The Centennial card is issued by The First Premier Bank a member of the FDIC. This is an unsecured card created for individuals looking for a second chance.
It has easy approval requirements, but does carry some fees. Including a one time $95 fee, an account set up fee of $29, and an annual fee of $48.
You will see these charges on your first monthly bill. They will be charged towards your available credit limit.
Your card will have an initial $250 limit, and a 9.9% APR.
It is issued as a Visa or MasterCard your choice. If you apply online you will have an application response in less than 60 seconds.
By making your monthly payments on time you will begin a positive payment history on your report.
Your utilization ratio is also very influential on your score. This is how much debt you have versus unused credit. It will help your score if you keep a monthly balance of around 30% of your limit.
If your card has a limit of $250 then you want to keep the monthly balance around $75. After you have paid on time for 6 months you will be eligible for a limit increase.
The First Premier Bank is in Sioux Falls, South Dakota. They are a member of the Better Business Bureau and have served over 3 million people.
It is accepted everywhere you see the Visa or MasterCard logo displayed. To qualify you must be over 18 years of age and have a valid social security number.
Lately there has been a rise on interest rates, even on good credit cards. The rates have jumped to around 30% and this is without cause. This Means that interest rates are rising even on customers that pay on time.
In sum we suggest you explore all your options for credit if you have made some mistakes. It may be more cost effective to get a secured or prepaid card, and take other steps to repair your damaged score.
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