Secured to Unsecured How Long?

Discussion in 'Credit Talk' started by Erica, Apr 26, 2001.

  1. Erica

    Erica Well-Known Member

    I just received my $200 secured MC in the mail today and want to know how long I have to have the account before asking to unsecure it.

    I previously posted that the card was from Orchard, but it is actually from First Premier.


  2. eddie

    eddie Well-Known Member

    Re: Secured to Unsecured How L

    I had a 1500. secured visa from the dicks at first premier. For three years I was never late and never over the limit. After 2 years I begged for a limit increase and got 400. that cost 79. They absolutely refused to unsecure and gave no further limit increases. On 2/28/01 I paid the card off and called to close it. They asked if I would leave the card open I said no unless they unsecured it. They said no so I closed it. I still do not have my deposit back and on last months statement which showed only the credit balance of 1500. they charged a 5.00 participation fee. First Premier sucks.
  3. Donna

    Donna Well-Known Member

    You got that right!

    1st Premier is such a rip off! Even after customers have demonstrated a good payment history, there is seldom a reward of a decent increase or lowered fees. This Company shows no confidence in their customers, even after creditability has been established.

    Erica, since you've already gotten this card, my advice is to keep it for a year and then cancel.

    Good luck.
  4. Erica

    Erica Well-Known Member

    Re: You got that right!

    Ok, thanks for the advice, I appreciate it.

  5. sam

    sam Well-Known Member

    Re: You got that right!

    Yah dump it. Capitalone 14 months, unsecured and closed. They transferred my limit to unsecured gold product at 15.9% apr /$24/year fee.

    Everyone posts here first premier is a go nowhere bank.
  6. Erica

    Erica Well-Known Member

    Re: You got that right!


    I had applied for secured Capone, and got denied. Maybe after a year, they will reconsider.

  7. VJ

    VJ Well-Known Member

    Re: You got that right!

    You should wait the year,get billed for the yearly fee and then call to get either your deposit or yearly fee waived.I don't think they will do both in the same month. Go for fee waiver and try again to get a non-secured $200.00 increase @ same time.3 more months you should be able to get your deposit returned keeping the same c/l.


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