first premier, 36% apr!!

[Anonymous]

Hello everyone,

I went out and got my mail today and got my first ever "first premier" credit card app. I would NEVER sign up for their card (no need as I have great credit with 74,800 available on my cards and perfect history).

Anyway I decided to open it just to see what the offer said. It stated a minimum of $1000.00 credit line...not bad for some, but not for me.

Anyways I read on,

36% Apr (INSANE?)
$95. Processing fee (WHAT?)
$75. Annual fee (KILLING ME?)
$6.25/mo service fee after one year (I MUST BE DRUNK)

one would think anything over 30% Apr would be considered predatory lending and should be addressed. Especially with all the fees.

[Anonymous]

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@Anonymous wrote:
Hello everyone,

I went out and got my mail today and got my first ever "first premier" credit card app. I would NEVER sign up for their card (no need as I have great credit with 74,800 available on my cards and perfect history).

Anyway I decided to open it just to see what the offer said. It stated a minimum of $1000.00 credit line...not bad for some, but not for me.

Anyways I read on,

36% Apr (INSANE?)
$95. Processing fee (WHAT?)
$75. Annual fee (KILLING ME?)
$6.25/mo service fee after one year (I MUST BE DRUNK)

one would think anything over 30% Apr would be considered predatory lending and should be addressed. Especially with all the fees.

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Toss in fireplace.

Profit.

[gdale6]

36% is one of the lower APRs. I used to have one at 59.9% and I have seen some as high as 79.9%, they can charge what they want since they are in SD. No usury laws limiting such charges.

[Anonymous]

Hey now that's reason to celebrate! lots of confetti and stuff. Now that you have that prepaid postage envelop you know what you have to do.

[Anonymous]

That's insane. I understand CC company's are out to make profit (even though they pay me to use them....got to love sign-up bonuses) but that's just robbery.

[Skye12329]

Have you apped yet? It's a great offer! With an AF the rewards must be great right?

[Anonymous]

LOL I got the same letter , but $175 first year AF then $59 after that. Then there's $14.99 monthly servicing fee waived the first year. So on second year you pay $59 plus $174 servicing fees. 

Reaaly loving loving my Chase Fredom card! 

[Anonymous]

I got the exact same offer in my mailbox today from FP!!!  Makes great kindling!

[SecretAzure]

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@Anonymous wrote:

I got the exact same offer in my mailbox today from FP!!!  Makes great kindling!

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I think they know well enough not to send me one of these. I'll buy some elephant turd off the internet, cut off the prepaid postage, stick it on the box with the turd in it and send it right back.

14% and under....OR ELSE!!

[Anonymous]

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@SecretAzure wrote:

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@Anonymous wrote:

I got the exact same offer in my mailbox today from FP!!!  Makes great kindling!

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I think they know well enough not to send me one of these. I'll buy some elephant turd off the internet, cut off the prepaid postage, stick it on the box with the turd in it and send it right back.

14% and under....OR ELSE!!

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I stuff weekly ads in the envelopes and send back now.