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Signature Mastercard

Premier America Credit Union

NationalFixed rateCredit score 620–719Credit score 720+
Issuer site ↗
Purchase APR
11.99–24.99%
Annual fee
None
0% intro
None
0% transfer
None
Foreign fee
None
Grace period
30 days

Contract X-Ray — what's buried in the fine print

3 red flags · 5 filed docs

Detected in the CFPB-filed cardholder agreements from Premier America Credit Union. Verbatim quotes below — CardSleuth flags the language; this isn't legal advice.

Forced arbitration

You give up your right to sue in court — disputes are pushed into private arbitration.

Show the exact wording ↓
“…at the election of either You or the Credit Union, be resolved to, refusing any request for credit or an advance on Your Account. You will, in any by binding arbitration administered by the American Arbitration Association ("AAA") case, remain liable to pay any unpaid balances according to the terms of in accordance w…”
Agreement and Disclosure 3.21.23 ↗
“…te, shall, at the election of either You or the Credit Union, be resolved case, remain liable to pay any unpaid balances according to the terms of by binding arbitration administered by the American Arbitration Association ("AAA") Your Account. in accordance with its applicable rules and procedures for consumer disput…”
FR079602934_Agreement and Disclosure-Final ↗
“…at the election of either to, refusing any request for credit or an advance on Your Account. You will, in any You or the Credit Union, be resolved by binding arbitration administered by the case, remain liable to pay any unpaid balances according to the terms of American Arbitration Association ("AAA") in accordance w…”
FR079602934_Agreement and Disclosure ↗
Class-action waiver

You can't band together with other cardholders in a class action.

Show the exact wording ↓
“…m necessary, make inquiries pertaining to Your employment, credit standing and financial responsibility in accordance with applicable ARBITRATION AND WAIVER OF CLASS ACTION laws and regulations. You further agree that We may give information about the status This provision does not apply to covered-loans extended…”
Agreement and Disclosure 3.21.23 ↗
“…ated after the Effective Date (defined below) option and without further notice to any other party, terminate Your Account or of this Arbitration and Waiver of Class Action provision ("Arbitration Agreement"), refuse any right with respect to Your Account, which may include, but is not limited even if the Claims a…”
FR079602934_Agreement and Disclosure-Final ↗
“…ning to Your employment, credit standing and financial responsibility in accordance with applicable laws and regulations. You further ARBITRATION AND WAIVER OF CLASS ACTION agree that We may give information about the status and payment history of This provision does not apply to covered-loans extended to covered…”
FR079602934_Agreement and Disclosure ↗
Penalty APR

Slip up and your rate can jump to a much higher penalty APR.

Show the exact wording ↓
“…ary with the market based on the Prime Rate. (continued) Premier Line of Credit: _______% This APR will vary with the market based on the Prime Rate. Penalty APR and When For Overdraft Line of Credit and Premier Line of Credit: ________% it Applies This APR may be applied if: 1) You make a late payment. 2) You…”
Agreement and Disclosure 3.21.23 ↗
“…s APR will vary with the market based on the Prime Rate. Premier Line of Credit: _______% This APR will vary with the market based on the Prime Rate. Penalty APR and When For Overdraft Line of Credit and Premier Line of Credit: ________% it Applies This APR may be applied if: 1) You make a late payment. 2) You…”
FR079602934_Agreement and Disclosure-Final ↗
Arbitration opt-out

The contract lets you reject arbitration (usually within a short deadline) and keep your right to sue.

Show the exact wording ↓
“…emed to have consented to the resolution of Your Claims through binding exchange rate between the transaction currency and the billing currency (U.S. arbitration. In the event You opt-out, it shall not affect other terms and conditions of dollars) will be: (a) a rate selected by Mastercard, as is applicable, from the Your Account Agree…”
Agreement and Disclosure 3.21.23 ↗
“…unpaid will be subject to a returned check fee. 60 day period, You will be deemed to have consented to the resolution of Your Claims through binding arbitration. In the event You opt-out, it shall not affect other FOREIGN TRANSACTIONS terms and conditions of Your Account Agreement. For transactions initiated in foreign countries and f…”
FR079602934_Agreement and Disclosure-Final ↗
“…emed to have consented to the resolution of Your Claims through binding exchange rate between the transaction currency and the billing currency (U.S. arbitration. In the event You opt-out, it shall not affect other terms and conditions dollars) will be: (a) a rate selected by Mastercard, as is applicable, from the of Your Account Agree…”
FR079602934_Agreement and Disclosure ↗

Checked & clear: Jury-trial waiver · Deferred interest · Change-anytime clause

Purchase APR by credit tier

Median rate the issuer reported for each tier

No score
—
≤619
24.99%
620–719
15.99%
720+
11.99%
Lowest offered11.99%
Median13.99%
Highest offered24.99%

Cash advance APR

No score
—
≤619
24.99%
620–719
13.99%
720+
11.99%
Lowest offered11.99%
Median—
Highest offered24.99%

Every fee on this card

Annual feeNone
Balance transfer feeNone
Cash advance fee3% (min $3)
Foreign transaction feeNone
Purchase transaction feeNone
Late feeNone
Over-limit feeNone
Minimum finance chargeNone
Balance computationPrevious balance

Rewards, benefits and features

Rewards

None reported

Services
  • Automobile rental insurance
  • Other
Features
  • Contactless Payments
  • Chip card
  • Fee-free foreign transactions
  • Mobile wallet provisioning (for example, Apple Pay)

Who can get this card

AvailabilityNational
Membership requirementsYes
RequirementOther. Please Describe:
Phone818-772-4000
Balance transfer

This card does not offer a balance transfer rate.

Cost to carry a balance
Interest for a year at 13.99%$419.70
Annual / periodic fees$0
Total yearly cost$419.70

Simple interest on a constant balance — a plain-language upper bound rather than an amortisation schedule. Paying in full each month within the 30-day grace period avoids the interest entirely.

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