First Premier MasterCard
First Premier credit card is an unsecured card. It has been created specifically for individuals with a damaged credit report.
It offers easy approval, but does carry some large fees. However if you credit is in the dumps many of these fees are necessary expenses for new credit.
If you are interested in this card because you are hoping that it can improve your low credit score, I must tell you that it cannot fix your score. What it can do, however, is help you create a positive history of payments.
Negative items on your credit report will dramatically lower your credit score, so while they remain on your report you will be unable to achieve a good credit score.
Before opening up new lines of credit, it is a good idea to remove negative items from your credit report. Despite what many people think, you can remove derogatory items from your report.
You can dispute these items directly with the credit bureaus. Once these items are removed from your report, you may be able to apply for and receive a card with lower fees, or even no fees at all.
Make sure you have reasonable expectations for this card: it won't fix your score. It can help, however, and positive credit lines can assist you in achieving a higher credit score. Keep in mind, though, that negative marks are much more damaging.
Additionally with our tough economic times many lending institutions have severely tightened their approval requirements. Frequently you will be denied even if you have just one negative item on your report.
The credit limit for this card is $250 and there is a $95 program fee, a $48 annual fee, an $84 monthly servicing fee (deducted annually) and an account setup fee of $29 associated with the card. These fees are automatically deduced from your available credit when you are issued the card.
Considering these high fees, we think that it is more cost effective, particularly over the course of a lifetime, to improve your score by repairing and removing negative items from your credit report. This may allow you to be approved for a low-limit, no-fee credit card.
You're not alone: millions of people have poor credit, but you shouldn't think you have to just live with it. The knowledge that you can't be approved for anything better can cost you money and damage your self confidence.
Having poor credit doesn't have to make you feel like a second-class citizen. Legislation has been passed to help protect you from outrageous fees. There is no better feeling than hearing a loan officer say, "Congratulations, you've been approved!
It offers easy approval, but does carry some large fees. However if you credit is in the dumps many of these fees are necessary expenses for new credit.
If you are interested in this card because you are hoping that it can improve your low credit score, I must tell you that it cannot fix your score. What it can do, however, is help you create a positive history of payments.
Negative items on your credit report will dramatically lower your credit score, so while they remain on your report you will be unable to achieve a good credit score.
Before opening up new lines of credit, it is a good idea to remove negative items from your credit report. Despite what many people think, you can remove derogatory items from your report.
You can dispute these items directly with the credit bureaus. Once these items are removed from your report, you may be able to apply for and receive a card with lower fees, or even no fees at all.
Make sure you have reasonable expectations for this card: it won't fix your score. It can help, however, and positive credit lines can assist you in achieving a higher credit score. Keep in mind, though, that negative marks are much more damaging.
Additionally with our tough economic times many lending institutions have severely tightened their approval requirements. Frequently you will be denied even if you have just one negative item on your report.
The credit limit for this card is $250 and there is a $95 program fee, a $48 annual fee, an $84 monthly servicing fee (deducted annually) and an account setup fee of $29 associated with the card. These fees are automatically deduced from your available credit when you are issued the card.
Considering these high fees, we think that it is more cost effective, particularly over the course of a lifetime, to improve your score by repairing and removing negative items from your credit report. This may allow you to be approved for a low-limit, no-fee credit card.
You're not alone: millions of people have poor credit, but you shouldn't think you have to just live with it. The knowledge that you can't be approved for anything better can cost you money and damage your self confidence.
Having poor credit doesn't have to make you feel like a second-class citizen. Legislation has been passed to help protect you from outrageous fees. There is no better feeling than hearing a loan officer say, "Congratulations, you've been approved!
About the Author:
Instead we suggest the Total Visa Card an unsecured card & Credit Card Applications. For a free credit consultation call 1-800-253-3735.
posted by Credit Counseling at
2:35 PM
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