Report: #430185

Complaint Review: First Premier Bank

  • Submitted: Tue, March 03, 2009
  • Updated: Mon, March 15, 2010
  • Reported By: Bonita Springs Florida
  • First Premier Bank
    Sioux Falls, South Dakota

Show customers why they should trust your business over your competitors...

I received in the mail a simple application form and on it it says you are pre-approved for a masterCard, just call the 800 number. I called and the process seamed normal, they even say hold a minute to be sure you are approved. Yes you are approved. This is great right? Then you get the card and it has a $325.00 credit limit that you already owe over half of it. This is not disclosed in the application process like they claim. (Why would you do it?) The card comes with the Credit Card contract and and "Initial" Disclosure Statement. On your sheet the card comes with it says 1) Credit Limit $325.00 2) Initial Fees $179.00 3) Available Credit $146.00 4) First Payment $25.00. So you get a card that is more than half used up and you already owe them money, you haven't even activated the card yet! Even when you try to cancell they pass you to some one else, that keeps repeating you knew this when you got the card. BS! A couple of days later you get your first statement with a break down on the $179.00 you supposedly agreed to. 1) Program fee $95.00(finance charge? 2) Account set-up-fee $29.00 (finance charge) 3) Monthly servicing fee $7.00 (finance charge) 4) Annual fee $48.00. All these finance charges and you haven't even used the card yet. THIS IS A TOTAL SCAM, and will be reported to the South Dakota Attorney Generals Office.

Bonita Springs, Florida
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This report was posted on Ripoff Report on 03/03/2009 05:45 AM and is a permanent record located here: 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 Consumer Suggestion

Take a look at this site if you want real reviews

AUTHOR: Rev Murf - (USA)

I was digging out there and I actually got one of my 1st cards from my own bank. My credit isn't the best because of medical bills and everything else when I lost my wife to Cancer, in just one month after being diagnosed, over 7 years ago now. So I received a pre-approval for $700.00 and did see the $175.00 fee along with the other charges. I looked at some peoples responses here and I'm afraid that they don't represent what people have experienced out there and these are recient reports of people whom got SCAMMED big time. So, take a look at this link and make your own decision. I can tell you this, after I read all of these and finally gave up after about 15 or so I took the card and letter, cut them up and filed them in the proper place they should go (THE TRASH). Don't be scammed. Customer Service is everything in a company and when you call them and they don't record your conversations I would take that as a BIG Warning Sign. Here is the link below. Good Luck and Good Crediting;

Rev Murf.

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#2 Consumer Comment

Yes it is a scam - a legal scam, an unethical scam

AUTHOR: Ravi - (USA)

I received the offer today.  The fees are exactly as you have reported.

This is a legal scam - i.e they discolose the fee. this is an unethical scam - unetical because other companies like amex/boa does not do this way..

Thank goodness, I read the fees that they mentioned in fineprint.  I also searched the web for "" and "first premier bank" credit card.

My amex and master cards don't attach any fees for "account opening" "account closing" "finance fee" "blabla free".  Amex and master and visa card that I have are FREE. 



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#3 Consumer Comment

Info is Enclosed

AUTHOR: JHackerX - (United States of America)

All of the fee's are mentioned in the application, I have one sitting next to me now. All of the fee's are mentioned right above where you sign, and even has a bold header that read Please Read Then Sign Below.

So it's nobody's fault but your own for not reading all the fine prints in its entirety. I fail to see how that is First Premier Bank's fault.

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#4 Consumer Suggestion

Not A Scam

AUTHOR: Mr.solis - (U.S.A.)

First prmier bank has one of the best bad credit, credit cards because of there low APR. All credit cards that are for those with bad credit will have fees such as set up fees annual fees "privilege" fees monthly fees and whatever fees they can think of giving you, but I assure you that they do disclose all of this information in each of there credit offerings and even on there website. I currently am in the process of approval; my credit isn't too bad it just needs a touch up (I'm a college student). Aside from this card I also have a card from 1st financial bank which is also a great company. If you are skeptical of any offer always research the company before signing away and remember always read the small print. You may have thought they did not disclose the information, but simply may have just overlooked it. Here are there fees summed up from there website

Below are the account fees, rates, costs, limitations, available credit limit and other terms for First PREMIER Bank Credit Card offer.
Please print these disclosures and keep them with your records. If you are unable to print these, write to First PREMIER Bank, C/O Correspondence, PO Box 5524, Sioux Falls, SD 57117-5524 and request a copy. By submitting this application you understand that your initial credit limit will be at least $250.00 and the following fees will be billed to your first statement: Annual Fee of $48.00, Account Set-Up Fee of $29.00, Program Fee of $95.00, Monthly Servicing Fee of $7.00, and an Additional Card Fee of $20.00 per card (if applicable). These fees will reduce your available credit until they are paid. You will be eligible for consideration of a credit limit increase in as little as six months. In addition, by submitting this application you certify that you have read, meet, understand, and agree to the account fees, rates, costs, limitations, available credit and other terms listed below.

Fees, rates, costs and limitations
(Please print these disclosures and keep them with your records)
Annual Percentage Rate for Purchases 9.9%
+Other Annual Percentage Rates APR for Cash Advances 19.9% and Penalty APR 19.9% for Purchases.
See Penalty Explanation below1
Fees for Issuance or Availability of Credit Account Set-up Fee: $29.00 (one-time fee)
Program Fee: $95.00 (one-time fee)
Annual Fee: $48.00
Monthly Servicing Fee: $84.00 Annually++
Additional Card Fee: $20.00 Annually per card (if applicable)
Grace Period for Repayment of Balances for Purchases If you pay your previous balance in full on or before the due date shown on your previous statement you will have a grace period on purchases of 25 days (from the statement closing date to the payment due date), and can avoid finance charges on current purchases by paying the statement balance in full on or before the due date.
Method of Computing Balance for Purchases Average Daily Balance (Including new purchases)
Minimum Finance Charge $0.50
Transaction Fee for Cash Advances Greater of $5.00 or 3% of the amount of the Cash Advance; Maximum of $10.00
Fees for Paying Late or Exceeding the Credit Limit
Late Payment Fee: $29.00
Over Limit Fee: $29.00
Monthly Account Maintenance Fee $3.00 per month on closed accounts with an outstanding balance of $20.00 or more.
Fee for Transactions in Foreign Currencies 3.0% of the transaction amount

++The Monthly Servicing Fee of $84.00 will be billed at $7.00 per month.

Other Charges: Credit Limit Increase Fee: Each time your Account is eligible and approved for a credit limit increase, a $25.00 fee is imposed. Internet Access Fee: $3.95 (one-time fee); Copying Fee: $3.00 per item. Wire transfer fee: $5.00 per transaction.

Additional Fees: Return Item Charge: $25.00; Autodraft Fee: We impose an $11.00 charge for each payment made through an autodraft service we provide. Autodraft payments requested through our automated systems (i.e. Voice Response or Internet) are assessed $7.00 per transaction. Express Delivery Fee: We impose a $35.00 fee for the express delivery of your Card(s) sent Priority two-day airmail. This service is only available on lost, stolen or replacement cards.

1Penalty Pricing Information: If your Account goes past the due date two times in any six month period or goes past the due date for two consecutive billing cycles the APR for purchases will increase to 19.9%. The APR for purchases will be reduced back to 9.9% if the Account is kept current for three consecutive months or is paid in full.

Account Terms: This credit card account ("Account") is offered and credit cards are issued by First PREMIER Bank (Sioux Falls, SD). When your application is approved, the complete terms applicable to the Account will be furnished to you with the card. In the following disclosures, "Bank," "we," "our," and "us" refer to First PREMIER Bank, and "you" and "your" each refer to the person applying to us for an Account.

Changes to Rate, Fees and Terms: We may change the terms of your account, including the APRs at any time in accordance with the Credit Card Contract that will be sent with your Card.

Available Credit and Cash Advance Limitations: The initial minimum credit limit will be at least $250.00 and the following fees will be billed to your first statement: Account Set-Up Fee of $29.00, the Program Fee of $95.00, the Annual Fee of $48.00, the Additional Card Fee of $20.00 per card (if applicable) and Monthly Servicing Fee of $7.00. These fees will reduce your available credit until they are paid. If you are assigned the minimum credit limit of $250.00 your initial available credit will be $71.00 ($51.00 if you select the additional card option).

Your initial cash advance limit will be 10% of your assigned credit limit. Once your account has been open and active for a minimum of 90 days, has two consecutive months of current payment history, is not currently delinquent and has had no return payments for 60 days, your cash advance availability may be increased to 50% of the assigned credit limit. If your initial credit limit is $250.00, your beginning cash advance limit will be $25.00 and may increase to $125.00 once the criteria above are met.
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#5 Consumer Suggestion

not a ripoff...

AUTHOR: Sylver8248 - (U.S.A.)

I agree with the comment above. These credit card offers are for those with no credit, or bad credit. The fees are tacked on up front, to ensure that whoever opens the account will actually pay the bill (stemming from not having done so in the past).

It is disclosed in the offer letter.
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#6 Consumer Comment

Not a scam...

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

The fees are disclosed in the solicitation letter. My sister gets them all of the time and keeps asking me if I think it's good deal for her.

Every fee is most definitely disclosed in these letters and I can run to my sister's house and take photos of the letter to prove it.
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