what a joke

Discussion in 'Credit Talk' started by LKH, Sep 6, 2000.

  1. LKH

    LKH Well-Known Member

    I recieved a "pre-approved" offer yesterday from 1st Premier Bank. They were offering both a visa and m/c with a credit line of $250 - $1000 on each.
    processing fee $28 per card
    acceptance fee $119 per card
    annual fee $50 each
    monthly participation fee $6 each
    apr 18.9% on balances less than $1000
    16.9% on balances over $1000

    Gee, do you think they'd let me have maybe 5 or 6 accounts?
  2. Momof3

    Momof3 Well-Known Member

    That sounds just as bad as Merreck banks offer my husband received, we trashed it of course
  3. Asking You

    Asking You Guest

    This sounds like a TERRIBLE card, you will be out of at least $200 on a card with a $250 limit BEFORE you even charge anything. Call Providian.......
  4. Cadillac408

    Cadillac408 Well-Known Member

    Wow! Their smoken CRACK! Don't even bother. Call Providian or Capital One. At leas they don't make you come out the pocket like that.
  5. RichGuy

    RichGuy Guest

    Once they increase your limit to $20,000, and you max out the card, you will find that your interest and fees add up to less than 18% of your balance. Your processing and acceptance fees will in retrospect have been less than 1% of your balance.

    Of course, if it takes a limit of $20,000 to make the card worth having, it will never be worth having.

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