Is the First PREMIER® Bank Mastercard® Worth the $45 Annual Fee?

Credits and benefits

The First PREMIER® Bank Mastercard® does not lean on statement credits to justify its $45 fee, so the case for it rests on rewards, the welcome bonus, and any perks like transfer partners or travel protections. That makes the math simpler: the rewards have to clear the fee.

What you earn on spending

Credits are only half the story; the card also earns rewards every time you swipe. On $29,160 of annual spending, the First PREMIER® Bank Mastercard® earns about $0 a year at a flat 1 cent per point. The figure below is based on a typical household budget. See the full category breakdown in our First PREMIER® Bank Mastercard® review, or run your own numbers in the rewards calculator.

The break-even

Add it up. The First PREMIER® Bank Mastercard® costs $45 a year. It leans on rewards, and everyday rewards add about $0. Even together that is $45 short of the fee, so the perks have to carry the rest.

Frequently asked questions

Is the First PREMIER® Bank Mastercard® worth the annual fee?

Probably not for the rewards. Everyday earning (about $0 a year) still does not clear the $45 fee on this profile. The First PREMIER® Bank Mastercard® is only worth it if you place real value on its perks, like lounge access or elite status, beyond their cash equivalent, or if you spend well above average.

How do you offset the First PREMIER® Bank Mastercard® annual fee?

Through rewards and the welcome bonus. On a typical budget the card earns about $0 a year, so you need spending in its bonus categories to clear the fee.

Is there a no-annual-fee alternative to the First PREMIER® Bank Mastercard®?

Yes. If you cannot clear the $45 fee, a no-fee card keeps every dollar of rewards as profit. See our ranked no-fee picks to compare.

Bryce Casson, Founder of Cardocrat. About the author.