About.com Rating
This card from First Premier Bank makes its Secured Card look positively cheap by comparison.
Who the Aventium Gold MasterCard Is For
Credit Rating Required
About the Aventium Gold MasterCard
Pros
Cons
Rewards
APRs
Fees
Aventium Gold MasterCard Review
You're not seeing things. The APR is 59.9 percent. That's in addition to the $75 processing set-up fee and the $75 annual fee starting in the second year (billed to your account at $6.25 a month). And all you get for that is a tiny $300 credit limit.
If you want a bigger credit limit, you'll pay even more fees. Each time your account is eligible and approved for a credit limit increase, you'll be charged a fee equal to 25 percent of the credit limit increase. For example, if you're approved for a $100.00 increase, you will be charged $25.00, which gets added to your balance. That means your credit limit increase will actually be $75, not $100. And of course that balance will be incurring that 60 percent APR the entire time.
The maximum credit limit increase is $100, and you won't be eligible to get one for at least 13 months after you open your account.
This card is issued by First Premier Bank, which also issues identical cards under the names First Premier Bank Gold MasterCard and Centennial Gold.
Recommendation
This card is only for the most desperate people who are willing to pay any price to get an unsecured credit card - but even then it's not worth it. First Premier's Secured MasterCard ranked as one of the worst secured cards. This card makes the secured card look like a bargain by comparison.
This card from First Premier Bank makes its Secured Card look positively cheap by comparison.
Who the Aventium Gold MasterCard Is For
- People with bad credit who are desperate to get a credit card.Â
Credit Rating Required
- Bad (below 620)
About the Aventium Gold MasterCard
Pros
- Annual fee is waived the first year. Â
Cons
- Outrageously high interest rates.
- High annual fee.
- High processing fee.
- Tiny credit limits.
Rewards
- None.
APRs
- 59.9 percent on purchases and cash advances.
Fees
- Processing fee: $75.
- Annual fee: $75 (waived the first year), billed at $6.25 a month.
- Late payment fee: Up to $35.
- Returned item fee: Up to $35.
- Credit limit increase fee: 25 percent of credit line increase.
Aventium Gold MasterCard Review
You're not seeing things. The APR is 59.9 percent. That's in addition to the $75 processing set-up fee and the $75 annual fee starting in the second year (billed to your account at $6.25 a month). And all you get for that is a tiny $300 credit limit.
If you want a bigger credit limit, you'll pay even more fees. Each time your account is eligible and approved for a credit limit increase, you'll be charged a fee equal to 25 percent of the credit limit increase. For example, if you're approved for a $100.00 increase, you will be charged $25.00, which gets added to your balance. That means your credit limit increase will actually be $75, not $100. And of course that balance will be incurring that 60 percent APR the entire time.
The maximum credit limit increase is $100, and you won't be eligible to get one for at least 13 months after you open your account.
This card is issued by First Premier Bank, which also issues identical cards under the names First Premier Bank Gold MasterCard and Centennial Gold.
Recommendation
This card is only for the most desperate people who are willing to pay any price to get an unsecured credit card - but even then it's not worth it. First Premier's Secured MasterCard ranked as one of the worst secured cards. This card makes the secured card look like a bargain by comparison.