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Understanding how First Premier works...

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Regular Contributor

Understanding how First Premier works...

Hey,

So, I found out there was a dispute without me knowing on the Experian side with First Premier...

I then called First Premier, and the rep says there's a dispute put on the account, I guess that's what made the dispute pop up on the Experian side with FP...

So, then the rep says fax a document over saying YOU REQUEST THERE BE NO DISPUTE ON THE ACCOUNT, include account ID, signature and date. Once faxed, 7-10 business days they'll report to all three bureaus notating the CC account as paid in full and zero balance. I did fax this document. This is all after I recieved a paid in full letter from them.

So, I'm vey surprised how difficult FP is to work with at this point...

After doing this digging, I'm not surprised. Lots of credit card companies out there are PREDATORY! :/

Anyone else faced this issue with FP in the past?

 

Message 1 of 41
40 REPLIES 40
Valued Contributor

Re: Understanding how First Premier works...

All you need to understand is that FP does the Devil's work.


They've probably become so accustomed to folks disputing that they preemptively added a notation to your account. Do a search for First Premier disputes here in the forum or just through Google... you'll see what I mean.

Personal Aphorism:
"Forget What You Feel, Remember What You Deserve"


Starting FICO 8s | 09/06/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 10/01/2019: EX 747 ✦ EQ 728 ✦ TU 756
Current FICO 9s | 10/01/2019: EX 765 ✦ EQ 765 ✦ TU 758
Highest FICO-8 Ever | 10/2018: 780 [on dirty report]

2019 Goal Score | 760s


My AAOA: 2.8 years not incl. AU / 2.11 years incl. AU
My AoOA: 6.8 years not incl. AU / 8.8 years incl. AU
Report Status: Clean

Tending my Garden til 2/2020


Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.
Message 2 of 41
Regular Contributor

Re: Understanding how First Premier works...

Oh, wow...

Every time I hear about First Premier on here, it makes me run away, fast too.

Thanks for the reply TMR

Message 3 of 41
Regular Contributor

Re: Understanding how First Premier works...

Oh...

I forgot to note something.

One rep I spoke to on the phone said the paid off balance will be reported between the 1st and 15th of this month (Jan.), so I'm waiting to see if that's true or not. But when I found out there was a dispute on Experian with FP, then another rep says the dispute on FP side might be what's causing the paid in full from being updated with the three bureaus.

Message 4 of 41
Valued Contributor

Re: Understanding how First Premier works...

I... don't know. I guess that's possible - but I'd think it would depend on the nature of the dispute. Did they, by chance,  tell you what this phantom dispute was about?

Personal Aphorism:
"Forget What You Feel, Remember What You Deserve"


Starting FICO 8s | 09/06/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 10/01/2019: EX 747 ✦ EQ 728 ✦ TU 756
Current FICO 9s | 10/01/2019: EX 765 ✦ EQ 765 ✦ TU 758
Highest FICO-8 Ever | 10/2018: 780 [on dirty report]

2019 Goal Score | 760s


My AAOA: 2.8 years not incl. AU / 2.11 years incl. AU
My AoOA: 6.8 years not incl. AU / 8.8 years incl. AU
Report Status: Clean

Tending my Garden til 2/2020


Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.
Message 5 of 41
Regular Contributor

Re: Understanding how First Premier works...

The rep didn't say all she said was there's a dispute way back in like 2014, I guess when the account was open, it's probably there because I remember a company way back when was hounding me down to pay them, not sure if it was FP.

Message 6 of 41
Valued Contributor

Re: Understanding how First Premier works...

2014 was a heck of a year huh... (that's when I defaulted with FP).   

 

A dispute from when the account was open years ago, in theory, should have no effect on reporting the account now as paid / $0 balance -- that would make no sense (assuming we are dealing with a sensible co.).     

 

When they updated my account to paid / $0, they did so according to the original billing cycle of the account while it was open.  My cycle closed on the 9th -- and they always reported around the 11th of each month.  The same happened when they updated as paid in 2017 -  I paid on Sept. 17th and the update hit my reports on Oct. 11th.    So, if you know what your old billing cycle was, then you should look for an update a few days after whatever the statement closing date was -- unless they promised you something different - like that they'd report immediately. 

Personal Aphorism:
"Forget What You Feel, Remember What You Deserve"


Starting FICO 8s | 09/06/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 10/01/2019: EX 747 ✦ EQ 728 ✦ TU 756
Current FICO 9s | 10/01/2019: EX 765 ✦ EQ 765 ✦ TU 758
Highest FICO-8 Ever | 10/2018: 780 [on dirty report]

2019 Goal Score | 760s


My AAOA: 2.8 years not incl. AU / 2.11 years incl. AU
My AoOA: 6.8 years not incl. AU / 8.8 years incl. AU
Report Status: Clean

Tending my Garden til 2/2020


Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.
Message 7 of 41
Regular Contributor

Re: Understanding how First Premier works...

Oh...

So, what you're saying is that I shouldn't expect a score increase from the balance going to zero?

On the myfico credit report FP balance is showing 142% revolving, just like when the BofA cc showing it's revolving (a little circle that has red)

Message 8 of 41
Valued Contributor

Re: Understanding how First Premier works...

No no no....  you will see a FICO increase once the balance updates to $0.   

 

What I'm saying is that the update may not happen til a day or two after your original billing cycle ended.   You know how credit card companies report your balance to the bureaus after your billing cycle closes and your statement cuts?   First Premier sticks to that schedule when updating your account balance with the bureaus.   So they will likely report your 'paid / $0' status around the same time they used to report your account balances back when the account was open and in good standing. 

 

 

Personal Aphorism:
"Forget What You Feel, Remember What You Deserve"


Starting FICO 8s | 09/06/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 10/01/2019: EX 747 ✦ EQ 728 ✦ TU 756
Current FICO 9s | 10/01/2019: EX 765 ✦ EQ 765 ✦ TU 758
Highest FICO-8 Ever | 10/2018: 780 [on dirty report]

2019 Goal Score | 760s


My AAOA: 2.8 years not incl. AU / 2.11 years incl. AU
My AoOA: 6.8 years not incl. AU / 8.8 years incl. AU
Report Status: Clean

Tending my Garden til 2/2020


Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.
Message 9 of 41
Highlighted
Regular Contributor

Re: Understanding how First Premier works...

Also, shouldn't I be able to the get the closing of the FP account if I call in tomorrow and ask? I have the right to know, lol

Message 10 of 41
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