• Report: #330614
Complaint Review:

First Premier Bank

  • Submitted: Mon, May 05, 2008
  • Updated: Tue, May 06, 2008

  • Reported By:Cranston Rhode Island
First Premier Bank
Po Box 5519 Sioux Falls, South Dakota U.S.A.

First Premier Bank Of South Dakota,First Premier Bank First Premier Bank is a SCAM. Sioux Falls South Dakota

*Consumer Suggestion: Fees are fully disclosed UP FRONT.. and..

*Consumer Comment: Funny thing about First Premier Bank...

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I just received a credit card from First Premier Bank and looked at my credit limit which was $250.00 Underneath says "Initial Fees" $179.00 and I've been billed already in the mail for $25.00 I look at this and red flags are going up Everywhere!

First off I look up online and what do I find.. complaints everywhere. I call First Premier Bank and tell them I just received this card today and want to Cancel my account. It sounds simple right? Oh no the lady starts to bully me asking me why I wanted to cancel and that I shouldn't..I tell her look I just want to cancel she tells me to "Shut-Up" and stop interrupting her!!! I'm thinking now I'm in trouble this lady isn't going to cancel this card which is a total SCAM! Now I have to become "passive" which in no way is me.

She read probably 2 pages of stuff..non-sense stuff. Tried to tell me she would take $50.00 off my bill if I were to keep the card. I said to her first off I don't even owe you in the first place I just received the card. I don't know how this company is staying in business. No one can be that stupid to agree to such terms.

To end my story the lady told me so you want to cancel your card for the 100th time in the conversation and I kindly said yes please and Thank you. What do you know it sunk in and I hung up. Feeling very light headed from the stress of this "lady".
Double yoga class for me.

Beach mom
Cranston, Rhode Island

This report was posted on Ripoff Report on 05/05/2008 11:01 AM and is a permanent record located here: http://www.ripoffreport.com/reports/first-premier-bank/sioux-falls-south-dakota-57117/first-premier-bank-of-south-dakotafirst-premier-bank-first-premier-bank-is-a-scam-sioux-330614. 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 Consumer Suggestion

Fees are fully disclosed UP FRONT.. and..

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

"Beach Mom",

You simply failed to read the terms and conditions of what you applied for.
Very simple.

When I was rebuilding my credit, I applied for the First Premier Card.
All fees were clearly disclosed. I accepted them. I got the card. They have now substantially raised my credit limit and I am at a fixed rate of 9.9% with "bad credit".

These are sub prime lenders offering a fee based product for the sole purpose of allowing people to rebuid their credit.

Why would you even apply for this card unless you had crappy credit?
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#2 Consumer Comment

Funny thing about First Premier Bank...

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

They are totally going to hose you but they are honest and upfront about it.

My sister received one of those letters and asked me what I thought about it. I advised her to open a secured credit card at her bank.

Back to your situation, the sales pitch letter that you received from tPremier included an insert that disclosed the fees and terms of the credit card. That insert described every fee that would be charged to your card if you applied for one and were approved.

Since you have the card, I assume that you went ahead and applied for it. By doing so, you accepted the fees. If memory serves, you can close the account within 30 or 60 days (check the terms and conditions insert).

If you keep the card, be aware that there is a monthly fee and from what I've read, there is even a fee to make your monthly payment by phone or internet.

My advice is to either close the account or keep the card for one year. If you keep it, make your payments on time and for more than the minimum payment amount. When your able to qualify for a better card, pay this one off and close it.
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