[hannah]

DS got a pre-approved offer from them yesterday. I had never heard of them so I Googled them and found a ton of complaints. The offer sucks: $69 annual fee, $39 application fee, and a ton of other fees. So if he took the card, he would owe $108 before he ever charged dollar one. In addition, the come on is 0% interest for 90 days.

Beware of this one guys...

[centex]

As soon as you saw the offer (which would have included the obligatory T&C disclosures), I am surprised that you even wasted the bandwidth to GOOG them. Annual fee, offer goes in the trash (exception being a case where the fee is expressly waived for the first year or two)...application fee, offer is rolled up to use as a fire-starter.

And if DS didn't bother to read the T&C before asking your opinion on the card, roll the offer up and bop him about the head several times

[magyar123]

They're not the only ones. First Premier is another one of them. These crooks offer low limit credit cards - $300 to $400, but their upfront fees add up to slightly less than the limit amount.
Also beware of outfits that "mask" the fees. While not immediately hitting you with the fees, they annualize the fees. With this method they split the annual fee + whatever other fees they impose into 12 equal amounts and bill you on a montly basis. And they will bill you for those fees even though after a few months you cancel them.

[roybean]

Originally Posted by magyar123

They're not the only ones. First Premier is another one of them. These crooks offer low limit credit cards - $300 to $400, but their upfront fees add up to slightly less than the limit amount.
Also beware of outfits that "mask" the fees. While not immediately hitting you with the fees, they annualize the fees. With this method they split the annual fee + whatever other fees they impose into 12 equal amounts and bill you on a montly basis. And they will bill you for those fees even though after a few months you cancel them.

They're an oldie, but goodie. You're right; they give you a $300 limit and you get a bill right off the bat for something like $281 and therefore you pay them for $79.00 available credit when you get the card.

I dealt with them before I knew anything about credit issues and I canceled within a few days. It is still on my credit report showing as paid as agreed, closed at custmer's request.
I've heard some people say it is the devil to get rid of them, but there is some tiny little writing that says you can cancel within 10days or something like that.
YOU HAVE TO READ THE FINE PRINT!!!

[hannah]

Originally Posted by centex

As soon as you saw the offer (which would have included the obligatory T&C disclosures), I am surprised that you even wasted the bandwidth to GOOG them. Annual fee, offer goes in the trash (exception being a case where the fee is expressly waived for the first year or two)...application fee, offer is rolled up to use as a fire-starter.

And if DS didn't bother to read the T&C before asking your opinion on the card, roll the offer up and bop him about the head several times

I was baking pies at the time and tried to be a good Mom and look at what he asked me to look at.