Digital News Report – Credit cards can be very difficult to acquire especially if applicants have a low credit score or no credit history. But there is a solution.
The First PREMIER® Bank Secured Credit Card offers customers the opportunity to rent cars and use a credit card to reserve a hotel or motel room. Customer can also use the card to make regular purchases.
The First Premier card has a minimum of $200 and a maximum credit limit of $5,000. The company says you can “build your credit limit over time”.
Since the bank reports the payments to the three major credit bureaus (Consumer Reporting Agencies) allowing customers to improve their credit scores. If the payments are made on-time, the score can benefit.
The card is available to customers with poor or bad credit. Even applicants with no-credit history can get this card. Unlike a debit card or other prepaid cards, this secured creditcard can improve credit scores.
The bank charges 19.9 percent interest (APR). There is also an initial fee and a $50 a year annual fee.
By: Tina Brown