1st Premier Bank

[hopefulinde]

Has anyone had any success with 1st Premier Bank with PFD?  I would really like this to get off my credit report and they just sent me a letter back saying it was illegal to remove accurate information. 

[Anonymous]

I don't recall any or many having luck with them, but I could be wrong. I read a lot of post and sometimes it is hard to keep them straight.

However, as far as it being "illegal to remove accurate information", No, it is illegal to report inaccurate information. It is not illegal to not report at all. FCRA doesn't require a creditor to report, just requires them to report accurately.

Is this an old account? Do you have others this old or older? Just paying it and leaving it could be your best option. It is helping in the history department.

[hopefulinde]

This account was from college 5 years ago, and my mother was using the card.  It went into default about 2 years ago, and in my state the SOL is 6 years, so I have a while.  I would like to buy a house next year (if that's possible) and my FAKO EXP score is 545, so I have ALOT of work to do.  I would just like the whole account to be cleared, because there were alot of lates on the account and it was a low balance.  I have loans older than this, but no credit card history older.  What should I do?

[Anonymous]

If they won't PFD, I would pay.

The reason I say this is because it is better to pay the OC and have just the OC on your reports, then it is to not pay and they turn it over to a CA. Then you have the OC and CA on your reports.

Also, as long as there is a balance, you are likely getting hurt big time on util.

Search the forums for "First Premier and PFD". If you aren't likely to get them to PFD, I would pay it and move on. You can always bug them with GW letters after it is paid.

[hopefulinde]

Thanks for your help!

[Anonymous]

First Premier Bank was a great tool for rebuilding my credit, but once I was able to open other revolving accounts, I cashed in with them. I would recommend anyone else to do the same as they are infamous for incorrect reporting, ridiculous fees and high interest rates.