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Senior Contributor
Booner72
Posts: 3,889
Registered: ‎05-24-2011
0

First Premier Bank

Hi CC folks - I'm so jealous of your great cards.  I'm in loser-ville w/ a 400CL FPB card I've had since 2007.  They charge 7.95 a month (In addition to the 49 a year) and they put the 7.95 on the day the statement cuts, so the only way to get a zero balance to report is to mail in a check in advance -- they won't take payment over the phone (11.95 to pay via the phone) or online (3.95 to sign up to pay online--one time fee).

 

So as you can see, I'm getting hosed.    I believe the interest is 29+%, in case you are wondering.

I am hoping to start the underwriting process next week and want to close it so it surely reports as zero balance.  I don't feel like I can trust them. 

 

What do you advise?  (BTW, as soon as this house business is over and I qualify for something else, FPB goes bye bye!)  Would also love recommendations on where I should apply for my next cc - scores are listed below.  Thanks!

STARTING: 11/24/10 EQ-584 EXP-648 TU04-595
CLOSED FIRST HOME 8/19/11 EQ-630 EXP-691 TU04-653
CURRENT: EQ-701 EXP-??? TU08-720
Super Contributor
DI
Posts: 5,767
Registered: ‎01-28-2008
0

Re: First Premier Bank


Booner72 wrote:

Hi CC folks - I'm so jealous of your great cards.  I'm in loser-ville w/ a 400CL FPB card I've had since 2007.  They charge 7.95 a month (In addition to the 49 a year) and they put the 7.95 on the day the statement cuts, so the only way to get a zero balance to report is to mail in a check in advance -- they won't take payment over the phone (11.95 to pay via the phone) or online (3.95 to sign up to pay online--one time fee).

 

So as you can see, I'm getting hosed.    I believe the interest is 29+%, in case you are wondering.

I am hoping to start the underwriting process next week and want to close it so it surely reports as zero balance.  I don't feel like I can trust them. 

 

What do you advise?  (BTW, as soon as this house business is over and I qualify for something else, FPB goes bye bye!)  Would also love recommendations on where I should apply for my next cc - scores are listed below.  Thanks!


Unbelievable!  All of those charges should be illegal. 

Senior Contributor
Booner72
Posts: 3,889
Registered: ‎05-24-2011
0

Re: First Premier Bank

I know, right?  And I only realized I was paying all of that in the past couple of months since I started my credit rebuild.  As soon as I got that sucker I maxed it out and it's sat that way for the past 4 years, paying 25 bucks a month.  OH, DUM GIRL.  DUM DUM DUM

STARTING: 11/24/10 EQ-584 EXP-648 TU04-595
CLOSED FIRST HOME 8/19/11 EQ-630 EXP-691 TU04-653
CURRENT: EQ-701 EXP-??? TU08-720
Moderator Emeritus
MarineVietVet
Posts: 14,084
Registered: ‎07-14-2009
0

Re: First Premier Bank


Booner72 wrote:

Hi CC folks - I'm so jealous of your great cards.  I'm in loser-ville w/ a 400CL FPB card I've had since 2007.  They charge 7.95 a month (In addition to the 49 a year) and they put the 7.95 on the day the statement cuts, so the only way to get a zero balance to report is to mail in a check in advance -- they won't take payment over the phone (11.95 to pay via the phone) or online (3.95 to sign up to pay online--one time fee).

 

So as you can see, I'm getting hosed.    I believe the interest is 29+%, in case you are wondering.

I am hoping to start the underwriting process next week and want to close it so it surely reports as zero balance.  I don't feel like I can trust them. 

 

What do you advise?  (BTW, as soon as this house business is over and I qualify for something else, FPB goes bye bye!)  Would also love recommendations on where I should apply for my next cc - scores are listed below.  Thanks!



According to Section 102 of the Credit Card Act 2009:

 

‘‘(l) LIMIT ON FEES RELATED TO METHOD OF PAYMENT.—With respect to a credit card account under an open end consumer credit plan, the creditor may not impose a separate fee to allow the obligor to repay an extension of credit or finance charge, whether such repayment is made by mail, electronic transfer, telephone authorization, or other means, unless such payment involves an expedited service by a service representative of the creditor.’’

 

So it looks like the $11.95 charge to pay over the phone and the one time $3.95 charge to pay online could be or should be illegal. Unless FP declares these methods to be "expedited services".

 

 

 

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".


 

 

 
Senior Contributor
Booner72
Posts: 3,889
Registered: ‎05-24-2011
0

Re: First Premier Bank

Oh I'm sure that they do.  They make a point, now that you mention it, of telling me if I mail in the payment I won't pay any of those fees.  And the "high balance" listed is 453 because of the month they charged the 49 bucks put me over.    Luckily it says "Paying as agreed."  The price of crappy credit can go on and on.

STARTING: 11/24/10 EQ-584 EXP-648 TU04-595
CLOSED FIRST HOME 8/19/11 EQ-630 EXP-691 TU04-653
CURRENT: EQ-701 EXP-??? TU08-720
Moderator Emeritus
MarineVietVet
Posts: 14,084
Registered: ‎07-14-2009
0

Re: First Premier Bank


Booner72 wrote:

Oh I'm sure that they do.  They make a point, now that you mention it, of telling me if I mail in the payment I won't pay any of those fees.  And the "high balance" listed is 453 because of the month they charged the 49 bucks put me over.    Luckily it says "Paying as agreed."  The price of crappy credit can go on and on.


I would ask them though why they seem to be violating the Credit Card Act by these charges. And I might consider a call to the BBB and perhaps my states' AG office if the answer from FP is not satisfactory.

 

 

 

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Senior Contributor
Booner72
Posts: 3,889
Registered: ‎05-24-2011
0

Re: First Premier Bank

I will glady raise holy hecc on these folks after my mortgage.  Right now, I'm desperate and need what I can get.  So keep the info coming so I know what to do.  I also see that 95 people have read this, that means 95 less people will get screwed.  :smileyhappy:

STARTING: 11/24/10 EQ-584 EXP-648 TU04-595
CLOSED FIRST HOME 8/19/11 EQ-630 EXP-691 TU04-653
CURRENT: EQ-701 EXP-??? TU08-720
Frequent Contributor
stanggt03
Posts: 437
Registered: ‎05-21-2011
0

Re: First Premier Bank

Interesting. Those were their old terms. It seems they didn't make any changes to your account after the new laws took effect. I would give them a call. I have FP I'm 2006-2008 and had the same stuff. Filed BK. Got FP again in January 2011. $750CL, 36%APR, $129AF(I think. Something like that anyway) No other fees.

Starting Score: 596 EQ 5-22-11 / 554 TU 5-23-11
Current Score: 615 EQ 08-15-11 / 631 TU 09-27-11
Goal Score: 700+


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Senior Contributor
Booner72
Posts: 3,889
Registered: ‎05-24-2011
0

Re: First Premier Bank

I just called.  They said they were in perfect compliance w/ the federal regulations.


BUT she said that I qualified for another card w/ them.  (WOW, My credit score is better already bc they never would give me CLI or another card before).

 

Guess what?  It's a 20.00 fee to add my husband as an Authorized User.  Then I would pay almost 15 a month in fees.  And the annual fee of 49 would double.

 

Suprising, isn't it?  Not.

STARTING: 11/24/10 EQ-584 EXP-648 TU04-595
CLOSED FIRST HOME 8/19/11 EQ-630 EXP-691 TU04-653
CURRENT: EQ-701 EXP-??? TU08-720
Frequent Contributor
FicoScore626
Posts: 253
Registered: ‎09-01-2009
0

Re: First Premier Bank

[ Edited ]

Booner72 wrote:

Hi CC folks - I'm so jealous of your great cards.  I'm in loser-ville w/ a 400CL FPB card I've had since 2007.  They charge 7.95 a month (In addition to the 49 a year) and they put the 7.95 on the day the statement cuts, so the only way to get a zero balance to report is to mail in a check in advance -- they won't take payment over the phone (11.95 to pay via the phone) or online (3.95 to sign up to pay online--one time fee).

 

So as you can see, I'm getting hosed.    I believe the interest is 29+%, in case you are wondering.

I am hoping to start the underwriting process next week and want to close it so it surely reports as zero balance.  I don't feel like I can trust them. 

 

What do you advise?  (BTW, as soon as this house business is over and I qualify for something else, FPB goes bye bye!)  Would also love recommendations on where I should apply for my next cc - scores are listed below.  Thanks!


Forget First Premier's crappy online payment feature. Not only do they charge $3.95 to sign up but it's also going to be an additional $7.95 everytime you make a payment through them. They actually charge you a fee to pay them.

 

If you have a bank account and use their bill paying feature, you can force payments to First Premier at no additional cost. I had a zero balance and wanted to close my account before getting hit with their annual fee, and wanted no nasty surprises so I submitted a payment of $16.00 and the account ended up getting closed with a credit balance of about -$8.00 after they took their $7.95 fee..


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