Is First Premier Bank a Scam?

Posted by CreditCardGuru

First Premier Bank parodyLoathed. Despised. Hated. Those are all words I’ve heard used to describe First Premier Bank credit cards. But is calling it a “scam” an accurate description or not?

2014 Quick Summary: The reason people have such a negative opinion about Premier is largely due to their insanely high fees: $170 during the 1st year alone! They’re not technically a scam, just a really sucker deal. If you have bad credit then you will be better off with this card instead.

What they do?

If you’re not familiar with First Premier, they are bank in South Dakota. A little history lesson: South Dakota was the very first state that had the darkly cynical idea to pass a law in the early 80′s to allow any bank headquartered there to charge whatever rates they please nationwide. This lured major banks like Citicorp to move their money-center credit card operations to the badlands and jack up their interest rates, which had previously been held down by New York usury laws. But I digress. Back to First Premier. They have a few brick and mortar locations there which offer full-service banking, however they’re much better known for their credit cards available nationwide. In fact, according to Wikipedia, First Premier is the 10th largest issuer of MasterCard and Visa cards in the US. There is big money in sub-prime credit cards.

But these aren’t just any credit cards. First Premier is famous for fees… lots and lots of fees! Which brings us to the next part…

Why are they dispised?

Yes, they are credit cards for bad credit. But even taking that into account, the fees and interest rates go above and beyond the status quo for this category. Here’s a run-down for one of their credit card deals to give you an idea:

First PREMIER Bank MasterCard

  • Interest rate = 36%
  • Processing fee = $95 (one-time)
  • Annual fee = $75 for first year, $45 thereafter
  • Monthly servicing fee = None for first year, $6.25/month thereafter

In their marketing bullets, they say “If approved, your $95 Processing Fee gets you a $300 credit limit.” So you are paying these fees for a minimum credit limit which is quite low.

In addition to this particular card, there are several other flavors marketed under different names such as Classic, Gold, Forward – and my favorite – Premier Possibilities. It’s my favorite because I have no clue what “possibilities” the card offers, other than the possibility of going broke by paying all those fees ;)

Despite the different names, the fee structures and APRs on these cards are all very similar. Upon studying their applications, I actually have a hard time differentiating between some of them, other than their names and designs.

So the question as to why so many people hate them, I think the answer is quite obvious. But is it fair to say that First Premier Bank credit cards are a scam?

What it comes down to?

Despite the outrageous fees they charge, when I looked at the application for the aforementioned card, the fees and interest rates were spelled out in black and white:

rates and fees on First Premier card

They are telling you upfront how they are gong to stick it to you. So technically speaking, they are not a “scam” since say upfront how much you will be charged. However, just because they are not a “scam” doesn’t mean they are a good deal. They are clearly taking advantage of those with few other options and even less financial literacy.

In my personal opinion, I think they are one of the worst choices you could make for building or rebuilding credit. Why? Simply because you can accomplish the same thing using other cards that cost a lot less.

For example if you went the route of a secured card, you could put up a security deposit as low as $200-300 and in exchange, get a card that may only have an annual fee as low as $30 or $40. Since the security deposit will be refundable when you close the account, it’s a much cheaper option than paying the processing fee + annual fee + servicing fee that First Premier Bank charges on their cards. Check out this page to see the top secured cards.

I just wish people would read the First Premier applications before applying, because I think it would save a lot of heartache, if people understood what they were committing to.

That said, I totally respect a person’s right to spend their money how they wish. If someone wants to apply for a First Premier Bank card and ship their hard-earned money off to South Dakota, I believe that’s their right. After all, there’s no law against someone overspending on say, a designer handbag, so if someone chooses a pricey credit card then I respect that as their right. Unfortunately, it seems like most people aren’t reading the application thoroughly, so they don’t understand why they’re having to pay exorbitant fees and interest rates. Caveat emptor.

Last updated August 5, 2014


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Editorial Disclosure: The editorial content on this page is not provided by any bank, credit card issuer, airline or hotel chain, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author's alone, not those of the bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

50 comments... read them below or add your own

  1. Worried November 11, 2014 at 9:21AM

    My very responsible 19 y/o daughter applied for this card after receiving the offer in the mail. She didn’t know about credit cards and fees, etc., but wanted to start building her credit. She’s hard-working and has saved a lot of money already. When her card arrived, there was a statement attached showing that she had a $500 limit, but that she already had been charged $175 (“fees”) and that her minimum payment due was $30, with $325 credit balance remaining. When she showed this to me, I called FPB immediately, pretending to be her and providing all pertinent information. The woman on the line was extremely RUDE and started trying to “school” me on how FICO scores work and the 10-point inquiry against the score for any applications for credit. I told her that I wanted to CANCEL this card and she wasted nearly 10 minutes of my time threatening me with bad reporting to “my” (daughter’s) credit history for non-compliance. I told her that she was NOT going to scam “me” and that I simply wanted to cancel this card immediately. She then said, “if you wouldn’t be such a bitch and keep interrupting me, I’d tell you to simply hang up the phone and cut up the card.” I told her to “tell Mickey Mouse that I said hello” (credit card companies HATE when you call them “Mickey Mouse account representatives”) and she hung up on me. I felt that the matter was handled, but now that I read some of the above posts, I’m wondering if that $175 charge was ALREADY and AUTOMATICALLY applied to the card as a purchase/use of the card would be and if my daughter still owes that $175 just for activating/applying for the card?! There is no activation necessary when you receive it, so it is ready for use. I will have my daughter wait to see if another statement arrives, but if she, indeed, does still owe for the $175 charge, I will have our attorney get on it immediately to fight to have the charges removed. If they do anything to report her unworthy for credit or damage her credit score, I will OWN them before it’s all over and I don’t care how much it costs me!! It’s the principal of the matter. I understand that credit card companies aren’t a non-profit organization but this company preys on people with NO CREDIT or BAD CREDIT and especially young adults looking to build credit as they begin to go out on their own. In researching this company further, I see that they are located in South Dakota and that SD has passed laws allowing creditors to charge ANY INTEREST RATE that they want to without the Federal cap that is mandated in most other states. There is a REASON for this – to rip off the consumer and prey on people. We also tried to log in online to find out what we could do to cancel the card, since calling them was such a hassle (I finally got through the options – #6 – to speak to a “customer service” -haha! – rep) and realized that there is a $4.95 charge for online access!! This company is so saturated in fees and outlandish interest that it’s CLEAR that they are the worst kind of rip-off artists. STAY AWAY FROM ANY DEALINGS WITH FIRST PREMIER BANK!!!! Try Capital One for credit BUILDING and Unity Visa for REPAIR. Good luck and be blessed!

  2. jhowze2015 November 5, 2014 at 9:46PM

    I am a 680 credit score and I am trying to figure out why I am paying 95 dollars to open an account that is not pre paid and an additional 75 dollars for a card that is suppose to be a credit card? I have two other cards and neither one does anything like that. Is this illegal or should I run a campaign to boycott First Premier for their practices.

  3. Jane Doe October 21, 2014 at 5:22PM

    First Premier bank product and service is horrible. First it has not help me build my credit as they advertise. Ive been monitoring my credit, I mostly pay full balance due or half every month, in advance. My credit has remained the same for the past year and 4 months with FPB. Second The customer service is horrible, the representatives are not courteous to the customers, no matter if you explain how urgent you need your funds to be available. Terms are just a catch to draw customers. Everytime i make a payment, my funds are never available the 3-5 days thats it say that it takes to process and post to the account. I just called because im going through the same problem again with my funds. I paid on 10/14/2014 and it says to post 3-5 days, again today 10/21/2014 the reps was aggitated and brief and did not provide any help. My funds will be available on the 10/23/2014, and the rep told me the funds are not guaranteed funds :-(. Im getting rid of this product tomorrow, pay my full balance and close the account. My experience with Credit One Bank is fabulous. I will keep that one card to build my credit. Credit one Bank has great services and really help customers. I just got my card, I already received a credit limit increase and my funds are always available on time. I requested 2 credit limit increase in the past with FPB and was denied both times. My best friend has similar problems as i do with FPB.

  4. Heath, Lane September 22, 2014 at 10:13PM

    Why NOT First Premier? Or whom ever you are?

  5. Heath, Lane September 22, 2014 at 10:12PM

    Why is First Premier charging a $14.50 Monthly Servicing Fee for an account requested to be closed as of June 2014, and “WAS” closed on this date while the account is being paid off. They charge an Interest Fee as well as a MYSTERIOUS Servicing Fee that really just started from no where because you are trying to pay the card off. What’s up with this First Premier? Dishonest is dishonest.

  6. Misty Delvin September 4, 2014 at 8:17PM

    I would like to thank all the people having dealt with this card company. I was about to apply online but before I did, I saw opinions that people had with this company. THANK YOU IN ADVANCE!!! Now I will toss it in the garbage!!!
    I have several credit cards anyway and I thought one more will be great. I think I can wait to see who else out there will offer me their cards. I already have 2 Capitol one cards and one with Credit One several clothing store cards and I am also building credit with other companies like Stonberry, Palm Beach Jewelry. There are other ways to build credit, it doesn’t have to be with a credit card.

    • carlos September 24, 2014 at 3:25PM

      Amen. I was about to sign up. Thank God for blogs like this.

  7. DCox August 29, 2014 at 11:14PM

    I usually don’t post on boards, but I just wanted to give my meager two cents for what it is worth. I filed chapter 13 in 2010 my credit scores really stunk across the board 480,491,510. The next year I got this application in the mail from FPB it was offering 500.00 limit for the 175.00 fee. I read the information thoroughly and threw it away. I got another one same offer two months later. I said well I have to start somewhere I did burn several major card issuers in my BK and knew it would be a long road back, so I said screw it ( in nice terms ) I got the card used it for gas and subscriptions to newspapers and magazines I set up the online account which I think I had to pay a fee for when I first signed up. I used the card very little and always paid it off immediately after receiving the bill ( or before) so if I paid interest it never exceeded 3-4 dollars. my scores started going up when I checked 6 months later. Every year I get a 150.00 increase on the card for a fee of coarse which I don’t mind to pay for the greater good it will do down the road. Two years into getting the card I received another card from first premiere with lower interest rate which I don’t care about because I always pay in full, and lower fees and I get the same increases for a fee yearly. After I got the 2nd card I was able to get a card from capital one bank with a 500.00 limit the next month it was a builder card so the limit was never going to change. I had it converted to a quicksilver one card earlier this year and applied for a credit limit increase last month and it was increased to 3800.00 and I also got a credit one visa card the same time as the capital one card with high fees and interest. and a year later (this year) I got a credit one mastercard with lower interest and fees. I stopped using the FPB cards in 2012 when I got the capital one and credit one cards I ran them up to 50% and immediately paid them off, so I pay very very little if any interest monthly.
    I still have all for cards open and just last week I got approved for a Barclaycard Rewards Mastercard with a 2500.00 limit.

    I pay FPD: 6.25 and 8.25 a month in monthly fees, only to keep them open because they are my oldest open REVOLVING accounts reporting to the bureaus, but not in use. limits 950.00/1100.00

    Capital one is 39.00 annually I charge a lot on it and pay it in full monthly to zero limit 3500.00

    Credit one: 8.25 a month and zero a month on the mastercard limits 1050/600

    Barclaycard 2500.00

    My credit FICO scores have gone up to 692/731/701 and my BK still reports with 3 years left to report before it falls off.

    I just wanted to share my story with everyone I really think having the sky high fee cards from FPS helped me start to recover on my journey to rebuilding I do plan to close them next year one at a time when I get the limits on my capital one and Barclayscard increased. I know I have paid them a ton of money in monthly fees for having the cards opened for so long but I like the 6 trade lines reporting for now. When I can get approved for Discover and one other card I will start to close them out. You have to start somewhere and if you screwed up before like I did with credit maybe paying the fee will be a reminder that you wouldn’t have to pay such fees if you took better care of your credit.

    I know that some people have bad credit because of financial issues out of their control, as did I….Husband lost job mortgage rate (ARM) adjusted out of control things started to get behind no help from lender to adjust or modify so we walked away and filled BK not an easy choice to make but we did it and are better off now and still improving.

  8. Jackie August 10, 2014 at 1:47AM

    So, I have a question. I got a letter from First Premier Bank saying I applied for a card and they want all this information from me: A copy of my driver’s license or birth certificate, documentation of my full social security number, verification of my physical address, such as a utility bill, but it has to be an original, not a copy. They say they can return none of these documents to me. This smacks of an identity theft scam to me. I am curious if anyone that has or had the card in the past was required to provide all this documentation. My other concern is that I never applied for this card, when I checked my current credit score/report (updated today)this company had made no inquiry into my credit history. I would think a company that is looking to give me a card would at least make a credit check?
    Thanks. Any insight would be very much appreciated.

    • Linda November 19, 2014 at 9:38AM

      these people are crooks. they will send you many cards that you did not apply for. you will only be paying to carry around a piece of plastic. don’t fall for it. they should be shut down

  9. john August 2, 2014 at 5:20PM

    thanks for the info good people and in the trash the application goes.

  10. Paulette H July 31, 2014 at 10:17AM

    Please, never take this card. I did and what a mistake. Not only is the interest 36% but the monthly fee just to have the card is 14.50 per month. So, along with the monthly interest charge and the monthly fee for the card it averages to around 50% per year in interest. I cancelled the card and have it almost paid off and I will never, ever deal with these people again. By the way, when I called to cancel the card the woman on the other end argues with me as to why I was cancelling it and it took 10 minutes of arguing to get her to cancel it. NEVER ACCEPT THIS CARD IT IS WAY TOO MUCH MONEY FOR ANYONE TO PAY MONTHY IN STUPID CHARGES. TRY FOR THE CREDIT ONE-THEY ARE PRETTY LEGIT.

    • rudy m August 6, 2014 at 12:21PM

      Hi Paulette i am in the same boat as you. I Pay my monthly fee and a bit more than what is asked and noticed i have been getting fee 14.50. awful its like nothing lowering my balance. MY question is when you called to cancel were they still going to charge you 14.50 until balance is paid. I mean im up for canceling it as long as they stop the 14.50 and i can just continue to pay off my balance til im done. I hate this card never again.thanks

  11. Im Good July 30, 2014 at 11:35PM

    Man, I dont need another credit card this bad. Anyone applying for this card should try all other options first.

  12. Rodney Britton July 17, 2014 at 7:52PM

    FIRST PREMIERE BANK IS WORSE THAN A LOAN SHARK. Never get a CC from these sharks. They will rip you off big time in all kinds of ridiculous fees. They are predatory lenders.

  13. Boss July 10, 2014 at 12:38PM

    I think premier bank is a good bank, they just want you to be responsible on your monthly obligations, like bills etc.pay everything on time, that’s why PB is for bad credit, and by paying monthly bill on time your credit score will increase… hmmmmmmmm. High fees?? Like what I’ve said, pay everything on time and everything will be settled and will be on its right place. Don’t blame them, you guys also applied at PB and then you just keep on complaining, if so then don’t apply.

    • Paulette H July 31, 2014 at 10:26AM

      You must work for them because they raise the monthly fee every year. I have made my payments above and beyond the amount due. I have been responsible with this card never going over or right up to the limit so don’t give people the crap about being responsible. Yes this was to build credit but raising the monthly fee to 14.50 a month for a good customer is wrong. This company is slime. Total slime balls.

  14. RLT July 9, 2014 at 12:40PM

    Bad Bad Deal, their fees make it not worth it!

  15. Michael Baxter July 1, 2014 at 6:24PM

    The article is not entirely accurate, but close enough. I DID NOT have to pay a upfront fee of $95 prior to using my card. I was given a card with a $700 limit and a $175.00 annual fee for the first year. That amount was subtracted from my available credit when I activated the card. So they did get their $95 bucks fro me, but I did not have to pay them up front before using the card to make purchases.

  16. Purple 7 June 9, 2014 at 6:52PM

    Worst credit card company .. They are crooks .Without you even using the card they send you a big bill. If you cancel the card with using it they report it to the credit bureaus as negative ..T

  17. Patricia Tursi May 23, 2014 at 3:33AM

    First Premier opened up an online account and my credit tanked because I don’t have a job. I am a identity fraud victim and no credit card company should have issued credit…another company, Capital One, refused the fraudulent application.

    The address on the application is 3 doors down from me and our mail is stolen routinely. The postman knows me and delivered the bill and refused application because he delivered by name and not by address. But in spite of bad credit, I was billed for a credit card that First Premier issued to an identity thief.

    First Premier was named worst credit card by consumer’s union. The founder is a self-styled philanthropist who robs the poor and gives to organizations so he can be seen as a philanthropist. Bizarre.

  18. Chill Williams May 5, 2014 at 10:46AM

    Everything you folks mentioned is true. No one has mentioned anything about a recourse of actions to prevent such scamming practices. I see nothing wrong with making money, but we must take action as a society of not being prey upon of such unethical behaviors. Any suggestions?

  19. Chris C April 15, 2014 at 5:49PM

    tHEY ARE JUST LIKE CROSS COUNTRY BANK,WHO LOANED GAVE CREDIT CRDS TO PEOPLE WITH HORRIBLE CREDIT.THEN CHARGE YOU A LARGE ACTIVATION FEE AND GIVE YOU EXTREMELY HIGH RATES.do not do business with this company.Wait for 4 -5 years if you have bad credit and begin applYing,with perhaps a 39 yearly fee to begin with at capital one,discovery or American Express.Pay them off on tIme,above the minimum amount and before you know it,keep the total below 50% of the credit limit and you will be notified of a credit raise without even applying for one.Finally negotiate the yearly fees AWAY and your back in business.This Bank,First Premier, is garbage.

  20. LSW April 3, 2014 at 7:42PM

    I think this credit card is good for someone with really bad credit. After all, people with bad credit pay more for loans, and a credit card is basically a loan. Would you turn down a car loan because the interest is high but the payment is affordable? You need that car, right? I noticed that when I paid twice as much as my monthly payment, I received a credit towards my account. I thought that was nice. What I did not like is when I asked for a credit limit increase, they denied me but in turn offered me another credit card with a higher limit. I am not sure how that works but I will deal with it. I think you need to pick the top 3 credit cards you would like to have and research them. I am 3 years in and I am happy with my cards and their limits.

    • Robert July 6, 2014 at 3:32PM

      Good? They are fraudulent.

  21. heather mease March 18, 2014 at 8:11PM

    what can I get since even capitol one denied me?

  22. Mari March 14, 2014 at 5:15PM

    THIEVES !!!! it is not worth it !!! Build your credit else where RUN AWAY !!!!!!!!!!

  23. Ruby March 14, 2014 at 4:01PM

    NEVER sign your LIFE away to this AWFUL SCAM CREDIT CARD, you’ll REGRET for the rest of your LIFE! Even if you have bad credit never don’t ever get this credit card either! STAY AWAY FROM THESE HUNGRY MONEY PIGS!

  24. nick jones March 13, 2014 at 9:09AM

    DO NOT!!!!!!!!!!!!!!!!!!!!!!! GET THIS CARD THEY ARE THE WORST IM 30 AND NEVER HAD A CREDIT CARD UNTIL THE END OF 2013 THEY DO ANY AND EVERYTHING TO MAKE YOU PAY EXTRA MONEY I TRIED TO MAKE PAYMENTS THOUGHT THE PHONE SYSTEM AND THEY KEPT SAYING MY CARD NUMBER IS WRONG BEFORE I EVEN GOT THE LAST NUMBER OF MY CARD TYPED IN. THEN WHEN TALKED TO A REP THEY CHANGED ME A LATE FEE AND $11 EXTRA BECAUSE I PAID LATE… BUT I WAS TRYING TO PAY BILL FOR 3 HOURS THE WEBSITE DOES NOT WORK. THEY DONT SEND YOUR BILL ON TIME AND…….! THEY CALL YOU WITH A UNKNOWN NUMBER AND DONT EVEN LEAVE A MESSAGE!!! THEY SUCK THIS WAS MY FIRST CARD AND NOW I DONT EVEN WANT TO GET A NEW CARD IF I CANT PAY A BILL IS JUST WONT GET PAID …… THIS IS A SCAM!!!!!!!!!!!!!!!!!!!

  25. ANDRE DEAN March 6, 2014 at 9:09PM

    OK WHY IS AM HEARING SUCH BAD THINGS ABOUT YA TELL ME SOMETHING GOOD ABOUT THIS BANK

  26. Ashley February 18, 2014 at 1:24PM

    Wow I just got this card after reading these comments about premier it makes it very discouraging to know how they really are. I’ve done payed the fee and everything now I don’t know what to do.

    • a.y.harrison April 1, 2014 at 11:33AM

      Ashley,

      Just make sure you make your payments on time and pay more than the minimum amount, do this for six month to a year, and apply for another credit card, once you get another credit card, pay them off and move on.

    • LSW April 3, 2014 at 7:49PM

      I think some people are overreacting. If you have bad credit you are going to pay more. With the limits they are offering, the interest really is not that high. The best thing you can do is spend wisely and pay your bill on time. I noticed that when I payed more than the minimum amount, I received a credit on my account. I do admit that if you miss a payment, they will lay on the fees.

  27. M.MORGAN February 10, 2014 at 12:58PM

    *BEWARE!* this place is really a scam! DO YOUR RESEARCH!!

    ***DO NOT GIVE THEM YOUR PRIVATE INFORMATION!!!*****

    $300 (limit) – $95 (process fee) – $75 (annual fee) – $20 (sneaky monthly maintenance fee) – $6.00 or 5% whichever is greater(cash advance transaction fee) – $35 (late fee) – $35 (returned item charge) – 36% APR of 300 is $108 = DO THE MATH! YOU WILL NEVER COME OUT HAPPY!

    i spoke to a woman.. a rude snotty bitch i might add! she instantly asked for my social which i politely declined (i never just give my SS# out without knowing more about the company) and she instantly changed the tone of her fake happy marketing voice ..she said with a attitude “okay fine” then proceeded on to the part where i must pay the 95 before i find out if i am approved.. gave me the guilt trip and said i will not find a deal like this! i laughed and said im not paying that for a 300 credit line..(keep in mind this was a lengthy phone call im just cutting it short lol) i asked her how this really helps build credit? she basically told me to pay the 95 and to find out my self and to stop making stupid choices like Ive made in the past to be in this position(HOW RUDE!)and would not let up on asking for my bank information, how im going to pay and social number again.. i told her no, just stop! this “offer” is bull shit. i feel bad for the people you con into joining. she then snickered “ugh so your not going to pay the fee? im going to cancel your account and you will never be accepted!” HA i said please do!! bye

    well i hope my experience prevents it from happening to someone else! AVOID THIS COMPANY DO NOT EVEN CALL THEM!

  28. Aaron January 26, 2014 at 6:16PM

    Wow, thanks you guys. When they accepted my application i got so excited. But before spend any money espically online, I always do a back grand check on the company. As far as building creidt goes they seem legitimate, but all those fees?!. I think I’ll try few other places before I try them. My main goal is to build credit. And I gotta start some where

  29. Rodger Rhone January 15, 2014 at 1:38PM

    This company is a predatory credit card company that takes advantage of people desperate for any kind of credit card. These people are scum. Their fees are comparable to a loan shark’s. Any card offers I get from them get trashed but I let them know they can Kiss MY Ass. Beware of these banks my friends.

  30. LW January 14, 2014 at 12:05PM

    Don’t go there!!!! Fees !!! Bad service. BS

  31. John Forrer December 11, 2013 at 10:09AM

    First premier credit card sucks!!! I never ever applied or received a credit card from this place but they continually call me telling me I didn’t make my payment, I didn’t make a payment because I didn’t get a credit card from them… Who in their right mind would even apply for a credit card from this place with a 36% interest… Don’t apply for credit with these people and if you already have a credit card with them cut it up…. How can they allow someone to apply, receive, and use a credit card with someone else’s identity?

  32. mv December 11, 2013 at 12:42AM

    These are not scams if you read it right there
    Giving you $300.00 credit application fee $95.00 technology you getting credit its not like your making Deposit of $300.00 down and they tell you to pay on time then you wouldn’t have to worry about interest .

  33. Fred R. November 9, 2013 at 12:36PM

    Received their solicitation today and burned it after reading it. It makes less sense than one of those Cash Advance places.

    • Rodger Rhone January 15, 2014 at 1:39PM

      Your exactly right, Fred. The trash is where these cards can go.

  34. John Mackey November 5, 2013 at 6:02PM

    I bought into the First Premiere system and totally regret the move. There needs to be someway that consumers are made aware of their tactics. But as the old saying goods, “Let the customer beware.”

  35. nobi2060 October 7, 2013 at 6:52PM

    These people are okay. But I know after the first year I want nothing to do with them. Pay your balance in full each month and don’t use more than 20% of your credit limit and you will be fine. After you start qualifying for better credit cards drop these guys seriously.

    • Jiz November 7, 2013 at 6:04AM

      That is exactly my plan! The intrest rates and annual fees are absolutely INSANE!!!!!

  36. Youniq August 23, 2013 at 11:12AM

    First Premier is in business to make money, period. Don’t buy into the “help build credit” hype. They prey on individuals with bad credit in order to make money. I agree with this statement this is a terrible company who really don’t disclose the true charges that you are going to be paying and that is to me a scam.

  37. Alex July 30, 2013 at 1:59PM

    Great job here bringing the truth! I have never personally dealt with First Premier Bank because I’ve never heard anything positive about them ….period! Even though it’s listed as a good card for bad credit, it’s still something you want to be aware of. At the end of the day it’s your credit so it’s always a good idea to keep a heads up for predatory lenders. Thanks.

  38. DRC July 25, 2013 at 6:45PM

    I have had this card for over a year, paid on time, and responsibly used. They told me I would be eligible for a credit limit increase on my 13th month of on time payments, and on my 13th month I applied for one. DECLINED. Instead they started billing me $20 a month for a ‘maintenance fee’ plus interest.

    I’m not blaming them, because I knew they were a high interest credit card to begin with, but, as soon as I get a few hundred bucks, I’m paying off and closing their card. VERY expensive, and hasn’t done jack to rebuild my credit. Waste of money, stay away!

  39. Robert Storm June 8, 2013 at 1:16PM

    I applied for this card and after being immediately approved, I was sent to the next step in the process which was their $95.00 processing fee. I opted not to pay the up front fee and closed my browser. Two days later I got a call from these people, trying to get me to pay them the $95.00. When I informed the woman on the other end I was not paying an up front fee, she actually tried to GUILT me into paying it.

    As it says in the article, the card may not be a “scam” but at 36% APR and the other fees involved, this card is not worth the time and effort.

  40. Mogul_Racer May 17, 2013 at 2:10PM

    This company is in business to make money, period. Don’t buy into the “help build credit” hype. They prey on individuals with bad credit in order to make money.

  41. Judie Lindstrom March 3, 2013 at 5:16PM

    stay away from these pigs..a credit report from these guys means nothing..

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