topic Re: LOL @ First Premier in Credit Cards

LOL @ First Premier

Anonymous — Tue, 19 Apr 2011 00:08:36 GMT

They sent me a pre-approval letter today. Starting credit limit of $700 with an annual fee of $175 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.

Re: LOL @ First Premier

william23 — Tue, 19 Apr 2011 00:11:57 GMT

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

Re: LOL @ First Premier

Anonymous — Tue, 19 Apr 2011 00:17:26 GMT

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

Re: LOL @ First Premier

Anonymous — Tue, 19 Apr 2011 00:31:43 GMT

@Anonymous wrote:
They sent me a pre-approval letter today. Starting credit limit of $700 with an annual fee of $175 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!

Re: LOL @ First Premier

DI — Tue, 19 Apr 2011 01:19:59 GMT

@Anonymous wrote:
They sent me a pre-approval letter today. Starting credit limit of $700 with an annual fee of $175 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.

Re: LOL @ First Premier

Anonymous — Tue, 19 Apr 2011 01:27:09 GMT

@Anonymous 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

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!!!

Re: LOL @ First Premier

Anonymous — Tue, 19 Apr 2011 02:03:34 GMT

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.

Re: LOL @ First Premier

Boonie — Tue, 19 Apr 2011 03:41:37 GMT

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.

Re: LOL @ First Premier

Coldness — Tue, 19 Apr 2011 05:48:10 GMT

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.

Re: LOL @ First Premier

JayRizzo — Tue, 19 Apr 2011 06:46:38 GMT

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.

Re: LOL @ First Premier

chasmith — Tue, 19 Apr 2011 10:35:41 GMT

I will also close just before the anniversary. FP are obnoxious but as others have said, may serve a purpose in initial stages of recovery. I have an 8K NFCU limit now, and hope my USAA secured will unsecure late this year.

Another new FP trick - when I went online to check balance to pay before the statement cuts, I got a popup saying that based on my record I could apply for a second card - no thanks FP!

Re: LOL @ First Premier

Anonymous — Tue, 19 Apr 2011 11:15:38 GMT

Coldness thats the one lol. At first i thought it was a birthday invitation. I didn't even see the interest rate. I was to busy laughing at the anual fee lol.

Re: LOL @ First Premier

Anonymous — Tue, 19 Apr 2011 12:15:59 GMT

@chasmith wrote:
I will also close just before the anniversary. FP are obnoxious but as others have said, may serve a purpose in initial stages of recovery. I have an 8K NFCU limit now, and hope my USAA secured will unsecure late this year.

Another new FP trick - when I went online to check balance to pay before the statement cuts, I got a popup saying that based on my record I could apply for a second card - no thanks FP!

With another $175 annual fee?

Re: LOL @ First Premier

vish1 — Tue, 19 Apr 2011 14:46:36 GMT

@Anonymous wrote:

@chasmith wrote:
I will also close just before the anniversary. FP are obnoxious but as others have said, may serve a purpose in initial stages of recovery. I have an 8K NFCU limit now, and hope my USAA secured will unsecure late this year.

Another new FP trick - when I went online to check balance to pay before the statement cuts, I got a popup saying that based on my record I could apply for a second card - no thanks FP!
With another $175 annual fee?

Offcourse

Actually they may be really nice and waive off 25% of the AF on new card for 1 year.

Re: LOL @ First Premier

Anonymous — Tue, 19 Apr 2011 16:37:10 GMT

Has anyone had any issues when trying to cancel the FP card? I called to close my account a couple of months ago and the CSR seemed stunned that I would have the audacity to do so. She gave me some shpiel about not knowing of any other product that could help someone in my situation like the FP card, and when I told her that I know had several cards with higher limits and lower rates, she became openly hostile and tried repeating the same story. I thought of asking for a supervisor to file a complaint, but instead decided to bait her for a few minutes before getting bored.

Contrast that with when I closed the First Savings CC a few weeks ago. After asking me why I wanted to cancel and then politely declining their offer of better terms, the CSR congratulated me for improving my credit and was completely understanding and cordial the entire time. It was a complete 180 in terms of customer experience.

Re: LOL @ First Premier

Anonymous — Tue, 19 Apr 2011 23:35:05 GMT

@Anonymous wrote:
Has anyone had any issues when trying to cancel the FP card? I called to close my account a couple of months ago and the CSR seemed stunned that I would have the audacity to do so. She gave me some shpiel about not knowing of any other product that could help someone in my situation like the FP card, and when I told her that I know had several cards with higher limits and lower rates, she became openly hostile and tried repeating the same story. I thought of asking for a supervisor to file a complaint, but instead decided to bait her for a few minutes before getting bored.

Contrast that with when I closed the First Savings CC a few weeks ago. After asking me why I wanted to cancel and then politely declining their offer of better terms, the CSR congratulated me for improving my credit and was completely understanding and cordial the entire time. It was a complete 180 in terms of customer experience.

Maybe FP is feeling stressed with all the negative publicity they have been getting and the fact that now there are much better alternatives to FP on the market.

Re: LOL @ First Premier

Anonymous — Tue, 26 Apr 2011 02:04:10 GMT

Background: I am currently using my Discover/Amex/Citi card for most everything.. FP card for both me and my girlfriend have been paid off now for 6+ months.

I called today to seriously close the account even know I have been saying wait till September over and over again in my head.. so the rep said she would credit the $7.00 monthly fee till September for both me and my girlfriend.. girlfriend was right there and handed her the phone so she could verify her account and get the same credit. I don't feel bad because I have paid this fee for 1 1/2 years + the AF of $48.00 = $174 X2 (girlfriend) grand total $348 not counting the CLI fee's and interest. Were still closing our account in September.. just nice of FP to pay for the last 5 months of credit reporting 0.00 as active before we close.