First Premiere Bank Pre Approval

celticslegends · ‎10-17-2014

I received a First Premiere bank pre approval letter in the mail today. Now that I have been responsible with my two CC's over the last year or so it seems I am turning a corner. I have been denied by Barclays and wanted them as a 3rd trade line, but still would like the 3rd trade line to compliment my Capital One quicksilver and my credit union rewards. I was recently denied by my credit union for a 2nd card with them. They would only give me the card if I had a valid reason. They told me to wait another 6-8 months before getting a card through them. The only negative thing I have on my report at this time is $70k worth of student loans which are in default, but I am rehabbing them and they will be fixed in about 6 months. Other than that, everything is great.

My scores are around 640 now, but still not good enough for the prime lenders. Should I take the First Premiere card and utilize that to build it up, or should I steer clear and wait things out for something better and use my cap 1 and credit union card. Maybe I should get a 2nd card with Cap 1?

Any advice would be appreciated.

JediNeo · ‎10-17-2014

Steer clear. It will only drop your AAoA. Garden, keep positive history and you'll get better offers.

coldnmn · ‎10-17-2014

NO! GARDEN! Follow your credit unions advice!

Discover IT $17k / US Bank Ace (VSig) $13.5K / US Bank Cash+ (VSig) $13.5k
Sam's Mastercard $15k / Walmart Mastercard $10k / Blispay $7.5k PayPal Ex MC $10.8k
CareCredit 5k / Husq $5k / Cap1 QS $4.5k / Barclay Ring $5.35k / Citi DC (WMC) $12k
Gardening Date 7/01/16 / MyFico 08: EQ 801 / TU 777 / EX 771 / 06/08/17

tcbofade · ‎10-17-2014

As Cold so wisely pointed out....NO! Listen to your credit union.

And First Premier isn't a card you want anyway. Wait for a decent card, don't grab junk just to have it.

04/01/24 Fico 8: EX 763, EQ 799, TU 783.
Fico 9: EX 756 03/13/24, EQ 790 02/04/24, TU No idea.

Zero percent financing is where the devil lives...

juggalo9er · ‎10-17-2014

@tcbofade wrote:
As Cold so wisely pointed out....NO! Listen to your credit union.

And First Premier isn't a card you want anyway. Wait for a decent card, don't grab junk just to have it.

+1 first premier is garbage steer clear and wait until scores improve

chrisw1968uk · ‎10-17-2014

First Premier is as popular as a fart in a spacesuit! - Its an absolute POS (and I dont mean point of sale lol) - you are on your rebuilding path and dont need these ****'s

Anonymous · ‎10-17-2014

PUT IT IN THE SHEDDER... First Premiere & Credit One are predatory banks that should be illegal! Garden.

celticslegends · ‎10-17-2014

Thanks everyone for your advice. I will just sit tight and do nothing for now. I'm heading downstairs to throw it in the trash in a few minutes.

Broke_Triathlete · ‎10-17-2014

Stay away from them as everyone else in this thread suggests. It will drop your AAoA (mentioned above) and you won't get anywhere with them. The fees and APR are stupid.

Personal:

Business:

celticslegends · ‎10-17-2014

@Broke_Triathlete wrote:
Stay away from them as everyone else in this thread suggests. It will drop your AAoA (mentioned above) and you won't get anywhere with them. The fees and APR are stupid.

Your handle name is funny. What is your 5k time? Kudos to you for going from 380 score to the 600's. Thanks for your advice.