The pros of being a credit card owner

The use of credit cards has now become a way of life. Credit cards have turned into something without which individuals cannot survive comfortably. Thanks to the credit cards which Americans have been using since 1959!  American Express had introduced plastic credit cards. The First Premier Bank is the 12th largest issuer of Mastercard® credit cards in the nation and the credit cards from this bank offer low credit scores.

The First Premier Bank has a strong reputation that serves individuals, organizations and businesses by offering comprehensive banking and trust services. Credit cards usually have a bad reputation but these cards can be a major financial tool if used responsibly by the cardholder. Moreover, there can be many advantages of being a credit card owner.

Various types of credit card fees:

  • Late Payment Fee: Any payments made late will have to provide a late payment fee.
  • Balance Transfer Fee: When the balance transfer from one card to the other occurs, a fee is charged on the card receiving the balance transfer.
  • Cash Advance Fee: Cash withdrawal from the credit card for a percentage fee is allowed in case the individual doesn’t have a credit card.
  • Foreign Transaction Fee: When the credit card is used outside the country of its origin, the issuer will charge a fee to cover the costs associated with using a foreign bank or currency. Some cards waive this fee.
  • Over-the-credit Limit Fee: The issuer can charge this fee for covering a transaction that went over the card’s credit limit.
  • Annual Fee: This fee is charged annually for account maintenance. Certain cards waive this fee or charge every month.
  • Returned Payment Fee: When the credit card payment fails as a result of insufficient funds, the issuer can charge this fee.
  • Convenience Fee: Some issuers charge this fee for using a credit card instead of cash.

Reasons to use First Premier Bank Credit Cards 

  • Gain one-time bonuses
  • Get cashback and rewards
  • Gain frequent flyer miles
  • Be safe from theft or fraud
  • Get a grace period to payback
  • Avail insurance
  • Build credit

Pros of being a First Premier Bank credit card owner  

  • Record keeping: Owning a credit card is a record of spending which reflects in the monthly statement. Some credit cards send year-end summaries as well.
  • Low-cost loans: If an individual needs to spend urgently, they can use the credit card and pay off the charge after they get their salary.
  • Cash advances: In this case, the individual can use the money in advance. The point to be noted is that cash advances often have a higher interest rate.
  • Member perks: The customer of First Premier Bank credit cards can avail a wide range of discounts or cash back based on the purchases made using the credit card.
  • Build good credit history: Paying off the credit on time will help in gaining a good credit rating. This can help in building a good credit history.
  • Purchase protection: If a customer would like to return a faulty or a defective product, the credit card offers purchase protection. For the same scenario, a debit card would offer purchase protection only after completing an investigation.

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