The first image that came to mind when I visited First Premier Bank’s website is one of holiday and relaxation. I think it’s the orange sunglasses that did it. It just conjures up thoughts of sea and sunshine. I think I’ll apply for this First Premier Bank credit card and I’ll give you two guesses at what I’ll be charging to my new card first. That’s right; you got it, a well earned holiday.

Despite liking the design of the site, when evaluating a credit card, the look of the site is not high on the list of wants. You need to look at the benefits the card offers and whether or not it suits your needs.

So let’s look at some of the benefits of the First Premier Bank Credit Card.

Approval Time

Once you submit your application online, it will take about one minute to get a decision. I know how precious time is so this would be a great benefit to you. You don’t have to wait long at all to know if you are approved.

Criteria

Even if you have bad credit, you can still apply as the First Premier Bank Credit Card welcomes applications from people with all types of credit profiles.

Rates

When you receive your new credit card you can enjoy a rate of 9.9% on purchases. There is no information on whether or not this rate is adjustable based on your credit rating. From experience though, normally the rate tends to be higher when you have a poor credit rating, so be prepared just in case this is the case here.

There is a 19.9% APR on cash advances which you might think is high. Remember your credit card is meant to be used for purchases so all you have to do to avoid the rate is to avoid withdrawing cash.

Penalties

If you miss your payment date for two consecutive months or twice in any six month period, your APR will increase to 19.9%. The thing to note is that the rates would remain at 19.9% until you pay your bill promptly for three consecutive months. Again to avoid this rate, make sure to pay your bill on time.

As you look deeper into this card, there are some things that I am not so thrilled about. I have a feeling you won’t be that thrilled either.

Take a look at the fees and credit limit that comes with the First Premier Bank Credit Card.

When you receive your new card you can rest assured your credit limit would not be less than $250. This bit is not so bad.

Now look at the fees:

• Annual fee $48
• Account Set up fee $29
• Program fee $95
• Participation fee $6 monthly
• Additional card fee $20 per card
• Internet Access Fee $3.95 once you sign up for the service

The bad news is that most of the fees are added to your account from day one. This would reduce your available limit. If you qualify for the lowest limit of $250, after fees you could only have an available limit of around $52.

WOW! $52. This is proving to be one expensive card. How far could $52 get me anyway?

Having reviewed the features of this card, the First Premier Bank Credit Card is definitely a bad credit credit card. The good thing is if you play by the rules and pay your bills on time you could enjoy a very competitive 9.9% APR. (Subject to your credit rating)

In view of all the previous information, before you make your final decision I would recommend you compare other credit cards on the market. You could search for other cards with fewer fees. You never know what is out there until you search the market.