Got a call from someone at First Premier Bank while I was. He said I was in arrears for 30 days and I would have to pay them the full remaining balance of $150 or go to collections.
I had gotten a "secured" credit card, which I thought was going to be pretty straight forward. I make small purchases on a card with limited credit limit, pay the balance on time and establish good credit.
So I was surprised when I got my first balance and it said I owed something like $200!!! Apparently, it was due to "fees".
This left $50 on the remaining credit limit.
I said, fine, that must be how they are working it; they charge me a lot, I pay it back, then it works like normal.
So I made 2 $20 monthly payments.
Then the guy calls up during a call at work and I asked the person if I could put her on hold. She later dropped from the wait.
I told the First Premier guy that I had received two invoice and I had paid them both and I had not received any others.
Anyway, the guy threatened me with collections and said that they could withdraw money right out of my checking account, so I should pay. I said fine and he withdrew funds.
I then asked him if this would then catch me up and I would no longer owe any money. He said no. This would pay me up until February, when another $20 charge would be added. I said, what???
He said that every month I would be charged $20 and that is the way I could gain better credit.
I said, no freaking way. I told him to cancel my card. He said that was fine and that I should have read the fine print before signing.
Uh, no shit. Of course, who in their right mind reads 14 pages of online text looking for loopholes and scams from a legitimate looking company???
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