I got a "pre-approval" notice in the mail for this card a few weeks ago. Just look at the fine print!
Available Credit and Cash Advance Limitations: The initial minimum credit limit will be at least $250.00 and the following fees will be billed to your first statement: Account Set-Up Fee of $29.00, the Program Fee of $95.00, the Annual Fee of $48.00, the Additional Card Fee of $20.00 per card (if applicable) and Monthly Servicing Fee of $7.00. These fees will reduce your available credit until they are paid. If you are assigned the minimum credit limit of $250.00 your initial available credit will be $71.00 ($51.00 if you select the additional card option).
I used to have First Premier and I realized that after all the fees they take out you don't have much left for yourself. Be leary of those credit cards that make you pay a fee as well in order to receive your card as well.