Posted by William Charles on November 8, 2014
Credit Cards

Published on November 8th, 2014 | by William Charles


The Worst Credit Card That Exists

Update: The Verve Credit Card is definitely a new contender for this title.

On this blog we try to find out what credit cards are actually worth applying for and what are all hype and no substance. I’ve been spending a lot of time looking through smaller card issuers portfolios recently to try and uncover hidden gems. Unfortunately I found a lot of card issuers that are taking advantage of customers that either aren’t checking the fees table or are ignorant of what those fees should realistically be.

Below I’ve listed what I believe is the worst credit card that is currently available.

  • First PREMIER Bank Credit Card. Honestly, it shocks me how bad this card actually is. We’re going to break it down so you can see why this card sucks, so so bad.
    • 36% APR
    • $95 processing fee
    • $75 annual fee first year, then $45 annual fee
    • Monthly servicing fee $6.25 which is waived the first year

That’s right, the first year you’re going to pay a total of $160, each year after that you’re going to be charged $120. If you make the mistake of carrying a balance? Bam! 36% APR, oh yeah the late payment fee is $35 as well. This card is specifically targeted at people with poor credit, but there are so many better options out there that don’t come with an annual fee or a processing fee or a monthly fee and also offer a rewards program. Looking at the fee table for this card make me feel physically sick.

If you know of anybody with this card or see somebody use one, please take a minute out of your day to explain why this is such a bad card and why there are so many better options out there. Do you know of a worst credit card? If so let me know in the comments.


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Gary Leff

The card is even worse than that!

It charges 25% of every credit line increase as a credit line increase fee. Seriously — a credit line increase fee.

And you have to pay off the card by the statement close date to avoid interest, no grace period.

Although the application processing fee, if you’re approved, becomes a security deposit. So at least there’s that.


there’s a whole industry out there that’s dedicated to these horrible credit cards that are marketed to the poor and unbanked/underbanked as an alternative to the even worse payday loans/check cashing places while you “get a chance to (re)build your credit” … obv the more savvy among these folks hopefully figure out the tons better, real alternatives as you point out.

I think PBS Frontline even did a cpl programs to uncover these bastards. first was in 2004 called: Secret History of the Credit Card… with a followup in 2009 after the market crash called: The Card Game


First Premier has a worst card than the one mentioned above. It is dubbed their Platinum

Here are the details..
Initial credit limit $700
Annual Fee $175 for the first year, $49 after that
Monthly servicing fee $174 billed at $14.50 per month
36% apr
2% cash back

Right off the bat your on the hook for $175. and after that your just going to pay $14.50 every month to FP. Why would anyone get this card.


comment of shame… i have this card.

back story: second card i opened maybe 10 yrs ago.. first one was capitol one card that went to collections when i was like 20 yrs old. still have this FPBCC and used it for gas when i dont have cash (though usually only once since it still has its original $250 credit limit as im trying to keep the utilization under 30%) and for nexflix.
i was a debt card/ cash person before i recently became obsessed with the points/churning game within the past 30days. this is the only card i had until i recently took a pre approved offer from Cap One again ( after being denied the Chase Freedom Card) my fico was 666 as of new years eve. from what ive researched, please correct me if i’m wrong, to build my fico i have to hold on to this card for a while since it’s my oldest and only, until about a week ago. have been paying it on time for the past 8 months but a second card (retail) went to collections, and was settled, about 18 months ago. all the research ive done lately to build credit and earn rewards i see that i probably made every poor decision possible except for bankruptcy…
i always thought i had no need for credit since i make a good wage at just breaking six figures a yr. now i have to wait probably three to four years before i can do anything. oh well, better late than never 🙂


[…] some of our most popular posts are reviews of terrible credit cards (like the Verve credit card or First Premier Bank Card). I like to think that the majority of views are people with bad credit searching for information […]


[…] The Worst Credit Card That Exists  –  Doctor of Credit    OMG. This card is major barf material. You should be charged with a felony if you apply for this card. Oh the horror…the horror! […]

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