Complaint Review: First Premier Bank - Sioux Falls South Dakota

 i am humored by the jacka**es stating they have good credit and are slamming those pointing out the issues with second chance lenders.

I seriously have alot of trouble believing if you are on this site under this category you have good credit and unless you are a customer complaining or an employee of this company who has crap staffed customer service then you probably do not have a job to have the time to be online responding to complaints posted by those of us who have little choice in re establishing credit.

You appear to be terribly fast to judge others with flawed credit without knowing the circumstances which led so many to these complaint boards to start with .

I don't see people on here blaming anyone for their credit circumstances and just because a group as a whole has damaged credit does not make them /us any less deserving of another chance and I also notice most have clearly stated that we were willing to take on the fees associated with such sub prime cards the point i see people trying to make is about the extra charges like saying your questions are too complicated to address with online support then having us call in only to incur additonal charges all while they are sitting on a 10 day old cleared ach payment this results in the card going ovr limit just while trying to gain a suitable reply from the company.

I don' t think you are being fair.  First off Premier is considered sub-prime lending, meaning if you are being solicited from them, you already have SERIOUS credit issues.  Second, it's all disclosed, as you point out, all you  have to do is read it.  Premier Bank isn't for  those of us with good credit, who actually read the solicitation, its for those of you who have TRASHED your credit.  You reap what you sow!  You should be grateful there are companies like this, offering you a second chance!!!

"  They disclose their APR as 36%!  "
"  They tack on a $49.00/year annual fee! "
"  the charge you $10.50 PER MONTH fo something called a "Monthly Servicing Fee"!?! "

    It appears that they plainly disclose their rates and fees.   That's actually the opposite of fraud.

    So, you've determined that this sub-prime credit card is not a good value for you.    Bully for you!   There are numerous financial products available that are even less of a good value.   This card may in fact be a good deal for someone who has trashed their credit and requires a credit card.  It's not really up to you to decide for the whole world what is appropriate.  

   That said, I'm still waiting for you to describe the fraud.    Expensive or overpriced is not the same as fraud.   If it were, Mercedes and BMW would have been out of business long ago.

First Premier is a "Sub-Prime" card and meant for high-risk people who have credit issues and can not get a regular credit card.  As with any other type of loan the higher the risk an individual is the more interest and fees that banks are going to charge.  So while I would never sign up for this card for the very reasons you stated.  You have also shown that they fully disclose these fees and if someone has bad credit and wants to try and start to rebuild it this is a card that can do that. 

Also, if you really want to go after what you consider "legalized loan sharking" how about going after Payday and Title loans.  Those in some cases can have interest over 300%.