• Report: #435723

Complaint Review: First Premier Bank

  • Submitted: Thu, March 19, 2009
  • Updated: Sat, January 02, 2010

  • Reported By:Morrisville North Carolina
First Premier Bank
firstpremier.com Sioux Falls, South Dakota U.S.A.

First Premier Bank Paying off Credit Card Balance Sioux Falls South Dakota

*General Comment: simple? are you serious

*UPDATE Employee: Call them

*UPDATE Employee: Call them

*UPDATE Employee: Call them

*UPDATE Employee: Call them

*Consumer Comment: Use Bill Pay

*Consumer Suggestion: Here's the best way to pay it off.

*Consumer Suggestion: Or....

*Consumer Suggestion: complain to the state ag

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I made the mistake of signing on with First Premier about 5 months ago when I got a pre-approved offer in the mail. The choice was dumb but I was very hard-up at the time; I didn't realize my mistake until it was too late. I'm only 20 and still learning about these things.

I currently get about 15 calls a day and 10 voicemails from these people. It is usually because I have scheduled my payment and they do not mark the account. I have gotten calls claiming I'm late when I have already scheduled a payment to go through days before the due date. The interest constantly puts me over the limit even when I make more than the minimum payment and then I get a call demanding immediate payment to bring the account back down. I then get hit with an overlimit fee the NEXT billing cycle which starts the process all over again.

I actually cancelled the card in the middle of February because I was so tired of everything. At that point, I stopped receiving statements in the mail. With this card, the only way to pay without some sort of processing fee is to mail your payment. I did not want to mail a payment without a remittance slip. In addition, I did not want to make a payment without seeing a statement of charges. Everyone that I have talked to about this matter have been very rude and condescending. Every time I call them, the story changes about how much I owe and what kind of fees are on the account.

I am worried now because I am in a postion to pay the card off and want to end this nightmare for good. I have been reading other consumer rip-offs and the biggest problem seems to be with paying the balance in its entirety. Since they do have all these fees that post on the following bill cycle, what is the best way to close out this account. I have already experienced them trying to avoid telling me about fees so that they can collect overlimit and late fees. I am afraid I will never get out from under this poor excuse for a credit card. I am going to be very careful to document all my dealings with them from now on. For anyone looking into this card, make sure you do your research.

Ashley
Morrisville, North Carolina
U.S.A.

This report was posted on Ripoff Report on 03/19/2009 02:41 PM and is a permanent record located here: http://www.ripoffreport.com/r/First-Premier-Bank/Sioux-Falls-South-Dakota/First-Premier-Bank-Paying-off-Credit-Card-Balance-Sioux-Falls-South-Dakota-435723. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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Updates & Rebuttals

#1 General Comment

simple? are you serious

AUTHOR: soundcheck07 - (United States of America)

If you get a card that, by default, is already 71% maxed out before you ever use it, then how can you preach to keep your balance less than 50% of your available credit?

Sure, its all in the TOS.  That's how it is legal. 

What makes it a scam is the completely unethical and deceptive tactics used by this company (and others like it) to lure those in financial distress into signing.

Let's face it-  if you are good at managing your finances, then you will POSSIBLY have a chance at keeping a card like this in good standing.  HOWEVER, these cards are not marketed to people with good credit.

So why is a system that is designed for a sub-prime market governed by regulations that would keep even the most studious accountant on their toes?  Because the percentages hold true:  those with bad credit skills are likely to have problems, which then delivers the profit margin known as FEES.  And they justify this behavior by saying that all of the fees are there because you are a high-risk to them. 

BS- they market to high-risk BECAUSE you are high-risk.  They stand to make the most money off of the people who will eventually screw it up.  They count on you screwing it up; that's where the real money is.

How is it a scam?  Because this, and other companies like this, do the following:

1)  Bait the trap with deceptive marketing tactics and an offer too good to refuse for those in need and in desperate financial circumstances.

2)  Hook you with the contract that you "should have read fully"- btw, if a person is looking at losing their car if they don't make a payment in a week, it stands to reason that they might tend to overlook the details of the contract and just go for the quick-fix.  Chalk it up to human nature.

3)  Wait in the foxhole for you to make a mistake (which is exactly the profile of the high-risk person they market to)

4)  Pounce on you by creating "fee-feedback"- a loop that is hard to get out of once you initially make the mistake.  By the way, when you pay as much as you can to "bring your account current," it is usually not mentioned that there other fees that haven't posted to the account yet and as soon as they do it will send you back into over the limit status therefore causing another fee that will sit unaccounted for until the next bill because you didn't know it was there in the first place.  Fee-Feedback loop.

Now, if you think that is ethical behavior for a company that's mission statement claims they are there to help you, then maybe you should be an employee.

PS- In the past, I have been a victim of several of these scams.  No matter what company it was, I have been insulted, belittled, teased and made fun of by the operators when trying to rectify a mistake.  Have you ever been at risk of loosing your home or car and then, when you try to get things on track, have the people on the other end ask you "Well why did you sign up for this card if you didn't have any intention on paying for it?"  Listen you bleeping-idiot, I didn't call you for you bleeping opinion and smart-a*s highschool attitude.  I called you so I could fix my problem.  Either help me fix it or get me someone that can, but don't insult me.

The last time it happened for me was 6 years ago.  I finally got out of the loop.  I have since cleaned my credit up and those past mistakes are about to drop off the report- good riddance.

It funny that the only way I was able to clean up my credit was to finally get rid of these scams that were preying on my youthful ignorance.
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#2 UPDATE Employee

Call them

AUTHOR: Purtyflower - (U.S.A.)

All you have to do is call customer service and they will give you your current balance. The fees only assess once a month on the billing date. So the balance they give you is current and up to date. Call them, cough up the $11 to pay over the phone, pay the balance, and close the card.

Or keep it open and don't get so close to the credit limit. Just because you have the balance available doesn't mean you should use it. Balances are also reported to the credit bureaus and you should try to keep your balance under fifty percent of your credit limit.

Fees are only assessed to the account if they are applicable. You can control when you send your payments, how much you send, and if you go over the credit limit or even get close. If you don't handle the account in the correct manner, you are only hurting yourself and costing yourself money. You have the control... use it.

Simple.
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#3 UPDATE Employee

Call them

AUTHOR: Purtyflower - (U.S.A.)

All you have to do is call customer service and they will give you your current balance. The fees only assess once a month on the billing date. So the balance they give you is current and up to date. Call them, cough up the $11 to pay over the phone, pay the balance, and close the card.

Or keep it open and don't get so close to the credit limit. Just because you have the balance available doesn't mean you should use it. Balances are also reported to the credit bureaus and you should try to keep your balance under fifty percent of your credit limit.

Fees are only assessed to the account if they are applicable. You can control when you send your payments, how much you send, and if you go over the credit limit or even get close. If you don't handle the account in the correct manner, you are only hurting yourself and costing yourself money. You have the control... use it.

Simple.
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#4 UPDATE Employee

Call them

AUTHOR: Purtyflower - (U.S.A.)

All you have to do is call customer service and they will give you your current balance. The fees only assess once a month on the billing date. So the balance they give you is current and up to date. Call them, cough up the $11 to pay over the phone, pay the balance, and close the card.

Or keep it open and don't get so close to the credit limit. Just because you have the balance available doesn't mean you should use it. Balances are also reported to the credit bureaus and you should try to keep your balance under fifty percent of your credit limit.

Fees are only assessed to the account if they are applicable. You can control when you send your payments, how much you send, and if you go over the credit limit or even get close. If you don't handle the account in the correct manner, you are only hurting yourself and costing yourself money. You have the control... use it.

Simple.
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#5 UPDATE Employee

Call them

AUTHOR: Purtyflower - (U.S.A.)

All you have to do is call customer service and they will give you your current balance. The fees only assess once a month on the billing date. So the balance they give you is current and up to date. Call them, cough up the $11 to pay over the phone, pay the balance, and close the card.

Or keep it open and don't get so close to the credit limit. Just because you have the balance available doesn't mean you should use it. Balances are also reported to the credit bureaus and you should try to keep your balance under fifty percent of your credit limit.

Fees are only assessed to the account if they are applicable. You can control when you send your payments, how much you send, and if you go over the credit limit or even get close. If you don't handle the account in the correct manner, you are only hurting yourself and costing yourself money. You have the control... use it.

Simple.
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#6 Consumer Comment

Use Bill Pay

AUTHOR: Vorless Darkchaos - (U.S.A.)

You Can Pay for your bill from your checking account and there would be no processing fee
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#7 Consumer Suggestion

Here's the best way to pay it off.

AUTHOR: Nikki - (U.S.A.)

Take your balance. Add all the interest from your last statement. Add an overlimit fee (if you were overlimit on your statement). That is the best way to pay it off. You will probably have a small credit they will owe you, but that is the best way to pay it off.

Not that I condone having a credit balance with them, but unless you are a math whiz, you are better off. And, no offense, but you are probably not a math whiz since you keep having an overlimit fee.

Or, you can pay the balance plus the interest, and not pay the overlimit fee. However, make sure if they charge you an overlimit fee next statement (for being overlimit this month) that you pay that. Then, the following statement will probably have interest on the overlimit fee from the statement date to the payment date. Then the following statement will probably have interest on top of the interest from the statement date to the payment date, and so on. Gets confusing.

The best way to pay it off is not to call and ask. They will merely give you the balance of your last statement. That will not include the interest from your billing date to the payment date, nor will it include the overlimit fee, and you will find you will still owe those amounts next month.
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#8 Consumer Suggestion

Or....

AUTHOR: Benn - (U.S.A.)

Here in Wisconsin the department is called the financial affairs division. They regulate banks and debt collectors. Most everything can be done online for Wisconsin residents. I am assuming the same idea can be found in your state. Like the last poster said, get the state agency that handles these issues involved.
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#9 Consumer Suggestion

complain to the state ag

AUTHOR: Dave - (U.S.A.)

first premier had to agree to pay back 4.5 millions in a settlement with the ny state attorney general office in 2007. they don't do business in ny anymore i believe. complain to your state's ag office and make them pay.
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