Reviews

PREMIER Bankcard® Mastercard® credit card full review: should you get it?

Rebuild your credit with monthly reports to the country's top credit bureaus and get a great card without having to make a down payment. Discover the PREMIER Bankcard® Mastercard® credit card.

Advertisement

PREMIER Bankcard® Mastercard® credit card: rebuild your credit without having to make an initial deposit

Rebuild your credit with the PREMIER Bankcard® Mastercard® credit card. Source: PREMIER Bankcard®

When rebuilding (or building) credit, it is necessary to have a card that trusts our potential. In fact, the PREMIER Bankcard® Mastercard® credit card could be that card. With it, you don’t have to shell out money on initial deposits.

Below, check out a complete analysis of this credit access product.

PREMIER Bankcard® logo

PREMIER Bankcard® Mastercard® card: check out how to apply!

With the PREMIER Bankcard® Mastercard® card you can recover your credit with an initial limit of up to $700 without having to deposit any down payment! Find out how to apply for this card.

Credit ScoreFrom Average to excellent (over 500)
Annual FeeIn the first year, from $50 to $125. In subsequent years, from $45 to $49
Regular APR36%
Welcome bonusNone
RewardsNone

PREMIER Bankcard® Mastercard® credit card: learn more about this financial product

First, keep in mind that this is an option for anyone looking to build credit. For this audience, the PREMIER Bankcard® Mastercard® has the advantage of not requiring a deposit when opening an account.

In fact, this can be a big help for anyone who doesn’t have an immediate cash reserve. In addition, when you receive your card, you will have an initial limit of $200 to $700.

From your initial credit limit amount, you will have a deduction equal to your annual fee. That way, if you go over the $500 starting limit, you’ll get a $125 reduction. So your actual starting limit will be $375.

So don’t be surprised at the difference in amounts. In addition, in just one year, your card will be subject to an inquiry that may increase your limit. If an increase is approved, you must pay a fee equivalent to 25% of the increase.

So if your limit jumps from $500 to $700, you must pay 25% of the additional $200.

So, in our example, you will have to pay $50 for the raise. In addition, the PREMIER Bankcard® Mastercard® sends monthly reports to the main credit agencies in the country.

In fact, this is essential for building credit! This card also offers a free monthly check of your credit score so you can track your progress. Finally, it can be used at any Cirrus ATM and managed via its mobile app.

PREMIER Bankcard® Mastercard® credit card features

Smiling woman holding smartphone and credit card while lying on sofa (PREMIER Bankcard® Mastercard® credit card)
Learn more about the card’s pros and cons! Source: Adobe Stock.

An aid to increase your credit as quickly as possible, this is the PREMIER Bankcard® Mastercard®. Before ordering, take a look at these lists of the main advantages and disadvantages of this card:

What are the benefits? 

  • Monthly reporting of your payments to the main credit agencies in the country;
  • Possibility to have a higher credit limit in just 12 months;
  • Great for anyone looking to rebuild credit;
  • No initial deposit required.

What are the drawbacks?

  • Monthly fee charge. In the first year, from $0 to $8. In the following years, from US$ 6.25 to US$ 10.40;
  • The program fee is charged upon account opening in an amount ranging from $55 to $95;
  • 3% fee on transactions abroad;
  • Extremely High APR!

What credit score do you need to get the PREMIER Bankcard® Mastercard® credit card?

This card is for anyone who wants to build credit. Therefore, it accepts clients who have an average/fair score in advance. So, to have it, it is important that you have a score of at least 500 points.

How does the PREMIER Bankcard® Mastercard® credit card application process work?

Decided that this will be the card that will get you higher credit scores? Great. Then click on the link below and learn how the step-by-step application process works:

PREMIER Bankcard® logo

PREMIER Bankcard® Mastercard® card: check out how to apply!

With the PREMIER Bankcard® Mastercard® card you can recover your credit with an initial limit of up to $700 without having to deposit any down payment! Find out how to apply for this card.

Trending Topics

content

Earned Income Tax Credit (EITC): see if you qualify for the program

There is a federal program that allows you to recover your taxes. Click here to learn more about the Earned Income Tax Credit (EITC).

Keep Reading
content

Fortiva® Mastercard® Credit Card with Cashback Rewards: check out how to apply!

Apply for Fortiva® Mastercard® Credit Card with Cashback Rewards to get an above average cash back rate even with a modest credit score.

Keep Reading
content

First Progress Platinum Elite Mastercard® Secured credit card review

Meet the First Progress Platinum Elite Mastercard® Secured credit card, a tool with everything you need to build your credit from scratch.

Keep Reading

You may also like

content

Is Canada going into recession? Here’s what experts are saying

Find out if Canada is going into recession, and learn about some of the causes behind this situation. Here are the facts.

Keep Reading
content

Apply for Life Loans: Up to $40K Loans

Apply for Life Loans to access loans up to $40,000 with APR as low as 5.99%. Flexible repayment options up to 60 months for all credit types.

Keep Reading
content

Capital One Quicksilver Secured Cash Rewards Credit Card full review: should you get it?

The Capital One Quicksilver Secured Cash Rewards Credit Card is a no-annual-fee building credit card that offers unlimited cash back!

Keep Reading