First Premier does not waive the program fee for their secured credit card. This is because the program fee is used to offset risks associated with providing the card, including any possible bad debt losses under the program.
All customers will be charged the same program fee, regardless of their risk profile. The fee covers a variety of expenses as noted by First Premier, including: cardholder services (including customer service, web hosting, and rewards program development); fraud protection; legal and compliance expenses; marketing costs; and operational expenses like underwriting and processing fees.
Ultimately, customers can expect to pay a program fee in order to be approved and take advantage of the secured credit card.
Why do I have to pay a program fee on my credit card?
Most credit card programs require you to pay a program fee in order to be eligible for the card benefits and rewards. This fee typically ranges from $50 – $100 and needs to be paid at the time of application.
The program fee ensures that the credit card company is able to cover the cost of the rewards program and offers associated with the card. This fee is important to help remove incentive for fraudulent applications and to ensure that the card program remains profitable.
Additionally, credit card companies track how often the card is used and offer varied rewards based on that usage. The program fee helps them to offset the cost of these additional offers.
How do I cancel my First Premier charge off?
The only way to cancel a First Premier charge off is to contact First Premier and discuss your options. You can contact them either by calling their customer service team at 1-800-987-5521 or by sending an email to inquiry@firstpremier. com.
In most cases, First Premier may be able to work out an acceptable arrangement for settling the debt, such as a payment plan or negotiated amount. However, if the debt is too large for you to be able to repay in one lump sum, you may need to seek assistance from a debt relief organization.
These organizations specialize in negotiating with creditors to come up with a payment plan that fits into your budget. Ultimately, your best option for getting the charge off canceled is to contact First Premier and discuss your options.
What is the highest credit limit for First Premier Bank?
The highest credit limit for cards from First Premier Bank is currently $2,000. This limit is designed to help responsible cardholders build their credit and may increase over time with responsible use.
Credit limit increases are reviewed periodically and may depend on the cardholders credit history and other factors. Cardholders should review their credit card terms and conditions for more information.
How long does it take for credit to be available after payment First Premier?
It typically takes 1-2 business days for credit to be available after payment is received by First Premier. However, some exceptions may apply based on the type of payment and the processing time. For example, if you make a payment by eCheck, it may take up to 6 business days for the funds to be available.
If you have any questions about when you should expect to see your credit available, it is best to reach out to customer service at First Premier.
Can you take money off a Premier credit card?
Yes, you can take money off a Premier credit card. You can either use a cash advance or use convenience checks to withdraw cash from your Premier credit card. For a cash advance, you will typically pay a cash advance fee (typically either a percentage of the cash advance amount or a flat fee) and an APR that can be higher than the purchase APR on your Premier credit card.
It is also important to note that cash advances do not typically accrue points or cashback from your Premier credit card. In order to take money off your Premier credit card via convenience check, simply fill out the check and mark that it is a convenience check.
Like a cash advance, you will be charged fees and a higher APR, with no points or cashback.
Does First Premier give automatic credit increases?
No, First Premier does not currently offer automatic credit increases on its credit cards. Instead, they recommend that customers contact their customer service department to request an increase, and they can review a customer’s account to see if they are eligible for a credit increase.
If the customer’s account is in good standing and it’s been at least 6 months since their last credit increase request, their customer service team may approve an increase. However, customers need to be aware that credit increases will likely result in higher annual fees and higher interest rates.
Therefore, it’s important to carefully consider if requesting a credit increase is truly necessary and if it’s worth it in the long run before they make the request.
Can I increase my First Premier credit card limit?
Yes, increasing your First Premier credit card limit is possible. To apply for a First Premier credit card limit increase, the first step is to log in to your online account. You will then be able to submit an application to request a limit increase.
Additionally, you can call First Premier and request a limit increase over the phone. The approval process will include a review of your credit, payment history, and financial stability/earning potential.
They may also call to verify the information before granting an increase. It is also important to note that the amount of the increase you can receive depends on the credit limit and credit profile you are given at the time of approval.
What is the highest amount of credit limit?
The highest amount of credit limit is determined by a variety of factors, such as individual creditworthiness, income, and other financial liabilities. Credit bureaus, such as Experian, calculate credit scores based on a range of criteria, and lenders use these scores to determine the appropriate credit limit for new accounts.
Certain lenders specialize in providing high-limit cards, though such cards typically require excellent credit.
Credit limits for specific types of credit cards can vary. For example, some retail cards might only offer a few hundred dollars in credit, while premium credit cards, such as those offered through banks, may have limits of several thousand dollars or more.
For secured credit cards, the credit limit is generally determined by the amount of the initial deposit placed into the account.
In addition, certain credit card providers offer variable credit limits based on customers’ spending, payment history, and other factors. For example, a customer who is a responsible borrower may have their available credit increased.
Ultimately, the highest amount of credit limit is determined by both the provider and the individual’s creditworthiness.
What is First Premier cash advance limit?
The First Premier cash advance limit depends on the individual’s creditworthiness, credit score, and other financial factors. Depending on the individual’s creditworthiness and credit score, individuals may be able to get cash advances up to as much as $750.
However, it is important to note that the First Premier cash advance limit can never exceed the approved credit limit for the individual’s First Premier Bank credit card. Thus, the available cash advance limit will always be lower than the approved credit limit.
Additionally, if the First Premier Bank credit card has a relatively low balance, the cash advance limit may increase.
Generally speaking, it is important to remember that credit card cash advances should only be used as a last resort and that taking out cash advances can become very expensive due to the high fees and interest rates charged.
Can I transfer money from my First Premier credit card to my bank account?
It is possible to transfer money from your First Premier credit card to your bank account. However, this will depend on the bank policy of your particular bank. Be sure to contact your bank for more information.
Generally speaking, most banks will allow you to transfer money from your credit card to your bank account, as long as you follow the instructions outlined by your bank. You will usually need to log into your bank’s website or telephone banking service, and provide the necessary details for the transfer, such as the credit card number and the amount of money desired to be transferred.
Some banks may also charge certain fees for these types of transactions, so be sure to read through their terms and conditions beforehand or contact your bank for further details. Once the transfer is completed, you will likely receive a confirmation email or text message to let you know that your money was successfully transferred from your First Premier credit card to your bank account.
Is there a limit to cash advance?
Yes, there is usually a limit to cash advances from a credit card. Generally, any cash advance taken from a credit card will have an associated limit that can vary based on the individual’s credit history and account limits.
This limit will usually be a fixed amount or a percentage of the cardholder’s overall credit limit. Most credit card companies will have a minimum and maximum limit associated with cash advances, and it’s important to note that cash advance limits are usually lower than the standard spending limit associated with the account.
For example, if an individual has a $1,000 limit on the credit card, they may only be able to take a cash advance up to $500. Additionally, cash advances may also be subject to additional fees and interest rates, depending on the credit card issuer.
Therefore, it’s important to familiarize oneself with the terms and conditions of a credit card before taking out a cash advance.
How long does it take for First Premier to process application?
The amount of time it takes First Premier to process an application largely depends on the type of account and credit check associated with the application. For general credit requests, it typically takes 1-2 weeks to receive a response from First Premier.
For more specific credit requests and new accounts, the processing time could extend to 4-6 weeks or more. Additionally, if an individual has a prior relationship with First Premier, their application may move through the process faster than that of a new customer.
In any case, applicants can expect to hear back from First Premier within a few weeks of submitting their initial application.
What happens if you don’t pay the program fee for First Premier Bank?
If you do not pay the program fee for First Premier Bank, your account may be deactivated. Additionally, you may be charged late fees, an additional program fee, or other collection fees. If you ignore any communication from the bank, your account may be reported to collections and/or credit bureaus, resulting in an increased interest rate or even an inability to open certain types of credit accounts.
The best course of action is to contact First Premier Bank directly, explain the situation, and see if an arrangement can be made to help alleviate or delay the payment.
What happens to your purchase if you don’t pay your charge account bill?
If you do not pay your charge account bill, your credit card may be closed for future purchases and your balance may be placed in collections. Your credit score may also be affected, making it harder to obtain future loans or lines of credit.
Depending on the specific arrangement, you may be charged late fees and interest, which can add up quickly. Additionally, the unpaid charges may be reported to the major credit bureaus and linger on your credit report for up to seven years.
All of these consequences can make it harder for you to open a new credit card, take out a loan, or even qualify for a job. To help avoid these potential problems, make sure to pay your charge bill on time.
How much is the program fee with First Premier?
The program fee associated with First Premier is determined by several factors, including the individual’s credit rating, income and other financial history. The exact amount of the program fee can vary depending on these factors, starting as low as $19 for approved applicants and as high as $95 for those who are not approved.
The fee is added to the initial purchase cost of the card and is then spread across the monthly payments for the card. Any fees incurred for overdrafts or late payments are independent of the program fee and can increase a customer’s total costs.