Centennial Credit Card - Review
The Centennial credit card is an unsecured card created for individuals with a damaged credit report. It is issued by First Premier Bank an FDIC member.
It has easy approval requirements, but does carry some fees. Including a one time $95 fee, an account set up fee of $29, and an annual fee of $48.
These charges are assessed to your available credit limit. When you receive your card you will have these charges shown on the 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.
Your utilization ratio is also an important factor in your score. This is the amount of debt you have compared to how much available credit you have. Your score will get the most benefit if you can keep your balance at roughly 30% of you limit.
In other words a $250 limit, you want to keep your balance at $75. You will be eligible for a credit limit increase after six months.
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 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.
Lately there has been a rise on interest rates, even on good credit cards. The rates have jumped to around 30% and this is without cause. This Means that interest rates are rising even on customers that pay on time.
In sum we suggest you look into all your options for credit. It may make more sense to do some work on removing negative marks or apply for a secured or prepaid card instead.
It has easy approval requirements, but does carry some fees. Including a one time $95 fee, an account set up fee of $29, and an annual fee of $48.
These charges are assessed to your available credit limit. When you receive your card you will have these charges shown on the 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.
Your utilization ratio is also an important factor in your score. This is the amount of debt you have compared to how much available credit you have. Your score will get the most benefit if you can keep your balance at roughly 30% of you limit.
In other words a $250 limit, you want to keep your balance at $75. You will be eligible for a credit limit increase after six months.
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 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.
Lately there has been a rise on interest rates, even on good credit cards. The rates have jumped to around 30% and this is without cause. This Means that interest rates are rising even on customers that pay on time.
In sum we suggest you look into all your options for credit. It may make more sense to do some work on removing negative marks or apply for a secured or prepaid card instead.
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For more info about Online Credit Cards visit us or for a review of the Rush Card a prepaid card visit us.
posted by Credit Counseling at
12:50 PM
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