First Premier card

[Anonymous]

I am wondering if I should just cancel this card?  Limit is $275, fees are ridiculous.  I keep getting mail and email from them about a second premier card, yet I was denied for a CLI because I had an over the limit once in the year that I have had the car. 

When I called them and asked how they could approve me for a second card, but not an increase on my first they said it was to cover themselves because of my previous history.  So I said so you are trying to tell me that if I have one $600 limit card instead of two $300 limit cards that I am more of a liability when I have the same limit between the two and they said yes. 

I ranted about the fees and by offering me a second card at their same ridiculous rates, why would they want me to have one card with a $600 limit and only be able to charge me monthly/annual and every other fee on just one when they could give me two cards and collect double the fees from me??  What a scam.   I want to cancel, but I don't know if it will hurt me or not.  I just did some applications for store credit (3 cards) and was approved for 1.  My scores were mid 660.  Not sure what the inquiries and if I were to cancel First Premier what would happen.

Any advice is much appreciated.  Thanks.

[Anonymous]

Get rid of them if you have other positive accounts reporting a $275 limit will not affect your fico score that much. I just closed my card a few weeks ago an it felt so good. First Premier is a scam to get your money it's like the pray on people that don't no any better or people that have no credit or bad credit. The card will never grow with you they will only give you $100 CLI every year an they will charge you $25 for that. Do yourself a favor an close the card.

Message Edited by mjbfan79 on 03-20-2009 09:57 PM

[Anonymous]

Thanks for the advice.  I will call and cancel first thing tomorrow morning. 

BTW~I think it is shameful what they are doing.  When I was told I could not have a CLI because I had an over the limit fee (which ended up being removed) which put my account in bad standing for 2 days before I paid in full, I asked why then have they been sending me emails and letters in the mail for the last six weeks with an offer for a new card?  The first line is .... because of your excellent credit history.....  the guy said that comes from our marketing dept.  Nice excuse.

[Anonymous]

FP is the worst credit card ever.  They prey on folks who have bad credit, and bend them over by charging exorbitant fees. What they do is legal, but is it ethically and morally responsible? Everyone, this is a call to arms!  Get the word out to people and boycott FP.