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I am happy to report that I have held my 1st premie card for 13 months just got the new bill with 45$ annual fee and 6.50 monthly service fee I know its a no brainer to close but this is my goal and picture. I was at Fico 756 in July I had only one card first premie 300 limit paid on time all time since OCt 11. Got new car lease Dicover 2,000 Cl Chase Freedom cl$500 lOWES 2,400 CL jCPENNY 1,800 cl rAAISED MY LIMITS ON dISCOVER TO 3,000 THIS PAST MONTH AND cHASE 1,000 sorry about caps Want to get Amex in Jan 2013 for 30 year backdate.Held card in High scholl through Dad. I should close immediately right. My discover and chase are near limits but will be paid in full b4 end of december since I have such a thin file and no guarantee for Amex backdating should I pay the fee on this card so I have a tradeline open and reporting for at least a year as the others are only about 6 months old???????????I have zero lates or baddies on any of my credit files.
Since you're looking to apply for AMEX soon, then I say YES, keep it open and pay the fee (i know how annoying it is, though, to be paying annual fees on subprime cards when you're already in prime range!) If you weren't planning to apply for another 6+ months, then closing it now would be acceptable and you can just wait until the other cards reach their 1 year!
I know Im in a catch 22 Amex hates first premier cardholders but Im afraid about the current administration in govt making changes to dodd frank and backdating being illegal I wonder if I get on as an AU on dads card now then try for backdate then apply in 6 months thoughts?
@annielorie wrote:I know Im in a catch 22 Amex hates first premier cardholders but Im afraid about the current administration in govt making changes to dodd frank and backdating being illegal I wonder if I get on as an AU on dads card now then try for backdate then apply in 6 months thoughts?
There's no real valid reason to keep FP from here on out. Axe it. You have better cards and their fees are not worth paying.
@annielorie wrote:I know Im in a catch 22 Amex hates first premier cardholders but Im afraid about the current administration in govt making changes to dodd frank and backdating being illegal I wonder if I get on as an AU on dads card now then try for backdate then apply in 6 months thoughts?
I think this idea that Amex won't approve you with a First Premier showing on your reports is overblown. I was approved for an Amex Green with two -- count 'em, two! -- First Premier cards showing on my reports. I'm sure that Amex looks at a lot of factors when deciding upon approvals, and having a FP is not automatic grounds for denial, if indeed it factors into their decision making process at all.
@tinuviel wrote:
@annielorie wrote:I know Im in a catch 22 Amex hates first premier cardholders but Im afraid about the current administration in govt making changes to dodd frank and backdating being illegal I wonder if I get on as an AU on dads card now then try for backdate then apply in 6 months thoughts?
I think this idea that Amex won't approve you with a First Premier showing on your reports is overblown. I was approved for an Amex Green with two -- count 'em, two! -- First Premier cards showing on my reports. I'm sure that Amex looks at a lot of factors when deciding upon approvals, and having a FP is not automatic grounds for denial, if indeed it factors into their decision making process at all.
I never got approved with good scores with first premier on the reports, They stated First Premier as a reason -_-;
@tinuviel wrote:
@annielorie wrote:I know Im in a catch 22 Amex hates first premier cardholders but Im afraid about the current administration in govt making changes to dodd frank and backdating being illegal I wonder if I get on as an AU on dads card now then try for backdate then apply in 6 months thoughts?
I think this idea that Amex won't approve you with a First Premier showing on your reports is overblown. I was approved for an Amex Green with two -- count 'em, two! -- First Premier cards showing on my reports. I'm sure that Amex looks at a lot of factors when deciding upon approvals, and having a FP is not automatic grounds for denial, if indeed it factors into their decision making process at all.
It is, they approved me with an open FP account.
@distantarray wrote:
@tinuviel wrote:
@annielorie wrote:I know Im in a catch 22 Amex hates first premier cardholders but Im afraid about the current administration in govt making changes to dodd frank and backdating being illegal I wonder if I get on as an AU on dads card now then try for backdate then apply in 6 months thoughts?
I think this idea that Amex won't approve you with a First Premier showing on your reports is overblown. I was approved for an Amex Green with two -- count 'em, two! -- First Premier cards showing on my reports. I'm sure that Amex looks at a lot of factors when deciding upon approvals, and having a FP is not automatic grounds for denial, if indeed it factors into their decision making process at all.
I never got approved with good scores with first premier on the reports, They stated First Premier as a reason -_-;
They specifically stated First Premier? How did they inform you of that; surely they didn't state First Premier by name directly on the denial letter, did they?
Well, if that's the case, then it still is very much a YMMV sort of thing. As I stated, I was approved with two FP cards on my reports. (Two FP cards -- what was I thinking!!! I've learned a lot since then, LOL!)
@tinuviel wrote:
@distantarray wrote:
@tinuviel wrote:
@annielorie wrote:I know Im in a catch 22 Amex hates first premier cardholders but Im afraid about the current administration in govt making changes to dodd frank and backdating being illegal I wonder if I get on as an AU on dads card now then try for backdate then apply in 6 months thoughts?
I think this idea that Amex won't approve you with a First Premier showing on your reports is overblown. I was approved for an Amex Green with two -- count 'em, two! -- First Premier cards showing on my reports. I'm sure that Amex looks at a lot of factors when deciding upon approvals, and having a FP is not automatic grounds for denial, if indeed it factors into their decision making process at all.
I never got approved with good scores with first premier on the reports, They stated First Premier as a reason -_-;
They specifically stated First Premier? How did they inform you of that; surely they didn't state First Premier by name directly on the denial letter, did they?
Well, if that's the case, then it still is very much a YMMV sort of thing. As I stated, I was approved with two FP cards on my reports. (Two FP cards -- what was I thinking!!! I've learned a lot since then, LOL!)
They quoted "Sub prime lenders" but besides HSBC and Achieva (local CU) reporting they were the only ones and we know those are ok =p