Don't do it
Written: Apr 17 '06
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Pros: None that I can think of unless you can't get credit anywhere else.
Cons: HIGH FEES!!
The Bottom Line: Please use this option only if you are desperate for credit and can't get it any other way.
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| mizzcheryl7's Full Review: First PREMIER Bank Secured Visa |
I just got my Premier Visa in the mail. I was approved for a credit limit of $250 and after their outrageous fees, my available credit limit was $72. The day after the card arrived, I received a bill in the mail (of course I hadn't charged anything thus far) with a minimum payment of $20.
I immediately called the company and was a little nervous because of reading the reviews here about how the reps were rude, but surprisingly the person I spoke to was courteous and not rude at all. She tried to explain the fees to me and told me that if I wanted to keep the card, she would take $60 off the fees. I still declined and she said she would cancel the card. I will be checking again every few weeks or so for a while to make sure it is indeed canceled. I do have a secured credit card with Orchard Bank, that only charges a $35 annual fee and although it is my money that I put into it ($500) it's not money that is just thrown away to make the company richer faster. I would also advice someone to check their bank to see if they have a secured card that they could apply for, I bank with National City and am getting a secured credit card with them and theirs has no annual fee and no credit check. I would much rather put money on the card that I can actually use as opposed to paying ridiculously high fees. Hope this helps.
Recommended:
No
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Epinions.com ID:
mizzcheryl7
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Reviews written: 1
Trusted by: 0 members
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