Its funny how life hits you. One day, while scanning my credit report I found a credit card (First Premier Bank) that I didn't own. At first, I thought the worst, and started to file a dispute to the credit bureaus. Then I thought, I'll ask my wife first to see if she knows about this account. Low and behold, its a credit card from before we were married that she (unbenounced to me) added me to as an authorized user. Now keep in mind, I've been a mortgage lender for 9 years now, and know my fair share about credit... I immediately went to my bank and took out a small personal unsecured loan to pay the card off with.
In the meantime the card (which had been cancelled by customer), for the past year was supposed to be closed and not gaining intrest, according to the rep my wife spoke to with First Premier. However, it had gained intrest to the tune of 29.99% compounded daily, followed by a eye poking $150.00 annual fee. Like I said, I took out a loan to pay it off as quickly as possible, had my wife cut a check for $38.00 over to cover the per dium and went about my business.
I get a statement in the mail today from First Premier showing the payment for $38.00 posted to the account, but not the loan check, which was in the same envelope. I called and spoke to a rep, who said she didnt know why it wasnt posted, was patched over to a "senior" person (Sara) who curtly told me that the check was missing banking information. Now, when I did this loan I went ahead and consolidated 8 other accounts into this new loan, and all other 8 accounts posted my checks without any issue or question. Not First Premier, they said there was banking information missing, and didnt know what information it was.
The check was sent back, but I was told would take about 30 days to get to me. Now I've heard of snail mail, but thats a little excessive since I was told that it was mailed out on Feb. 25 I should expect to see it around mid to late March. First Premier of course will not waive any late fees or intrest on the account even though they sent back a perfectly good check.
Just so you know what kind of customer service they have I will quote the "Senior" rep Sara; "We've only charged you $8 to date on the account, its not like we're charging you $60.00 or something." to which I replied $8 is more than you should charge for a payment you intentionally would not process. I personally sent the check, I know there was nothing wrong with it. Sara's reply was "It's not like we sent it back and said HAHA, here pay some more intrest!". Funny, seems that way to me.
Regardless, they will never get my business, and every client I meet that has an account with them will be immediately told to pay them off! And luckily for me, I deal with subprime lending and get to see thier lousy name come up at least once daily.
To all who consider an account with them, I tell you: Beware they are no better than a common thief! I know the truth now and hope you heed my warning.
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