First PRemier Denial? I have no credit can any one help

[Anonymous]

I got an internet denial letter! I thought everyone was approved? I dont have any credit and applied and thought this would be a good way to build credit. Can anyone help? this IS the letter I was given!

APPLICATION STATUS

Thank you for applying. Unfortunately, your application could not be approved with the initial terms. A new credit offer from First PREMIER® Bank along with a letter regarding our decision will be sent in 7 to 14 days.

[Anonymous]

That's not a total denial. You'll be offered a card with different terms...I'm assuming high APR or higher AF.

[wanttobeinthe700club]

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yes they will come back and offer you a higher APR like they did me i have 2 of there cards now. first premier(centennial gold) and now platinum. i have a 518 with EQ as of 5/26

first premier(centennial gold) $200 10/2008 waiting on increase
first premier platinum $300 5/2009

Message Edited by wanttobeinthe700club on 05-28-2009 10:51 PM

[Anonymous]

Why the higher APR? WHat is an APR? The fees are already high....did the second card come with the $300 limit?

[Anonymous]

First Premier is a subprime lender and will fee you out the @%#. Why not go for a secured card? Lots of places will pay you interested on the balance used to secured your card and some places even give rewards on secured cards.

[Anonymous]

I have the gold card from them and before you accept I would look to see if you can hook up with a local credit union.  I HATE having to pay First Premier's $7 montly fee plus an annual fee.  With the high startup costs I would just save your money and open a savings account with a local credit union with the intent of getting a secured credit card then ask them to convert it once you have at least the minimum amount they ask for.  Trust me.  I've had the card almost 2 years and have built myself back up with the card, yet wish I would've gone the secured route.  If you don't have the money to open it immediately just open the account and save the amount the credit union requires for opening a secured card.  I didn't have the money so I thought it was just easier to have FP bill it to my card, but you'll ending up paying the amount you would've saved anyway eventually.

Message Edited by NinComPoop on 05-29-2009 10:30 AM

[wanttobeinthe700club]

yeah i admit i was stupid about the whole secured card thing, but thinking hard about getting one through wells fargo for $300. and yeah the platinum came with a higher limit and i should findout soon if i got an increase on my gold card lol. someday i can get rid of these things, but until then i have to pay for my bad credit history

[wanttobeinthe700club]

ok had to put this on here. a week and a half ago I called into first premier and asked about applying for a CLI and they said no problem but if approved they charge $25. I figured that I had the card for 9 months and never been late on a payment and never maxed it out, I always payed more than the minimum and sometimes 2 payments a month. I got a letter today being denied for an increase. I  already have $200 limit on the card. lol. well when the year mark rolls around and I have nothing on the card im gonna ask again and if no answer then gonna give them a mouthful. can't wait to actually get a real credit card without all these fees. oh and not to mention I have another card with them for $300 which I have paid on time and the same as the card above. im waiting on my secured card through my bank, saving money for that. but then still I have to wait a year before its unsecured. well enough of me blabing lol.