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Contributor
ricefed
Posts: 116
Registered: ‎02-17-2011
0

LOL @ First Premier

They sent me a pre-approval letter today. Starting credit limit of $700 with an annual fee of $175 :smileysurprised: Sorry But i think i will just stick with my NFCU Cash rewards card with a 3k limit. I've been watering it daily so i'll just watch it grow. $175 annual fee that is just rediculous.

NFCU cash rewards 10,000 -Chase Sapphire Preferred 6,900-Chase Slate 6,000- Amazon 10,000 - Walmart 10,000- lowes 12,000 - Kay jewelers 7,500 - Amex Zync NPSL - CarCare One 500
Regular Contributor
william23
Posts: 115
Registered: ‎10-09-2010
0

Re: LOL @ First Premier

I hate first premier ! When I close mine it will go in the blender hoo rah!

Member
Lightn
Posts: 42
Registered: ‎04-16-2011
0

Re: LOL @ First Premier

First Premier got me where I am today, but sadly I will be closing my FP account later this year.. I just can't pay the AF anymore when I have 3 new CC's with no AF and rewards. My girlfriend will also be closing her's later this year too, as she just got approved on a Cap 1 card :smileyvery-happy:

4/11 EX: 715 - 4/19 EQ: 684 - 4/11 TU: 724
Discover More ($5000), Costco TrueEarnings Amex ($1200)
Columbia Credit Union Platinum Preferred Visa ($1000)
Citi Dividend Platinum Select MasterCard ($500)
Senior Contributor
O6
Posts: 3,626
Registered: ‎10-13-2009
0

Re: LOL @ First Premier

 


ricefed wrote:

They sent me a pre-approval letter today. Starting credit limit of $700 with an annual fee of $175 :smileysurprised: Sorry But i think i will just stick with my NFCU Cash rewards card with a 3k limit. I've been watering it daily so i'll just watch it grow. $175 annual fee that is just rediculous.


 

$175?????????????

 

That's insane!

IAALBNYL
Super Contributor
DI
Posts: 5,767
Registered: ‎01-28-2008
0

Re: LOL @ First Premier

 


ricefed wrote:

They sent me a pre-approval letter today. Starting credit limit of $700 with an annual fee of $175 :smileysurprised: Sorry But i think i will just stick with my NFCU Cash rewards card with a 3k limit. I've been watering it daily so i'll just watch it grow. $175 annual fee that is just rediculous.


They should be ashame. How can anyone work for a company like that. 

 

Moderator Emeritus
tinuviel
Posts: 4,877
Registered: ‎11-02-2010
0

Re: LOL @ First Premier

 


Lightn wrote:

First Premier got me where I am today, but sadly I will be closing my FP account later this year.. I just can't pay the AF anymore when I have 3 new CC's with no AF and rewards. My girlfriend will also be closing her's later this year too, as she just got approved on a Cap 1 card :smileyvery-happy:


I just closed on FP account this month, and will be closing a second one in August. I think we should organize an online FP Cancellation Party! LOL!!! :smileyvery-happy:

 


Current Scores: EQ 775 (03/04/2014), EX 756 (03/01/2014), TU 760 (03/01/2014)
Ruby Spade Garden Club Member - Last App: 03/04/2013 - No apps until 2014
Cards: Cap1 Venture 6.4k, Cap1 Quicksilver MC 1.75k, BankAmericard 1-2-3 Visa Signature - UCF Alumni Association 5k, Discover 7k, Citi Diamond Preferred MC 10.35k, Wells Fargo Rewards Visa 7k, Chase Freedom 5k, Chase Ink 7.5k, Amex Green NPSL, Dillard's Amex 7.5k, JC Penney 7.5k, Kay Jeweler's 5.1k
Contributor
ricefed
Posts: 116
Registered: ‎02-17-2011
0

Re: LOL @ First Premier

I can't even believe it is legal for them to do that. I understand that  if you mess up your creit it should cost you some. $175 AF is just greed. 

NFCU cash rewards 10,000 -Chase Sapphire Preferred 6,900-Chase Slate 6,000- Amazon 10,000 - Walmart 10,000- lowes 12,000 - Kay jewelers 7,500 - Amex Zync NPSL - CarCare One 500
Frequent Contributor
Boonie
Posts: 268
Registered: ‎02-08-2010
0

Re: LOL @ First Premier

About a month ago I requested a CLI from FP and was denied due to prior late payments (almost 3  years ago)... so my limit is still $450.     I just applied for NFCU cash rewards and was approved for $10k.   Proof that FP is a truly a joke, but they did help me recover, but at a cost.

09/20/14 FICOs, EX 671, EQ 677, TU 701
Contributor
Coldness
Posts: 97
Registered: ‎12-30-2010
0

Re: LOL @ First Premier

Haha, I actually got the same offer a couple of weeks ago, I kept it because it was so off the wall... 

 

$700 limit, $175 annual fee, and.... 35.99% (!!!!) interest. I'm half tempted to mail them a photocopy of my terms for my 5k limit discover with 14.99% in the return envelope. The envelope had these colorful baloons on it and it said I was pre-approved for a REAL, GENUINE MASTERCARD@!, it looks like it's geared towards a 13 year old... seriously, this should be considered corporate robbery.

Established Contributor
JayRizzo
Posts: 583
Registered: ‎10-17-2010
0

Re: LOL @ First Premier

I can't remember where I read this, but we know since the CARD Act, they cannot charge an outrageous fee for a low-limit card but what I think they've been doing is hiking up the initial credit limit to $700, so their fee is still within a certain percentage but then out of left-field, they will reduce your credit line -- because they "can" at any time according to their Terms & Conditions.  Therefore, they just collected on you without breaking the rules -- just worked around it.

 

I'm not sure if it was this particular ccc in the article or news, but it sure sounds like it.

 

 


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