- Income Requirement: You need a stable income source to prove you can make monthly payments.
- U.S. Residency: Applicants must be residents of the United States.
How to Apply for the First Premier Credit Card
The application process is quick and easy, and you can do it online or offline. Follow these steps:
Step-by-Step Process
Visit the Official Website
Head to the First Premier Bank’s official website. On the homepage, click on “Credit Cards” to access the application portal.
Check for Prequalification
Enter basic information such as your name, address, and Social Security Number to see if you’re prequalified. This step won’t affect your credit score.
Fill Out the Application Form
Complete the form with your personal, financial, and employment details. Ensure all the information is accurate.
Submit Your Application
Review the details and click “Submit.” You’ll receive a confirmation email after applying.
Wait for Approval
If approved, you’ll receive your card in the mail within 7–10 business days.
Understanding the Fees and Rates
The First Premier Credit Card is known for its higher fees, which applicants should fully understand before applying.
- Annual Fee: Depending on your creditworthiness, the fee ranges from $50 to $125.
- Program Fee: A one-time setup fee that varies but can be up to $95.
- APR: The annual percentage rate for purchases is high, often above 35%.
Documents Needed for Application
To ensure a smooth application process, keep the following documents ready:
- Proof of Identity: A government-issued ID such as a driver’s license or passport.
- Proof of Address: Utility bills or rental agreements to confirm your address.
- Proof of Income: Recent pay stubs, tax returns, or bank statements.
Credit Score Considerations
The First Premier Credit Card is ideal for those with a low credit score (usually below 600) or no credit history at all. While having a bad credit score won’t automatically disqualify you, you’ll likely face higher fees.
How to Use the Card Responsibly
Once approved, you’ll want to make the most of your card to improve your credit score. Here are some tips:
- Pay on Time: Ensure your payments are made before the due date to avoid late fees.
- Keep Balances Low: Aim to use less than 30% of your credit limit.
- Monitor Your Credit: Regularly check your credit score to track improvements.
Pros and Cons of the First Premier Credit Card
Pros:
- Easy approval for those with bad credit.
- Reports to major credit bureaus.
- No credit check required for prequalification.
Cons:
- High fees and APR.
- Low credit limits.
- Limited perks and rewards.
How Long Does Approval Take?
Approval typically takes a few minutes for online applications. If additional verification is needed, it may take up to a week.
How to Check the Status of Your Application
To check your application status:
- Visit the First Premier website and log in.
- Call their customer service at 1-800-987-5521 for updates.
Alternatives to the First Premier Credit Card
If you’re hesitant about the fees, consider alternatives like:
- Capital One Secured Card: Low fees and refundable security deposits.
- Discover it® Secured Credit Card: Cashback rewards and no annual fee.
What Happens If You’re Denied?
If your application is rejected, don’t panic. Here’s what to do:
- Review the Reason for Denial: The bank will provide a detailed explanation.
- Check Your Credit Report: Look for any errors or areas for improvement.
- Reapply Later: Work on improving your credit score before applying again.
FAQs about Applying for a First Premier Credit Card
1. What are the eligibility requirements for a First Premier Credit Card?
To apply for a First Premier Credit Card, you must meet certain eligibility criteria including age (you must be at least 18 years old), a valid social security number, and a US residency status. Additionally, your credit history may be evaluated to determine eligibility.
2. How can I apply for a First Premier Credit Card?
You can apply for a First Premier Credit Card online through the First Premier website. The application process involves filling out a form with your personal and financial information. You may also need to provide documentation to verify your identity and income.
3. What kind of credit score do I need to apply for a First Premier Credit Card?
First Premier Credit Cards are often available to individuals with a wide range of credit scores. They may offer options for people with less than perfect credit, but it’s advisable to check the specific requirements for the card you’re interested in.
4. Are there any fees associated with a First Premier Credit Card?
Yes, First Premier Credit Cards may come with various fees including annual fees, monthly service charges, and processing fees. It’s important to review the fee structure of the specific card you are considering before applying.
5. How long will it take to get a decision on my application?
The decision time can vary, but First Premier typically provides a response on credit card applications within a few minutes if you apply online. However, if additional information or documentation is required, it could take longer.
6. What should I do if my application for a First Premier Credit Card is denied?
If your application is denied, First Premier will provide you with information and the reason for denial. You have the right to a free copy of the credit report used in the decision process. Reviewing the reasons for denial can help you understand areas where you may need to improve your credit standing.
7. Can I increase my credit limit after getting a First Premier Credit Card?
Yes, after responsible usage and regular review of your account, First Premier may offer you a credit limit increase. However, this is not guaranteed and depends on factors such as your credit behavior and payment history.
Conclusion
The First Premier Credit Card is a helpful tool for those aiming to build or repair their credit. While the fees can be steep, the opportunity to rebuild your financial reputation often outweighs the drawbacks.
