Centennial Secured credit cards is issue by First PREMIER Bank.This specific secured  credit card offer basic secured credit cards features for those who have no or poor credit.And give you the ability to building you credit to apply a regular credit card.

Like other of secured credit cars to help establish as well as re-build his or her credit scores so long as the issuer reports to credit reporting agencies (see offer details below about reporting information). You can build, rebuild, or reestablish your credit by making on-time payments to all of your creditors and maintaining your balances under the credit limit.

The Centennial Secured Credit Card is a real credit card, not a prepaid or debit card. Your account activity reports monthly to the major Consumer Reporting Agencies and security deposits are held in an FDIC-insured account.

APR AND FEES

APR:19.9% The apr is depends on multiplying the “Average Daily Balance” for Purchases and Cash Advances outstanding through the monthly Billing Cycle by the monthly “Periodic Rate”. The monthly “Regular Rate” for Purchases and for Cash Advances is determined by dividing the ANNUAL PERCENTAGE RATE (APR) by 12. The monthly “Periodic Rate” for Purchases is 1.6583%, which is equivalent to an ANNUAL PERCENTAGE RATE of 19.9%. The monthly “Periodic Rate” for Cash Advances is 1.6583%, which is equivalent to an ANNUAL PERCENTAGE RATE of 19.9%. This ANNUAL PERCENTAGE RATE will be applied to fees assessed to your Credit Account as well as to Purchases and Cash Advances.

Annual Fee: $50 the annual fee is $50 per year.The Annual Fee will be charged on the first Billing Cycle after you have accepted this secured credit Card and in about the same price for next year.

Credit Limit Increase Fee:if you want increase your credit limit ,you need pay Credit Limit Increase Fee.the credit limit increase fee is the amount of the the credit limit increase.As an example: If approved to get a $100.00 credit limit increase, a $25.00 Credit Limit Increase Fee will be assessed to your Credit Account, which will result in an additional available credit of $75.00 on your Credit Account. This fee is automatically assessed upon approval of your credit limit increase, which could be as soon as your Credit Account has been open for 13 months. Refer to the Refund Disclosure for additional information.

other features
1.Security deposits are held in an FDIC-insured account
2.No credit history required
3.Your account activity reports monthly to the major Consumer Reporting Agencies
4.This is a real credit card – not a prepaid or debit card
5.Pay one security deposit on this credit card, instead of repeated reloadings with prepaid cards
6.Don’t be fooled by others; apply for a real credit card
overview
As with all secured credit cards, $50 annual fees and 19.9%interest rate is high. If you have bad credit,there are many other better secured credit cards which have low annual fee and apr !

 secured credit cards with low apr 

The Aventium Classic Credit Card is one of the many secured credit cards issued by First Premier Bank. Unlike other secured cards, the Aventium Classic Credit Card is partially secured, which means you can get a $300 credit line by depositing only $75. Sounds exciting? I’m sure you won’t be after you have gone through all the terms and conditions.

Who this card is fit for?

People with a bad or no credit at all and are trying to renew their credit.

Fees

Annual fee: $75. You will have to pay an annual fee of $75 to maintain the $300 credit line. This is something that will definiterly thrill the potential applicants. You don’t need to deposit a certain amount as colleteral to use this card for it will be included in the annual fee.

Processing fee: $95. You have to pay $95 to activate your account.

Online account accessing fee: $3.95 for each occurrence. You can avoid paying the extra fee by keeping a record of the charges and payments made on your account.

APR

The APR can be as high as 49.9%. but on the positive side, the 49.9% APR may force you to form a habit of paying off your balances on time at full.

Credit limit

Cardholders can have a credit limit of up to $300 by paying an annual fee of $75. But if you show good credit, the bank might offer you a credit increase. Considering that this is a partially secured card, the credit line increase only costs half of the increased amount. For example, if you want a $500 increase in your credit line, you only have to pay $250 for that.

You also need to open a checking account at the First Premier Bank first. The bank is prompt at approving your application, so you can expect to use the card soon after you apply. It helps consumers with bad credit to rebuild their credit by reporting to major consumer reporting agencies monthly. However, the costs of rebuilding credits is so much that some people even refer to the The Aventium Classic Credit Card as “fee harvester”.

Like any other secured credit cards, the First Premier Bank Secured Credit Card is issued to meet the needs of people with bad credit or no credit at all. Therefore, it shares the features belong to a secured credit card.

No credit history required to apply for this credit card,you can use it as you first credit cards.

Annual fee: $50, which will be charged in the first month. The annual fee for this card is much higher than other secured cards like the Orchard Bank MasterCard, which only charges $35 from the second year after opening the account.And Citi secured credit card only need $29.

APR: 19.9% for all purchases and cash advance.

Account maintenance fee: $36 per year on closed credit accounts with a balance of $20 or more. The fee will not be included in your credit account for the first year.

Foreign transaction fees: 3% of the transaction amount.
Late payment fee: $29 for balances not exceeding $500(including $500). $35 for balances exceeding $500.

Fees for returning items you return: $29

Credit Limit: You can have a credit limit from $200 to $5000 depending on the secure deposit you put in as colleteral. But you can build your credit limit overtime. if the bank increases your credit limit, it requires that you only post 50% of that amount as a deposit. So, if your credit limit increase is $100, you only have to put up an additional $50 as a security deposit. However, it won’t consider increasing your credit limit until you’ve been a customer for more than a year, and even then the increase won’t be more than $100.

Regular reporting to major credit bureaus: The credit company is responsible for reporting your credit to the 3 major credit agents, which will help you build up a good record.

Considering its high interest and penalty fees, you are advised to pay your balnce at due amount on time. Compared with other secured credit cards like the Orchard Bank MasterCard which offers an annual fee of $35 with the first $35 waived and a low APR of 7.9%, the benefits the First Premier Bank Secured Card can give are too limited.

Tthere are many fees involved that you must be aware of. There is an Account Set-up Fee of $29.00, a Program Fee of $95.00, and Annual Fee of $48.00, a Monthly Servicing Fee of $84.00, and an Additional Card Fee of $20.00. This means that you will have a total monthly fee of $276 per month in order to have this card.

On that point actually not a whole lot to recommend this card, unless you just can’t get accepted by any other bank .