First Premier Bank (Centenial, Etc.) Worthless credit card, worthless company Sioux Falls South Dakota
I have been a customer with First Premier Bank for over three years. I have 2 credit cards (Centenial and Platinum) issued by them.
During the years I have been a customer, I have always stayed under my credit limit and paid my bills before the due date; usually more than the minimum due.
All this time I never requested and was never offered a credit limit increase (my current limits are $200 and $300.) I have been repairing my damaged, but not horrible, credit over the last year or so and have 2 other credit cards (Rewards660 and Aspire) with $1000 credit limits. I also have an HSBC and Total card with $300 limits, but they are newer.
My issue is that I am planning to pay off and close my low limit accounts in hopes of further improving my credit. Since the First Premier cards are relatively long standing, good accounts I didn't want to close them. I, for the first time, requested a credit limit increase and was denied; they say because of my credit history. But, they also say that they don't access one's credit report for limit increase requests.
This does not ring logical with me considering the fact that all my other cards are under the limits and are always paid on time also. During the next billing cycle, First Premier charged their excessive annual fees, and that, coupled with their other fees/interest put me a couple dollars over limit for the first time. Obviously, they were quick to add the overlimit fees as well. I didn't fight this because I take responsibility for my own balance and have since paid my accounts back under the limits.
I don't know if anybody is given increases from this predatory company, but I believe that I was denied just so they could charge me the overlimit fees. I plan to pay off these worthless cards and close the accounts. Please do not support this card issuer. Get an Aspire or Orchard card instead.
kjohn
Portsmouth, Virginia
U.S.A.
2 Updates & Rebuttals
Mrsnews
Logan,Utah,
U.S.A.
How I got my increase
#3Consumer Suggestion
Thu, March 06, 2008
I have two cards with First Premier Bank as well. (I picked them because their start up fees were about half of what Orchard was going to charge me.) I've only been late once, as well, and I called to let them know what was going on. They waived my late fee for the card I was late on and were very cooperative.
If you kept your contract with them when you received the card, it clearly states that every 6 months they will review your account and if you have paid on time and have been a good customer they will consider you for an increase in your spending limit. When I initially called for an increase in the limit of one of my cards, they gave me a hard time. So I sent in a copy of what the contract said and told them that they are required to consider raising my limit based on my history with their bank. I did get an increase in my limit.
Melissa
Latrobe,Pennsylvania,
U.S.A.
Helpful Information
#3Consumer Suggestion
Sat, February 23, 2008
Hello KJohn,
I am currently rebuilding my credit and I have learned so much from reading a forum online.
Hopefully I can help you out a tiny bit. In addition to have credit history, the percentage of card utilization is very important. Credit card companies and lenders like to see utilization around 10% of your limit. If you are keeping a balance close to the limit, it looks bad on your credit. For example, if you have a $300 limit card, you should only charge around $30 a month and pay it off right away in order to have it boost your credit score, likelihood of approvals of new credit and credit limit increases. More than 10% utilization makes credit companies nervous that you will not be able to pay.
Good luck!