First Premier - A first credit card

[TXPocohontas]

I have had my First Premier credit card for about 2 years now.  I have not had any bad experiences with them. I got the card initially to rebuild my credit score up after going thru a theft and identity theft back in 2015.  I went credit cardless from 2015 to 2019 while cleaning off things that were fraudulent. I only have a $300 limit but it is sufficient for the purpose.

I called First Premier with an account question and ended up having a great conversation with them.  Did you know the owner created the credit card just for people who were starting or rebuilding their credit? His whole goal was/is to help folks to on the right path of credit without making grave mistakes (getting over their heads) and that his card would lead customers to build their scores to get the other credit cards out there.  They consider themselves just a stepping stone.  That is why they offer a CLI for a fee.  They want to make sure that person really knows the responsibility that comes with it.  I have to say that I honestly appreciate their philosophy.  I have went on to get other cards at higher limits (and I am very responsible by paying off the balance each month before it is due).  I am keeping the card instead of closing the account but I am grateful they allowed me the starting credit card to move ahead.  They have done right by me.

Remember, this card is just a starting/restarting point so if you know of anyone who needs that first card, tell them about First Premier.   

Wishing ya'll the best.

[Anonymous]

An interesting view of a company that here is considered (quite correctly IMO) as  a fee harvester operation.

Some of the comments remind me of what cult leaders say!  

"That is why they offer a CLI for a fee. "

No, they charge a fee for  a CLI because they want the money.   They could instead do more checks to see if the person is "ready" if they were really altruistic.   Their fees are HORRIBLE, e.g. with a $500 CL a one time $95 fee + first year $125, reuducing to $49 but then adding $124.80 a year in monthly fees!

$500.00

$95.00 (one-time fee).

$125.00 first year. After that, $49.00 annually.

None for first year (introductory). After that, $124.80 annually ($10.40 per month)

This is not a "we are there to help you" value proposition.   You can get secured cards from major issuers, and even Credit One has started some more decent cards.

Remember, this card is just a starting/restarting point so if you know of anyone who needs that first card, tell them about First Premier.   

Only if there is no other choice (or you hate them!)

[Remedios]

Longer version, aka predatory lending defined by a single image 

[notmyrealname23]

My credit rebuild started with a secured OpenSky card. $39 annual fee, no funny games with fees, no CLIs for pay... and no credit check, just hand them your security deposit- which I eventually got back when I got further down the road in my rebuild.

I have to say I find a not too terrible annual fee to be a lot more reasonable than one that's going to cost you over $200 in year one, and well over $100 every subsequent year...

[SouthJamaica]

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@TXPocohontas wrote:

I have had my First Premier credit card for about 2 years now.  I have not had any bad experiences with them. I got the card initially to rebuild my credit score up after going thru a theft and identity theft back in 2015.  I went credit cardless from 2015 to 2019 while cleaning off things that were fraudulent. I only have a $300 limit but it is sufficient for the purpose.

I called First Premier with an account question and ended up having a great conversation with them.  Did you know the owner created the credit card just for people who were starting or rebuilding their credit? His whole goal was/is to help folks to on the right path of credit without making grave mistakes (getting over their heads) and that his card would lead customers to build their scores to get the other credit cards out there.  They consider themselves just a stepping stone.  That is why they offer a CLI for a fee.  They want to make sure that person really knows the responsibility that comes with it.  I have to say that I honestly appreciate their philosophy.  I have went on to get other cards at higher limits (and I am very responsible by paying off the balance each month before it is due).  I am keeping the card instead of closing the account but I am grateful they allowed me the starting credit card to move ahead.  They have done right by me.

Remember, this card is just a starting/restarting point so if you know of anyone who needs that first card, tell them about First Premier.   

Wishing ya'll the best.

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I don't agree with you.  I don't think you should  stay with them, and I wouldn't recommend it to others.  A predator is a predator, and is not doing anyone any favors.

[TXPocohontas]

I knew some people didn't have good experiences...dang.  I am not closing my account as I do not have the fees incurred others have pointed out.  Guess I am lucky.  I personally chose to have an unsecured card from a "predator" vs a secured card.  My choice.  Yes, I did pay an initial fee to get the card.  But I needed to qualify for my mortgage loan and it freakin worked.  Sometimes you have to pay the stupid tax to get ahead and that is what I did.  I feel no shame in it and have no problem keeping the card until they start doing me wrong.  I NEVER CARRY A BALANCE ON THE CARD (as you shouldn't either) so it should not matter if I keep it.  I waste more money on food each month than a tiny fee.  I have my priorities straight.

[SouthJamaica]

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@TXPocohontas wrote:

I knew some people didn't have good experiences...dang.  I am not closing my account as I do not have the fees incurred others have pointed out.  Guess I am lucky.  I personally chose to have an unsecured card from a "predator" vs a secured card.  My choice.  Yes, I did pay an initial fee to get the card.  But I needed to qualify for my mortgage loan and it freakin worked.  Sometimes you have to pay the stupid tax to get ahead and that is what I did.  I feel no shame in it and have no problem keeping the card until they start doing me wrong.  I NEVER CARRY A BALANCE ON THE CARD (as you shouldn't either) so it should not matter if I keep it.  I waste more money on food each month than a tiny fee.  I have my priorities straight.

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OK, I take it back; I see that you know what you are doing.

[Anonymous]

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@TXPocohontas wrote:

I knew some people didn't have good experiences...dang.  I am not closing my account as I do not have the fees incurred others have pointed out.  Guess I am lucky.  I personally chose to have an unsecured card from a "predator" vs a secured card.  My choice.  Yes, I did pay an initial fee to get the card.  But I needed to qualify for my mortgage loan and it freakin worked.  Sometimes you have to pay the stupid tax to get ahead and that is what I did.  I feel no shame in it and have no problem keeping the card until they start doing me wrong.  I NEVER CARRY A BALANCE ON THE CARD (as you shouldn't either) so it should not matter if I keep it.  I waste more money on food each month than a tiny fee.  I have my priorities straight.

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It's not a matter of good or bad experiences.  Just as fairly, I could say "As one with no emotional attachment to a decision that I made, I can see objectively that this card charges much more than equally accessible options"

If you don't have to pay those fees, fine, but  you were suggesting that people recommend the card, and the table that I and @Remedios posted is what people should expect to pay.

You don't need our buy in to keep the card, or to feel justified in your decisions, especially with your priorities straight. But we are free to disagree with your assessment, especially about recommending it to others.

And, if you have other options now, paying a "tiny fee" for a $300 CL is rarely a good decision, even for credit score purposes.  IMO, it's always good to reevaluate from time to time.   If the card helped you get a mortgage, great, but that was then and now it is costing you money.  Use the fee money to donate to a more worthy cause if you want to reward altruism.

[Anonymous]

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@TXPocohontas wrote:

I called First Premier with an account question and ended up having a great conversation with them.  Did you know the owner created the credit card just for people who were starting or rebuilding their credit? His whole goal was/is to help folks to on the right path of credit without making grave mistakes (getting over their heads) and that his card would lead customers to build their scores to get the other credit cards out there.  They consider themselves just a stepping stone. 

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Just returning to my (non-FSR) cult comment:  I'm not sure what else you could expect.  I rarely talk to companies and hear something like "Oh yes, our founder.  Really smart but sleazy guy!   He saw a great opportunity to fleece people in financial trouble.   You know, they really need credit, can't get it from good lenders, so he had this idea to give them tiny amounts of credit and charge huge fees for those too lazy to find other options.   Very profitable, like the mob but legal, or payday lending but (apparently) more respectable.    And get this!   Some are grateful!!!!  Hard to believe...."

[Red1Blue]

Congrats