Credit One vs First Premier

Difference in Fees and Rates

Credit One charges only an annual fee. It does not charge any application or monthly fees. The annual fee will range from $0 to $99. Base on card members reviews, many got annual fees of $0, $35 and $45. Many have gotten the following terms : $75 for the first year, $99 for the secondly year but paid over the year monthly.

First Premier's fees are based on what credit limit you are given. Here is how it works:

Initial Limit	One-time Fee	Annual Fee	Monthly Fee ($0 for 1st Year)	Initial Available Limit
$300	$95	Year1 = $75 After that = $45	$75 = $6.25/month	$225
$400	$95	Year1 = $100 After that = $45	$75 = $6.25/month	$300
$500	$95	Year1 = $125 After that = $49	$124.80 = $10.40/month	$375

From a fee perspective, Credit One comes out way ahead. Not only does First Premier charge an annual fee, you also have to pay a one time application fee and from the second year onwards, you also have to pay a monthly fee.

The APR for Credit One ranges from 19.49% to 25.49%. The APR for First Premier is 36%. Once again, from an interest rate perspective, Credit One Bank comes out ahead.
 

Reward Program

Credit One Bank comes with a cash back reward program. You may get either on of the following rewards:

• 1% cash back on gas, groceries, mobile phone service, internet service, and cable & satellite TV service, or
• 1.1% cash back on dining purchases and 1% on all other purchases, or
• 1% cash back on all purchases

First Premier does not have a reward program so from this aspect. Credit One comes out ahead.
 

Free Credit Score

Credit One is one of the few sub-prime cards that give card members access to a free credit score. According to card members who have verified with customer reps, it is a score from Experian (though there is no confirmation if it is a FICO or Vantage score).

In contrast, First Premier does not provide any free credit score for their card members.
 

Which Card is Better? Credit One or First Premier?

Credit One and First Premier share a couple common features. Firstly, they both have Chip enabled cards and they both have a record of giving credit line increases. However, that is where their similarities end. In terms of fees and rates, Credit One Bank is clearly better than First Premier. Their annual fee and APR is lower. Credit One also does not charge any one-time fee or monthly fees.

Credit One is also better is most other aspects of the card. It has a cash reward program and provides free credit score to card holders.

Between the two, I will pick Credit One over First Premier any day because of the differences in fees and rates. First Premier is simply too expensive as a card.