topic Re: Any opinions on First Premier? in Credit Cards

Any opinions on First Premier?

let — Fri, 08 May 2009 14:39:52 GMT

I applied for this card, I'm trying to rebuild my credit, so I accepted the terms on this card , don't care much for it at all. This is one of those cards that you charge a pack of gum on once a month, ( $250.00 limit).

I was just wondering if anyone had dealt with them and if they are even worth keeping. TIA!

Re: Any opinions on First Premier?

xkaosx — Fri, 08 May 2009 14:44:50 GMT

Ive had it a couple months.

They make it as difficult as possible to make payments to them. Would be nice if you could pay by debit card or something.

Even when you do pay them on time with a check they put up to a 20 day hold on the funds available back to your account. If I were you I would just pay it down and pay the monthly $7 or w/e and just let it report for a year

Re: Any opinions on First Premier?

let — Fri, 08 May 2009 14:47:43 GMT

Thanks, that sounds like a good idea!

Re: Any opinions on First Premier?

Anonymous — Fri, 08 May 2009 16:26:46 GMT

@let wrote:
I applied for this card, I'm trying to rebuild my credit, so I accepted the terms on this card , don't care much for it at all. This is one of those cards that you charge a pack of gum on once a month, ( $250.00 limit).

I was just wondering if anyone had dealt with them and if they are even worth keeping. TIA!

Exactly....i pack of gum sounds real good. These cards can have some advantages for those who really need to build credit and really want a card and can't wait. But i would have went to a CU and set something up before i would ever deal with these bottom feeders. They are worse then loansharks.But in any case....since you have it now, just put a tank of gas or charge gum & PIF every month.You'll be fine.....

Re: Any opinions on First Premier?

let — Fri, 08 May 2009 17:35:12 GMT

I am really having buyer's remorse. that is going to the sock drawer.

Re: Any opinions on First Premier?

Anonymous — Fri, 08 May 2009 18:10:53 GMT

get rid of that darn card asap!! the fees are hell!!

Re: Any opinions on First Premier?

Anonymous — Fri, 08 May 2009 20:17:00 GMT

Never had too much use for a card with a $250 CL that charges fees before you get card. Brother was approved and when he got card only had $67 AC on it. Wow!! Try Cap 1

Re: Any opinions on First Premier?

Anonymous — Fri, 08 May 2009 20:34:26 GMT

I've had their card for approx 1 yr 8 mos and look forward to getting rid of the card. I wish I was into this forum when I applied then and would've just went the secured card route with a credit union. Theres no reason to put up with all those monthly fees, processing fees annual fees. Just not worth it. Save your money and you could go secured and not have to worry about it.

Re: Any opinions on First Premier?

Anonymous — Fri, 08 May 2009 21:06:41 GMT

@Anonymous wrote:
I've had their card for approx 1 yr 8 mos and look forward to getting rid of the card. I wish I was into this forum when I applied then and would've just went the secured card route with a credit union. Theres no reason to put up with all those monthly fees, processing fees annual fees. Just not worth it. Save your money and you could go secured and not have to worry about it.

WELL SAID

Re: Any opinions on First Premier?

enerey — Sat, 09 May 2009 00:04:17 GMT

If you have not charged anything yet they will let you cancel without charging any fees. Don't throw away money on this card it is not worth it, get a secured card instead.

Re: Any opinions on First Premier?

Anonymous — Sat, 09 May 2009 00:19:56 GMT

let -

I would recommend opening a savings account with a credit union. Put $500 to $1000 in or build up to that.

Then take out a secured loan (use savings as collateral) for the $500 or $1000. When they give you the loan check, deposit it back into savings so that you have a savings balance DOUBLE now, which will most likely earn as much interest in savings as you will pay on the loan.

1. Deposit savings.

2. Secured loan against savings.

3. Put loan proceeds back into savings, doubling your savings balance

4. Have loan "auto draft" payments from savings

5. Let savings earn enough interest to cover all or most of the loan interest

6. Pay the loan off at 12 months.

7. Speak to the CU about a credit card at 6 months into the loan.

8. If they will only give you a "secured" card, use the loan money to secure the card.

9. You now have a secured loan and secured card, giving you 2 credit entries and positive TL's.