Centennial Credit Card - Reviewed
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.
It comes with an initial credit limit of $250, and an APR of 9.9%.
It can come as a MasterCard or Visa; you will decide when you apply. Additionally if you apply online you will have a response to your application within 60 seconds.
When making your monthly on time payments you will create a positive payment history on your credit 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.
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 a member of the Better Business Bureau. They are located in Sioux Falls, South Dakota and have issued cards to over 3 million people.
Your card is accepted everywhere the Visa or MasterCard logo is seen. You can qualify for the card if you are over 18 years old 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.
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For more info about Online Credit Cards visit us or for a review of the Account Now Visa a prepaid credit card that allows you to borrow money. Additionally if you would like a free credit consultation call 1-800-253-3735.