A good credit card is one that allows us several possibilities, without necessarily having to depend on a good credit history, right? That’s what Premier Bankcard is offering to all customers. You don’t need a security deposit, nor do you need to be the best customer in credit history.

We did a detailed analysis so that we can help you a little more on this credit card issue, so you can know the advantages and disadvantages to consider getting or not.

Let’s start with the benefits of this credit card so you know what it has to offer your customers.

The first big advantage is that card activity is reported to the credit bureaus. We don’t say it’s a good credit card to build your credit history for nothing. He really is one of the best as he always reports his activity to the agencies.

If you are a good credit card user, you can be sure that you will be able to take advantage of many credit bureaus. Pay on time and always use your credit card to make your purchases and you can be sure that soon you will be much better off at the credit agency.

Did you know that credit card payments account for 35% of your credit score? That’s why you should give so much importance to how this card can help you in this requirement.

You will have access to FICO scores. With this card, you can always be on top of that score. Some credit companies even offer the possibility of staying on top of this feature; however, it is a little rare and you should take advantage of this card being one of them.

Your account can be accessed 24/7 and even with customer support. That is, you will never run out of access, and you can always be on top of the changes and updates that the bank promises.

Another very interesting thing about this credit card is that all users will have access to security features. Mastercard’s identity theft protection is proprietary to the brand that backs the card and therefore is accessible to you and anyone who requests it.

Whenever they try to make a purchase on your credit card, you will not only receive a notification, but also protection in case a purchase is not made by you.

Unfortunately, like all credit cards, this one is also going to have some downsides. We need to talk about them, so that you can make your decision with conscience and transparency.

The first downside is that, yes, the fees are sky-high, extremely high for credit card level. This has an explanation, it’s a card that doesn’t require a security deposit and on top of that it helps you improve your credit history.

Among the fees you will have to pay are the annual fee, monthly fee, penalty fee, additional user fee, express delivery fee and some others. No card withdrawals.

Another thing that also ends up making the card a little less attractive is the APR, which is extremely high. On average, for all cards, they offer this rate for 22.7%. We remind you that this value was updated in January 2023.

In addition, the fee for increasing the limit is also a bit expensive, after all, a fee is charged on top of how much your limit increases, which makes it a little impossible for you to grow within the company.

In addition to receiving your limit increased at this rate, you will be charged 25% of the limit increase amount, which can be quite a lot when you ask for a large increase. Many credit cards these days offer this for free, so it should be something to consider if you’re considering getting the card.

We can even come up with a practical example. Let’s imagine you want to increase your limit by 100 USD. A 25% fee will be required on top of that. That is, you need to pay 25 USD to the bank. Consider these and other disadvantages before applying for the card.

If, despite the disadvantages mentioned above, you are still interested in the credit card, see our step-by-step application. Just click the button below, and you will have access to the complete article to apply for the card.