![]() If you are approved but don't pay the program fee in full within 85 days from the date the application was approved, your application will be withdrawn. The program fee must be paid in full before the credit account is opened. $8.00 per month the first year, then $10.40 per month $5.85 per month the first year, then $8.25 per month None the first year, then $10.40 per month None the first year, then $6.25 per month Related reading: Credit utilization ratio: What is it and how it affects your credit score Fees and disadvantages with this card To do so, you may want to pay down your card balance multiple times throughout the month instead of only when your bill is due. If you are using the First Premier Bank Credit Card, this will mean keeping your current balance below $60 if your credit limit is $300, and keeping your balance below $200 if your credit limit is $1,000. As a rule of thumb, it's best to keep your debt-to-credit ratio below 20%. Your debt-to-credit ratio is the total of your debts divided by the total amount of credit that you’ve been extended across all accounts. Related reading: Does it hurt to pay off your credit card balance before the billing cycle ends? Credit utilization It's better to pay the statement balance by the due date each month, as this will allow you to avoid interest charges as well as keep your credit utilization low. You'll want to pay at least the minimum amount due each month by the due date to boost your payment history. But, if you pay on time, this can improve your credit score. If you get behind in making payments, this will harm your credit score. Many different components go into calculating your credit score, but FICO - one of the primary formulas used to calculated credit scores - states that 35% of your score is based on your payment history and 30% of your score is based on your credit utilization ratio. Your primary goal while using this card should be to improve your credit score so you can get approved for a credit card with rewards, lower fees and a higher credit line. However, your annual fee will be deducted from this credit limit, so your initial available credit will be your credit limit minus your annual fee. The First Premier Bank Credit Card is unsecured, so you'll be assigned a credit limit by the issuer if you're approved. When you apply, you choose your card design from these six options. New to The Points Guy? Sign up for our TPG daily newsletter and check out our beginner's guide. But, if you have less-than-perfect credit and are struggling to get a credit card, you may be interested in the First Premier Bank Credit Card. So, if you have good or excellent credit, or can be approved for a no-annual-fee credit card from other issuers, this card isn't for you. The First Premier Bank Credit Card is an unsecured credit card designed for consumers with low credit scores who otherwise may be turned down for a credit card. So, if you have bad or poor credit, you may need to temporarily rely on a secured credit card or an unsecured credit card with high fees while you work to improve your credit score. Most rewards credit cards will want to see a higher credit score and stronger credit history before extending credit. If you have limited credit or are working to repair your credit, you may not have many appealing options when it comes to credit cards. This page includes information about the Discover it Secured that is not currently available on The Points Guy and may be out of date. Card rating*: ⭐½ *Card Rating is based on the opinion of TPG's editors and is not influenced by the card issuer. Instead, this is a card to use for a short time to build your credit before moving on to a more traditional credit card that offers rewards, lower fees, a higher credit limit and lower interest rates. You shouldn't plan to use this card long term. The First Premier Bank Credit Card is designed for consumers with low credit scores who may not be approved for most other unsecured credit cards.
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