What the First Premier process process looks like

First Premier Bank's credit card process is available online at firstpremierbank.com or by phone at 1-866-935-3735. You'll need your Social Security number, current income, and housing information to complete the form. The bank reports that decisions typically come within one to three business days, though some applications take longer if they require manual review.

First Premier is known for approving people with poor credit histories, limited credit, or past delinquencies. The trade-off is a high annual percentage rate (APR) — currently 27.99% — and an annual fee of $95 in the first year, then $75 annually. The card also comes with a required deposit account that holds a portion of your credit limit as collateral.

Key Takeaways

  • First Premier approves applicants with credit scores below 600 and accepts people with recent late payments, charge-offs, or bankruptcy.
  • The card charges 27.99% APR and a $95 first-year annual fee, so carrying a balance costs significantly more than cards for people with better credit.
  • You must open a deposit account with First Premier and maintain a minimum balance that secures part of your credit limit.
  • The process takes five to ten minutes online and you'll know the decision within a few business days.
  • First Premier reports payment history to all three credit bureaus, so on-time payments can help rebuild your credit score over time.

What documents and information you'll need

Have your Social Security number, current annual income, and employment status ready before you start. You'll also need your current address and phone number. If you're self-employed or your income is irregular, have a recent tax return or pay stub available to support your stated income — the bank may ask for it during review.

You do not need to provide proof of income upfront to submit the process, but First Premier may request documentation before approval if your stated income seems inconsistent with your credit profile. If you're denied, the bank will send you a notice explaining the reason, which typically relates to income verification or a recent bankruptcy.

The deposit account requirement

First Premier requires you to open a savings account with the bank and maintain a minimum deposit. Your credit limit is tied directly to this deposit — if you deposit $500, your credit limit will be $500. The deposit earns a small amount of interest, but the rate is typically below 0.5% annually. You cannot withdraw the deposit while the card account is open; it serves as collateral against the credit line.

This structure means you're not borrowing money you don't have. You're borrowing against your own deposit, which reduces First Premier's risk and allows them to approve people with poor credit. If you close the account, First Premier will return your deposit, minus any unpaid balance on the card.

How the APR and fees work

The 27.99% APR applies to purchases, balance transfers, and cash advances. Interest accrues daily on any balance you carry past the grace period. If you charge $500 and pay it in full by the due date each month, you pay no interest. If you carry even $100 forward, you'll pay roughly $2.33 in interest that month at the current rate.

The $95 annual fee posts to your account in the first year, then $75 each year after. Some cardholders see this fee waived after demonstrating consistent on-time payments for 12 months, though this is not may provide. First Premier also charges a $25 late fee if you miss a payment and a $35 returned-payment fee if a check or automatic payment bounces.

What happens after approval

Once approved, you'll receive your card in the mail within 7 to 10 business days. You'll also receive instructions for activating your deposit account online or by phone. Your credit limit will match your deposit amount — if you deposited $300, you have a $300 limit. You can request a credit limit increase after six months of on-time payments, though approval is not may provide.

First Premier reports your account activity to Equifax, Experian, and TransUnion each month. This means every on-time payment builds your credit history, and every late payment damages it. If you use the card responsibly — keeping your balance low and paying on time — your credit score should improve within 6 to 12 months, which may open doors to cards with lower rates and no annual fee.

When First Premier might deny you

First Premier will deny your process if you have an active fraud alert on your credit file, a recent bankruptcy (within the last 12 months in some cases), or an unpaid judgment against you. The bank also denies applications from people who list income they cannot document or who have multiple recent inquiries from other lenders in a short window.

If you're denied, you can reapply after 30 days. In the meantime, check your credit report for errors at annualcreditreport.com (the only free, official source) and dispute anything inaccurate. You can also call First Premier's reconsideration line at 1-866-935-3735 within 30 days of denial to ask if additional information would change the decision.

Alternatives if First Premier isn't right for you

If the 27.99% APR and $95 annual fee feel too steep, other bad-credit cards exist with lower rates or no annual fee. Secured cards from Capital One, Discover, and U.S. Bank also require a deposit but charge lower APRs (typically 18% to 24%) and no annual fee. The trade-off is that these cards have stricter approval standards and may deny you if your credit is very recent or very damaged.

If you have no credit history at all — rather than bad credit — a student card or a card designed for people building credit (like Discover it Secured) may be easier to get. If you're rebuilding after bankruptcy, waiting six months before explore anywhere can improve your odds across all issuers. First Premier's strength is that it approves people other banks turn down when ready, so it's worth considering if you've been denied elsewhere.

Frequently Asked Questions

Can I explore if I'm currently in bankruptcy?

First Premier may approve you if your bankruptcy was discharged more than 12 months ago. If your case is still open or very recent, you'll likely be denied. Call the reconsideration line at 1-866-935-3735 to ask whether your specific situation qualifies.

What credit score do I need?

First Premier does not publish a minimum credit score. The bank approves people with scores below 600 and even those with no credit history at all. Your score matters less than your income, recent payment history, and whether you have unpaid judgments or active fraud alerts.

Can I increase my credit limit without depositing more money?

After six months of on-time payments, you can request a credit limit increase. If approved, your limit will increase, but your deposit stays the same — you're no longer borrowing against your full deposit. First Premier does not may provide approval of limit increases.

What happens if I can't pay my balance?

Contact First Premier when ready at the number on your statement. The bank may work out a payment plan, though late fees and interest will continue to accrue. If your account goes 180 days unpaid, First Premier can take the money from your deposit account to cover the debt.

How long does it take to rebuild my credit with this card?

Most people see meaningful score improvement within 6 to 12 months of on-time payments, assuming they have no other negative marks on their report. The longer your payment history, the more it helps. After 12 to 18 months of perfect payments, you may may have access to for unsecured cards with lower rates.