About PREMIER® Bankcard
PREMIER® Bankcard offers credit cards designed for people who are building credit for the first time or working to rebuild their credit. The company has served consumers with less-than-perfect credit since 1989 and is part of First PREMIER Bank.
PREMIER credit cards can be used to establish a payment history when managed responsibly. PREMIER also reports account performance to consumer reporting agencies each month, so both on-time payments and missed payments can become part of your credit history.
If you're considering a PREMIER® Bankcard credit card, look beyond whether you may qualify. Compare the card's fees, APR, credit limit and other terms with alternatives before applying. The best choice depends on your credit situation and what you're trying to accomplish.
PREMIER® Bankcard Credit Requirements
PREMIER® Bankcard focuses on consumers who are establishing or rebuilding credit, including people with less-than-perfect credit. You don't necessarily need excellent credit to be considered for a PREMIER credit card.
However, there isn't a single credit score that guarantees approval. PREMIER notes that credit scores may be one factor in determining which type of credit you're eligible for, but a credit score by itself doesn't guarantee approval for a PREMIER® Bankcard product.
Before applying, consider your overall credit profile as well as the cost of the card. If you're working on your credit, paying bills on time and keeping credit card balances low can help you build a stronger credit history over time.
Does PREMIER® Bankcard Report to the Credit Bureaus?
Yes. PREMIER® Bankcard reports account performance monthly to the major consumer reporting agencies. This can make a PREMIER credit card useful for establishing or rebuilding credit when the account is managed responsibly.
Credit reporting works both ways, though. Paying on time and keeping balances manageable can help establish a positive payment history, while late payments and other negative account activity may hurt your credit.
For someone rebuilding credit, the important part isn't simply getting approved for a card. It's using the account consistently and responsibly after approval.
Can You Pre-Qualify for a PREMIER Credit Card?
PREMIER® Bankcard offers a pre-qualification process that lets you see whether you may qualify and review an offer before completing a full application. According to PREMIER, checking for pre-qualification doesn't impact your credit score.
If you decide to proceed after pre-qualifying, completing the credit card application requires a hard credit inquiry. A hard inquiry can affect your credit score.
Pre-qualification isn't the same as final approval. Review the credit limit, rates and fees presented with your offer before deciding whether to submit the full application.
PREMIER® Bankcard Fees and APR
Costs are especially important when comparing credit cards designed for building or rebuilding credit.
Depending on the PREMIER® Bankcard offer for which you qualify, costs can include an annual fee, monthly fee or program fee. The specific fees and terms can vary by offer and credit limit.
Rather than relying on a fee or APR quoted on a comparison page that may eventually become outdated, review the current rates, fees and terms shown with the offer before applying.
A card that helps you establish credit can still be expensive if its fees are high relative to the credit limit. Compare the total annual cost with other credit-building options, including secured credit cards, before making a decision.
PREMIER® Bankcard Credit Limit
The credit limit available to you depends on the specific PREMIER credit card offer and your application.
PREMIER® Bankcard says customers may become eligible for a credit limit increase after 12 months of consistent, responsible account management. Eligibility doesn't mean an increase is guaranteed.
With a relatively low credit limit, it's especially important to watch your balance. Using a large percentage of your available credit can result in high credit utilization, even when the dollar amount you owe isn't particularly large.
Is a PREMIER® Bankcard Credit Card Right for You?
A PREMIER® Bankcard credit card may be worth considering if you're having difficulty qualifying for traditional credit cards and want an account that reports your payment history to consumer reporting agencies.
However, approval shouldn't be the only consideration.
Before applying, compare:
- The annual, monthly and program fees that may apply
- The card's regular APR
- Your available credit limit
- Whether a secured card could cost less
- Other credit cards available for your credit profile
- Whether you expect to pay your balance in full each month
For someone rebuilding credit, the goal should be finding a card you can afford to maintain responsibly, not simply getting another available credit line.
PREMIER® Bankcard FAQ
Is PREMIER® Bankcard the same as First PREMIER Bank?
PREMIER® Bankcard is part of First PREMIER Bank. First PREMIER Bank issues the credit cards offered through PREMIER® Bankcard.
What credit score do you need for a PREMIER credit card?
PREMIER doesn't publish a single credit score that guarantees approval. Its cards are marketed to people building or rebuilding credit, and credit score is only one factor that may be considered when determining eligibility.
Does checking for PREMIER® Bankcard pre-qualification hurt your credit?
PREMIER says checking for pre-qualification doesn't affect your credit score. If you proceed with a full application, however, PREMIER performs a hard inquiry that could affect your score.
Does PREMIER® Bankcard help build credit?
A PREMIER credit card can help establish credit history because PREMIER reports account performance to consumer reporting agencies monthly. Building credit still depends on how you manage the account, including making payments on time and keeping balances under control.
Can PREMIER® Bankcard increase your credit limit?
PREMIER says cardholders can become eligible for a credit limit increase after 12 months of consistent, responsible account management. Individual results and eligibility can vary.
How long does a PREMIER credit card application take?
PREMIER says applicants can generally find out whether they're approved in less than a minute after submitting an application. If approved, PREMIER says the card typically arrives within 7 to 10 days.
