Okay so, to start off, I'll put the 'good' first: FPB provides you with regular credit increases "for a one-time fee" every time. That's not so out of the box for credit card targeted towards bad/fair credit scores, but just thought people might want to know about this if they're looking for some first time credit offers and come across First Premier.
Now the 'bad':
1. INSANELY high interest rates (36%. Yes you read that right. THIRTY-SIX PERCENT) (my credit score was 620 when I got my first FPB credit card).
2. "Application Fee" of $95. Yup. You have to pay them $95 to apply.
3. "Annual Fees" of $75.
4. "Monthly Maintenance Fees" WTF? (whatever they assign): Now this is what made me close the two FPB cards I had. I had $700 on each. I started paying off all my credit cards in full, and I started with the ones with the highest APR, so obviously FPB cards were the first ones I paid off. The following month, expecting to see a ZERO balance, I logged on (THANK GOD! I always check all my credit cards whether I pay them off or not as well as track them thru monthly FICO reports), and I saw a $14.50 and $8.00 balance on each card. I thought oh okay maybe that's what was left and my last balance didn't reflect it. So I paid the two fees. Then in the month of February, I log on to my account, and there they are again. I thought maybe my payment didn't go through. Checked my payment history and yup they went through alright. Called up customer service expecting to hear something down the line of 'the online account isn't reflecting the latest balance' (which has happened to me with other credit cards, so not an unrealistic expectation).
Instead the rep dropped me the following line: "That's your monthly maintenance fee". So essentially you can *NEVER* pay off your balance. Every month you'll have a balance that reflects whatever monthly fee they charge on you. I've had good and bad credit cards but I've never come across one that charges a MONTHLY fee.
Anyone just starting off, go with Indigo. Or Credit One.. If you have negative items on your credit report and are desperate. I guess you can get a FPB card if you REALLY need an urgent line of credit that you'll pay off immediately. Other than that, there's NO WAY and NO REASON why anyone should carry this crap more than a few months. Absolute sham.
oh and THEY DON'T ALLOW ANY BALANCE TRANSFER FROM THEIR END TO OTHERS. YUP. NO BALANCE TRANSFER.