Another victim! My husband is trying to re-start a credit file, and no one wants to lend to someone with no credit history. He has been turned down several times for no other reason.
Most companies that might approve him want up to 30% interest when you can only get 5% interest on a time deposit. Along comes First Premier Bank with a pricey - but possible - offer. Despite the huge fees, it looked like a long awaited way to build credit. So we sent in our application with the $9 processing fee drawn on my bank account.
2 weeks later, he gets a letter back from First Premier Bank congratulating him on being accepted, but reminding him that he needs to send them a check for the $9 processing fee. He called them back today, Sep 2, and the customer service representative was not at all helpful. She accused him of not putting the check in the envelope. She SAID that if they found the check, they would, of course, post it to his account. She REMINDED him that they were helping him REBUILD his credit. There was no resolution, so he hung up.
My husband wanted to give them another week to find the check, but I was suspicious. It occurred to me that they certainly had the check because it was in the same envelope as the application they admit to receiving, and that this leaves my check (read: banking information) in limbo. I can't prove receipt because it hasn't cleared my account, and if I send them more money, it might not "get received" either. Further, they have my bank, account #, and signature. They COULD try to slip through much larger charges at any time.
So I checked them out online. And, boy am I glad! Because of your information, I have placed a stop payment on my check, and a fraud alert on my account for anything from First Premier Bank. It's costing me $15, and a lot of aggravation, but you may have just saved our financial lives.
Thank you, consumer complaints. If an attorney is interested, please send him my information, but not the media. I hope action is taken, and that everyone gets their money back.
BTW: Does anyone know a GOOD credit card company for someone with no credit?
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