There's no such thing as bleed in video. Your source video is at a different aspect ratio than your sequence; what are the dimensions of your footage and of your sequence?
Scale to Frame Size works by scaling the video in a sequence frame until it is able to show the entire video image; if it hits a boundary (sides or top and bottom) before completely filling the frame, it will stop scaling. It won't ever stretch, squeeze, or otherwise distort the video image. In cases like that--if your source footage and sequence are different aspect ratios--you're better off using the intrinisic (that is, built-in to every clip) Motion > Scale effect. Select the clip, bring the Effects Controls panel forward, and swivel open the Motion effect; drag the Scale parameter up or down until you fill the frame and eliminate the black bars.
Check out this video for more: How do I get rid of black bars around my movie? - Premiere Pro: Frequently Asked Questions
There's no such thing as bleed in video.
Thank you. I had no idea what the OP was talking about.