First Premier promotes itself as being a way for people to rebuild/re-established damaged credit. What many are not aware of is that First Premier Bank does more damage to a persons credit than it does good.
These are some of the common practices of First Premier Bank that I have experienced.
Monthly charge of a "Particiapation Fee" as well as the annual fees.
Regular usage of finance charges and other miscellaneous "fees" to push you over the assigned limit so that they can also assess "overlimit fees".
Telephone harassment for payments less than 30 days late.
Regular inquires of your credit report. Each time a creditor inquires into your credit report for any purpose other than regular reporting, it counts as a point against you on your FICA score. Credit inquires stay on your report for at least two years. Why the constant inquires??? No changes are being made to the account.
Fees to access your account on-line, make on-line electronic payment or make a check by phone payment. Late fee assesses if payment not received on or before 2 P.M. On due date.
I am paying off and closing my First Premier Credit Card accounts. These penny-ante charges will eat you alive... You will never get ahead.
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