First Premier 2% Rewards

[CreditDrama85]

First Premier came out with a 2% rewards gold credit card. The APR is still high but for those who use it as a charge card and PIF maybe not such a bad deal. It doesnt appear to give the choice of actual cash back, it says you will receive a statement credit for 2% of the purchases charged. 

[Creditaddict]

Where did ou find this? I can't find any reward cards by first premier?

[Walt_K]

I can't get the app page with the detials to load, but I found this: http://www.creditcards.com/credit-cards/first-premier-bank-rewards-credit-card-222110147.php

[Walt_K]

Finally loaded:

2% Purchase Rewards: 2% of all purchases (less credits, returns and adjustments) made in each Billing Cycle will be credited back to your Credit Account. The Purchase Reward will be displayed as ‘PURCHASE REWARD – 2% CREDIT’ on your monthly Statement a purchase or purchases were posted.  Purchase Reward credits will be rounded up to the nearest one cent ($0.01). A purchase will not qualify for a Purchase Reward if the purchase is returned in the same Billing Cycle the purchase was made. If your Credit Account is in default as defined in your Credit Card Contract, the Purchase Reward benefit will be canceled, even in the event that the Credit Account is brought out of default. Cash Advances, casino gaming chips, wire transfers, off-track wagers, lottery tickets, bets or wagers over the Internet, interest/finance charges and all monthly or annual fees we bill to your Credit Account do not qualify for Purchase Rewards. We reserve the right to change, amend, cancel or temporarily suspend the program at any time. 

36% APR.  $120 AF.  $95 initial processing fee.  $300 CL.  Ouch.

ETA: I believe AF for first year is only $75.  Then it is $45 but with monthly charges that add up to $75, so that is where I got $120.

[Anonymous]

First Premier? You mean Last Trivial Bank?

[Anonymous]

I don't care if they offer 50% rewards. Come the New Year, once my FP card is a year old and before they offer me a paltry $100 CLI (which will cost me what, $25 to get?) and before they smack me with the extra fees after 13 months, I'm closing that card up. 

That card can help you get on your feet credit wise, but if you've done your homework after getting that card and qualify for better cards, there's no reason to hang on to this card - credit with them is simply too expensive.

Ditto for Applied Bank Credit Card - dump it.

[juggalo9er]

---

@Walt_K wrote:

Finally loaded:

2% Purchase Rewards: 2% of all purchases (less credits, returns and adjustments) made in each Billing Cycle will be credited back to your Credit Account. The Purchase Reward will be displayed as ‘PURCHASE REWARD – 2% CREDIT’ on your monthly Statement a purchase or purchases were posted.  Purchase Reward credits will be rounded up to the nearest one cent ($0.01). A purchase will not qualify for a Purchase Reward if the purchase is returned in the same Billing Cycle the purchase was made. If your Credit Account is in default as defined in your Credit Card Contract, the Purchase Reward benefit will be canceled, even in the event that the Credit Account is brought out of default. Cash Advances, casino gaming chips, wire transfers, off-track wagers, lottery tickets, bets or wagers over the Internet, interest/finance charges and all monthly or annual fees we bill to your Credit Account do not qualify for Purchase Rewards. We reserve the right to change, amend, cancel or temporarily suspend the program at any time. 

36% APR.  $120 AF.  $95 initial processing fee.  $300 CL.  Ouch.

ETA: I believe AF for first year is only $75.  Then it is $45 but with monthly charges that add up to $75, so that is where I got $120.

---

just to make up for the fees alone you would have to spend 20,500 using the 2% cash back just to break even ouch

[Creditaddict]

Why are you even waiting unusually confused??

[chwebb1]

---

@juggalo9er wrote:

---

@Walt_K wrote:

Finally loaded:

2% Purchase Rewards: 2% of all purchases (less credits, returns and adjustments) made in each Billing Cycle will be credited back to your Credit Account. The Purchase Reward will be displayed as ‘PURCHASE REWARD – 2% CREDIT’ on your monthly Statement a purchase or purchases were posted.  Purchase Reward credits will be rounded up to the nearest one cent ($0.01). A purchase will not qualify for a Purchase Reward if the purchase is returned in the same Billing Cycle the purchase was made. If your Credit Account is in default as defined in your Credit Card Contract, the Purchase Reward benefit will be canceled, even in the event that the Credit Account is brought out of default. Cash Advances, casino gaming chips, wire transfers, off-track wagers, lottery tickets, bets or wagers over the Internet, interest/finance charges and all monthly or annual fees we bill to your Credit Account do not qualify for Purchase Rewards. We reserve the right to change, amend, cancel or temporarily suspend the program at any time. 

36% APR.  $120 AF.  $95 initial processing fee.  $300 CL.  Ouch.

ETA: I believe AF for first year is only $75.  Then it is $45 but with monthly charges that add up to $75, so that is where I got $120.

---

just to make up for the fees alone you would have to spend 20,500 using the 2% cash back just to break even ouch

---

And I doubt you could easily do that with a $300 CL. And are they crazy? $95 processing fee, $120 AF, 36% APR, and a $300 CL? No thanks, I think I'll stick with my Amex and Citi cards as my daily spenders...

[enharu]

@chwebb, since you already have Amex and citi cards, first premier obviously isn't for you. Their products are mostly targeted towards extremely high risk customers, thus all the ridiculous fees they are charging. They kinda have to, simply because their customers have a high risk of default.

I personally think its pointless to have any first premier products. If one's credit is so bad to the extent he can't even get a secured card, he ought to just stick with cash / debit until the derogs fall off, rather than to pay all these ridiculously high fees.