- Report: #1076652
Complaint Review: First Premeir Bank - Select State/Province
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First Premeir Bank
Sioux Falls, SD 57117 Select State/Province, USA
Phone:
8009875521
Web:
mypremierbankcard.com
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First Premeir Bank First Premeir Bank Card Credit card predatory lending Sioux Falls South Dakota
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First Premier markets itself as a chance to rebuild your credit, truth is they are out to take advantage of those who can't get a mainstream VISA/Mastercard. They start you out with a low limit and then just about max your credit limit before you even receive your card. Everything you do generates a fee. Log into the website so you can monitor your card? Thats a fee. Want a credit incrtease, thats a major fee. Anual fee for the card, $250 bucks up front for processing your app and the list goes on. They are also slow to give you credit on your payments. I paid online on a thursday, money was out of my account on Friday credit wasn't available for 10 days( a third of the billing cycle).
I would suggest finding a bank (PNC) that does secured credit cards where you put the money in a savings account and use it for colateral. Its just as affordable and you get your money back after a year where as with First Premier they will bleed you every chance they get. They say it's because it's high risk but where is the risk when you have a 300 dollar limit and they collect more than $300 before you ever get started???
2 Updates & Rebuttals
coast
Florida,Pay the Piper
#2Consumer Comment
Sat, August 17, 2013
The fees are outrageous but they are clearly stated on their web site. You accepted the terms when you opened the account.
So, as mentioned by the previous commenter, suck it up until you clean it up.
Tyg
Pahrump,Nevada,
YOU ARE THE RISK!!!
#3General Comment
Sat, August 17, 2013
Maybe someone didnt explain credit to you correctly. But be it $300 or $1. Your credit makes it RISKY for them to do business with you. For whatever reason your credit is in the shape its in, for them to do ANY business with you is considered risky. Every credit building card has the same level of fees. If you think they dont, then you are just being silly.
YOU are the high risk. ANYTHING you do given your credit history has the potential of costing this company money. The fact that they even work with you is an amazment in itself. So suck it up buttercup!!! Be happy that you have a chance at fixing your credit this way. The alternative is years and years of payments. So youre getting charged, thats just the cost of re building your credit. If you dont wish to be charged, get your credit back in order and you can leave this company behind.
Oh and as for "where is the risk?" The answer is even simpler. Its you. They have no idea if you are going to do to them whatever it was that caused your credit to tank. Such as non payment. Bailing on fiancial obligations ect. So in essence you are bashing the only ppl who will help you by putting a negative post up about them because your butthurt over charges they have to charge in order to continue helping you. Yea youre the smartest cookie in the jar....
