topic Re: First premier credit card in Rebuilding Your Credit

First premier credit card

Anonymous — Tue, 11 Sep 2018 13:28:28 GMT

I applied for the First Premier bank credit card and they're asking me to send a fax of my Driver's license and other information does this mean I'm going to get approved.

I'm trying to rebuild my credit and currently have no cards. I have a self lender that's reporting to the credit bureaus.

Current scores 531 Transunion 559 Equifax

Re: First premier credit card

Anonymous — Tue, 11 Sep 2018 13:32:59 GMT

Possibly but is your credit profile so bad that you have no other choice but predatory lenders? They're one of the payday loans of credit cards, have you looked into secured card options?

Re: First premier credit card

Anonymous — Tue, 11 Sep 2018 13:31:38 GMT

Unfortunately since I tried cap1 secured and Discover and got denied. I currently have self lender reporting to all three credit bureaus

Re: First premier credit card

Asilomar — Wed, 12 Sep 2018 03:21:01 GMT

Jay24, I can't comment on whether or not you'll be approved as I'm not familiar with First Premier's practices. Sorry.

But I have a few questions for you:

* Where did you get those credit scores?

* You have a self lender loan, how much did you borrow and what's the balance? How long has it been reporting to your credit?

* Do you have anything else besides the self lender positively reporting?

* Do you have a person who would add you as an 'authorized user' to one of their card(s)? Like a parent, grandparent, sibling... Someone with an impeccable payment history and either no balance or a very low balance (sub, say, 3%) on a card that's a good 5-10 years old?

Sometimes predatory lenders are all we have. Since that appears to be the case for you, just roll with it. You'll have to swallow the crappy fees they charge but you shouldn't have to do it for long. Obviously I don't know what's in your file but those scores tell me it's not rainbows and unicorns. Use the card, pay in full every month, try and get yourself added as an AU, then in 11 months time (depending on a host of other factors of course) you'll likely qualify for a much better card and you can close First Premier before they hit you with new annual fee.

Re: First premier credit card

Anonymous — Sun, 16 Sep 2018 16:50:45 GMT

Not sure if that’s a sign of approval or not but I’d highly advise you reconsider and app someplace else. I would go with OpenSky instead since Cap1 and Disc denied you. OpenSky won’t even do a HP and the AF is about $35 I believe. It doesn’t unsecure but it can get a positive revolving acct reporting. Like @oldman said, they are the payday loan company of credit cards. You will be hit with fees left and right.

Re: First premier credit card

Brian_Earl_Spilner — Sun, 16 Sep 2018 16:55:19 GMT

I remember having a First Premeir years and years ago. It was horrible. Which is why when I had to start rebuilding, I chose to pay cash for everything until I could get my chargeoffs under control enough to get approved by Cap1 and Discover. #NeverAgain #FirstPremeirIsTheDevil

Re: First premier credit card

MrDFinance — Sun, 16 Sep 2018 17:00:50 GMT

Please use this opportunity to just not get that card.... Try open sky or see if the self lender can help you a bit as it matures... First Premier and Credit One feed off people desperate to open lines of credit during rebuilding..... Don't be one of them....

Re: First premier credit card

sjt — Sun, 16 Sep 2018 17:04:35 GMT

Stay away from First Premier.

Look into State Department Federal Credit Union. They have a great secured Visa and they dont pull credit.

Re: First premier credit card

Brian_Earl_Spilner — Sun, 16 Sep 2018 17:13:57 GMT

@sjt wrote:
Stay away from First Premier.

Look into State Department Federal Credit Union. They have a great secured Visa and they dont pull credit.

Thought they were pulling credit now because they're required, to verify identity?

Re: First premier credit card

sjt — Sun, 16 Sep 2018 18:43:28 GMT

They pull credit when you open an account. I think its a SP.

Re: First premier credit card

Asilomar — Sun, 16 Sep 2018 21:13:01 GMT

That’s super good advice about Open Sky and the State Department Federal credit union, but since it’s been a week I unfortunately don’t think the OP is coming back.

Re: First premier credit card

kiea — Mon, 17 Sep 2018 16:29:53 GMT

I have First Premier now I can honestly say I haven't had any issues regarding making my payments. With that being said they have a very long wait time on payments that are made with a checking account (I think it's 2 weeks) and you can't schedule payments because of that I always make my payments by debit card so it can post the next day. This can be a pain but it works for me.

As far as the request for your information and being approved. I received a pre-approval in the mail and when I applied I was instantly approved. I don't have an inquiry from them on my credit report so I think they just do a soft pull. I think it's pretty easy to get approved with them so I will say if they are asking for your information then more then likely you are approved. My scores were a little higher than yours when I got approved plus it was 2 months after my bankruptcy discharged.

Just be aware the interest rate is high, they charge you credit line increases (also you won't qualify unless your account is 13 months old), and there is a monthly/ annual fee. The card is okay for rebuilding for a few months as long as paying the fees don't bother you but it is not good for the long term. I plan on applying for Capital One in January to hopefully replace this account.

The Opensky card might be a better option. I have not looked into that company so I can't comment on that.

Re: First premier credit card

Anonymous — Fri, 21 Sep 2018 02:29:55 GMT

OP I would stay away unless you just have to have it.
My reasoning being is they treated me like a criminal, implying that my payments on my card were possibly fraudulent( paid with my own debit card) went on lunch on a Friday to get me some Sonic and figured I would use my CC... Swipe... Declined... Swiped again....Declined. Card had a $0 balance so I just used my debit card and gave them a ring. CSR told me what i mentioned up top and told me i had to send in information proving that this was indeed my account, sent print outs via fax..... not enough, Took off work early to go to the bank to get a printout from the bank with a stamp from the bank as asked.... Still not enough... Cancelled the card since I had Cap1 Sec ,Citi Sec, Merrick Bank Sec and Opensky Viss on the way, Some have had good luck, some have had issues such as myself YMMV. At least I Have 8mo of good reporting from them on my CR now.

Re: First premier credit card

Anonymous — Tue, 28 May 2019 23:24:15 GMT

Bumping this thread,

Does anyone know if they ever wave the yearly $78 fee or whatever it is?

Re: First premier credit card

Anonymous — Tue, 28 May 2019 23:25:16 GMT

I am really interested to know. I got a pre approved offer in the mail. It's for $700. I'm not sure it will be worth it, unless they wave the fee for the first year.

Re: First premier credit card

coreysw12 — Wed, 29 May 2019 03:13:15 GMT

When I was in the height of rebuilding (scores in the 500's) a few months ago, I kept getting First Premier offers in the mail and I was almost tempted to take it, even though I knew how awful they were.

Instead, though, I decided to just wait it out, fix the bad stuff on my report (ie, pay the remaining baddies I still owed on), and hold out for some better offers. It didn't take long before I had pre-approvals from Chase and CapitalOne (and both are banks that I had previous chargeoffs with), and I was so glad I avoided get a predatory credit card.

I'm glad I did. I managed to get my credit built back up without taking any junk credit card offers. Every card I've got is a good one that I plan to keep forever.

So my advice... wait it out. In the meantime, work on getting your scores up. The self-lender plus paying off any still-delinquent accounts (if any), plus hopefully some success writing Good Will letters, and you should be qualifying for some good credit cards in not too long.