- Centurion Member
- Posts: 1069
- Joined: Thu Aug 04, 2011 7:07 pm
- Location: Phoenix
Because of CARD Act, the fees (for the first year at least) cannot exceed a certain percentage of the initial credit line.
I figure the fees are the price for having bad credit. A consumer should look for other options such as a secured card or they have to pay the fees to play again. At least First Premier has a grace period. Check out Credit One Bank and Applied Bank...neither offer a grace period so once you swipe the card for a purchase, your account gets hit with interest charges. That is pretty low. Credit One is even lower because they changed their name and logo to look very close to Capital One. Many people have opened a Credit One account thiking that it was a Capital One account. And although Capital One has some pretty dismal credit cards, they look pretty good compared to First Premier, Applied Bank and Credit One Bank.