First Premier Bank

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joem789
 
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Joined: Thu Aug 04, 2016 12:59 am

First Premier Bank

Postby joem789 » Thu Aug 04, 2016 1:09 am

Hi. This is my first post here. I appreciate all the good information posted here. It has been helpful so far.

I recently began rebuilding my bad credit after receiving offers from Capital One. It prompted me to look at my credit report. My score was 600+. And thats only because I keep my student loans paid on time. Anyway. I got two unsecured Capital One cards, each with $300 limit. So I am working on learning the credit "game" and how to use cards to raise the score at least. I barely use the cards and keep them paid in full each month. Although I just completed the first month with them.

The reason I am posting here is because I had also gotten an offer from the notorious First Premier Bank. For their Platinum card. Knowing about the bad reviews and shady practices, I went ahead and applied and got approved for it. I received the card but have not sent in the fee or activated anything. I am trying to decide whether to tell them to just cancel it. Or to basically use the card without charging a penny on it. I am mainly worried about them throwing fees on there from month to month for no apparent reason. Can I at least trust this company enough to use the card to bump up my overall credit limit for building? Or should I cut the card, and run like heck? What do you think?


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CarefulBuilder14
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Re: First Premier Bank

Postby CarefulBuilder14 » Thu Aug 04, 2016 1:01 pm

I would absolutely avoid them and close the account. There are many better options, including secured cards. There are no-fee secured cards that don't even pull a person's credit, so no informed customer should ever choose FP.

Exactly how to close it and make sure the CSR follows through, rather than leaving it open against your wishes to accumulate fees, I'm not sure. Other people will have to help you there.
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Vattené
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Re: First Premier Bank

Postby Vattené » Thu Aug 04, 2016 4:45 pm

I agree with CarefullBuilder, especially if you'll have to pay an annual fee for this account. I don't have any direct experience with them, but just based on what I've heard I would avoid them like the plague. You already have accounts with Capital One. Your current accounts will help you build credit, so there's really no need to even risk it with First Premier.
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joem789
 
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Joined: Thu Aug 04, 2016 12:59 am

Re: First Premier Bank

Postby joem789 » Thu Aug 04, 2016 5:00 pm

Thanks for the advice. I called them today and basically got put through a bunch of recorded prompts. I intended to press on until I was able to get a human. But the recording told me that I had until Oct to send in the annual fee or the account would be cancelled. So that leads me to wonder whether I can trust them to cancel it.

Tubpbs
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Re: First Premier Bank

Postby Tubpbs » Fri Aug 05, 2016 2:29 am

joem789 wrote:Thanks for the advice. I called them today and basically got put through a bunch of recorded prompts. I intended to press on until I was able to get a human. But the recording told me that I had until Oct to send in the annual fee or the account would be cancelled. So that leads me to wonder whether I can trust them to cancel it.


I would NOT rely on them to cancel the account. I would also plan on paying them the annual fee, unfortunately.
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