New First Premier Bank Offer !

[Anonymous]

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@waqaszm1 wrote:

helping DW improve her scores. She just received a pre-approved offer from First Premier. As sorry as this bank is, i figured we should get some advice here before deciding. It offers a guaranteed $700 limit with a $175 annual fee leaving an initial available cl of $525. No other fees for the first year. A 35.9% apr, and a 27 day grace period.

after the first year, its a $14.50 monthly fee - no other annual fee.

my DW usually pays in full and very rarely carries a balance. any advice ?

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Yes -- run the other way. FP is the subprime of the subprimes. I agree with the other posters -- look into an Orchard Bank or Capital One card. The annual fee for this card is obscene.

[aftermath]

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@Anonymous wrote:

I wouldn't touch First Premier - they will suck the money right out of your wallet.

Do check out the Credit Card Center tab up top of this page.  They have a section for getting a credit card with FICO scores below 640.

If your wife has pulled a FICO score from this site, and if you're willing, post her score and you'll get some good feedback on what rebuilder cards folks might recommend.

I'm a big fan of Orchard for rebuilding.  I see from your siggy that you're not.    But I have to wonder why you'd be willing to make nice-nice with FP and sing their praises when they are much snakier and much more fee-loaded than Orchard.  My prediction is if you had a rough time with Orchard, you'll be wallowing in fees and fines with FP.  FP will likely do you in and kill your FICO scores while they're at it.

If you're not a fan of Orchard, definitely skip FP and look for some of the other recommendations folks here will give you - you'll probably find something you're comfortable with that won't eat you alive!

edited for silly spelling errors

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Hey that's my sig, not his!

[Anonymous]

I would say you have a good chance of getting a Standard Platinum card from Cap1 or a Best Buy RZMC that may have a $39-$59 annual fee tagged to it, but not a whopping $175 bucks on the card that Orchard Bank is offering.

I would steer clear of this card offer and not look back.

[Walt_K]

Doesn't Capital One counteroffer you their secured card if they deny you for a Classic Platinum card?  I think I read that on here somewhere, maybe a post by JayRizzo.  If so, that would seem to be a good bet.

[mtva24]

Stay away from these bums...$175 for an annual fee, that is highway roberry!!!

[trumpet-205]

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@mtva24 wrote:

Stay away from these bums...$175 for an annual fee, that is highway roberry!!!

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Back then, First Premier bank offers a card with 79.9% APR. Now that's truly highway robbery.

http://money.cnn.com/2011/02/07/pf/credit_card_interest_rate/index.htm?iid=EL

[Anonymous]

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@aftermath wrote:

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@Anonymous wrote:

I wouldn't touch First Premier - they will suck the money right out of your wallet.

Do check out the Credit Card Center tab up top of this page.  They have a section for getting a credit card with FICO scores below 640.

If your wife has pulled a FICO score from this site, and if you're willing, post her score and you'll get some good feedback on what rebuilder cards folks might recommend.

I'm a big fan of Orchard for rebuilding.  I see from your siggy that you're not.    But I have to wonder why you'd be willing to make nice-nice with FP and sing their praises when they are much snakier and much more fee-loaded than Orchard.  My prediction is if you had a rough time with Orchard, you'll be wallowing in fees and fines with FP.  FP will likely do you in and kill your FICO scores while they're at it.

If you're not a fan of Orchard, definitely skip FP and look for some of the other recommendations folks here will give you - you'll probably find something you're comfortable with that won't eat you alive!

edited for silly spelling errors

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Hey that's my sig, not his!

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  Ha!  That's funny!  Well, then - go for the Orchard OP!!!!  (Or whatever else toots your horn!) 

[Walt_K]

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@trumpet-205 wrote:

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@mtva24 wrote:

Stay away from these bums...$175 for an annual fee, that is highway roberry!!!

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Back then, First Premier bank offers a card with 79.9% APR. Now that's truly highway robbery.

http://money.cnn.com/2011/02/07/pf/credit_card_interest_rate/index.htm?iid=EL

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Never fails, every time someone reposts this story, I always get a kick out of how the CEO talks about the card.  It was extremely popular with consumers.  Ha. 

[JonStur]

I definitely wouldnt do this..take all the money you're giving them in fees and get a Cap 1 secured card if she doesn't qualify for their Plat. Card...

[Anonymous]

To All the Above Posts,I say   AMEN,AMEN,AMEN!!!!

If she can pif every month then she doesn't need to get robbed by those crooks...IMO