topic Re: First Premier (Insert multiple explitives here) in Credit Cards

First Premier (Insert multiple explitives here)

Anonymous — Wed, 04 Jun 2008 17:38:22 GMT

(RANT)
I recently used two of my balance transfer checks from my new (REAL) credit card to pay the balances on my 2 rebuilder cards (Applied Bank, First Premier) down to 0.

Turns out FP accepted my check, then 4 days later decided to send it back. AND added a returned check fee of $25 which puts me over my limit with them. It wasn't returned due to insufficient funds or any problems from the account it came from, no, they just decided they didn't want to take it because it was quote "a 3rd party check"... They only accept checks that come directly from my checking account. WTF is this? How can a CC company give you "BALANCE TRANSFER CHECKS" that will get rejected by the CC that you use them with?

I was going to keep FP for at least a year, but no way now, I'm paying them off and closing that one out as soon as the payment goes through.
(/RANT)

Re: First Premier (Insert multiple explitives here)

unknown_entity — Wed, 04 Jun 2008 17:41:14 GMT

FP is freaky like that. I closed mine 2 months ago. They kept sending me offers for a "2nd" card but when I called for a CLI on the one I had they said no.....lol. They wanted to hook me up with a fresh basket of FEES!

Re: First Premier (Insert multiple explitives here)

Anonymous — Wed, 04 Jun 2008 17:41:42 GMT

good to know, I was just thinking about doing a BT on my FP cards

Re: First Premier (Insert multiple explitives here)

Anonymous — Wed, 04 Jun 2008 17:59:19 GMT

It is a valid negotiable instrument-

I would demand they waive the fees-

Is this in your account disclosure?

I would contact your "new" company and see if they can help-

ChuckG wrote:
(RANT)
I recently used two of my balance transfer checks from my new (REAL) credit card to pay the balances on my 2 rebuilder cards (Applied Bank, First Premier) down to 0.

Turns out FP accepted my check, then 4 days later decided to send it back. AND added a returned check fee of $25 which puts me over my limit with them. It wasn't returned due to insufficient funds or any problems from the account it came from, no, they just decided they didn't want to take it because it was quote "a 3rd party check"... They only accept checks that come directly from my checking account. WTF is this? How can a CC company give you "BALANCE TRANSFER CHECKS" that will get rejected by the CC that you use them with?

I was going to keep FP for at least a year, but no way now, I'm paying them off and closing that one out as soon as the payment goes through.
(/RANT)

Re: First Premier (Insert multiple explitives here)

Anonymous — Wed, 04 Jun 2008 18:10:57 GMT

Just checked the initial disclosure statement:

Payments must be made by check or other negotiable instrument in US Dollars payable to First PREMIER Bank to the address specified on your Statement. All checks or negotiable instruments must be drawn on a U.S. bank or at a U.S. branch of a foreign bank. Payment made through the mail in the form of cash or third-party checks may not be accepted.

The check came from my Credit Union Rewards Visa, and the check has my name and address in the upper left hand corner. I'm not sure how this could be considered a third party check.

Re: First Premier (Insert multiple explitives here)

Anonymous — Wed, 04 Jun 2008 18:57:54 GMT

The $25 fee put you over the limit? Sounds like you overdid it to begin with.

Re: First Premier (Insert multiple explitives here)

Anonymous — Wed, 04 Jun 2008 19:05:38 GMT

@Anonymous wrote:
The $25 fee put you over the limit? Sounds like you overdid it to begin with.

Thanks for that pearl of wisdom.

If you want to know how I got to be within $25 of my $250 limit, it's because before I realized that this was a card that would go no where, I talked to a customer service rep and told them that I already had cards with credit limits of $11k, and $4k and would like to know if I could get a decent credit limit on this card, and the monthly maintenance fees waived, otherwise I'd be closing it. The rep told me that they didn't see enough activity on my card, so for 3 months I'd charge ~220-240 to my FP card instead of one of my other cards and always pay the balance in full.

This month, instead of paying it in full with my checking account, I decided to do a balance transfer with a new card so that I could create some activity on that one right away.

Thanks for your amazing insight though.

Re: First Premier (Insert multiple explitives here)

Anonymous — Wed, 04 Jun 2008 19:10:42 GMT

Hey Chuck - don't get hooked by others perceived negativity.

I am glad you have other prime cards and can cancel them. It is obviously they are not consumer friendly. I agree with Timothy - call and have the fee removed. If the check appears as though it was written by you, this seems to be a blantant attempt for them to "extort" additional fees from consumers they hope don't understand or read T&Cs

@Anonymous wrote:

@Anonymous wrote:
The $25 fee put you over the limit? Sounds like you overdid it to begin with.

Thanks for that pearl of wisdom.

If you want to know how I got to be within $25 of my $250 limit, it's because before I realized that this was a card that would go no where, I talked to a customer service rep and told them that I already had cards with credit limits of $11k, and $4k and would like to know if I could get a decent credit limit on this card, and the monthly maintenance fees waived, otherwise I'd be closing it. The rep told me that they didn't see enough activity on my card, so for 3 months I'd charge ~220-240 to my FP card instead of one of my other cards and always pay the balance in full.

This month, instead of paying it in full with my checking account, I decided to do a balance transfer with a new card so that I could create some activity on that one right away.

Thanks for your amazing insight though.

Re: First Premier (Insert multiple explitives here)

Anonymous — Wed, 04 Jun 2008 19:14:39 GMT

Chill, buddy. No need to get pissed off over nothing. I misinterpreted and thought you did a BT onto this card to within $25 of the limit.

Thanks for your amazing attitude. You could calmly state your situation, without coming off as a...

Message Edited by thrasher865 on 06-04-2008 12:14 PM

Re: First Premier (Insert multiple explitives here)

Anonymous — Wed, 04 Jun 2008 19:17:13 GMT

That is NOT a 3rd party check-

They are trying to $crew you-

ChuckG wrote:
Just checked the initial disclosure statement:

Payments must be made by check or other negotiable instrument in US Dollars payable to First PREMIER Bank to the address specified on your Statement. All checks or negotiable instruments must be drawn on a U.S. bank or at a U.S. branch of a foreign bank. Payment made through the mail in the form of cash or third-party checks may not be accepted.

The check came from my Credit Union Rewards Visa, and the check has my name and address in the upper left hand corner. I'm not sure how this could be considered a third party check.

Re: First Premier (Insert multiple explitives here)

athensguy — Wed, 04 Jun 2008 19:45:24 GMT

I think this puts them in violation of the TILA Regulation Z 226.10, and could subject them to civil penalties from $100-$1000. I wonder if you could use that regulation to your advantage.

Re: First Premier (Insert multiple explitives here)

Anonymous — Wed, 04 Jun 2008 20:00:39 GMT

@Anonymous wrote:
Chill, buddy. No need to get pissed off over nothing. I misinterpreted and thought you did a BT onto this card to within $25 of the limit.
Thanks for your amazing attitude. You could calmly state your situation, without coming off as a...

Message Edited by thrasher865 on 06-04-2008 12:14 PM

Sorry for coming off as an a$$, but you can see how your post came off as preachy and not much help. Like many others here, the reason I'm here is because I was once terribly irresponsible with my finances. Now, having been on the road to greener pastures for some time, it's insulting when someone suggests otherwise and frankly, just not very helpful. I am usually a sarcastic person, but mostly I was just in a bad mood from my dealings with the First Premier CSR so that overflowed. Sorry about that.

Re: First Premier (Insert multiple explitives here)

Anonymous — Wed, 04 Jun 2008 20:05:57 GMT

Cool, I appreciate some civility and I'm sorry for posting without any helpful info. You have to understand that due to the economy and where I work, I don't have a lot going on right now So sometimes I wind up trolling forums out of boredom.

Re: First Premier (Insert multiple explitives here)

Anonymous — Wed, 04 Jun 2008 20:11:20 GMT

@erchambers wrote:
I think this puts them in violation of the TILA Regulation Z 226.10, and could subject them to civil penalties from $100-$1000. I wonder if you could use that regulation to your advantage.

§ 226.10 Prompt crediting of payments.

(a) General rule. A creditor shall credit a payment to the consumer's account as of the date of receipt, except when a delay in crediting does not result in a finance or other charge or except as provided in paragraph (b) of this section.
(b) Specific requirements for payments. If a creditor specifies, on or with the periodic statement, requirements for the consumer to follow in making payments, but accepts a payment that does not conform to the requirements, the creditor shall credit the payment within 5 days of receipt.
(c) Adjustment of account. If a creditor fails to credit a payment, as required by paragraphs (a) and (b) of this section, in time to avoid the imposition of finance or other charges, the creditor shall adjust the consumer's account so that the charges imposed are credited to the consumer's account during the next billing cycle.

[Codified to 12 C.F.R. § 226.10]

Hmm good idea, I think I will send them a strongly worded letter highlighting this code. Thanks for finding that!