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Regular Contributor
Posts: 109
Registered: ‎06-13-2007
0

First Premier card

So, I received the card in the mail yesterday, and I am thinking I don't want it.  It is my first attempt at establishing credit in my own name (I am an AU on several of my husband's cards), but the fees are unbelievable.  I don't mind that the credit limit is extremely low - but I just opened both checking and savings with B of A yesterday (in addition to the checking and savings accounts I have at another bank), so I might try for their credit card (99/500) instead.  Please chime in on this.  Thanks.
Frequent Contributor
Posts: 489
Registered: ‎05-23-2007
0

Re: First Premier card

First Premier isnt bad for a starter card. However if you can get the BoA 99/500 office then do it. That will convert to a unsecured card in as little as 9 months if you keep your payments up.
Valued Contributor
Posts: 1,065
Registered: ‎04-26-2007
0

Re: First Premier card

Yes I agree 100%.   You have to apply for one of their regular unsecured cards first, it's not offered in a normal conventional way, you have to be invited for it.   I would reccomend the Visa Platninum Plus one, that is one of their sub-prime unsecured cards.
 
Now even if you don't get the $99/$500 card I would look at getting a secured card with them.   It has only a $29 annual fee and that's it.    The amount of money you are going to fork out to First Premier in fees,you  would be better off in the long run with, money wise, with secured card.
Regular Contributor
Posts: 109
Registered: ‎06-13-2007
0

Re: First Premier card

Thanks - one follow-up question:  If I cut up the card and return it to First Premier without signing or using it, will the account be deleted from my credit file (it is already on there!)?
Valued Contributor
Posts: 1,065
Registered: ‎04-26-2007
0

Re: First Premier card

I would think you would have to call them and close it out.    What does your agreement contract say about cancellation.
Frequent Contributor
Posts: 489
Registered: ‎05-23-2007
0

Re: First Premier card

The TL will not show up until you activate the card.
Contributor
Posts: 75
Registered: ‎05-31-2007
0

Re: First Premier card

If you have other options, cancel the card.  They charge you a fee for everything.  Even to pay online. And there is a monthly $6 participation fee.  I never use the card and just keep it open since I have had it for many yeasrs.  If I had it to do over again I would never get that card.
Regular Contributor
Posts: 109
Registered: ‎06-13-2007
0

Re: First Premier card

It says to cut it up and return it to them. 
Regular Contributor
Posts: 109
Registered: ‎06-13-2007
0

Re: First Premier card

That's exactly what I decided.  I think it would be preferable to ask to become a joint user on hubby's credit cards that now show me as an AU.  And I'll try the B of A thing, as well.  He has two B of A cards that I am an AU on, as well.  That might help.
Valued Contributor
Posts: 1,065
Registered: ‎04-26-2007
0

Re: First Premier card

Then that is what I would do.   Like I said before in the long run you would be better off with a secured card than a First Premier,  way too many fees.
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