Buyers Beware: First Premier Bank Platinum Credit Card Payment Policy
Credit-Building Credit Card Has Delays in Available Credit to Customers in Good Standing
First Premier Bank has a written security clause called Payment Verification in the payment policy which halts customer's available credit for a minimum of sixteen days after payments have been received and deducted from the remaining balance due.
When a local bank employee was asked what the normal amount of time for a Payment Verification process was, she asserted that two or three days was common and that an amount of fourteen was surely not realistic. The clause, in its entirety or even in part, is only mentioned one place- the back of the written, mailed bill in very fine print.
There are numerous ways to pay on accounts, most of which does not require the customer to have even seen the paper bill. On the back of the First Premier Bank Platinum credit card is the website address and phone number of First Premier Bank. If a customer uses either of these two ways to contact and make payment, then the customer does not come in contact with a possible chance of finding the notice!
For one of First Premier Bank's Platinum credit card customers, this was a double smack because she had paid the balance in full and plus had a three dollar credit- all before she had received her first bill. She says, "I just wanted to raise my credit rating and gain some credit history, so I tried it out. I fell I got gypped because the web page that I made my payment at said it would post the same day because it was before 3:00 PM, Thursday. When it didn't post the next day, I called and was told my account had to go through a security process to ensure their payment. The man said many others had to go through this also and that I was warned on the back of my bill that it could take twenty or more days to receive credit. I feel I was mislead about the payment procedure at First Premier Bank. I hope not to find any other surprises."
First Premier Bank Website Address is http://www.firstpremier.com/
Published by Daisy May
Mother of three adult children, wife of twenty plus years. Recently entered Ashford BA program for Journalism and Mass Communication. View profile
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89 Comments
Post a CommentCredit is another word for Slavery. Stop using it, save the USA!
lol, Mike in New Mexico, I'am sure you understand that the other Credit card companies do not use other peoples hardships to make a living !! No matter how irresponsible you might think we are ....Its just wrong !! Thanks for your comment on there part , but to me it's kind of like these used car creditors,and the check cashing places that are popping up everywhere that are taking the people for everything they don't have , if u take a person that's already struggling and take them for more that they don't have !!! that is using peoples lives as a pawn in there "get it while its hot game" AND YES New Mexico .......they do do it !! So bend over America....because according to Mike "it's only our own faults" not the economy or because so many people have lost there jobs or we are living from paycheck to paycheck because it takes all of our income to pay for freaking GAS to get back and forth to work , most of us are trying to be responsible Mi
I had 2 of First premiers cards one of them for several years , while trying to build my credit , I finally got rid of them both , they were costing me more money than they were helping and they were always behind and charging me excess fees , didn't help me a bit,as a matter of fact in the long run , probably hurt more , wish I had of read this report years ago! Thanks for the good advice..........Consumers Beware...Rip-offs !!.....Susie
I THINK IT IS A OK CARD
My wife and I recently received Platinum Visa offers from these crooks. I had no intention of taking then up on their offer, but I thought it would be interesting to read the fine print. The $150 annual fee floored me, and the 36% (yup.. THIRTY-SIX PERCENT) APR kept me down for a while. The there were fees upon fees upon fees. I particularly liked their Credit Limit Increase Fee. It wouldn't be so bad if the cardholder ASKED for a limit increase, but that's not the case. If FP decides that you want an increase yo get the increase.. and a fee amounting to 25% of the increase amount. Long story short.. I mailed back both 'Business Reply' envelopes with instructions telling them exactly where to stick their offer.
If the negative comments represent the majority of Americans, then we're in for some bad times. Like myself, the card is sent to those with BAD CREDIT. Most offers from other companies have 19% APR. FPB has 9%. That's less. To improve your credit, FPB wants you to invest 170 bucks first. Then, one should use it sparingly and in small amounts but mainly keep it in the postive balance. So don't overspend YOUR limits NOT the card's limts. In time it will help improve your credit score. because using credit responsibly always does. It is a card with restrictions and penalties. Why? Because you blew your first chance on credit. We all have to pay for screwing up. Don't blame the company for giving you a steep second chance. And all good things take time and work. if you can 't grasp the concept of credit still, consult debt councillor
I have had my card now for a year. I pay my monthly fee of $11 then yesterday I see they charged me an annual fee as well of about $114!! outrageous! Wish I would have read the fine print closer...
I will say this........If you read up on the card it tells you each and everything they will do to you if things are not paid on time and how many fees are associated with it. I agree that 59 percent interest is insane, however if you didnt screw your credit so badly you could go apply for a good credit card with low interest. I have the 59 percent interst card. I read all of it closely! I make sure I pay my payments almost as soon as I use my card I do a payment. I havent had many issues with it. All I have to say is to build credit it is helping, I know how crappy my credit is so I know not to expect a good credit card. If you dont want all the fees associated with this card dont apply, if you have no intentions of paying them on a timely manor dont apply it will only make your credit worse. If you want to make payments on time and before the interest would become a factor and you read all the fine print, you will have no problems with this very bad credit card. Once you get some go
I have this card and I have np problems because I pay the full amount owed before I get the bill. I never charge more than I can pay off the next month . The interest rates are pretty low when I see that most are 18% . Basically I pay my bill on time so I have no problem and can not understand why some people do.
I Just called today because I my account was accidentally over Paid.. The payment was already posted to my other account and they treated me like i was retarded! they told me to place a stop payment on the payment after i repetedly told them it had already HARD POSTED to the account! I work for a bank!! I'm NOT STUPID I explained to them.. Then I asked to speak to a supervisor and the supervisor went along with what the first lady had said which was place a stop payment. YOU CANT PLACE A STOP PAYMENT ON SOMETHING THAT HAS ALREADY HARD POSTED TO AN ACCOUNT ITS ALREADY FULLY PROCESSED!!! Anyhow... I Closed that account today! I'm sick of being treated like I'm a moron first of all and secondly I'm sick and tired of the RUDENESS FROM THAT COMPANY!!!!