First Savings CC - bad offer? :)

Discussion in 'Credit Talk' started by MT, Aug 19, 2001.

  1. MT

    MT Well-Known Member

    I know this is a terrible offer, but thought I would post it for everyone to read. A solicitation from First Savings Credit Card, Sioux Falls, SD arrived in my mail on Saturday. Should note that it is for a MasterCard.

    Max. Credit Line UP TO $2500
    APR 18.9%
    Grace 25 days

    Annual Fees
    Annual Membership $50
    Monthly Participation Fee $72 annually ($6 each month)
    Authorized User Card $20

    Fees for issuance or availability of credit
    Processing Fee $35 (one-time only)
    Acceptance Fee $119 (one-time only)
    First Credit Limit Increase Fee $25 (one-time only)

    Late and overlimit
    $20 each

    Other Fees
    Express Mail Cards $25
    Copying Charge $5 PER DOCUMENT
    Automatic Payment $5
    Returned Check $20
    Express Processing Fee $5 (one-time only)

    Also tries to sell a membership to "The Premium Club" at $3.95 per month, among other things, this membership includes automatic credit limit increase reviews, 48 hour emergency card replacement, access to emergency cash, free financial mgmt guide, free membership cards for savings at select retailers.

    Oh, and cardholder eligibility approve by P. Masters, Sr. Credit Officer.

    HA! I'll return the envelope with scrap paper or something. Wish I had some glitter or something....

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