I have a First Premier with a piddly 475 CL. I know it's a terrible card, but it's been a good card for me to establish some good history. I second a thousand times what everyone has said about paying in full if you do choose this sub prime card, otherwise the outrageous fees and interest will kill you.
Starting Scores July 2012: EQ FICO 645, TU FICO 636, EXP (CCT) 638
If FP is all you feel you can get, then so be it. After my divorce and BK filing, I got FP Gold and Platinum, along with Credit one. I was very resposible with them and they served their purpose well. Have to crawl before you can run.
I just have to friggin' laugh... I think FP has read our posts. Guess what showed up in my mailbox this morning...
$700 min, for the wonderful $175 initial, and $14 monthly....LOL!!!
SHREDDING TIME!!!
Next/only app to go is that damn HHonors....
....almost forgot... @36%
Honestly do not have any bad experiences with them. I dont like the fees they charge you upfront and i do not like the CLI fee they charge, but i got the card because that was the cost of me having limited history with credit and a few charge offs. I have better cards now. I plan on paying them and axing them this month. Im well off now
@LS2982 wrote:
In all honesty if you do PIF and use your bank account to pay on it there are no real fees out of the ordinary to deal with.
But most people that can only be approved for those type cards tend to not PIF and get those astronomical APR's applied to their balances.
Yup...I use my online bill pay to avoid the fees. When i got the card, i knew there were fees so i got on the ball and paid them so i could avoid late payment hsitory and the like. I knew i had to alot money to pay those by a certain date and wanted to make sure i could. At the end of the day, that is responsible credit building anyway.
@LS2982 wrote:
Anyone can be successful with FP, you just have to be smart with usage and payment.
This should be a test for anyone looking to rebuild, if you can be responsible with this card you can be responsible with prime cards.
Exactly! My mother thought it was absurd, the fees and stuff....Bur guess what, i jacked my credit up and i was looking for another chance. It has served its purpose. I have no ill will towards them at all because NOBODY would give me a card except them and a secured CITI...Then i got a CAP1 months later.
@Wolf3 wrote:
@Sparkz1920 wrote:
@LS2982 wrote:
Anyone can be successful with FP, you just have to be smart with usage and payment.
This should be a test for anyone looking to rebuild, if you can be responsible with this card you can be responsible with prime cards.Exactly! My mother thought it was absurd, the fees and stuff....Bur guess what, i jacked my credit up and i was looking for another chance. It has served its purpose. I have no ill will towards them at all because NOBODY would give me a card except them and a secured CITI...Then i got a CAP1 months later.
You probably would have done just as well if you only took the secured CITI and you would have avoided the fees.
FP is very expensive and IMO most could find less expensive alternates.
Took about 6 months after i got the FP to get the secured CITI...i tried for the BOA secured and the CAP1 secured and they denied me...and then i app'd for a CAP1 regular CC and they approved me about 1 month after. CAP1 is weird
Now i will say this, I should have cancelled the card long ago. I have had it for 3 years now with waived annual fees and a slight bump is CL but now it is time to say goodbye.