Centennial Gold MasterCard - Review

The Centennial card is issued by The First Premier Bank a member of the FDIC. This is an unsecured card created for individuals looking for a second chance.

It offers easy approval and thus has some fees. These include a one time account set up fee of $29, $48 annual fee, and a one time $95 fee.

These fees will be charged against your available credit. Meaning when you are issued your card, you will have these fees on your balance.

Your card will have an initial $250 limit, and a 9.9% APR.

It is issued as a Visa or MasterCard your choice. If you apply online you will have an application response in less than 60 seconds.

If you make your monthly payment on time you can build a positive payment history on your 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 has issued cards to over 3 million people. They are a member of the Better Business Bureau and are located in Sioux Falls, South Dakota.

Your card is accepted worldwide and everywhere you see the Visa or MasterCard logo. You can qualify for approval if you are over 18 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 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.