The Aventium Classic Credit Card is a MasterCard issued by First PREMIER Bank. Like most other cards issued by First PREMIER, the Aventium Classic Credit Card is considered to be one of the partially secured credit cards. That is, if approved, cardholders pay a $75.00 deposit to obtain an initial $300.00 credit line.
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First PREMIER Bank has been around for almost a century. In the past 20 years, the company has focused on the so-called “sub-prime” borrower marketplace. First PREMIER Bank helps consumers with bad credit to rebuild credit. However, the costs of rebuilding credit have caused some people to refer to the Aventium Classic Credit Card as a “fee harvester” card.
Aventium Classic Credit Card and “Fee Harvester” Characteristics
People with good to excellent credit know that applying for a credit card doesn’t involve a fee. When a cardholder decides to apply for the Aventium Classic Credit Card, he will pay $75 annually to maintain the $300.00 credit line. In addition, the account will be assessed a processing fee of $95.00. Fees assessed to the card must be paid on time: First PREMIER Bank charges a 49.9% annual percentage rate (APR).
After paying the annual and processing fees on the account, the cardholder has low purchasing power. When the cardholder demonstrates a sound payment track record, First PREMIER Bank offers credit limit increases. As a partially secured card, the credit line increase costs about half of the credit line. For example, a $200 credit limit increases will cost $100.
Aventium Classic Credit Card Bill Cycle
Carrying the Aventium Classic Credit Card can certainly help some consumers to rebuild credit. Cardholders must understand the billing cycle and when their payments are due. To avoid accruing financial charges at an annual percentage rate of 49.9%, some cardholders simply repay First PREMIER Bank immediately after charging anything to the account.
Some cardholders simply decide to pay their Aventium Classic Credit Card on the same day each month. First PREMIER Bank offers the convenience of paying the credit card bill with a debit card.
Accessing an online statement will cost the consumer a small fee of $3.95 per occurrence. For that reason, most cardholders keep careful records of any charges and payments made to the account.
Aventium Classic Credit Card Basic Information
The new cardholder pays $75.00 to apply for the Aventium Classic Credit Card. First PREMIER Bank says that the available credit is $225.00. However, the cardholder must pay a $95.00 administrative fee to activate the account. Therefore, the available credit on the $300.00 credit line is about $130.00 at the outset.
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