Centennial Secured Credit Card

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Centennial Secured Credit CardAfter bankruptcy, most consumers seek credit-building opportunities, such as the Centennial Secured Credit Card. Issued by First PREMIER Bank in Sioux Falls, South Dakota, this card allows the consumer to obtain the benefits of a credit card. Unlike most traditional credit cards, a secured credit card limits the consumer’s line of credit to the security deposit held by the issuer.

Comparing credit card costs can help save hundreds of dollars a year in interest charges and other fees—start by using our free credit card chaser tool to compare credit cards now!

First PREMIER Bank, owned by United National Corporation, specializes in offering sub-prime credit card loans to people with bad credit. The company makes no apologies for its exceptionally high annual percentage rates and other fees associated with carrying a Centennial Secured Credit Card.

Centennial Secured Credit Card Features

Obtaining a secured credit card may be the only option for some people. Most traditional credit card issuers are reluctant to offer new credit cards to the recently bankrupt consumer. Upon discharge of unsecured debt, such as credit cards, new lenders want to see that the consumer has learned from his financial mistakes.

A fully secured credit card, such as the Centennial Secured Credit Card, limits the issuer’s risk. The cardholder must deposit 100% of the credit line he desires, in addition to application, processing, maintenance, and other costs.

If the consumer pays his card late, the Centennial Secured Credit Card charges $35.00 per month plus finance charges.

Centennial Secured Credit Card Benefits

For consumers who can’t obtain traditional unsecured credit cards, paying the hefty fees and security deposits can help to rebuild a positive credit profile. First PREMIER Bank reports the card holder’s payment history to the three major credit reporting organizations.

If the cardholder runs into a cash crunch, he can opt to take a cash advance or finance purchases with his Centennial Secured Credit Card. Unfortunately, the finance charges associated with the account will rapidly increase his debit balance.

Cardholders should manage a Centennial Secured Credit Card account with care to avoid new fees, such as “over credit limit” charges. The goal of using the secured credit card to obtain better credit can be diminished by plentiful fees imposed by the issuer.

Comparing rates of online credit cards with the free credit card chaser tool is a great way to protect your financial health!

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Disclaimer: This content is not provided or commissioned by American Express, Visa, MasterCard, Discover, or any other credit card company or issuer. The opinions expressed here are the author's alone, not those of any credit card company or issuer, and have not been reviewed, approved or otherwise endorsed by any credit card company or issuer. Credit Card Chaser may be compensated through various affiliate programs with advertisers. As always, Credit Card Chaser is an independent website commmitted to helping people research credit card offers and find the best credit card!

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