Welcome,
I too had a horrible credit profile due to an automobile accident and lost everything. I cound not get a credit card whether it was secured or not so I too went with the only company that would extend me any form of credit. I kept my balance low and paid on time. Then after getting a few store cards via the shopping cart trick my credit profile improved slowly. 14 months later I have a Discover Card, Chase Freedom and a Barclaycard with apple rewards. Although First Premier is one of the worst cards out there it's a start and in time with patience you too will graduate to the cards you want. Hand in there.
After about 6 months I was able to get a Victoria Secrets card, An Express store card and an Ann Taylor card as I shop with them maybe twice a year just to keep the cards from closing. Once your score goes up canceling your First Premier card will damage your score as it will reduce your available credit line.
I didn't either the first few times, however I kept trying every few months until they approved me. It s a slow process, but I bet within the next 8 months you will get approved. Have you thought about also getting a secured card? Open Sky from Capital Bank is a easy approval and their rate is about 17% a far cry from First Premier and they do not report as a secured card. I have one because Capital One would not approve me for even a secured card either.
Also try Credit One Bank. Their website allows you to see if youncheck and see if you pre-qualify without affecting your credit score.