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Does anyone know about First Premier Credit cards?

I have no credit and my credit score is bad. I've never had a credit card or a loan, but apparently with that lack of a line of credit and no bills in my name. My credit score is lowering drastically despite that. ( I do have some unpaid medical bills)

What do I do?

Answer Question
 
Anonymous

Asked by Anonymous at 12:14 PM on May. 12, 2011 in Money & Work

Answers (8)
  • Don't apply for a "secured" credit car. Don't get one that has an annual fee. Instead - apply for one with a higher interest rate that isn't "secured" or have an annual fee (You can negotiate your interest rate later). Make a single in expensive purchase and pay off the balance in its entirety before your billing date. Do that for a few months and it will help your credit rating. Don't ever charge more than you can afford to pay off at the end of the month. And start working on chucking off those medical bills. As the hospital/doctor's office to work with you on a payment plan.
    twinsplus2more

    Answer by twinsplus2more at 12:17 PM on May. 12, 2011

  • They are really a horrible idea. I had one trying to rebuild and the interest rate is through the roof. I had it for two years and kept it paid down only to be hit with a $149 service fee a year into it. I lost my job and had signed up for unemployment insurance through the company and they did not honor it. I owed them all of $220 including that $149 fee and they tried to charge me more than $600.
    Anonymous

    Answer by Anonymous at 12:17 PM on May. 12, 2011

  • "Card" not car. "Inexpensive" not in expensive .....hate not being able to edit when I'm not on my computer.
    twinsplus2more

    Answer by twinsplus2more at 12:23 PM on May. 12, 2011

  • Start by paying off all past bills. Then put some money in the bank. Then, if you plan on buying a house in the near future, start worrying about credit score. Or, find a bank that does manual underwriting. They look at the entire picture not just the credit score.
    Candi1024

    Answer by Candi1024 at 12:34 PM on May. 12, 2011

  • I'd get together with whoever you owe the medical bills to and make payment arrangements, then be sure you keep to the agreement in making your payments. You could also purchase something from a Rent to Own type of business, make your payments on time until you OWN the item. (nothing big, something you could own in say 6 months worth of payments). Credit cards can actually get you into far more debt really fast. The interest rates are usually high and then there are those yearly fees. They really are not a good way to build your credit rating
    meriana

    Answer by meriana at 12:36 PM on May. 12, 2011

  • I just checked first premier and it was like 50% APR.
    but capital one has a secured credit card at 22%
    Anonymous

    Comment by Anonymous (original poster) at 12:37 PM on May. 12, 2011

  • The medical bills are about 5 years old.
    Anonymous

    Comment by Anonymous (original poster) at 12:39 PM on May. 12, 2011

  • Renting to own seems like the opposite way I want to go. I don't need any furniture. I just want to build up my credit so that at some point we can buy a house. What I was thinking of was getting a secured card and then just using it pay for monthly stuff that I pay cash with and paying it off right away.
    Anonymous

    Comment by Anonymous (original poster) at 1:07 PM on May. 12, 2011

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