LOL @ First Premier

[Anonymous]

They sent me a pre-approval letter today. Starting credit limit of $700 with an annual fee of $175 Sorry But i think i will just stick with my NFCU Cash rewards card with a 3k limit. I've been watering it daily so i'll just watch it grow. $175 annual fee that is just rediculous.

[william23]

I hate first premier ! When I close mine it will go in the blender hoo rah!

[Anonymous]

First Premier got me where I am today, but sadly I will be closing my FP account later this year.. I just can't pay the AF anymore when I have 3 new CC's with no AF and rewards. My girlfriend will also be closing her's later this year too, as she just got approved on a Cap 1 card

[Anonymous]

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@Anonymous wrote:

They sent me a pre-approval letter today. Starting credit limit of $700 with an annual fee of $175 Sorry But i think i will just stick with my NFCU Cash rewards card with a 3k limit. I've been watering it daily so i'll just watch it grow. $175 annual fee that is just rediculous.

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$175?????????????

That's insane!

[DI]

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@Anonymous wrote:

They sent me a pre-approval letter today. Starting credit limit of $700 with an annual fee of $175 Sorry But i think i will just stick with my NFCU Cash rewards card with a 3k limit. I've been watering it daily so i'll just watch it grow. $175 annual fee that is just rediculous.

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They should be ashame. How can anyone work for a company like that. 

[tinuviel]

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@Anonymous wrote:

First Premier got me where I am today, but sadly I will be closing my FP account later this year.. I just can't pay the AF anymore when I have 3 new CC's with no AF and rewards. My girlfriend will also be closing her's later this year too, as she just got approved on a Cap 1 card

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I just closed on FP account this month, and will be closing a second one in August. I think we should organize an online FP Cancellation Party! LOL!!!

[Anonymous]

I can't even believe it is legal for them to do that. I understand that  if you mess up your creit it should cost you some. $175 AF is just greed. 

[Boonie]

About a month ago I requested a CLI from FP and was denied due to prior late payments (almost 3  years ago)... so my limit is still $450.     I just applied for NFCU cash rewards and was approved for $10k.   Proof that FP is a truly a joke, but they did help me recover, but at a cost.

[Coldness]

Haha, I actually got the same offer a couple of weeks ago, I kept it because it was so off the wall... 

$700 limit, $175 annual fee, and.... 35.99% (!!!!) interest. I'm half tempted to mail them a photocopy of my terms for my 5k limit discover with 14.99% in the return envelope. The envelope had these colorful baloons on it and it said I was pre-approved for a REAL, GENUINE MASTERCARD@!, it looks like it's geared towards a 13 year old... seriously, this should be considered corporate robbery.

[JayRizzo]

I can't remember where I read this, but we know since the CARD Act, they cannot charge an outrageous fee for a low-limit card but what I think they've been doing is hiking up the initial credit limit to $700, so their fee is still within a certain percentage but then out of left-field, they will reduce your credit line -- because they "can" at any time according to their Terms & Conditions.  Therefore, they just collected on you without breaking the rules -- just worked around it.

I'm not sure if it was this particular ccc in the article or news, but it sure sounds like it.