Just got my 1st preapproved cc offer...

[liz417]

After 2 years from Ch.7 you qualify for an FHA loan which is NOT a second rate loan. I'm working on getting a loan with under 2 years with a rate under 5%. I am buying the rate down a couple of points otherwise I would be in the low 5's.

Logan

Wow really? That's a great rate! Good Luck!

[veryclose]

Liz, got that same offer. If you keep throwing those away, eventually First Premier will send you one that says zero interest for the first year...LOL

Even if you get one of those, do not get a card through First Premier. Extremely predatory company, lures you in with low or no interest and then arbitrarily jacks up the rate until you are around 25% or more. They play games with your payments also, so they can tack on late fees. God help you if you are somewhere near the max, then you're looking at an overlimit fee. As you start swirling down the toilet that is First Premier, you can literally find yourself paying minimums that don't even cover the fees they charged the month before.

[kenshirley]

from 1st Premier Bank and I'm not even discharged yet! Their motto is "we know that bad things happen to good people"...

Okay, the terms:

-19% interest rate (not as bad as I thought it would be) goes up if late
-$250 credit limit.....but there are some "charges" deducted from the card:
*$95 Program Fee
*$29 Set up Fee
*$48 Annual Fee
*$7 Monthly Service Fee
*$20 additional card for hubby
-------------------------------------
Total available credit: $51

Oh, then there's "other fees"
$25 for a credit increase (they will review every 3 months)
$3.95 internet access fee
$11.00 auto draft
$7 to pay online

For someone who kept a 780 credit score and had 4.99-9.99% on credit cards throughout the years, this is hard to swallow....I guess I better get used to it....

What a joke this it! I wonder how many people are that desperate to have one of their cards under these terms?
We just use our debit card which is backed by our limited savings now and we don't care about credit for the time being.
Anyone will take the debit as a credit card without a problem.

[teacher]

I got a similar offer in the mail today from the same bank. I think the APR was only 9% though, and maybe the fees were a little less.

Keep in mind, I had my 341 TODAY. I am not even discharged yet. I wrote a big "no thanks" on the application, put the application, the letter, disclosures, and the envelope it came in, into the reply envelope and put it in the mailbox.

[lbroussard25]

I got the same one except the interest was 9.9 I laughed and threw it in the trash. I would never accept a card like that. I can't wait for my discharge. I hope I can find a good deal on a car. I don't have one and scared no one will give me a loan.

[justplaintired]

I got this one. It ofcourse went to the trash can. Since I have swore off cc, I would not have considered it even if it had been an acceptable offer. We had good cards with good rates, that's why I am here. Too easy to fall in that trap.

Today it was another offer for credit for a car! I am so glad I got smarter, these credit offers go right where they belong, in the trash!

[Nicollette]

I used to have one of their cards and needless to say, its included in my Ch 13 plan.