In fact, a feature of the cards for those who do not have credit or are new to credit is the reduced limit. Thus, those who have not yet been able to build credit are stuck with buying low value on the card. In this regard, the PREMIER Bankcard® Secured credit card leaves behind all other secured cards.

Indeed, with this card, you can have a limit of up to $5,000! Learn more about this PREMIER Bankcard® option and how it can be helpful on your journey towards a good credit score.

The PREMIER Bankcard® Secured credit card is an entry-level product for many people in the card world. Thus, the barrier to entry is extremely low. With a credit score of less than 500, you can now apply and will likely be accepted.

Like any secured card, the PREMIER Bankcard® Secured credit card requires an initial security threshold. So, to start using this card, you need to make a minimum deposit of $200. In effect, the amount you deposited is equal to the “limit” of your card.

To expand this limit, simply make deposits of larger amounts. Thus, the PREMIER Bankcard® card allows you to accumulate up to $5,000 in the form of a deposit. In addition, it is one of the few secured cards that allows transfers abroad. For transactions of this type, this card charges the basic market rate: 3%.

Also, you can withdraw from ATMs in cash advance mode. After receiving the card, you can request cash advances of up to 10% of the deposited amount. After 90 days, if you do not accumulate debts or delay your payments, you can withdraw up to 50% of the deposited amount. To request this type of withdrawal, you must pay a fee of $8 or 5%, whichever is greater.

Add another cardholder to your PREMIER Bankcard® Secured card, you will incur an additional annual fee of US$29. To apply for it, you do not need to open an account.

Before deciding if the PREMIER Bankcard® Secured card is for you, take a look at the lists below. In fact, we have separated the main advantages from the disadvantages of having this card. Check it out below:

Find out what are the main advantages of this card:

The PREMIER Bankcard® card is designed for people new to credit or those who don’t have credit. For this reason, your credit score is not a barrier. Even with a bad score (below 500) you may be approved for this card.

In addition, it is a card that informs your credit usage to the main agencies in the country. So, with smart usage, you can see your score grow.

The application process for the PREMIER Bankcard® Secured card is simple and can be done entirely online. However, there are some criteria you need to meet before applying. That way, you’ll be sure you’re maximizing your chances of being approved.

Want to know what these requirements are? Then click on the link below and read a full article on the application process for this card.