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Report: #420777

Complaint Review: First Premier Bank - Sioux Falls South Dakota

  • Submitted:
  • Updated:
  • Reported By: Houston Texas
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  • First Premier Bank http://www.firstpremier.com/ Sioux Falls, South Dakota U.S.A.

First Premier Bank Re: Big Mistake in Germantown Sioux Falls South Dakota

*Consumer Comment: First Premier Bank...

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

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I also accepted a First Premier Bank Mastercard, for the same reason as you. I recently completed a Ch 13 plan, and we are both, in effect, paying to repair our credit. I have had no problems with 1st Premier.

Yes, it's true that 1st Premier has outrageous fees. They charge you $7 just to pay them online. They hold back your first payment for about 10 days before they release credit (but they did not count those 10 days as late time). Their initiation fees are absurd. They are rated by many watchdog groups as one of the worst credit card deals out there.

They probably are quick to remind their customers that they are at the bottom of the food chain (to which you can reply, "that makes you a bottom feeder"). I have not had any rude service yet.

One more thing is true: First Premier states all these terms up front, and allows you to return the new card, unused, at no cost. I knew all of this because I read the terms first.

"Big Mistake in Germantown", it's an expensive way to build credit, but as long as you read the agreements (it sounds like you have), you will get what First Premier told you.

Cosenbaugh
Houston, Texas
U.S.A.

This report was posted on Ripoff Report on 02/05/2009 06:03 PM and is a permanent record located here: https://www.ripoffreport.com/reports/first-premier-bank/sioux-falls-south-dakota-57104/first-premier-bank-re-big-mistake-in-germantown-sioux-falls-south-dakota-420777. 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 Comment

First Premier Bank...

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

POSTED: Thursday, February 05, 2009

My sister received their solicitations and I read the terms & conditions. While those upfront fees are substantial, the card itself isn't a bad deal for someone trying to rebuild their credit.Sure, you owe $180 in fees but when you pay those off you have a card with an APR of around 10%. That's a far better deal than those car loans with triple digit interest rates. The fee for online payments is becoming more common. Ford Motor Credit has been doing it too. You can send payments by mail or if your bank offers free billpay, you can use that and First Premier won't charge that fee.

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