cancel
Showing results for 
Search instead for 
Did you mean: 

First Premier is suing the feds

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
Senior Contributor

Re: First Premier is suing the feds


@tdbss wrote:

They charge an anual fee of $72, then charge a monthly charge of $6 regardless if there is a balance or not, then they charge a CLI fee of 25% of the approved amount. So if you have 300 to start after the first year evertyhing is ok, you get approved to 700, you now would have paid 144 in fees and a 100 in cli fees the first year alone, not to mention 29% and up interest rate. Secured is the way to go, and you would ultimately get that money back.


Secured might be the way to go, but you conveniently forgot two important factors:

 

1.  You can get declined for some secured cards; and

2.  A lot of people might not have $300+ up front to get a secured card.

IAALBNYL
Message 51 of 58
Valued Member

Re: First Premier is suing the feds

Well I suppose than its a choice.  If you don't have the money now, you most likely don't need it, another opinion of course. I am sure there are a lot of choices out there, I don't know of any,because I am not shopping for them, and 2., Not having 300 dollars is not an important factor., but shelling it out for repairing credit or starting out new, to "Get in the Club" is simply not something you need to do or should worry about.

There is great information on these boards and the interenet , just look around.

10.28.09 EQ 571 TU 606
11.24.09 EQ 611 TU 566
1.3.10 EQ 653 TU 566
2.6.10 EQ670 TU598
5.4.10EQ691
9.17.10 EQ658 TU682
Message 52 of 58
Senior Contributor

Re: First Premier is suing the feds


@tdbss wrote:

Well I suppose than its a choice.  If you don't have the money now, you most likely don't need it, another opinion of course. I am sure there are a lot of choices out there, I don't know of any,because I am not shopping for them, and 2., Not having 300 dollars is not an important factor., but shelling it out for repairing credit or starting out new, to "Get in the Club" is simply not something you need to do or should worry about.

There is great information on these boards and the interenet , just look around.


I seriously doubt you will find another unsecured credit card choice for people who have really terrible credit.  Just because you are not in need of FP, it would be irresponsible to state that nobody else does.

 

FP plays a role in the credit card marketplace.

IAALBNYL
Message 53 of 58
Valued Contributor

Re: First Premier is suing the feds

the way i see it, even if i had a fico score of 398, if i had any damn sense in me, i would be willing to save a measly 200 dollars just to get it all started. THATS 100% all that is needed to start a credit account with open sky public visa secured. why in sam fickle would i ever be so impulsive and financially incapable and lack so much self control that i somehow cannot save 200 dollars and be set with a card that well treat me well, instead i must resort to prison slum cards. NO WAY. not over my dead body. one should send me to the amazon jungle to survive on my own before one makes me open a scathing FP or CreditOne.

 

have some self disipline and learn to scrimp and save at least 200 dollars. learn to say no. one must realize he is not powerless over FP. he does not have to have FP. why on earth does one need an FP. really? i will walk to work for a couple of weeks if i have to and put off that walmart bike until i have that public card. i will find a way trust me. thrift stores are always an emergency outlet. get a sweatshirt for one dollar. sweatpants, one dollar. walmart can wait.

 

public secured garantees you a credit card, regardless of credit... why..... becasue public bank DOES NOT check your credit. so that means no hard pull even. and best of all you don't even need a checking account. and no stupid online payment fees either.

 

please, i beg of each of you, that is considering fp or credit one; consider a little patience and save 200 dollars for a card that wont treat you like a prisoner. i promise it will be worth the wait.

earth air water fire master visa express discover
Message 54 of 58
Senior Contributor

Re: First Premier is suing the feds


@scottwagnon wrote:

the way i see it, even if i had a fico score of 398, if i had any damn sense in me, i would be willing to save a measly 200 dollars just to get it all started. THATS 100% all that is needed to start a credit account with open sky public visa secured. why in sam fickle would i ever be so impulsive and financially incapable and lack so much self control that i somehow cannot save 200 dollars and be set with a card that well treat me well, instead i must resort to prison slum cards. NO WAY. not over my dead body. one should send me to the amazon jungle to survive on my own before one makes me open a scathing FP or CreditOne.

 

have some self disipline and learn to scrimp and save at least 200 dollars. learn to say no. one must realize he is not powerless over FP. he does not have to have FP. why on earth does one need an FP. really? i will walk to work for a couple of weeks if i have to and put off that walmart bike until i have that public card. i will find a way trust me. thrift stores are always an emergency outlet. get a sweatshirt for one dollar. sweatpants, one dollar. walmart can wait.

 

public secured garantees you a credit card, regardless of credit... why..... becasue public bank DOES NOT check your credit. so that means no hard pull even. and best of all you don't even need a checking account. and no stupid online payment fees either.

 

please, i beg of each of you, that is considering fp or credit one; consider a little patience and save 200 dollars for a card that wont treat you like a prisoner. i promise it will be worth the wait.


 

I woud suspect that if Public advertised as heavily as FP then more people would know to avoid FP.  With a $50 annual fee, I'm sure Public could afford to.

IAALBNYL
Message 55 of 58
Valued Member

Re: First Premier is suing the feds

Thanks for the info, I knew there was stuff out there, and they don't hard pull hard credit is another bonus. Couldnt you do it at your bank or a credit union also?   I did something similiar 20 years ago when first starting off, and also a JCPenny card.  After a year of everything looking good, was offered Citibank with 500 limit.  Two years later I was at 3000 by my 21st birthday, thinkgs may be different now.

 

Another concern I have, and I have  seen this  in another thread was that if your looking for a Auto or home loan , or even an apartment where your credit file is manual reviewed on an indvidual basis,  Having something like FP on it may do may harm than good, regardless of the standing.  Since anybody can get the card, it may look like your hiding somehting or have had previous difficutlies, which would show red flags versus having something like your local bank or credit union which by standards are harder to get .  Your credit file does'nt indicate secured or unsecured..  FP is known as a joke in the credit world and since anyone can get it, there is no value an having one.

10.28.09 EQ 571 TU 606
11.24.09 EQ 611 TU 566
1.3.10 EQ 653 TU 566
2.6.10 EQ670 TU598
5.4.10EQ691
9.17.10 EQ658 TU682
Message 56 of 58
Established Contributor

Re: First Premier is suing the feds


@tdbss wrote:

Thanks for the info, I knew there was stuff out there, and they don't hard pull hard credit is another bonus. Couldnt you do it at your bank or a credit union also?   I did something similiar 20 years ago when first starting off, and also a JCPenny card.  After a year of everything looking good, was offered Citibank with 500 limit.  Two years later I was at 3000 by my 21st birthday, thinkgs may be different now.

 

Another concern I have, and I have  seen this  in another thread was that if your looking for a Auto or home loan , or even an apartment where your credit file is manual reviewed on an indvidual basis,  Having something like FP on it may do may harm than good, regardless of the standing.  Since anybody can get the card, it may look like your hiding somehting or have had previous difficutlies, which would show red flags versus having something like your local bank or credit union which by standards are harder to get .  Your credit file does'nt indicate secured or unsecured..  FP is known as a joke in the credit world and since anyone can get it, there is no value an having one.


Anytime there is a credit pull, even for a secured card, there is risk of rejection. DW got rejected by Citibank for a secured card when she was rebuilding.

Message 57 of 58
Senior Contributor

Re: First Premier is suing the feds


@tdbss wrote:

 

...

 

Another concern I have, and I have  seen this  in another thread was that if your looking for a Auto or home loan , or even an apartment where your credit file is manual reviewed on an indvidual basis,  Having something like FP on it may do may harm than good, regardless of the standing.  Since anybody can get the card, it may look like your hiding somehting or have had previous difficutlies, which would show red flags versus having something like your local bank or credit union which by standards are harder to get .  Your credit file does'nt indicate secured or unsecured..  FP is known as a joke in the credit world and since anyone can get it, there is no value an having one.



I don't think there is any hard evidence to support the claim that having a FP tradeline does any harm

 

In any event, I used to have the same ideas that you have.  However, seeing that FP has a 40% default rate, I think the joke is that while everybody can obtain a FP credit card, not everybody can keep one.  Why wouldn't a potential creditor think "Gee, this guy used to be a clown, but if he can get his act together and be in good standing with FP -- in spite of the exceedingly high cost and stringent contractual requirements -- maybe he's starting to finally get his act together."?

IAALBNYL
Message 58 of 58
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.