First Premier Bank

Author: Kaitlyn Short

First Premier Bank is one of the largest providers of Visa and MasterCard services in the nation. The company places a special emphasis on providing credit cards to consumers with less-than-perfect credit.

Top Ranked Companies

#1 Capital One chevron_right

8.0 Overall Score

4.3

star star star star star_half

(1,364)

View Profile View Profile

#2 Visa chevron_right

7.7 Overall Score

4.7

star star star star star_half

(1,233)

View Profile View Profile

#3 MasterCard chevron_right

7.6 Overall Score

4.5

star star star star star_half

(387)

View Profile View Profile

thumb_up

The Good

• No Annual Fees

No Annual Fees

First Premier Bank does not charge annual fees for any of its Premier Bankcards, which can save customers hundreds of dollars each year. 

thumb_down

The Bad

• High APRs
• Late Payment Penalties
• Foreign Transaction Fees
• Undisclosed Information

High APRs

There's no way around it-with APRs starting at 36 percent*, First Premier Bank offers some of the highest rates in the industry. In addition, unlike many other credit card companies, First Premier Bank does not offer a low introductory APR; cardholders get stuck with an extremely steep rate right off the bat.

Late Payment Penalties

First Premier Bank charges a fee of up to $37 for every payment that comes in late.

Foreign Transaction Fees

With First Premier Bank, foreign transactions incur a fee of 3 percent of the total charge, which is one of the highest fees in the industry. This fee is especially inconvenient for customers who travel frequently.

Undisclosed Information

First Premier Bank has not disclosed several important pieces of information on its corporate website, including whether or not rewards programs, free credit score tracking abilities, or fraud safeguards are offered.

gavel

The Bottom Line

First Premier Bank does not charge any annual fees. However, the company has high APRs and charges late payment and foreign transaction fees. In addition, First Premier Bank has not disclosed a number of important pieces of information on its website.