www.platinumoffer.com – First Premier Mastercard Pre-Approved Offers
First PREMIER Bank Mastercard Credit Card from PlatinumOffer.com
www.platinumoffer.com is a preapproved site for the First Premier Bank Mastercard, an unsecured credit card. The bank does not require a security deposit from the customer before approving them for this credit card. This credit card was designed for individuals with bad credit. Only individuals that are over 18 years old can apply for this credit card. This credit card has a grace period of 27 days before the user has to pay interest charges when paying their bill.
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There are not many advantages of signing up for this credit card. Arguably the most significant benefit that this credit card has over its competitors is that individuals with bad credit can be easily approved for it. Therefore, this card can help those individuals increase their credit score. Every time an individual makes a payment on time, they are building to their overall credit score. Cardholders focused on improving their credit score may notice an improvement in just a few months.
Another advantage of this credit card is that it has a high initial spending power compared to other cards designed for users with bad credit. After all of the initial fees are taken out, the cardholder has $896 to start with, which is higher than average for credit cards for users with bad credit. Also, cardholders receive a complimentary quarterly FICO score included on the monthly bill. This credit card also comes equipped with a chip which helps prevent fraud for the cardholder.
Also, this credit card is straightforward to apply for. Cardholders will need to enter personal demographics such as date of birth, employment details, and income details for their application, unless of course they can pre-populate with a www.platinumoffer.com number. Customers are also able to choose their own monthly payment due date. This can be useful for those users who live paycheck to paycheck and have set due dates for other bills.
This credit card comes with several notable disadvantages. First of all, this card comes packed with fees. There is a $25-$95 dollar processing fee just to be able to open up an account upon approval. There is also a first-year annual that ranges from $75 to $125. How high this first-year annual fee will be depends on the dollar amount the customer gets approved for. The yearly fee becomes even higher during year two when you combine the added monthly fee. The annual cost for this card starting year two could be up to $173.80. Being approved for the larger credit limits does not waive the cardholder from the monthly fees in the first year.
Various other fees come with the First Premier credit card. Customers that request a credit limit increase on their account after 13 months of having the card will be charged a fee just for the increase. The fee is equal to 25% of the difference between the old and new spending limits. There is also a 5% cash advance fee which means the bank will charge 5% to customers that request their loan to be taken out in cash. Furthermore, there is a 3% foreign transaction fee for cardholders that want to use this credit card outside of the United States of America. This card also comes with a late payment fee of up to $39.
The First Premier credit card has an extremely high annual percentage rate. This credit card comes with an APR of 36%, which is one of the highest APR rates for all credit cards in the market. Having an APR this high defeats the purpose of getting an unsecured credit card designed for bad credit users. Usually, users with bad credit are looking to finance a large bill or emergency expenses. This will likely result in them carrying a balance over every month. This will result in a very costly credit card because the customer will be charged the interest rate every month.
This credit card does have a system called premier credit protection. This plan promises to make payments for the customer in the event of specific situations such as disability, unpaid family leave, or unemployment. However, this program comes with various myriad exclusions that so not make these deals worthwhile. This program also charges the customer $0.89 per every $100 at the end of month balances. Therefore, this program does not serve as an advantage of having this credit card.
The overall verdict is that The First Premier Bank Mastercard is not a good investment, even for those users with bad credit. It has one of the highest Annual Percentage Rates available on the market, is overloaded with fees, and has no cashback or reward system. This card is not a good investment for those looking to obtain a credit card so think twice before activating platinumoffer.com notices.
There are less expensive options available on the market for those users who have bad credit and are looking to increase their credit score. One option is to sign up for a secured credit card. Even though the individual will have to put down a security deposit, they will get that deposit back when they close their account (sometimes with interest). Two secured credit cards that might be a decent option for such individuals are The DCU Visa Platinum Secured Credit Card and The Opensky Secured Credit Card.
Contact information for The First Premier Bank MasterCard and for help with www.platinumoffer.com applications.
Existing customers can contact the customer care department of The First Premier Bank at 1-800-501-6535 during regular business hours for any questions.