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Here’s Why You Should Attend First Premier Mastercard | first premier mastercard

The First Premier Mastercard is basically an unsecured credit card that you are approved for even if your credit history is bad, albeit with a limited credit limit that can be as low as $ 300. Extremely Expensive and Dense Fees: This particular card also has a lot of Expensive and Dense Fees, and you are constantly paying these off, even when you don't use your card. These kinds of fees and charges are the major reasons why people do not get First Premier credit. They will end up paying way too much interest.

First Premier Credit Card Requirements: You are required to have a very good income status, and a CCJ (Certified Default Driver) or an equivalent issued by the American car insurance company. This would assure that you are able to pay your monthly payment on time, as well as not get into any financial difficulties. It is also required that you do not have any outstanding loans against your name, as this also results in high APR (Annual Percentage Rate). This is basically because you cannot be trusted to use your First Premier Mastercard properly, and hence, high APR and high interest fees are inevitable.

High Annual Fee: This particular credit card has a high annual fee of around $30, and this can prove to be quite a burden for many consumers who are just starting out in their savings, and have very little available credit. While this high annual fee might be okay for someone who has a steady income, it might be a huge problem for those people who are making their payments monthly. It is because this annual fee will be charged irrespective of the amount you owe and hence, you cannot avoid it. So, you need to make sure that you pay off your balance as soon as possible.

No security deposit: The other disadvantage of this First Premier Mastercard includes the absence of a security deposit, which means that the consumer is required to get credit protection. This is done by making a security deposit and then using the money as the credit limit. Hence, if you happen to miss a payment, you will have to get this money from your security deposit. Apart from the fact that this can prove to be inconvenient, this can also result in high APR as the amount of security deposit will be forfeited along with your interest charges, if you are unable to settle your balance.

Unsecured: Although First Premier Mastercard offers unsecured credit cards, there are some points that need to be looked at before applying. There is no security deposit required, so this means that the consumer will be responsible for the first few months of the card without any security deposit. For people with poor credit, this can prove to be a big disadvantage as this can result in a long period where they will pay a higher APR than with a secured card.

High fees: Like with all other cards, there are many fees that are associated with First Premier Mastercard. These include annual fees, ATM membership fees, application and maintenance fees, and the annual statement fee. In addition, there is a service charge as well. Most of these fees are unnecessary, but if you wish to apply for it, you will have to pay for it. The best way to avoid this fee is to ensure that you apply early enough so that you do not have to pay any of these fees. If you apply late, you will just be hit with an additional fee.

High Requirements: Like all other credit cards, First Premier Mastercard requires that you have a score of at least 650. The score is determined by a mathematical algorithm, which is why this score cannot be measured in raw numbers. What matters the most is the actual number of positive credits and the actual number of bad credits that you have on your record. This might seem like a high number, but if you can show that you have paid off your debts on time, and that your credit limit is always sufficient to cover your needs, then you will be able to get approval for a First Premier Mastercard. The important thing to remember is that the approval process takes a lot longer for people with lower FICO scores.

The above points are just a few of the many that are available when you compare First Premier Mastercard with other cards. If you have a poor credit score or even if you do not have a poor credit score, you should still be able to get a card. It will just take a bit more work. A credit card might be the one thing that can help you improve your financial situation.


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