Guess Who's Getting a Credit Card?! - Page 2
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Old 03-09-2010, 02:26 AM   #11
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Reading this I needed to find who the nasty bank or banks were that will charge 59.9% APR and google comes in!

United States : First PREMIER Bank Card Now Offering 59.9% APR Credit Card with $300 Limit and $75.00 Annual Fee. - Free Online Library

We reported last October that First PREMIER Bank was offering a credit card with a 79.9% interest rate to some sub-prime borrowers and it appears that First PREMIER Bank of Sioux Falls Sioux Falls, city (1990 pop. 100,814), seat of Minnehaha co., SE S.Dak., on the Big Sioux River; settled 1856, inc. as a village 1877, as a city 1883. Settlers abandoned the site in 1862 because of Native American raids, but with the establishment (1865) of Fort , SD is at it again. The new offer that the LA Times got a hold of has a slightly lower, although still usurious usurious adj. referring to the interest on a debt which exceeds the maximum interest rate allowed by law. (See: usury) , interest rate and a number of fees which are well above industry average.

The new offer that First PREMIER Bankcard is sending to its customers comes with a $75.00 annual fee, which is 25% of the card s credit limit. There s also a $45.00 processing fee which must customers must pay before the card is issued. There s a $29.00 annual fee for each additional card that customers make use of.

The late payment fee that First PREMIER Bankcard is charging its customers is $29.00 for balances up to $500.00 and $34.00 for balances over $500. There s a $29.00 over-the-limit fee. If you want your credit limit increased, the fee you will be charged is 50% of the amount of increase. This means, if you want to have your credit line increased from $300.00 to $1000.00, you will have to pay a $350.00 fee for the privilege and that s if First PREMIER Bankcard approves the increase.

Cardholders of the new offer that First PREMIER Bankcard is sending out to some customers will also have to pay a $5.00 wire transfer fee and a transfer fee for cash advances, which will be between $5.00 and $10.00 depending on the amount of the withdrawal. This fee is charged to customers that have had their accounts for more than one year. The bank also limits initial cash advances to 10% of the borrower s credit limit.

Finally, customers that end up closing their accounts have the privilege of paying a $3.00 monthly maintenance fee on closed accounts that have outstanding balances of $20.00 or more.

According to according to
prep.
1. As stated or indicated by; on the authority of: according to historians.

2. In keeping with: according to instructions.

3. First Premier s website, First PREMIER Bankcard is the 10th largest issuer of VISA and MasterCard credit cards in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. having than 3.5 million customers nationwide. The company says that the company focuses on individuals who have less than perfect credit but are actually still creditworthy

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Old 03-09-2010, 07:50 AM   #12
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Nothing wrong with credit cards.

Caveat: as long as you have the discipline to not charge anything you don't intend to pay in full when the statement comes in. I got my first in 1981 and have never have paid a dime of interest on any of them.

QFT.

This is the crux really...pay the bill when it comes in, only use for purchases where you can't use cash/debit card...like online purchases etc (eg books, which are often 1/3 of the price on amazon that they are retail here). No interest accrues.


No one will be making any tidy profit off you this way.
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Old 03-09-2010, 03:24 PM   #13
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manage your money and just get pre paid cards for online purchases.. hell with credit

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Old 03-09-2010, 03:38 PM   #14
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Almost every purchase I make is on a credit card. The more I buy the more airline mileage I get. The more airline mileage I get the more often She goes away.

I have no idea what my cards APR is, and I don't care. I pay the balance in full every month so the ?% of 0 is 0.

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Old 03-09-2010, 11:20 PM   #15
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QFT.

This is the crux really...pay the bill when it comes in, only use for purchases where you can't use cash/debit card...like online purchases etc (eg books, which are often 1/3 of the price on amazon that they are retail here). No interest accrues.


No one will be making any tidy profit off you this way.
not true.

the credit card companies still make their money. they charge the seller a percentage for processing the transaction.
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Old 03-09-2010, 11:58 PM   #16
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Originally Posted by Jo da Plumbr View Post
Almost every purchase I make is on a credit card. The more I buy the more airline mileage I get. The more airline mileage I get the more often She goes away.

I have no idea what my cards APR is, and I don't care. I pay the balance in full every month so the ?% of 0 is 0.
Same here. I do a lot of flying and the miles add up in a hurry when using the card. I then get a free flight now and then. I pay a small yearly fee for the card but in return I get a free flight for a companion each year which more than covers the annual fee. I pay off the card every month so I pay no interest.
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