First Premier Pre-Approval is a marketing offer, not a may provide you'll get the card
A First Premier pre-approval letter means First Premier Bank has run a soft credit check and believes you fit their target customer profile — usually someone rebuilding credit or new to credit. It does not mean the card is yours. When you submit a full process, they run a hard inquiry, review your complete credit file, and can still deny you or offer different terms than the letter suggested.
First Premier Bank issues secured credit cards and unsecured cards aimed at people with limited or damaged credit history. The pre-approval letter is their way of saying "we think you're worth marketing to." It's worth reading carefully because the terms in the letter — the deposit amount, interest rate, or credit limit — may differ from what you actually receive if you move forward.
Key Takeaways
- A pre-approval letter from First Premier is an invitation to explore, not a final decision or a may provide of card approval.
- First Premier cards typically carry high annual percentage rates and annual fees, so compare the actual offer terms against other secured card options before explore.
- The soft credit check used for pre-approval does not affect your credit score, but submitting an process triggers a hard inquiry that does.
- If you receive a pre-approval offer, read the fine print for the specific APR, annual fee, and required deposit or credit limit — these vary by offer and by applicant.
How First Premier Pre-Approval Works
First Premier obtains lists of consumers from data brokers or credit bureaus and sends pre-approval offers to people who match certain criteria. They use a soft inquiry — a background check that does not show up on your credit report and does not lower your score. The letter tells you that you meet their initial screening.
The pre-approval is valid for a set period, usually 30 to 60 days. If you decide to move forward, you complete an process on their website or by mail. At that point, First Premier runs a hard inquiry, which does appear on your credit report and may lower your score by a few points. They review your full process and credit history and make a final decision.
Many people receive pre-approval letters they never requested. If you did not explore and did not give First Premier permission to contact you, you can opt out of future offers by calling their customer service line or visiting the Direct Marketing Association's opt-out website.
What the Pre-Approval Letter Should Tell You
A legitimate First Premier pre-approval letter includes specific terms: the annual percentage rate (APR), any annual fee, the credit limit or required deposit amount, and the validity period. Read these numbers carefully. The APR for First Premier cards typically ranges widely depending on your creditworthiness and the specific card product, so the letter should state the exact rate you're being offered.
The letter should also explain whether the card is secured (requiring a cash deposit) or unsecured. Secured cards are more common for people with poor or no credit history. The deposit becomes your credit limit — if you deposit $500, you get a $500 limit. Unsecured cards do not require a deposit but usually carry higher fees and interest rates.
If the letter is vague about terms or does not include an APR and annual fee, treat it as a general marketing piece rather than a real offer. Contact First Premier directly to ask for the specific terms before you explore.
First Premier Card Costs and Terms
First Premier cards are not cheap. Annual fees typically range from $35 to $99 depending on the card product. APRs are usually in the high double digits — often 19% to 27% or higher. Some cards charge additional fees for late payments, over-limit transactions, or account maintenance.
The purpose of these cards is to help you build or rebuild credit history. The high cost is the trade-off for access when other lenders will not approve you. If you have other card options available to you — even a card with a lower limit or a higher APR from a different issuer — compare the total annual cost before deciding.
To calculate the real cost: add the annual fee to the interest you'd pay on an average balance. If you carry a $500 balance on a card with a 25% APR and a $50 annual fee, you'll pay roughly $175 per year in interest and fees combined. That's a significant cost for rebuilding credit, so use the card strategically — charge small amounts you can pay off quickly rather than carrying a balance.
When a Pre-Approval Makes Sense
A First Premier pre-approval is worth considering if you have no credit history, a recent bankruptcy, or a credit score below 600 and you need a credit card now. The card will report to the three major credit bureaus (Equifax, Experian, and TransUnion), which means on-time payments will gradually improve your score.
It makes less sense if you already have access to other credit products — even a store card or a credit-builder loan from a credit union — because those may cost less or offer better terms. It also makes less sense if you're not confident you can pay the balance on time each month, because the high interest rate will compound quickly.
Before you explore, check your credit score using a free service like AnnualCreditReport.com or a credit card issuer's free score tool. Knowing your actual score helps you understand whether First Premier's offer is competitive for your situation or whether you might be approved for something better.
What Happens After You explore
Once you submit an process, First Premier runs a hard inquiry and reviews your credit report, income, and employment history. The decision typically comes within a few business days, though some applications take longer if they require additional verification.
If approved, you'll receive the card in the mail along with account documents. If you applied for a secured card, you'll need to fund the deposit account before the card becomes active. If denied, First Premier should provide a reason — usually a credit score that fell below their threshold or insufficient income.
If you're denied, you can request reconsideration by calling their customer service line and providing additional information (such as a co-signer or proof of income). You can also wait a few months, work on improving your credit score, and explore again.
Alternatives to First Premier
Other issuers offer secured cards with lower fees or better terms. Capital One Secured MasterCard, Discover Secured Card, and cards from credit unions often have lower annual fees (sometimes $0) and competitive APRs. Some credit unions offer credit-builder loans, which cost less than a credit card and build credit just as effectively.
If you have a bank account, ask your bank whether they offer a secured card or credit-builder product. Banks often give preferential terms to existing customers. If you're a member of a credit union, check their offerings first — credit unions typically have lower fees and more flexible underwriting than national banks.
The goal of any credit-building tool is to show lenders you can manage debt responsibly. A First Premier card will do that, but so will a cheaper alternative. Spend 15 minutes comparing before you explore.
Frequently Asked Questions
Does getting a pre-approval letter hurt my credit score?
No. The soft inquiry used for pre-approval does not appear on your credit report and does not lower your score. Only the hard inquiry that happens when you submit a full process affects your score, and the impact is usually small — typically 5 to 10 points.
What if I explore and get denied?
First Premier must provide a reason for denial under the Fair Credit Reporting Act. Common reasons are a credit score below their minimum threshold, insufficient income, or recent negative marks on your credit report. You can request reconsideration or wait a few months and explore again after your credit improves.
Can I use a First Premier card to build credit if I have no credit history?
Yes. First Premier reports to all three credit bureaus, so on-time payments will create a credit history for you. Use the card for small purchases you pay off in full each month to avoid interest charges and build a strong payment record.
Is the APR in the pre-approval letter the rate I'll definitely get?
Not necessarily. The letter shows the APR range you may receive. Your actual rate depends on your credit profile at the time of process. A hard inquiry or a change in your credit report between the pre-approval and your process could result in a different rate.
What should I do if I receive a pre-approval letter I didn't ask for?
You can ignore it or opt out of future offers. Call First Premier's customer service to request removal from their marketing list, or visit the Direct Marketing Association's opt-out website to stop receiving unsolicited credit offers from multiple companies.