Complaint Review: First Premier Bank Cards
- First Premier Bank Cards
Sioux Falls, South Dakota
- Phone: 1-800-987-5521
- Category: Credit & Debt Services
First Premier Bank Cards Do not stand for their unlawful practices Sioux Falls South Dakota
*Consumer Comment: It never fails..
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I had two credit cards with First Premier in 2008. First Premier's terms were unclear and usurious, and now, they are considered unlawful. I have recently reported this company to the FTC, CFPB (who has forwarded my complaint to the Federal Reserve), BBB, and my states Consumer Protection Bureau
Here is a rundown of how this company "did me a favor" helping me rebuild credit.
My cards with a $250 and $350 credit limit included: $35 processing fee, $119 acceptance fee, $6 monthly fee ($72 a year), on top of the money I had to deposit just to use the cards. That adds up to $276 in fees, which is more than the credit limit I was given on one of the cards, and more than half on the other. I closed both of these cards in good standing 09/2008. What did I get for my trouble, these shysters immediately tacked on over $1000 in fees collectively for both credit card accounts, and subsequently sold them to collections. If they cannot keep you as customer, and rip you off with 79% interest rates and astronomical fees, they will simply get you on the back end by manufacturing bad debt, and then try to force you to pay under threat of damaging your credit.
This has been the case with thousands of consumers who have had the misfortune of doing business with this company. For all trolls who want to come here and respond to my complaint with the typical nonsense about how this is my fault for having poor credit...just so you geniuses know...ALL OF THIS HAS BEEN DEEMED ILLEGAL by the Fed. Credit companies CANNOT charge these kinds of fees or interest rates, and cannot systematically overcharge their customers for the hell of it, or ruin your credit without validating the charges.
First Premier has repeatedly failed to comply with the CARD act and the FCRA. They have been sued by several states for their practices, AND LOST. Yet, they continue to find new and innovative ways to rip people off.
Please, if you have ever dealt with these people and been harmed....immediately file a compliant with the Consumer Financial Protection Bureau, the FTC, the Federal Reserve, the BBB, and your States Consumer Protection Bureau. Take the time to write one eloquent statement, save it, and copy and paste that sucker on all of the aforementioned organizations compliant forms (available on all of their websites).
These people need to be put out of business. PERIOD!
This report was posted on Ripoff Report on 06/25/2014 02:33 PM and is a permanent record located here: https://www.ripoffreport.com/reports/first-premier-bank-cards/sioux-falls-south-dakota/first-premier-bank-cards-do-not-stand-for-their-unlawful-practices-sioux-falls-south-dako-1157457. 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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