What You Need to Know Before You Start

First Premier Bank issues a secured credit card that reports to all three major credit bureaus — Equifax, Experian, and TransUnion. You'll need a cash deposit to open the account, which becomes your credit limit. The card itself carries an annual fee and a higher interest rate than unsecured cards, which is standard for this product category.

The process process takes place online or by phone. First Premier will perform a hard inquiry on your credit report, which temporarily lowers your score by a few points. Most decisions come back within one to three business days, though some applications may take longer if they require manual review.

Key Takeaways

  • You must have a cash deposit ready before you start — this deposit becomes your credit limit and is held by the bank as collateral.
  • The process asks for your Social Security number, income, employment history, and banking information, so gather these details first.
  • First Premier performs a hard credit inquiry, which shows on your credit report and counts toward credit inquiries for about 12 months.
  • After approval, you'll fund your deposit account and receive your card by mail within 7 to 10 business days.
  • The card reports monthly to credit bureaus, so on-time payments build your credit history over time.

Gather Your Documents and Information

Before you open the process, have these items ready: your Social Security number, a valid government-issued ID (driver's license or passport), your current address, your employment information (employer name and how long you've worked there), and your annual income. If you're self-employed, have your most recent tax return or business income documentation available.

You'll also need access to a bank account — First Premier will verify it and link it for your deposit. Have your routing number and account number from your checking or savings account on hand. If you don't have a bank account, you'll need to open one before you proceed.

Complete the Online process

Go to firstpremierbank.com and look for the secured credit card process link. The form asks for your personal information, Social Security number, date of birth, and current address. You'll enter your employment details, including your employer's name, your job title, and how long you've been employed there. If you've changed jobs recently, list your previous employer as well.

The process asks for your annual income and whether you have other credit accounts. Answer honestly — First Premier verifies income information and checks your credit report. The entire form takes about 10 to 15 minutes to complete. At the end, you'll review your information and submit the process electronically.

What Happens After You Submit

First Premier sends a decision within one to three business days. If you're approved, you'll receive an email or phone call with your approval details and instructions for funding your deposit. Some applications go to manual review if there are inconsistencies or if your credit history is very limited — these can take up to five business days.

If you're denied, First Premier will send you a notice explaining the reason. Common reasons include insufficient income, recent late payments, or too many recent credit inquiries. You can reapply after addressing the issue, though waiting 30 to 60 days between applications improves your chances.

Fund Your Deposit and set up Your Card

Once approved, First Premier sends you instructions for funding your deposit account. You'll transfer money from your bank account to First Premier — this becomes your credit limit. For example, if you deposit $500, your credit limit will be $500. The deposit is held as collateral and remains in a separate account; you don't spend it directly.

After your deposit clears (usually two to three business days), your card is activated and mailed to you. You'll receive it within 7 to 10 business days. Some cardholders receive a temporary card number via email that they can use online before the physical card arrives. Check your email for this option after your deposit posts.

Understand the Fees and Interest Rate

First Premier charges an annual fee that varies depending on your credit profile — it typically ranges from $35 to $99 per year. This fee is charged to your account in the first month and then annually on your card anniversary. The interest rate (APR) is also higher than standard credit cards, usually between 19% and 27%, depending on your creditworthiness.

There are no foreign transaction fees, and First Premier doesn't charge late fees if you pay on time. However, if you miss a payment, you'll pay a late fee in addition to interest charges. The card has no grace period on cash advances, meaning interest accrues when ready if you use an ATM.

Use Your Card to Build Credit

After you receive your card, use it for small purchases you'd normally make anyway — groceries, gas, or a subscription service. Pay the full balance or at least the minimum payment by the due date each month. First Premier reports your payment history to all three credit bureaus, so on-time payments build your credit score over time.

Keep your balance low relative to your credit limit — ideally below 30 percent. If your limit is $500, try to keep your balance under $150. This shows lenders you can manage credit responsibly. After 6 to 12 months of on-time payments, you may be able to request a credit limit increase or transition to an unsecured card with lower fees and interest rates.

Frequently Asked Questions

Can I explore if I have no credit history?

Yes. First Premier accepts applicants with no credit history, limited credit history, or poor credit. The secured deposit requirement means the bank has collateral, so they're willing to work with people who haven't built a credit file yet. You'll still need income and a valid ID.

What if my process is denied?

First Premier will send you a written notice explaining why. Common reasons are insufficient income, recent bankruptcy, or too many recent credit inquiries. You can reapply after 30 to 60 days, especially if you've addressed the issue — for example, by waiting for recent inquiries to age off your report or by increasing your income documentation.

Can I increase my credit limit after I'm approved?

Yes, but not when ready. After 6 to 12 months of on-time payments, you can request a credit limit increase. You can either add more money to your deposit account (which increases your limit by that amount) or ask First Premier to increase your limit based on your payment history. Some customers graduate to an unsecured card instead.

What if I want to close the card later?

You can close the account anytime. When you do, First Premier returns your deposit to the bank account you linked during setup. The card will stop reporting to credit bureaus once it's closed, so closing it won't hurt your credit — but it also won't help it. Keep the account open as long as you're building credit.

How long does the whole process take from start to finish?

From process to receiving your card in the mail typically takes 10 to 14 days. The process decision comes within one to three business days, funding your deposit takes two to three business days to clear, and the card ships within 7 to 10 business days after that. Some people receive a temporary card number to use online before the physical card arrives.