Review of the Centennial Gold Credit Card

The Centennial Gold credit card was last reviewed on 28th June 2006

centennial gold credit
Summary - The Centennial Gold Credit Card is an unsecured credit card designed for those looking to re-establish their credit. It is issued by First Premier Bank and has identical features as other First Premier Bank Cards. Find out more...

Fees - As with most other credit cards in this category, there are quite a few up front fees. Firstly, you will have to pay a one-time account setup fee of $29.00, a one-time program fee of $95.00. The annual fee is $48.00. There is also an annual participating fee of $72.00 which is charged to the cardholder at $6.00 month. The annual fee for an additional card is $20.00. The initial credit limit given is at least $250. Therefore, if you get an initial credit limit of $250, your true credit limit is $72.00, after deducting all the above mentioned fees of ($178.00). If you credit limit is increased, you will be charged a credit limit increase fee of $25.00.

The strong point of this credit card is that the APR is quite low at a fixed rate of 9.90%, which is very low for a credit card that targets to people with no or poor credit.

Verdict - There are quite a few credit card companies that specifically issue cards to those with bad or no credit. Typically, these credit cards have high fees in the form of annual fees, set-up fees etc. The First Premier Bank is no exception. However, the key strength of this card is that it has a very low apr of 9.90% (fixed rate). Hence, if you have bad credit, want an unsecured card with a low apr, you may want to conside the Centennial Gold MasterCard®

  • Low apr
  • 25 day grace period

  • High fees (normal for sub-prime cards)

Centennial Gold Card
Credit Limits
Credit Agency Reporting Reports to 4 credit bureaus
Card Benefits
Cost/Fees/Interest rates
Annual Fees $48.00
Annual Participation Fees $72.00 - billed at $6.00 a month
One-time Account Setup Fee $29.00
One-time Program Fees $95.00
Additional Card Annual Fee $20.00
First Year Fees $178.00
Purchase APR 9.90% Fixed
Cash Advance APR 23.90% Fixed
Min Finance Charge $0.50
Grace Period 25 days
Balance Calculation Method Average Daily Balance (including new purchases)
Cash Advance fee Greater of 3% or $5.00
Credit Increase fee $25.00
Over-the-credit-limit fee $25.00
Late Payment fee $25.00

Apply for the Centennial Gold MasterCard®

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