• Report: #347648

Complaint Review: Premier Bank Card

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  • Submitted: Sat, July 05, 2008
  • Updated: Sat, July 05, 2008

  • Reported By:Los Angeles California
Premier Bank Card
3820 N. Louise Ave Sioux Falls, South Dakota U.S.A.

Premier Bank Card misrepresentation abuse exorbedant charges unresponsive Sioux Falls South Dakota

*Consumer Comment: RE:

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In late 2007, I received an email offering me a Premier Bank card which promised to help build and correct a person's credit history. I ordered the card but within minutes decided I did not want the card. I called and a representative made several promises assuring me that for a fee of $250.00 which could be paid over a period of months, I could obtain the card which would both offer convenience and enhance my credit report.

I was able to charge a little more than $100.00 but on my next billing statement appeared a charge for exceeding the card's credit limit (what the representative failed to disclose was that the initial limit on the card is $50.00 until the $250.00 charge is paid in full). I called the company and spoke to a representative who told me that the charge for exceeding my limit must be paid in addition to their monthly fee and a portion of what is due to payoff the $250.00 charge needed to secure the card.

I sent the company an email asking that they cancel the card and provide a statement of what I actually charged, what I paid, and asked that itemize all additional charges. A few week later I received a letter advising me that they had reported me to 3 credit reporting companies and that a request was submitted to each that my account be coded as a charge-off (unable to procure money due on a collection account). I wrote a letter to the representative whose name (initial of first name and entire last name) appeared on the form letter. I stated that I cancelled the card via email and told them that unless I receive a statement itemizing their charges and my payments, I would be forced to report their company to the state attorney general's office.

What I received was yet another bill with no acknowledgment of my letter. There is no reference to my past payments. Furthermore, the $250.00 has now increased and my new balance is $446.24. The company states that I owe $25.00 pluses the past due amount of $125.00 plus $196.24 for "amount over the limit." The minimum I can pay is $346.24.

Avoid a card for First Premier. It is better that you continue using cash rather than embroiling yourself further what is a predatory company whose efforts are to exact money from people who fail to first investigate the company and who fall prey to this company's deceptive practices. Their failure to respond to a person's requests attest to their dishonest and reprehensible practices.

Los Angeles, California

This report was posted on Ripoff Report on 07/05/2008 07:48 AM and is a permanent record located here: http://www.ripoffreport.com/r/Premier-Bank-Card/Sioux-Falls-South-Dakota-57107/Premier-Bank-Card-misrepresentation-abuse-exorbedant-charges-unresponsive-Sioux-Falls-Sout-347648. 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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#1 Consumer Comment


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

You need to understand that these types of cards are traps that are specifically designed for you to fail, not succeed. They make way more money by getting you in a position to go over the limit with their exorbitant hidden/trick fees.

If you just sit on this and ignore the situation, it will get worse for you. They'll just continue to tack on their exorbitant fees until you owe over $700...

It is critical that you keep all communication in written form and sent via certified mail + return receipt. (very important). As horrible as it may seem, you'd be better off paying this $346.24. If you do, send a letter to them via certified mail + return receipt confirming that the account is closed. If you don't, they'll just keep the account open and accruing fees.
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