Are you in the market for a new card and considering the PREMIER Bankcard® Secured Credit Card? Before you apply for the card, you'll want to learn some key facts about the offer and how it compares to other cards on the market.
First, let's cover the basics. In reviewing the card, we rated it a 3.9 out of 5.0, which means that like many other cards, we found the PREMIER Bankcard® Secured Credit Card to have some solid benefits and some possible drawbacks.
This card is a personal favorite to recommend to credit-building applicants. Fee structures are competitive, and the issuer has decades of solid experience helping subprime cardholders advance into better credit territory.
Next up, let's dive into the details you should consider before applying. Here's a rundown of the card's key features, rates, and terms:
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BEST OVERALL RATING
★★★★★
3.9
- There's no checking account required.
- When you need assistance, our award-winning, U.S.-based Customer Service representatives are there to help.
- After six months of responsible secured card use you may be eligible* to apply for an unsecured PREMIER Bankcard Mastercard®.
- *PREMIER Bankcard Mastercard® available upon invitation after you've been with PREMIER for six months and have kept your account in good standing (on-time payments and staying within credit limit).
- If approved, make your first six monthly minimum payments on time and we may send you an offer to apply for an unsecured credit card. Some restrictions apply. ‡
- ‡ If you apply for the second account, which is unsecured, you will be approved if you can demonstrate the ability to pay your bills, meet our minimum income requirements, do not reside in New York or Wisconsin and are not covered under the Military Lending Act.
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See Provider Website
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See Provider Website
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Bad/Limited/No Credit
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There's certainly a lot to like about the PREMIER Bankcard® Secured Credit Card. But just like with other cards we review, we stress that potential applicants should pay attention to this card's rates and fees as part of the bigger overall picture.
Let's dive deeper into those rates and fees, as they could make or break whether owning the card makes sense for you and your financial situation.
The interest rate, also known as APR (annual percentage rate), tells you what percentage of your balance you can expect to pay in interest annually if you carry a balance.
According to the issuer, the PREMIER Bankcard® Secured Credit Card currently charges the following interest rates on purchases and balance transfers:
- Purchase Intro: N/A
- Balance Transfer Intro: N/A
- Regular APR: See Provider Website
Another possible expense to consider is the annual fee, which is the amount a cardholder is required to pay each year for the privilege of owning a particular card.
Here's the annual fee for the PREMIER Bankcard® Secured Credit Card as listed by the issuer:
- Annual Fee: See Provider Website
See site for details »
So far, we've covered the PREMIER Bankcard® Secured Credit Card in great detail, from its many benefits to its current rates and fees. But what are your odds of approval? What credit score is needed to become a cardholder?
According to the issuer, the current general credit history requirement for the card is:
- Credit Level: Bad/Limited/No Credit
If you feel you have the credit needed for approval and you're ready to apply, you can do so online on the issuer's secure website.
Keep in mind that rates and features may change, so if you like what the card is offering today, you may want to apply now to lock it in its current terms before it's too late.
We've discussed the many benefits, drawbacks, and requirements of the PREMIER Bankcard® Secured Credit Card, but how does it rank versus similar cards on the market? Below are all the category-specific ratings our team gives the card, along with the card's ranking within each category.
Quick hint: Want to see our best-reviewed cards in each category? Simply click the category name to see our top picks:
All told, our team's review of the PREMIER Bankcard® Secured Credit Card resulted in a rating of 3.9 out of 5.0, as the card features many pros and cons for a potential cardholder to consider. Ultimately, it's up to you to determine if the card's benefits outweigh its possible drawbacks. If you determine that it's a fit for your needs, you may want to apply soon, as terms throughout the industry change regularly.
We hope our guide has been helpful in learning all you need to know about the PREMIER Bankcard® Secured Credit Card. We wish you the very best on your financial journey!
Be sure to visit the official website for PREMIER Bankcard® Secured Credit Card to learn complete details about its features and terms. If you’re not quite sure if PREMIER Bankcard® Secured Credit Card is right for you, we encourage you to check out these guides to popular alternatives:
Before applying for the PREMIER Bankcard® Secured Credit Card offer or any other offer, be sure you understand all fees, interest rates, and terms so you can make the best decision for your own financial goals.
Toby founded Digital Brands, the parent company of CardRates.com and its sister sites, and now serves as Chairman of the Board. He lends his 15 years of credit card industry experience to educate consumers on the responsible use of credit. His knowledge base spans credit card reward programs to credit repair, lending, and credit bureau reporting.
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