PREMIER Bankcard® Mastercard® Credit Card full review
Not everyone has a good credit history. But, a lot of people need a credit card. See how the PREMIER Bankcard® Mastercard® Card can help!
by Sabrina Paes
PREMIER Bankcard® Mastercard® Credit Card: ideal for building credit
Everyone needs a credit card, but the score may not help. That’s why there’s the PREMIER Bankcard® Mastercard® Credit Card review to show you how to get new credit.
With a relatively high APR, the PREMIER Bankcard® Mastercard® Card does not require a high credit score. With only 500, it is already possible to make a request.
And the rate varies depending on that score. Read more!
- Credit Score: Qualify with a low score (at least 500);
- Annual Fee: $50 to $125 based on creditworthiness;
- Regular APR: 36% variable APR;
- Welcome bonus: N/A;
- Rewards: N/A.
How does the PREMIER Bankcard® Mastercard® Credit Card work?
The PREMIER Bankcard® Mastercard® Credit Card is an option for those with not-so-good credit. Only 500 as a credit score qualifies you to apply for this option.
APR rates are determined based on your credit score; the higher the score, the lower the rates. And also, it informs the positive use of the card to agencies.
PREMIER Bankcard® Mastercard® Credit Card pros and cons
As with all card options, the PREMIER Bankcard® Mastercard® Credit Card has some pros and cons. Because it is used for building credit, it is normal for it to have higher APR rates.
However, the PREMIER Bankcard® Mastercard® Credit Card has other associated fees.
The sum of all these fees can be a little disadvantageous for anyone looking to increase their line of credit. Check out the main pros and cons.
- Allows other agencies such as Experian, Equifax, and TransUnion to be informed monthly of their positive credit usage updates;
- You can qualify with a not-so-good score.
- The initial fee for passing the program;
- Annual fee deducted from your credit limit, reducing your available initial credit;
- Monthly fee while the account is open;
- A fine fee for late payments;
- Additional user fee if you want to add a partner to your current account;
- Very high APR rate compared to other operators;
- Expensive credit limit increase rate, even after good card usage history.
Does my credit score need to be good?
If you have a minimum credit score of 500, you can apply for a credit card. The bank evaluates your credit score and will then determine the APR and annual rates based on your score.
Want to apply for the PREMIER Bankcard® Mastercard® Credit Card?
If you need to improve your credit score, the PREMIER Bankcard® Mastercard® Credit Card may be the solution. With a low credit score requirement for applications, it can help you rebuild your history. See below for how to apply for it correctly.
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