table of contents Expand

  • Pros Explained
  • Cons Explained
  • How to Get the Most Out of the Card
  • Other Features
  • Customer Experience
  • Security Features
  • Fees to Watch Out For

The First PREMIER Bank Mastercard is aimed at people looking to build or rebuild their credit score. Unfortunately, we can’t recommend this card as a first-choice credit repair option due to the number of fees it has. 

If you want to use credit cards to help build your credit, there are better options. Learn how credit scores work, and then consider applying for a secured card. While secured cards usually require a refundable deposit, they’re still generally cheaper than this card from First PREMIER Bank. Remember, the more money left in your pocket at the end of the month, the more money you’ll have to get ahead financially and lift up your credit score.

New York and Wisconsin residents are not eligible for this card.

Pros

  • Accessible for applicants with poor credit

  • Free FICO credit score

Cons

  • High set-up, annual, and monthly fees

  • High interest rate

  • High credit limit increase fee

Pros Explained

  • Accessible for applicants with poor credit: First PREMIER Bank will approve even those with bad credit. Even so, you have many other options for rebuilding credit. 

Cons Explained

  • High set-up, annual, and monthly fees: It’s not uncommon for credit cards to charge annual fees. What is uncommon is for a credit card to charge monthly fees as well. You’ll also have to pay a one-time “program fee” in addition to the usual suite of fees other credit cards charge. 
  • High interest rate: This card charges about double the average credit card APR. It’s on the high end, even for credit cards marketed towards people with bad credit. 
  • High credit limit increase fee: One of the ways to boost your credit score is by getting a higher credit limit. If you’ve demonstrated responsible payment behavior, most issuers will do this for free. In contrast, with First PREMIER Bank, you’ll pay a fee of 25% of the credit limit increase. For example, if your credit limit increases by $200, you’ll pay a $50 fee.

How to Get the Most Out of This Card

We do not recommend using this card because of its numerous, expensive fees. However, if you still plan to get it or already have it, the best way to use it is to pay off your balance every week. Doing so keeps your restrictive credit limit open for purchases, ensures you don’t pay late, and keeps your balance low. These three factors can help increase your credit score over time.

First PREMIER Bank Mastercard’s Other Features

  • Credit protection: If you lose your job involuntarily, are hospitalized, go on unpaid family leave, or become disabled, this program may cover your minimum payments for a certain period of time. It’s not free, however; you’ll have to opt into this service, and it’ll cost you $0.89 for every $100 of your outstanding balance covered per month. For example, if you have an outstanding balance of $200, it’ll cost you an additional $1.78 for that month.

Customer Experience

First PREMIER Bank provides cardholders with phone support from Monday to Saturday, as well as 24/7 automated phone support and online access.

Security Features

You can expect standard security features with the First PREMIER Bank Mastercard. It does offer two notable security and credit monitoring features:

  • Mastercard ID Theft Protection: You can register for free credit monitoring services through this program. If you ever are the victim of identity theft or if you even lose your wallet, you can get help in setting things right again with assistance from resolution specialists.
  • Single bureau credit monitoring: Mastercard will monitor your TransUnion credit file for unusual activity or changes that may indicate fraud. 

First PREMIER Bank Mastercard’s Fees to Watch Out For

The First PREMIER Bank Mastercard hits cardholders with a lot of fees from sign up to statement copy. These fees are especially outsized considering the low value that this card delivers. 

  • Program fee: $55-$95, depending on creditworthiness and charged once to open the card
  • Ongoing annual fee: $75-$125 during the first year, and $45-$49 thereafter
  • Monthly fee: $0-$8 per month for the first year; up to $10.40 per month thereafter
  • Authorized user fee: $29 per year
  • Credit limit increase fee: 25% of the amount of the increase

For First Premier Bank Gold Mastercard
Compare This Card See how this card stacks up to the competition CURRENT CARD
First Premier Bank Gold Mastercard
overall rating
2.6
Recommended Credit Score

Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350
579
580
669
670
739
740
799
800
850
Poor – Excellent

Regular APR (%) 36% variable
Annual Fee Up-to $125 first year, $49 annually.

< prev

  • Amex EveryDay® Credit Card overall rating 4.3 Full Review Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application. 350 579 580 669 670 739 740 799 800 850 Good – Excellent
    Regular APR (%) 12.99% – 23.99% variable
    Annual Fee $0
    Rewards Earning Rate Earn 2 points per $1 at US supermarkets on up to $6,000 per year. Earn 1 point per $1 for other eligible purchases.
  • Citi Rewards+℠ Student Card overall rating 4.2 Full Review Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application. 350 579 580 669 670 739 740 799 800 850 Good – Excellent
    Regular APR (%) 14.49% – 24.49% variable
    Annual Fee $0
    INTRO PURCHASE APR 0% for 7 Months
  • Citi Rewards+℠ overall rating 4.1 Full Review Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application. 350 579 580 669 670 739 740 799 800 850 Good – Excellent
    Regular APR (%) 13.49% – 23.49% variable
    Annual Fee $0
    Rewards Earning Rate Earn 2X ThankYou Points at supermarkets and gas stations for the first $6,000 per year and 1X points on all other purchases.
  • Discover it® Miles overall rating 4.1 Full Review Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application. 350 579 580 669 670 739 740 799 800 850 Good – Excellent
    Regular APR (%) 11.99% – 22.99% variable
    Annual Fee $0
    Rewards Earning Rate Earn unlimited 1.5 miles for every dollar spent.
  • Bank of America Travel Rewards Credit Card overall rating 4.1 Full Review Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application. 350 579 580 669 670 739 740 799 800 850 Good – Excellent
    Regular APR (%) 14.99% – 22.99% variable
    Annual Fee $0
    Rewards Earning Rate Earn unlimited 1.5 points for every $1 you spend on all purchases everywhere.
  • Capital One Quicksilver Cash Rewards Credit Card overall rating 4.1 Full Review Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application. 350 579 580 669 670 739 740 799 800 850 Good – Excellent
    Regular APR (%) 15.49% – 25.49% variable
    Annual Fee $0
    Rewards Earning Rate 1.5% cash back on every purchase, every day.
  • Citi® Double Cash Card overall rating 4.0 Full Review Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application. 350 579 580 669 670 739 740 799 800 850 Good – Excellent
    Regular APR (%) 13.99% – 23.99% variable
    Annual Fee $0
    Rewards Earning Rate Earn 2% unlimited cash back on every purchase you make: 1% when you buy plus 1% as you pay.
  • Wells Fargo Cash Wise Visa® Card overall rating 4.0 Full Review Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application. 350 579 580 669 670 739 740 799 800 850 Good – Excellent
    Regular APR (%) 14.49% – 24.99% variable
    Annual Fee $0
    Rewards Earning Rate Earn 1.5% cash rewards on everyday purchases.
  • Chase Freedom Unlimited® overall rating 4.0 Full Review Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application. 350 579 580 669 670 739 740 799 800 850 Good – Excellent
    Regular APR (%) 14.99% – 23.74% variable
    Annual Fee $0
    Rewards Earning Rate Earn 5% back on travel purchased through Chase, 3% on dining at restaurants and drugstores, and 1.5% on all other purchases.
  • HSBC Cash Rewards Mastercard® overall rating 4.0 Full Review Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application. 350 579 580 669 670 739 740 799 800 850 Good – Excellent
    Regular APR (%) 13.99% – 23.99% variable
    Annual Fee $0
    Rewards Earning Rate Earn an introductory 3% cash back on $10,000 in purchases made during the first 12 months of account opening. 1.5% cash back thereafter.

next > Our Methodology At The Balance, we are dedicated to giving you unbiased, comprehensive credit card reviews. To do this, we collect data on hundreds of cards and score more than 55 features that affect your finances.

  • Our Reviews Are Always Impartial: No one can influence which cards we review, the way we present them to you, or the ratings they receive. The scores and reviews come directly from the data we collect and our editorial expertise, and we focus on three areas:
  • How Much Does It Cost? With credit card debt at an all-time high, we believe you should know the cost of carrying a balance. Because of that, we give regular purchase APRs significant weight in overall scores, and cards receive low marks if they have an array of pricey fees.
  • What Are the Rewards Worth? Cards accumulate rewards in different currencies—points, miles, cash back—and their values vary widely. To simplify the problem, we built a system that fairly compares rewards and gives them a dollar value. We do this by looking at the ways you can earn and use rewards, which includes evaluating Americans’ typical spending habits and analyzing common travel patterns.
  • Does It Make Your Life Easier? Our scoring system favors cards that accept a wide range of credit profiles and offer simple solutions for things like checking your credit score or contacting customer service. Finally, we give preference to credit cards that have several tools for dealing with fraudulent charges.
  • For every review on The Balance, we hold the credit cards to these standards, and we set the bar high. While we recognize the appeal of splashy features like six-digit sign-up bonuses, our approach ensures that credit cards with the best combination of value, affordability, and accessibility receive the highest scores. See our full methodology for more details.

Article Sources

The Balance requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy .

  1. First Premier Bank. “Terms and Conditions.” Accessed July 28, 2020.