First Premier Platinum offer

[tomd922]

So my Chapter 7 was discharged last month and First Premier bank was included in my BK. Now they are sending me offers? I do need to get a couple of low limet cards to start rebuilding but since they charge an up front fee to apply I am a bit wooried that I will get denied and never see the refund of the application fee. Has anyone else been in this situation? Will a credit card company give you another chance after filing on them?

[jadams]

Wait for something better.

A no-fee secured card with a local credit union is good. Lots of credit unions will do it for as little as a $300 deposit and no fees.

Or lots of people have good success with HSBC. Try the Best Buy RewardZone Mastercard (*not* the regular Best Buy card). It tends to be a very small limit (lots are only $100), but with no annual fee (the usual on the $100 cards) it's good for rebuilding. If you look around this forum there are links to what HSBC calls the pre-selector. It's sort of half an application that you fill out and HSBC determines if you'll be approved or not with a soft pull to your credit report. If you decide to accept an offer, it becomes a hard pull and a normal application.

Put something small on it (NetFlix, a tank of gas, etc) and pay it in full. Repeat every few months to ensure the card isn't closed for inactivity.

Save the money you would pay First Premier in fees and put it in your savings account. With all of the application, setup, monthly, online access, and payment fees it shouldn't take long before you have enough to establish a decent secured card limit. At least this way if/when you close the card, you get the money back.

[FLBroke]

I got my first offer from them yesterday (month after discharge). $45 set up fee, $75 annual fee and interest of 59.99%. How insane that is? Needless to say, I will pass.... It was just interesting to me because I have never seen an offer with 60% interest in big bold letters...crazy!

[DebtHater]

I agree with the others. First Premier are borderline crooks that prey on desperate people. You credit will be rebuilt soon enough with out having to pay out over $250 to get a credit card.

[Amy26]

Yea, I would wait and try Capital One, HSBC, or hooters MC. To me, First Premiere is like the lowest credit card possible.