Complaint Review: First National Credit Card - Legacy Visa

I agree with complaints about First National Credit Card's "Legacy Visa." The fine print alluded to start-up and processing fees for this card, which extends $250 worth of credit. I expected fees of $50 to $100, maybe $150; but the first bill from the company, even before the card was activated, was for $200! At payments of $30 per month, it would take six months for a subscriber to use the card, at all. I understand its value in establishing, or repairing credit, but do not see that as the company's intent. Rather, it is obviously a means for First National Bank, in Sioux Falls, to make a great deal of money in a very short time. That, of course, is their prerogative and, for them, successfully lucrative.

Two other factors disturb me. (1) The one and only time I attempted to use the card -- for a $19 purchase -- it was denied. I have no idea why. (2) Making payments is inconvenient: there is no mechanism for electronic funds transfer from my bank to the account, no way to arrange automatic payments, and payment is limited to mail-in or money-wiring.

Finally, I attempted to cancel the initial credit application, realizing that the terms had not specifically itemized the amounts of start-up and processing fees. It was too late. There was no phone number to contact, and instead of any "convenience" at all -- I had incurred an immediate debt almost equal to the credit line offered.

All in all, this card might offer advantages to some. For me, it has been an expensive hassle.

Judy
Yakima, Washington
U.S.A.