Press release: First PREMIER Bank Secured Credit Card
By Jeremy Simon
PRESS RELEASE
Consumers might not expect a credit card for bad credit to offer a low interest rate. But the First PREMIER Bank Secured Credit Card has an APR of just 9.9 percent on purchases.
Since First PREMIER Bank specializes in extending credit to those whose past history may be less than perfect, even consumers with bad credit or who declared bankruptcy in the past can still apply for this credit card with confidence. Individuals who are unemployed, on disability or on Social Security can apply, as well.
Consumers who are approved for the First PREMIER Bank Secured Credit Card will be granted an initial credit limit of $200. After the acceptance fee of $144 and the monthly participation fee of $6 are applied, the cardholder's available credit will be reduced to $50.
The participation fees, which total $72 a year, are charged for participation on the credit program, which includes such benefits as reporting the account to the leading four credit bureaus and reviewing the credit card account for fraud.
Cardholders will be eligible for a possible credit limit increase after six months, with First Premier's decision to extend their credit line based on such factors as whether payments were made on time and in excess of the minimum due, overlimit history and overall credit history. First Premier will review credit history to determine the cardholder's credit limit.
Meanwhile, each month, activity on the consumer's First PREMIER Bank Secured Credit Card account will be reported to four credit bureaus. Therefore, careful use of the credit card can result not only in an extended credit line, but also an improved credit score.
Cardholders will have the annual fee of $49 waived for their first year. The First Premier Bank Secured Credit Card also charges a one-time processing fee of $29.
For consumers with bad credit, the First Premier Bank Secured Credit Card could be their ideal card product.
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