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  1. #1

    Default What should I do?

    I have been with First Premier Bank for about a yea and a half. I have not been late or missed payments but I don't have a cli yet. Besides that i know that length of credit is a factor in your credit score. Should I continue with them because of the time I have vested with them or should I find someoe else to start an account with

  2. #2

    Default Re: What should I do?

    Lot of questions need to be answered:


    • Is this your only line of credit ?
    • Are you starting over re - establishing credit or just starting out ?
    • Do you REALLY need to open a second account ? Is this just to diversify ?

  3. #3

    Default Re: What should I do?

    Quote Originally Posted by ais249346 View Post
    I have been with First Premier Bank for about a yea and a half. I have not been late or missed payments but I don't have a cli yet. Besides that i know that length of credit is a factor in your credit score. Should I continue with them because of the time I have vested with them or should I find someoe else to start an account with
    you should continue with them for another year..then graduated from them to a store card(macy's, jc pennys, best bank-not the MC) apply for these In STORE ONLY!! in the middle of the 12 month, you might want to go after a Hooters credit card on your 6th month of credit history/payments

    as far as the credit limit increase with first premire bank its not about the credit score and all that jazz because all they gonna do is charge you for the increase you ask for and then when they do it wont be but 100.00 200.00 tops although each situation is different the majority of first premire users says this has happend to them only a few get the great stories like no charge for credit limit increases or no yearly fees

    but all this null and void until you understand whats your purpose of building your credit or are you trying to re establish credit

    if you are trying to re establish credit and if you are going the secured card route without dealing with banks, i would suggest looking into the public savings secured card pronto!! its clearly the best of the bunch out of orchard,first primire, etc..COMBINED!!

    says uzipolo king of decatur

  4. #4

    Default Re: What should I do?

    I have:
    Orchard bank visa-320
    Personal loan through finance com- 1500
    Home mortgage-50000
    Student loans-25000
    Fingerhut -260
    first premier bank- 250

  5. #5

    Default Re: What should I do?

    OK ais249346 I will assume you are in good standing in all your accounts.


    • How long have these accounts been open, can you give dates for each ?
    • Have you applied for anything in the last 12 - 24 months ?
    • What type of account do you want to start ? are you thinking of a BOA / CHASE/CITI BANK/AMEX/DEPT STORE i.e. Macy's /Gas Card ?

    If your objective is to open another card, I would suggest paying off First Premier, Orchard and Fingerhut. Since the other loans are long term, as long as your paying them on time or paying more than the minimum if you can afford it, then this is ok.

    Once you provide the age of these accounts, I or others here can direct you to what would be a positive step for you to take if any.

  6. #6

    Default Re: What should I do?

    Quote Originally Posted by ais249346 View Post
    I have been with First Premier Bank for about a yea and a half. I have not been late or missed payments but I don't have a cli yet. Besides that i know that length of credit is a factor in your credit score. Should I continue with them because of the time I have vested with them or should I find someoe else to start an account with
    First Premier is not a bank that you want to build a long lasting relationship with. 1.5 years is pretty much the sell by date for these cards. That is not to say that they do not serve a purpose, but usually after a year, two max, it is time to move on to something better.

    As SMCC has asked, can you provide more information regarding your situation? Charge offs, bankruptcy etc.

    The next step for you in my humble opinion is Capital One. They have a pre-approval tool on their website that allows you to see what, if any, card you may be approved for. This will be a soft inquiry which means only you will see it on your bureau. Of course, just because you get pre-approved is not a gaurantee for approval.

    Another option is a secured card through one of the bigger banks (provided you did not burn them in the past): Bank of America, Citibank, US Bank or Wells Fargo. Also check with a credit union to see if they offer secured cards.

    Your final option is to call First Premier regarding a CLI. From what I understand about First Premier is that they do not just give CLI's. They offer CLI's from time to time in $50 increments at a cost of $25 each. If you insist on spending anymore time with this bottom feeder card, that could be a way to go.

  7. #7

    Default Re: What should I do?

    Closed credit accounts stay on your report for 10 years, so that can help you out with age of accounts. I don't know how many other accounts that you have. If this is your only card and you have bad credit, I would keep the FP right now and get another card. I would find a local credit union and find out about secured credit cards. Then I would try for 1 or 2 store or gas cards. If you decide to get a store or gas card, I would choose one that you would shop at a fairly consistant basis. You do want to show some activity on credit cards.

  8. #8

    Default Re: What should I do?

    Best thing to do is to apply for credit card accounts from HSBC and Capital One and if approved, then dump First Premier. No need to pay fees for using a credit card when other issuers are willing to extend you credit without nickel and diming you.

    The Best Buy Rewardzone Mastercard is a pretty easy card to get approved for.

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