Centennial Credit Card - Review
The Centennial card is created for individuals with a low credit score. It is issued by the First Premier Bank a member of the FDIC.
There are easy requirements for approval; however it does carry some fees. This includes a one time $95 fee, an account set up fee of $29, and an annual fee of $48.
These fees will be charged against your available credit. Meaning when you are issued your card, you will have these fees on your balance.
Your card will have an initial $250 limit, and a 9.9% APR.
It can be issued as a MasterCard or Visa, you decide. When you apply online you will get a response within 60 seconds of submitting your application.
By making your monthly payments on time you will begin a positive payment history on your report.
Additionally your utilization ratio is very important. This is the amount of debt you have compared to your available credit. If you can keep your monthly balance at roughly 30% of you limit it will help the most.
This means you want to keep your monthly balance around $75. After six 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.
Your card is accepted worldwide and everywhere you see the Visa or MasterCard logo. You can qualify for approval if you are over 18 and have a valid social security number.
Recently we have seen a rise in interest rates even with prime lending. Some rates have jumped to an outrageous 30% without cause, meaning the customer did not pay late.
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.
There are easy requirements for approval; however it does carry some fees. This includes a one time $95 fee, an account set up fee of $29, and an annual fee of $48.
These fees will be charged against your available credit. Meaning when you are issued your card, you will have these fees on your balance.
Your card will have an initial $250 limit, and a 9.9% APR.
It can be issued as a MasterCard or Visa, you decide. When you apply online you will get a response within 60 seconds of submitting your application.
By making your monthly payments on time you will begin a positive payment history on your report.
Additionally your utilization ratio is very important. This is the amount of debt you have compared to your available credit. If you can keep your monthly balance at roughly 30% of you limit it will help the most.
This means you want to keep your monthly balance around $75. After six 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.
Your card is accepted worldwide and everywhere you see the Visa or MasterCard logo. You can qualify for approval if you are over 18 and have a valid social security number.
Recently we have seen a rise in interest rates even with prime lending. Some rates have jumped to an outrageous 30% without cause, meaning the customer did not pay late.
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.
About the Author:
We suggest the Total Visa an unsecured bad credit card, we also suggest the Account Now Visa a prepaid card with the ability to borrow.
posted by Credit Counseling at
11:40 AM
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