Orchard bank credit card
Review: First Premier Bank MasterCard Credit Card
Note that when you click on the link to the card, you’ll land on a page that says there’s an error. Click where it says you can begin a new application and you’ll reach the landing page. Odd that it won’t let me link to the home page for the card. But everything about this card is a little, um, off.
First Premier offers a bunch of credit cards and they all seem to have the same rates and fees. I think that approach is confusing for people. Really, when it comes to credit cards for bad credit, it’s hard to pick out the best ones, isn’t it?
After I finish a few more reviews, I’m going to rank both the unsecured and the secured credit cards for bad credit. A list could help you decide which card to turn to next if you get turned down by an issuer. If there’s a credit card you’d like me to review, please mention it in the comments section and I’ll put it on my list for this week, if possible.
Okay, back to First Premier. This bank is known for high fees and high interest rates. This bank once offered a credit card with a 79 percent APR. I wish I was joking, but I’m not. Not surprisingly, there are no rewards with this card so we’ll dive right into the costs (of which there are many).
Rates and fees
You know how I always harp about how important it is to read the fine print? This card is the poster child for why you can’t afford not to read the details, which are right here (again, you’ll get an error message; click where it says you can start a new application and then click on Apply Now to get to the fine print).
No excuses, now, because I’m making it easy for you to find them. Well, as easy as First Premier will let me make it for you! Geez Louise. Okay, as you can see from the first item below, the costs start from the moment you turn in your application.
Processing fee: You pay $95 to apply for this card.
Monthly servicing fee: None for the first year; after that, it’s $75 annually ($6.25 per month).
APR: You get a variable rate of 36.0 percent. No, that’s not a typo. The interest rate is 36 freakin’ percent.
Balance transfers: Not applicable.
APR for cash advances: You get the same rate you do for purchases, which is currently 36.0 percent. The transaction fee is 5 percent. Interest on a cash advance starts ticking right away. If you’re desperate for cash, explore all other options first.
Annual fee: It’s $75 for the first year. In the second, it goes down to $45 per year. There’s also an “additional card fee” of $29 per year.
Foreign transaction fees: It’s 3 percent, which is within the normal range.
Credit limit increases: You’re eligible to be considered for an increase after your account has been open for 13 months. There’s a fee to increase your credit limit. You pay 25 percent of the amount of the increase. Here’s the example they use in the credit card agreement: If approved for a $100.00 credit limit increase, a $25.00 Credit Limit Increase Fee will be assessed to your Credit Account, which will result in an additional available credit of $75.00 on your Credit Account.
Other fees: Wire transfer fee, copying fee, late fees, and more. Read the terms and conditions carefully so you’re aware of all the fees.
The bottom line
I know it’s hard to grasp the total cost of the card because I gave you such a long list of things to ponder. So let’s break it down:
Start-up cost: $95 processing fee plus $75 annual = $170. And this is to get a $300 credit limit, which after the annual fee is deducted, is only $225.
Annual cost for the first year: $170, which is the start-up cost.
Annual cost for the second year and beyond: $75 annual fee + $75 monthly servicing fee = $150.
Now, this is just the minimum cost of the card. This doesn’t include any of the other fees you could be charged. And if you carry a balance, well, yikes, I’ll be worried for you.
There is only one good thing about this card. There’s a 27-day grace period, which is longer than average. And you’ll need it, too, to avoid paying 36 percent interest.
I’ve mentioned before that I do understand there are limited choices out there if you have bad credit. And if you’ve had a recent bankruptcy it’s even more difficult to qualify for a decent card. But using this card could make your financial situation worse than it already is.
If you really feel you have no alternatives, I recommend using this card responsibly for a year to get the payment history on your credit report. Don’t carry a balance. Then move on to another credit card as soon as you can, even if you can only qualify for a secured card.
I decided I need to come up with a better rating system because giving this card a “thumbs down” review doesn’t seem strong enough. Any ideas? Should I switch to a number-ranking system? Hmmm. For now, I’ll say this card is in “double thumbs down” territory.
Note: Credit card agreements change frequently. So my review is based on the information that was in effect today. Be sure you read all the disclosure statements carefully.
Is it cheaper to pay of the whole thing and pay the $6.25 every month or to pay down to $20 every month and pay the 36% apr every month?
havent had too many complaints about this card, but we use it seldom and pay it off when the bill hit. was a good starter card, with a 700 unsecured balance.
Paid 79 for the annual fee, but we are paying 8 dollars a month servicing fee. I dont remember seeing this in the terms and conditions.
It reports monthly to the bureaus and brought a no credit score individual to life.
Dont want to keep it now that we have other options, but dont want to close it and take a hit on the age of accounts on our score.
I got this card about 6 months ago. I have a limit of $300 and my personal limit is $150. I’m training myself not to max out my cards and better my credit score. I pay off the bill in full every month. My only problem is that I recently paid the bill on 1/3. Today is 1/10 and although my account says that I have been credited for my payment on 1/3, it has yet to show up and so my limit is less the payment. I have a secured card with First Progress and I paid that bill in full on the same day. The payment was on my account 2-3 days later. The only good thing about this card is that they are reporting my paid in full monthly status to the credit bureaus. I’m starting to receive offers from CitiBank for a semi secured card. If I give them $200 they will give me a $300 credit limit. Then of course Capital One has come calling. This card is garbage and can’t wait until I can get into a real card, but for now, it seems to be working!
How much of the payment goes to your actual credit ?
All of your payment will be deducted that you decide to pay. IE. I’ve maxxed my 300$ card limit, monthly payment is due, let’s say you wanna pay 100$, then your total balance still owed is 300$-100$=200$. Now their will be extra fees every month if you owe anything in your due date. Just make sure you can pay it off and keep the balance at 0$ on due date and your available credit at 300$ that way there are NO extra fees.
I don’t understand people that agree to not-so-great terms and fees because they cannot get credit anywhere else then leave negative reviews because they don’t like the terms they agreed to. I had a score of 507 and couldn’t get credit anywhere else. So I paid the fees and got this card. It jumped my score to around 580 and allowed me to then be approved for a credit one card. Now, only 3 months later my scores are around 630 and things are only getting better. Very grateful for this card to get my score moving in the right direction. Because nothing else would give me a chance. Be responsible and you will have zero problems with this card. People make mistakes then blame the company because they can’t be responsible.
I agree I was terrified of getting this card at first but I had bad credit and they gave me a chance so I got it paid the fees paid them each month as I am suppose to and now they have offered ma a second card with a 700 credit limit.
How long did it take for the 700$ offer
It took me 15 months to get the $700 offer.
They gave me $700 from the start. Still haven’t used it yet, but grateful to have it for emergencies (knock on wood).
you said it really best
I’m still confused. How is it they approve me for $500 and after paying the $95 fee, my limit is now $375. In Laymans terms. lol
You have an annual fee that bills to your account when you first open the card. After the fist billing of the annual fee it typically will significantly drop the following year. Keep in mind the fees to open the card may be high but the company takes a risk offering credit to those with “bad credit” and they do help by reporting to all consumer reporting agency’s every month rather than just one!
Annual fee on top of that
I just received my Chapt.7 discharge and received an offer from First Premier today. I entered the confirmation number and submitted the application tonight and was approved for $700. I filled out the application to pay the $25 processing fee with my debit card and clicked submit. It sat there “processing your payment” until it timed out. I have no idea if my payment went through. This is not a good sign and I hope it isn’t a portent of things to come. I’ll check my bank account tomorrow to see if it went through but if it didn’t, I may just forget this card and count myself lucky. I am no pleased so far.
I was approved for $500 and paid the $95 how long til i get my card? Hoping to use it toward christmas.
How long did it take you to get the card?
Do u have to pay the processing fee before you get the card
no you get the card after 7 days after approved
Do I need to pay the full balance instead of the minimum balance?
I was wondering about that too. Is it cheaper to pay of the whole thing and pay the $6.25 every month or to pay down to $20 every month and pay the 36% apr every month?
I was approved for a 500 limit card is on its way ill see if i like it so far everyone saying its a card for helping credit
Hi Dana I was also approved for 500 but do I need to pay the 95 first? Or can they take that out? Im confused and worried about scams.
question, do you get the card then pay the $95 fee or do they wait to send you the card until after you pay the fee? cause i’m not paying till i have this card in my hand
I got my card today but I cannot use it until I pay the $95 fee.
Why can’t I get money off this card even though it has an Chip it shouldn’t matter.
It took me 6 months for them to finally give me a pin # so I can withdraw cash.
Some stores require a PIN number for the chip cards, even if it’s a credit card, if you call the number on the back of your card you can get a PIN number
I refuse to run my credit cards as debit at any store . When you put the chip in and it asks for your pin some stores will let you hit enter without filling in the pin and it will run as credit. At other stores like Walmart I make the cashier run it manually ( one tried to argue with me and a supervisor was called and he ran it manually)
August 15, 2016: I was writing checks to payoff two credit cards but transposed the amounts on both giving First Premier $75.36 too much. On August 17th I asked for a check to eliminate the overage but was told it can take up to 30 days. I called on August 22, to verify my request was in the works. I was told my issue was scheduled for review on September 10. If you’re considering applying for a credit card I suggest you run fast, run far in the opposite direction of First Premier Bank.
I got approved for a first premier credit card, how long does it take once it’s been processed to receive it, my card got processed on Aug 09-16. When should I receive it?
usually takes 7-14 days I’ve had them going on 2yrs now my credit score was 555 and now my score is 677 and finally got approved for Walmart and eBay MasterCard and Home Depot I was so grateful because I’ve been trying so hard to improve my score and 1st premier bank helped me tremendously, I always paid my balance off every month and they increased my credit from 300 to 850.00 and they even waived monthly fee for me for a year, some
post I’ve seen said they been with first premier going on over a year and no credit increase, on the first premier website there is a link says increase my credit limit and I did and got increased and I’ve got offers from them for a second card but i always turned it down the one I have with them is enough, and got approved yesterday with capital one for $1500.00 and 0% annual fee
When you make a payment how much goes to your available credit?
It depends on how much you were approved for. I was approved for $500 and my credit limit will be $375 after I pay the first fee.
As long as you have made all of your minimum payments on time you can get an increase after 13 months.they charge you 25% of whatever amount your increase is.if you get a $300.00 increase it will cost you $75.00
You can request for a credit limit increase anytime, typically want to make sure your card has been open for at least 13 months, payments have been made on time, and you have not been over the credit limit for at least 6 months. Also keeping your balance low also helps
Horrible Credit Card in USA
WITHING 30 DAYS I LOST 75$+264$ = $339
I closed my account just after ONE MONTH due to abusive fees and horrible customer service. Even though I spent less than 70$ from the credit card, they have charged me 264 $ and from the beginning I paid 75$ just for processing fees. They are charging interest plus whatever fee. Done with them. Don’t get. Be carefully, I never recommend this card to anyone. Trust me. This is the horrible credit card in USA.
Do you know if you didn’t pay the activation fee if it’s still considered “active” and will charge all the monthly fees?
Do they make you pay the processing fee before you get the card or can they take it off the card?
I have a 1st premier credit card. Got it while I was in BK. I am out of BK and have paid this care every month for over a year. I wanted to get a credit line increase just to help my fico score. I was denied but they keep sending me approvals to get another card. Why would I want another card with more annual fees and high interest rate when you can just increase my existing line of credit. I have several other credit cards and I’m just working to completely pay this one off. If you can avoid using this card I would. If you have to use this card then work very hard to pay it off. Rates are way too high.
I have had this card since January. No problems and my score has went up. I was offered 400 and i have recently got an offer to open another unsecured card with another company with a 300 limit. Never had a problem with customer service they are always nice and efficient. Recently got my late fee refunded because i didnt know payments had to be posted before 5pm on the due date. I recommend this card however, use it wisely. Dont charge what you can’t afford! Also you should make payments with a debit card they post faster. My available limit updates 24 hours after payment has been made. They have an app that i use on my android and that is very convenient. I make 3 paymemts a month and never experience any issues.
What is premier credit card protection $8.99
This occurs on the statement monthl
so I got this card like 2014? I had used it and I abused it and it went to collections, they recently sent me a requested letter stating, I can open a new card, transfer the balance with 0 interest for a year and pay it off and they will change the status on my credit of not paid to paid, I am making my payments, $400 limit (what I owed) and I have not had any problems yet.
Really I’m thinking about doing the same thing the monthly fees are horrible
I hate this card worst card ever fees are high paid off one card struggling to pay off second worst card of my life
I don’t know why people get this card and then complain about it. I just got mine in the mail and I’m not sure sure if I’m going to activate it. All of the fees and charges are spelled out and easy to see, they are not hidden. Now, if they add on fees that aren’t disclosed, that’s a different story. I am more angry at our legislators for allowing card companies to be able to charge such ridiculous amounts. The biggest scams are perpetuated by the “reputable” companies – where they can raise interest rates on existing balances for virtually no reason at all. In 2010, I had 5 cards with a toal limit of 20K and total balance of about 15. Citicard raised my rate from 6 to 25% – I had no late payments or over limits on any card or load in over five years. The only strike against me was that my debt to available was a little too high. To rectify this I pay down two cards significanty – and their response was to decreae my limits! It should be illegal to increase intereset on existing balances. These craze rates should be illegal. Charging annual AND monthly fees should be illegal. Should they be able to charge a premium for high risk people? Sure, bit within reason. Why are the banks allowed to do this? Because they write the laws. Congress doesn’t even understand the bills the pass – in some cases, they just copy and paste what they’re given by the lobbyists into law. We only have one recourse, which is pie in the sky and will never happen. Don’t use plastic – ever, not even ATM cards. Use cash for everything. Don’t pay online, pay your bills with checks. Or in person with cash. Support your local merchants and pay in cash – they have to pay a fee and or percentage of each POS card transaction, and end up raising prices to cover this. If you must use a car, use it in place of cash and pay it off before interest hits – DON”T USE CARDS FOR LOANS! If your intereset is being raised, take the option to close the card and pay off the balance at the current rate. So you want that new TV or gadget or phone. WAIT and SAVE for it. Then buy something used in good condition. Yes, you will have to bite the bullet, but it’s only for a year and you will be glad you did.
This was the first card I have ever had and I am grateful for them. I was never late and I couldn’t get a card any where else at the time. I never missed a payment. After the fee, I never did that again! my interest rate is 19.905 for cash and credit. if you are ready to be responsible, you shouldn’t have a problem. you have to pay. I have $3100 credit because I added thousands of dollars to this secured card. unfortunately, I can’t close it because it’s the oldest card I have. I have always had a balance so they have never offered me an unsecured card but I’m going to pay it off now and see what happens. I’m 4 years in…and I have better cards now. like Capital one
I owe this card money like 400 dollars. if I pay that off will i get my cc back to use again? planning to pay it off next month.
After only the first month of having this card, my Transunion score went up 61 points from 507 to 568! And my Equifax up 15 points from 515 to 530! (Equifax has more hard credit inquiries 9 compared the Tu’s 3)
This is by far the worst card I ever had (and I have plenty of cc’s). I have paid my balance in full and will follow up with the status/process of cancelling this card. With the monthly, annual, and thousands of other fees this card is a BIG SCAM!! I don’t even know the charges I made on this card and I have always had no more than a 99 dollars available credit amount (cl 700) I have never been late on a payment, but I did have over the limit charges how I have no clue if I haven’t used this card in months maybe even a year. Just check and the 99 dollar credit I had now is 66 dollars this company is full of crooks, I will take the few point deductions off my credit score to get these ppl out of my life. You are better off getting a Capital One card, that’s fair and don’t have any any hidden charges! Again I will be cancelling this card the minute my balance is zero. I will never ever deal with this company again in life!!
Worst card I have ever had too. I just paid them off in full and am done with them for good! Never again!
I paid my first premier card with a check by mail 8 days before my due date which was January 13th they received the payment on the 16th of January and posted it to my credit account as over the limit and I was charge a late fee of 27.00 dollars it still saying over the limit and has not giving me any available credit yet I paid way over the balance due this is my first card has anyone experience this.
I have recently received this card. I have read the reviews. So is this card so bad? I really want to establish
my credit. Is there other cards that are better that I can apply for with bad credit.. Im open to any help
I know it’s desirable to pay the balance in full each month, but does it make a difference (positive or negative) in how the account is reported to bureaus?
Hi Breean – First Premier reports your payment history to the bureaus and this will include whatever your balance is at the time. Even if you pay in full, there can be timing issues and the balance reported might not be zero. You can call First Premier and ask when they report to the bureaus if you want to make sure the balance reported is zero or close to it. For instance, if they report on the 25th of the month, you can pay your balance the week before so the payment history reflects yur payment.
You never want to pay the balance in full. There is a rule that you should only be using no more than 30% of your total credit. This is your utilization rate. Ideally, use less than 10%. I called FirstPremier and my payment is due the 17th and they report to the credit on the 23rd. My card has a limit of $300 so if I charged $250 I would make a payment for $221 to leave a balance of $29.00. When paying the balances in full you are not showing the bureaus that you are responsible holding a balance and intern your score does not go up. Again, by paying the balance in full when First Premier takes the picture (not literally) of your account it will send a zero balance which is as if you are not using your card
It doesn’t matter if u carry a balance or not as long as the card is open it still reports to the bureau.
This is the worst card ever. I opened it to rebuild my credit I was offered $600. There is an annual fee of $79 plus $8 a month even after you pay the fee. If you make 5 payments before the due date it does not count towards anything except your credit limit so on that note you will be charged a late fee. Then the next year you are charged $12 per month annual fee plus a higher fee of I believe $87. And they have an automated system of which you can pay but there will be an $11 charge in order for it to be accounted for your payment due date. Once i pay this off I will never use this card again or recommend it to anyone.
I’m not really sure about first premier credit card, but after filing chapter 7 my fico score was 488 & when I open up credit with first premier, within a 2-3 weeks it jump up to 550. So far no complaints, just have to wait and see what happens.
This card has been good to me. Never had any problems from them personally. I was late on a payment and as to be expected I was charged a late fee. When I went over my limit they worked with me to get rid of excess fees. I’ve gotten everything under control now and I see that they report each month to the credit bureaus.
Hi Derrick – Even when I don’t recommend a card to everyone, I love hearing that it worked out for someone. Sounds like your credit life is coming together. Good job!
I have horrible credit and can’t seem to even get an apartment! I stay with friends. Anyway my horrible story I was homeless…now I want to rebuild everything. My question is about this on p4 says I have 85 days to pay that$95fee. Can I pay the $75 now and the $95 next month and be ok? What do you think of my situation?
FROM BEING DENIED TO APPROVED FOR $1500 CREDIT. WOW! I cannot believe the negative reviews here. A majority of these reviews are from those who failed to provide a correct routing number or are 13 minutes later after the due date. Stop criticizing this bank, it is YOUR fault and YOU failed to agree with the terms, rate and fees. I have been with this card for 5 months and I have NEVER had a problem or had to contact customer support. This card helped me dramatically with my credit score.
I had a debt on my credit report that belonged to a relative with a similar name. I was denied for every single credit card because of that debt. At that time my TransUnion score was 540 and no Equifax score. I applied for a First Premier Bank credit card and was approved after I had verified my identity with a representative over the phone. That representative was extremely nice to me, had patience and spoke very well English. A week later they sent me my orange card with my name on it with a $300 limit. I never paid the $95 processing fee. Since I had the card on hand I paid the fee with my debit card and the credit card was activated immediately. I contacted the credit bureaus and they removed that debt I mentioned earlier after sending them documents. I had a perfectly clean credit score with only a few inquiries.
I started with $220 available credit since a $75 annual fee was deducted automatically and I registered an online account for a one-time $4.95 fee. Online statements weren’t available until a week later. My first bill came in two weeks later with a minimum payment of $30. I maxed out this credit card with only $3 left in credit, paid $100 with my debit card over the phone for FREE and was charged $5.65 in interest (36% APR). These fees were specifically on the terms and I was not charged for any additional fees within during the 6 months of use.
Within the first 3 weeks my TransUnion score went from 540 to 610! Another week later my Transunion score jumped to 620! After 5 months my Transunion is now 690 and my Transunion is 680. All with just ONE secured credit card. All you have to do is pay the minimum payment, THAT’S IT! I don’t understand why some people can’t follow that simple rule. Yes, I was a bit awry about the fees but I did it for the sake of my credit and guess what? I was JUST APPROVED for a $1500 credit limit with Capital One who DENIED me before I applied for this card. I don’t even need this card anymore, but as long as its open my score keeps going up and up. I recommend this card temporarily until you resolve your credit crisis.
Thank you First Premier Bank!
Thats my situation because Fingerhut but an invalid derogatory comment on my credit and caused my score to drop 20+ points and I was decline for a apartment right down the street. So now I’m homeless and need to boost my score up fast. For a whole year I have been paying my bills on time. I even have two capital one cards but Fingerhut screwed my credit even after they gave me a full refund.