Centennial® Classic Credit Card Review

 Card Stats:

centenialMinimum Security Deposit: $150
Maximum Security Deposit: Unknown

Interest Rate:  36%
Introductory Interest Rate: None
Grace Period: 27 days
Foreign Transaction Fees: 3% of each transaction amount in U.S. dollars
Annual Fees: $75 for the first year, $45 per year after first year. There is also a monthly servicing fee (waived first year) and $6.50 per month after that.
Application Fees: None
Rewards Program: None
Signing Promotion: None
Interest Earned on Security Deposit: No

Other Features:

None listed

Editor’s Review

This review was provided by William Charles, editor of Doctor of Credit. 

What we can we say about this card that’s positive? Pretty much nothing. It has the highest annual fee, it’s the only card with a monthly servicing fee, it has no rewards program AND it has the highest interest rate of all secured credit cards on the market. The only positive is that’s it’s a partially secured credit card (meaning the secured you deposit you put down is less than the credit limit. A security deposit of $150 gets a credit limit of $300). Although the fees this card has almost completely wipes out the difference.

Nobody, repeat NOBODY should ever apply for this card.

Annual Fees

$75 per year, and then $45 per year after that. But the second year has a monthly account servicing fee of $6.5 per month so the annual fees actually look like this:

Year one: $75
Year two onwards: $123

The annual fee for year one is the highest they are legally allowed to have under the CARD act. This card has the highest annual fee of any secured credit card on the market currently.

[Read: Secured Credit Cards With No Annual Fee]


This card has a massive 36% APR, which is also the highest out of all the secured cards.

Rewards Program

This card doesn’t have a rewards program. Here is a full list of secured cards with a rewards program.

Credit Reporting

This card reports to all three credit bureaus, it reports itself as a secured card.

Adding Funds

It’s not possible to add funds to this credit card to increase the credit limit.


We haven’t heard of any card holders that were upgraded from this card to an unsecured card.


First Premier (the bank that issues this card) will approve almost any applicant for this card. We haven’t heard of anybody being denied (including those with a bankruptcy on their credit report).

Final Verdict

There is absolutely nobody who should be applying for this card, there are so many better options out there. This is far and away the worst secured credit card currently on the market. If you’re considering applying for this card, stop and read our guide to the best secured credit cards.

Still want to apply? Please think again, this card is terrible. If you absolutely must use the link below.

Apply for the Centennial® Classic Credit Card

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