cancel
Showing results for 
Search instead for 
Did you mean: 

First Premier- You Can Keep Your Card

tag
meka1984
Regular Contributor

First Premier- You Can Keep Your Card

Today DH received a preapproved offer from First Premier for a $700.00 CC.

 

This card has an annual fee of $175, of course that was in the fine print. I could not believe my eyes. I am an advocate of rebuilding credit; however, FP is a monster for preying on people.

 

I have been an FP customer and I understand they many help some but they are out of control.

 

Message 1 of 19
18 REPLIES 18
sandsanta
Contributor

Re: First Premier- You Can Keep Your Card

That pales in comparison to 77% APR.  You could get better rates on loans from Uncle Tony.


Message 2 of 19
LS2982
Mega Contributor

Re: First Premier- You Can Keep Your Card


@sandsanta wrote:

That pales in comparison to 77% APR.  You could get better rates on loans from Uncle Tony.



Wow......

 

Insane. That's a definite PIF card. No excuses.




EQ FICO 548 3/3/16
Message 3 of 19
drkaje
Senior Contributor

Re: First Premier- You Can Keep Your Card

Did it have any perks?

 

$175 seems pretty crazy, unless you're talking about Amex.


Starting Score: 675
Current Score: EX 753 FICO, EQ 737FICO, TU 738
Goal Score: 776 FICO


Take the FICO Fitness Challenge
Message 4 of 19
meka1984
Regular Contributor

Re: First Premier- You Can Keep Your Card

No perks at all.

Message 5 of 19
mAndrew1980
Established Contributor

Re: First Premier- You Can Keep Your Card

I received this same pre approval about a month ago. Shredded it. I don't care how desperate I am, I'll never take FP. Talk about predatory lending....

Transunion: 713 FICO (5/13/2014) MyFico
Experian: 789 FICO (4/10/12) Lender Pull
Equifax: 695 FICO (1/10/14) MyFico

My cards: Chase United Mileage Plus 7000CL (3/12), CITI Simplicity 1800CL (9/12), Cap1 Platinum 1000CL (2/10), Cap1 Cash back 1500CL (11/11), Apple Barclay's 2500CL (11/11), Discover IT 6000CL (5/13)

My Primary Financial Goal is to put down my utl%.



Message 6 of 19
MrShush
Valued Contributor

Re: First Premier- You Can Keep Your Card

You could look at the $175 fee as $14.58 per month as good history reporting Smiley Tongue
Message 7 of 19
dalebb
Valued Contributor

Re: First Premier- You Can Keep Your Card

no way,,, cheaper cards to get history going

Message 8 of 19
meka1984
Regular Contributor

Re: First Premier- You Can Keep Your Card

He doesn't need it. He has a Cash Rewards Visa through NFCU and 2 Cap One cards.

 

I just can't see wasting $15 per month, especially when he has history.

Message 9 of 19
dalebb
Valued Contributor

Re: First Premier- You Can Keep Your Card

amen to that

 

Message 10 of 19
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.