First Premier Bank
First Premier is "Worst Nightmare" Sioux Falls

Rather than reiterate what hundreds of others have already said, let me just leave a few "Keywords of Caution" about this colossal rip-off entity known as "First Premier" Bank. It is obvious this "bank" makes its profit from its exhorbitant fees for just about everything under the sun.

Excerpted from a confirmation of application letter I received from them. I am 20 years old and have minimal debt and no prior credit. It's anyone's guess what these first three unintelligible paragraphs are trying to say:

Thank you for applying... We are modifying the terms of our initial offer. The decision is based upon the following reasons:

"Based on information from a credit scoring system, the principle reason for adverse action includes: Too FEW revolving accounts NEVER delinquent in the past 6 months, OR Total number of bankruptcy trade-lines ever is LOW.

We still want you as a customer and are committed to offering you a First Premier Bank Mastercard with a 9.9% APR on all purchases!

[The rest of the letter goes on to enumerate FEES and more FEES. Example]:

By signing you have agreed to these FEES, rates, costs, limitations, etc...[and] your initial credit limit will be $200.00. A total of $150.00 in FEES will be billed to our first statement. Your available credit will be $50.00.
Processing FEE for extending credit to you is $29.00. This is a finance Chrg.

On the other side the rest of the outrageous FEES are listed:

FEE incurred ea time account receives a credit limit increase: 25.00
Copying FEE; 3.00 ea item
Internet Access FEE: 3.95
Wire Access FEE: 5.00/transact.
Autodraft paymts. Made via phone or internet: FEE= 11.00 ea pmt
Lost, stolen card: delivery FEE for new card 25.00
Late PENALTY for payments past due two cycles in a row increasd to 19.9%
Monthly Service fee EACH month 7.00
Cash Advance FEE - whichever is of $5.00 or 3% of amt. Being advanced
Acct Maintenance FEE/$3.00 for accts. Closed w / amt. = or 20.00
FEE for paying Late or Exceeding Credit Limit 29.00
FEE for transactions in Foreign Currencies 1% of the transaction amount
ANNUAL FEE: $0.00 the first year, and EACH YR. Thereafter 49.00

For anyone considering this insane joke of a "bank, " run as fast as you can, tearing the "acceptance" letter - er, testament of FEES - into ribbons as you go. Watch them float into the cosmos which is where all things "out of this world" belong.

Company: First Premier Bank
Country: USA
State: South Dakota
Address: 3820 N. Louise Ave
Phone: 8669495800

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