Uh..some BIG negatives: Account Set-Up Fee: $29.00 (one-time fee) Program Fee: $95.00 (one-time fee) Annual Fee: $48.00 Participation Fee: $72.00 Annually* That's horrible. No matter how bad your credit is, definitely a lot better options out there.
DON'T FORGET THE OVER LIMIT FEE...before you use the card ONCE, you are over the $200.00 credit limit. Can't use your card till you pay off the bill in full or most of it!!!
Ditto Erica.. My first card (secured, but mine!)... been paying at least 30-40% of the balance every month, and got a $100 increase (hey don't laugh!) after 6 mos. I will be paying them off in Jan and not using them, but a damned good start for sub sub prime ;-) Deb
Meadowlark, 1st Premier should be a last resort card. The fees are outrageous, along with the interest, and limit increases are a joke. For example, during the one year I was with them, card holders are required to pay $25 for their first increase. I complied and got a $100 increase. Six months later...no lates, no over limits...I waited to see how my efforts would be rewarded. The end result was a whopping $50 increase! What an insult! My original line of credit was $400 and, when I closed the account a year later, it was at $550. Customer service was adequate. 1st Premier does have a toll free number and the reps are courteous. All of my payments were posted in a timely manner. If you don't need the credit, then definitely don't apply. But if you're just starting out and are having difficulty getting a card, this one might get you by for a while. In short, I don't recommend it. Hope this helps. Donna
My account has NO FEES associated with it. (except annual fee) I have a $200 limit secured card. Little story: I forgot that my bill was due on the 17th of this month. I mailed payment on the 13th of this month. The check didn't clear (post) until the 19th. When I found this out, I called and wanted to know if I had gotten hit with a late fee. The CSR was very nice and assured me that there was no late fee tacked on my account. Every time I have called to talk to someone, they have been super nice, and have never had a problem. I have only had this card since April, but NO Problems. The card does not report as secured, either.
And the fact that they DO report EVERY month is a bounus if you're rebuilding... Deb Unlike some <cap1> cards...
No CapOne doesn't report limits but I'd still take them over 1st Premier *any* day! For starters, CapOne's fees are lower and, for cards that do have an annual fee, the customer service reps can easily be talked into waving it. The two cards I have no longer have fees. And increases too come a lot easier with CapOne. Last September, for instance, I received a gold card with a $500 limit. Three months later, without even asking, I got a $2500 increase. Then, thanks to Mr. Miller, my limit was increased to $4000 in April. So, overall, I'm pretty happy. As far as 1st Premier is concerned, they refused to budge on the increases and, when I canceled, the retention rep didn't seem to care and barely tried to talk me into staying. At that point, it didn't matter, though, because, under the existing terms, there was no way I was keeping that confounded card! Donna
I have this card, got it in April. My score was about 530ish on Experian, whom they pulled, as well as TU (Don't know what the score was), at the time. My CL is 750$. Yes, it is true about their up front fees. My interest rate on my card is currently 19%. That's better than the providian card that I have had for 3 years (not one late pay). When I have called customer service, they have been pleasant. Their automated service (to check balance, payment crediting, etc.) is a bit of a chore to get through though-a lot of ads and messages to actually get to where you can get to account info. Also, you can make an automatic payment for 5$-gee thanks-but, it is nice to be able to do it immediately. I haven't asked for a limit increase yet, but will at 6 mos (if I don't get one). I am seriously rebuilding, and this card has been okay so far. I also got a First national credit card visa around the same time. I don't recommend those folks-they advertise on this site. Got a puny limit w/ again, a bunch of fees. And when your CL is only 250$, it isn't hard to go over. And I cannot swear to it, but they seem to hit you w/the monthly fee right when it can put your account into overlimit. I will probably cancel both of these cards as my credit improves, because the fees and low CL. But so far (and I reserve the right to rescind this comment) First Premier has been OK.
This company is a joke! Even if your credit is in the crapper this company takes advantage of those people looking to rebuild your credit. I keep getting their mailers in the mail and I don't even need their service, besides my file is blocked for promotional purposes. Called them in reference to this and to remove from list, still receiveing them! They have all those fees..Fees...FEes...FEEs...FEES! Try Merrick Bank, they are a decent subprime card without all those fees. ---> Zaphod
Keltexx, Nice post and that was a good objective evaluation of 1st Premier. I'll be eager to hear what you think in another six months or so. Erica said her card was secured and didn't come with any upfront fees. Maybe that's 1st Premier's policy on secured cards...I don't know...but the unsecured card I was issued came with all kinds of fees! I especially remember a pretty hefty processing fee, something like $172, and let us not forget the ever-popular monthly participation fee. Mine was $6. As far as Providian is concerned, I'm no fan of theirs either. Others here have had good luck with them but I have not. The folks in customer service provide conflicting information and I haven't found them to be very responsive. However, you and I, Keltexx, are definitely in the minority. The majority of board members here ten to be Providian fans. Donna
1. cap one 2. Aria/paypalcreditcard.com 3. Householdcard/orchardbank. before i would get first premier.. first thing i would do is dispute all your reports and sit on your thumbs before applying to any card.
I will simply say that ANYONE can do better than this card. Erica...I dont know what kind of offer you got. Maybe because it is secured and they GOT your money up front.... But anyways, the fees are terrible. I had it for 1 year. I guess it did something for me. Not sure. THERE ARE SO MANY BETTER OFFERS FOR A SECURED OR UNSECURED CARD. Never pay a monthly fee to a company for a card. I did it for FNBM and FP. But I know better now.
I have a Cap One Visa (the "marble green dinosaur") and was offered a Visa Gold "as part of our growing relationship." It carried a monthly fee of $6, or $72 per year. Having seen a similar fee imposed on the First Premier card, I knew that this offer from Capital One was an insult. First Premier practically defines the "honest sub-sub-prime" category, which category excludes Cross Country bank. Once you learn about First Premier, you can detect sub-sub-prime features in certain offers from Capital One and Providian. So be on guard for application fees, acceptance fees, monthly fees, and disproportionate annual fees. They can be imposed even by the better subprime banks.
wierd my 1st cap one gold visa has $0 yearly fee, my second has $29 annual fee. no monthly b/s. You just need to negotiate the terms, like any car. Household gave me a $59/year $1000 line the other day. Pretty lame looking blue card. But $1000 line on my report improves my debt ratio so be it.
Yea, I called immediately after getting my Cap1 card with $72/year fee, and they reduced it to $32 and will be no annual fee after year 1. That was a very easy and simple process, limit increases were tougher but got them too. They will negotiate, use your phone and call a customer representative. Scribble on a sheet of paper the phrase "patience is a virtue" and hold it in front of you when you call. LOL Reaching a HUMAN BEING can be tough, all my cards have different means of reaching a live person. Some are star (*) some are zero (0) some are by hitting NO keys at all and pretending to be on a rotary phone (as if). Hang up and call back if you get a rep that won't give you anything...politely say "ooops theres my doorbell, I'll have to call you back" then hang up. Persistence is the key and patience is the virtue. -Peace, Dave
