topic Re: first premier in Rebuilding Your Credit

first premier

ihatemyscore — Sat, 23 Jun 2012 00:02:33 GMT

well..i recieved a credit card from first premier bank..

36.0% apr - ouch

processing fee - $55.00 (one time)

annual fee - ($75.00 for the first year, after that $45,00 anually.

Monthly servicing fee (0.00 for the first yr(INTRODUCTORY LOL) after that 75.00 annually.. (6.25 per month)

LOL Ouch.. well I should I open this line of credit and accept the card and cancel it after 1 yr before the other fees are due?

If I accept this I will have Orchard 300.. Cap One secured 200.. and them 300... I just came out of BK7.. After a year of perfect payments on all 3 cards will I qualify for better cards?

Re: first premier

doc101 — Sat, 23 Jun 2012 00:17:48 GMT

I had a card from FP and the interest rate was outrageous. I had the card a year and cancelled soon after. I also have cards with Orchard and Cap One and have strived to keep the balances low. If you are looking for another card, research your bank or credit union about info on a secured card. I'm thinking of getting another secured card thru my bank (wells fargo). Hope this was helpful, good luck

Re: first premier

ihatemyscore — Sat, 23 Jun 2012 00:39:28 GMT

Yeah im thinkin jus to keep this card for 1 year!

and keep it at 0 balance... after paying the fees.. then use my orchard bank one 5 to 10 bucks a month.. carry a dollar balance and just add like 50 to a 100 bucks a month on the capital one secured card.

Re: first premier

Anonymous — Sat, 23 Jun 2012 02:01:07 GMT

I wish I never dealt with them 5 years ago. 2 more years and I will never look back. They are bottom feeders.

Re: first premier

traveler2005 — Sat, 23 Jun 2012 02:34:13 GMT

To OP

Don't ever be late, and never let it go to collections or charge off. It will stay on your report for the full 7.5 years. They are relentless, and want to keep you at the bottom, so they can continue to feed off you $$$$$$$$$$. I have GW to the point of the threatening me with harassment if I contact them again. Best Wishes.

Re: first premier

AndySoCal — Sat, 23 Jun 2012 03:32:12 GMT

I would not accept it. I would in time add more money to the secured CAP 1 card.. The fees are not worth it.

Re: first premier

Ralph1611 — Sat, 23 Jun 2012 11:48:20 GMT

Do NOT. Do NOT accept this.

I signed up for a bunch of cards...Bad Cards..(Orchard, First Premier, Credit One...BAD IDEA I know.)

Because I didnt use the cards the accounts were closed, no problem. I didnt know the horrors of FP monthly fee after the first year. I didnt know they didnt let you stay at a zero balance. I didnt know Credit One charges you when you DONT use the card. I didnt have to pay the annual fee with Credit one and I got back the annual fee I paid to keep my FP at Zero and my proccesing fee back.

Ill stick with Orchard and see what happens with the Cap One acquisition. The reason I canceled them, was because I was approved for a Citi Diamond 3000 limit(pre selected)

Re: first premier

injustifiiable — Sat, 23 Jun 2012 14:55:37 GMT

@Anonymous wrote:
I wish I never dealt with them 5 years ago. 2 more years and I will never look back. They are bottom feeders.

+10000000, 6 years ago for me