First Premier - Centennial Gold Credit Card

Editor's Review: The Centennial Gold MasterCard/Visa, which is issued by First PREMIER Bank, is a credit card designed especially for individuals who have less than perfect credit but who wish to have the freedom and flexibility of a credit card.

In order to receive the Centennial Gold MasterCard/Visa card, the applicant must be willing to pay several fees. Each of these fees will be billed to the credit card on its first statement. The fees include a $29 account set-up fee, a $48 annual fee, and a $95 program fee. There is also a monthly $6 participation fee. The total fees for the first year, therefore, are $244. In addition, the cardholder's available credit is limited until these fees are paid. Fees such as these are commonly associated with cards designed especially for people with poor credit or limited credit.

The APR for the Centennial Gold MasterCard/Visa is lower than many cards of its type. In fact, the APR for purchases is a low 9.90% fixed rate and the APR for Cash Advances is a low 19.90% fixed rate. It is, however, important to keep in mind that the fees associated with the card are subject to finance charges. In addition, a cardholder who does not pay his or her bill on time two times in a six-month period or who does not pay the bill on time two times in a row will have the APR for purchases increased to 19.9%.

One of the greatest benefits of the Centennial Gold MasterCard/Visa is that transactions made with the credit card are reported to all four credit bureaus. This is not always the case with similar cards. Because the credit card transactions are reported to the credit bureaus, the Centennial Gold MasterCard/Visa does wonders in helping those with a less-than-perfect credit history. In addition, the card offers fraud and security protection services to the cardholder.

Additional cardholders can be added to the Centennial Gold MasterCard/Visa for $20 per year. In addition, the minimum credit limit available is $250 and the maximum is $1,000. Going over the limit results in a $25 fee and late payments cause another $25 fee.