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Established Contributor
shane82388
Posts: 979
Registered: ‎07-16-2010
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Re: First Premier.... HELP!!!!

yeah, while i sort of get where that sort of myth would come from, i dont see that being too legal really...even before the credit card reform stuff too. Its almost like a form of discrimination...and we all know there would be a lot of whiners coming out of the woodwork with lawsuits etc if that were true they really wont accept someone who had a first premier card in their past.

 

but i could be wrong i guess...

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clocktick
Posts: 1,603
Registered: ‎12-07-2008
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Re: First Premier.... HELP!!!!

You wrote you received the card so I guess you applied and were approved.  It's up to you whether you close it, or keep it open, but it's probably already on your CRs.  Paying in full will avoid interest charges, however, all of those fees would be a deal-breaker for me!  Don't they charge to pay online or something?  Did you happen to read the terms before you applied?  FP is notorious for outrageous fees and super high APR% rates.  However, some people have dealt with them and it helped rebuild their credit.  There are definitely other cards out there though that you just may be approved for!

11/30/08 TU 648 EX 672 EQ 656 SEPT 2014 TU 787 EX 789 EQ ???
Amex BCP $24.1K/Clear $8.5- Sallie Mae $27.5 -Cap One QS $7.5 - Chase Freedom $7.5/United $5k/CSP $20k/Ink- Citi DP $9.5/Dividend $13k/HHHx2 $15k/16.4/Reserve $4.5k Best Buy $1940 HD $1701- Discover IT $15k - Elan $8k GEMB Lowes $20k - Macy's $2k - Kohl's $800




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Wolf3
Posts: 3,197
Registered: ‎01-24-2010
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Re: First Premier.... HELP!!!!


Sheridan wrote:
I already have a Capital One card and a HSBC card. I am happy with both of these cards and thought I would try to get a third card. My scores are not very good at all so that offer was a real eye opener for me. The papers say I can reject this offer but it doesn't say how to reject it. There's no phone number to call. I have no intention of accepting anything like this, ever. It seems like they are trying to set me up for failure with rebuilding my credit.

There is no point in getting a third card that is this bad.   Wait until you can get something better than what you have, not worse.

 

 

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Epic Contributor
haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
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Re: First Premier.... HELP!!!!


Wolf3 wrote:

Sheridan wrote:
I already have a Capital One card and a HSBC card. I am happy with both of these cards and thought I would try to get a third card. My scores are not very good at all so that offer was a real eye opener for me. The papers say I can reject this offer but it doesn't say how to reject it. There's no phone number to call. I have no intention of accepting anything like this, ever. It seems like they are trying to set me up for failure with rebuilding my credit.

There is no point in getting a third card that is this bad.   Wait until you can get something better than what you have, not worse.


+1

 

Stop apping. Two open CC's are all you need to build new, clean history. Keep using them and paying them off while addressing problems on your credit reports.

 

Further apping now will just ratchet up a lot of inqs that go nowhere, and maybe a garbage account. Wait until you're more attractive to lenders. You'll get much better deals. :smileywink:

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
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Sheridan
Posts: 22
Registered: ‎06-07-2011
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Re: First Premier.... HELP!!!!

Yeah, when I applied though it did not quote that high of an APR. I'm pretty sure it was 20 something percent. Otherwise I would have cancelled, turned off the computer, and left the house just for good measure! Lol. I was really hoping they wouldn't put anything on my reports until after I officially pay the upfront fees. So how would it report? I'm curious about that.
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haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
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Re: First Premier.... HELP!!!!


Sheridan wrote:
Yeah, when I applied though it did not quote that high of an APR. I'm pretty sure it was 20 something percent. Otherwise I would have cancelled, turned off the computer, and left the house just for good measure! Lol. I was really hoping they wouldn't put anything on my reports until after I officially pay the upfront fees. So how would it report? I'm curious about that.

Nope, once you applied and were approved, it's on your reports. You asked for credit, they extended it, so there you are.

 

That being said, some have been able to get them not to report if they refuse the account, although the inq will remain.

 

The Credit Card ACT originally had a provision that consumers could review the terms of an offer and reject it, and then it wouldn't report, but that one fell on the cutting room floor. :smileytongue:

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
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drkaje
Posts: 3,491
Registered: ‎07-25-2008
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Re: First Premier.... HELP!!!!

I would reject the card and dispute the tradeline away...... and make sure they don't try sneaking in one of those fees.


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clocktick
Posts: 1,603
Registered: ‎12-07-2008
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Re: First Premier.... HELP!!!!


drkaje wrote:

I would reject the card and dispute the tradeline away...... and make sure they don't try sneaking in one of those fees.



Dispute on what grounds?  OP applied, was approved and received the card.  Contacting FP directly would be the way to go but I don't know if they would do anything but cancel the card.

11/30/08 TU 648 EX 672 EQ 656 SEPT 2014 TU 787 EX 789 EQ ???
Amex BCP $24.1K/Clear $8.5- Sallie Mae $27.5 -Cap One QS $7.5 - Chase Freedom $7.5/United $5k/CSP $20k/Ink- Citi DP $9.5/Dividend $13k/HHHx2 $15k/16.4/Reserve $4.5k Best Buy $1940 HD $1701- Discover IT $15k - Elan $8k GEMB Lowes $20k - Macy's $2k - Kohl's $800




Starting Score: 648
Current Score: 736
Goal Score: 765


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Senior Contributor
drkaje
Posts: 3,491
Registered: ‎07-25-2008
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Re: First Premier.... HELP!!!!


clocktick wrote:

drkaje wrote:

I would reject the card and dispute the tradeline away...... and make sure they don't try sneaking in one of those fees.



Dispute on what grounds?  OP applied, was approved and received the card.  Contacting FP directly would be the way to go but I don't know if they would do anything but cancel the card.


"Not my account" if OP rejects the offer. It shouldn't be on the report.

 

FP is known to be one of the predatory CC companies. It is what it is and there's a market for their service. That being said, someone who already has 2 active tradelines can probably get by without the fees and patiently repair their credit.

 

I believe a lot of us get caught up in the instant gratification of being approved, seeing a "baddie" fall off, or positive score change and we forget that real change takes time. In a lot of cases it was instant gratification and seeking approval that led to needing repair in the first place. :smileyhappy:

 

Credit repair is an odd, frustrating journey. Lacking control over how people see us (credit-wise) and judge our mistakes can be be a strange, humbling experience. In everyday life we can usually just apologize and move on. No one likes begging for electronic forgiveness, LOL!


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Senior Contributor
Booner72
Posts: 3,889
Registered: ‎05-24-2011
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Re: First Premier.... HELP!!!!


Sheridan wrote:

I received a First Premier card in the mail the other day and today I finally sat down and looked at the terms. Here it goes: 49.9% APR!!! $75 annual fee the first year then $45 after. Then, no monthly servicing fee the first year, $6.50/mo after. They want me to pay the $75 up front and will have $300 limit ($225 available). I would be okay with this card, but APR is a deal breaker. Has anyone been able to negotiate with First Premier about lowering the APR?


I've had FP since 2007 and they refuse to give me a CLI or reduce APR or stop annual and monthly fees.  If you PIF each month you shouldn't pay any interest at all.  I hate this company so much.  I am working with my CU to get a real Visa Card w/ no crazy fees.  Even if they only give me a 200 dollar CL it's worth getting rid of First Premier.  I have until the end of October and then I'm closing it regardless bc I don't want to pay the annual fee.

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

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