This company offers a credit card under the guise of repairing your credit. I have had this card for approximately a year, and they have in fact reported to my credit file. That is the only good thing I have to say about them.
Most repair card companies will offer you a card with a small beginning limit, then run it up before you even get the card leaving you with a initial credit amount of $50. This is normal, and I can live with that. I did not get the card to use it, just to fix my credit.
Now the bad:
They will hold your payment after they receive and process it for 8-10 days before releasing it to your available limit, even after they have received the money from your bank. If they happen to charge you an "account maintenance fee" while they are still holding your payment, they will charge you another fee. This will lead to another fee. I have never been late with a payment with this company. Now even though my payments aren't late, they still count it as late because they hold your money for 8-10 days after the bank has paid them. They dont apply it to your account, adding up "over limit fees" and "late fees". That is in addition to the outrageous term fees they already apply for "account maintenance".
You will not be able to pay down your account due to this scheme. It's all perfectly legal of course, and they know they now have you in a trap.
Do not apply for this card. Do not accept this card. They are deceptive from the beginning. If you have a card with them currently, I suggest you bite the bullet, pay it off and find another company. First Premier Bank is the same type of lender, but more reasonable.
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