Centennial Credit Card - Review

Credircard 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 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 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.

If you make your monthly payment on time you can build a positive payment history on your report.

Your utilization ratio is also very influential on your score. This is how much debt you have versus unused credit. It will help your score if you keep a monthly balance of around 30% of your 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 a member of the Better Business Bureau. They are located in Sioux Falls, South Dakota and have issued cards to 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 at all your options. It could be more cost effective to apply for a secured or prepaid card. Additionally you might want to focus on repairing your damaged credit report and then apply for a card.

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