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Senior Contributor
Wolf3
Posts: 3,198
Registered: ‎01-24-2010

Re: First Premier Credit Card


Sparkz1920 wrote:

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.


Well maybe you did need it, 6 months of good history changes things.    And at that time, there were fewer options for people with bad credit.

 

Regular Contributor
EandK23
Posts: 178
Registered: ‎09-12-2012

Re: First Premier Credit Card

My FP served me well during my rebuilding years. Granted, the fees are astronomical but it helped to have the card when I needed it. Looking back I should have gotten a secured card. Hindsight is always 20/20.
Regular Contributor
princechristian
Posts: 203
Registered: ‎07-20-2012

Re: First Premier Credit Card

My Experience: Two cards with them, one 18mths, one 3 mths, All reflecting PAID every month always on all 3 bureaus, If they are your only option then I would get them, but you MUST use responsibly. High APRs are relevant to people who do not PIF. If you do not plan to PIF, then I would stay away from any CC secured or not.

Revolvers: FP Gold $300, FP Platinum $300, Applied Bank Business $500, Kay Jewelers $500, Fingerhut $400, Gettington $300

Installers: KHEAA student loan, Dealer Funding LLC auto loan x2, Crescent Bank auto loan, Acceptance Loan Co personal loan x2

Negatives: 1 collection - 2010 $307, Auto lates - 2 30 days, 60 day, 2009 / 3 30 days, 60 day, 2012

Established Contributor
cashnocredit
Posts: 959
Registered: ‎07-18-2009

Re: First Premier Credit Card

I almost got a FP card. The fees were just repellent and the CL was insufficient for any significant travel or car rental and that was the only reason I needed a CC. Went with WF secured instead. Glad I did.

I have reestablished credit over the last couple years
so my moniker is, well, rather out of date.

WM Discover $1800, WF Plat 12k, Chase Freedom Siggy15k, Amex Plat (60k H/B), Citi AA EWMC 25k
Senior Contributor
Wolf3
Posts: 3,198
Registered: ‎01-24-2010

Re: First Premier Credit Card

[ Edited ]

princechristian wrote:

My Experience: Two cards with them, one 18mths, one 3 mths, All reflecting PAID every month always on all 3 bureaus, If they are your only option then I would get them, but you MUST use responsibly. High APRs are relevant to people who do not PIF. If you do not plan to PIF, then I would stay away from any CC secured or not.


The Applied Bank Platinum Zero Secured Bank is perfect for people who do not PIF.   It is 0% interest, so you can carry a balance anytime you want.   This would be a good card for someone to put down a bigger deposit since you could charge some of it back and carry it at no cost.   

 

It does cost $10 a month in fees which is pretty high, but reasonable if you are in the very bad credit category, like most FP customers. 

 

 

 

The card was listed on this site as recommended for rebuilding.     But the Credit Card recomendation page seems to have vanished.    Anyone know why it is gone?

 

 

 

Valued Member
jrcred
Posts: 31
Registered: ‎06-14-2012

Re: First Premier Credit Card

I have this card.....all it's doing now is giving me a positive tradeline.  I haven't used it a lot, but when I have I pay in full every month.  I have a few more options now, so with the puny limit this thing has I don't even use it.  It served its purpose, I haven't paid a dime of interest on it....and I'll dump it right before the year mark so I don't have to pay the ridiculous annual fee.

 

I knew what it was when I got it, but I can't complain too much.  They extended me credit when nobody else would and started me on the rebuilding path.  

Valued Contributor
armbenderc
Posts: 1,339
Registered: ‎09-11-2012

Re: First Premier Credit Card

Closed the account with them not long ago. Zero balance and monthly fee of $8 plus $59 yearly fee. Have it since 2008 close.. they offer me $45 credit increase if I keep acct open. Lol.

Told them no and close it. I am very successful
with them and I now have prime card such as citi platinum and chase freedom, PayPal, and cap cash rewards.

I'm closing credit one next...
2013 Approvals: Discover IT - 3/1, Amex BCE - 3/4, CSP - 5/4, Barclay Ring - 6/12, BoA Privileges Cash - 6/27, Citi TY Preferred - 8/6, OCCU Duck - 11/4, USBank (Cash+) - 11/22, Wells Fargo - 12/21, Nordstrom - 12/29

12/19/2013, $100k+ Available Credit. Total Util: 0-1%
Valued Contributor
madmann26
Posts: 1,402
Registered: ‎08-30-2012

Re: First Premier Credit Card

Had I been more educated in the past, I would have passed on this and got a secured card.


Starting Score: EQ 511 TU 552 EX 545 8/29/2012
Current Score: TU 705|EQ 690|EXP 698 (FICO)
What's in my wallet? Cap1 PLAT AU $1.25k; Cap1 Cash AU $2k; NFCU Siggy $23k; $4k WalMart DC; CFNA Firestone $2.2k; Amazon $1.5k; NFCU Cash Rewards $22K; AMEX BCE $6k; NavCheck $15k; Lowe's $10k; Citi DP $6.3k; AMEX ED $8.5k
Goal Score: 700 across the board.
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Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011

Re: First Premier Credit Card

@madmann I surely would have passed up on them too if I knew better!



Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Valued Contributor
maiden_girl
Posts: 2,005
Registered: ‎12-29-2011

Re: First Premier Credit Card

OMG its so weird reading this thread because I used to GET pre approval letters from both FP bank and Credit One when I had my low limit Cap One $750 and Macys $100 cards years ago--when I was new to credit. They'd write stuff like "PRE APPROVED FOR 1,500 APPLY NOW!" with annual fees of $179. I was VERY tempted to get one of these cards even with the AF because I didn't have that line of credit I wanted or was expecting with my cards. So glad I didn't get one b/c I waited. I think these companies pray on the new to credit or rebuilding credit people b/c no other banks will give you a chance but THEY will...at $179 a year...smh

The truth is out there...
FICO scores: 724 (EQ) 709 (EX) 711 (TU) 4/14 | Goal score: 750+ (all 3)
Tradelines: Capital One (5.0k) | Discover IT (5.0k) | Walmart Discover (5.0k) | Chase Freedom NPSL (7.3k) | Citi Simplicity (9.3k)
--------------------------Gardening until my credit recovers...NO MORE INQUIRES TIL 2015

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