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First Premier...DO I

Valued Contributor

First Premier...DO I

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.


Starting Score: 0
Current Score: TR??FICOEQ ?? FICO
Goal Score: 760

Lowes7,000 Discover More 2800. Jcpenny 6,000
Chase freedom 800 Never take NO for an answer!!
Message 1 of 19
18 REPLIES
Valued Contributor

Re: First Premier...DO I

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!


Quicksilver WMC $20k | JCPenney Platinum $10k | Drive for Five $800 | Freedom VS $5k | TD Cash VS $5k | CFU VS $14.8k | Blue Sky $13.7k | IT $28k | SavingStar $14.8k | BCE $11.3k | Macy's AMEX $7.2k | BuyPower WEMC $7.5k | CSR VI $13.3k | Diamond Preferred $6.5k FICOS: EX 775 EQ 764 TU 759 VantageScore 3.0: EX 759 EQ 757 TU 762
Message 2 of 19
Valued Contributor

Re: First Premier...DO I

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?


Starting Score: 0
Current Score: TR??FICOEQ ?? FICO
Goal Score: 760

Lowes7,000 Discover More 2800. Jcpenny 6,000
Chase freedom 800 Never take NO for an answer!!
Message 3 of 19
Mega Contributor

Re: First Premier...DO I


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.

 




EQ FICO 548 3/3/16
Message 4 of 19
Valued Contributor

Re: First Premier...DO I

Got it schedule the burning for the 11th of December. Ls looks like the garden has been good to You nice scores keep ar it


Starting Score: 0
Current Score: TR??FICOEQ ?? FICO
Goal Score: 760

Lowes7,000 Discover More 2800. Jcpenny 6,000
Chase freedom 800 Never take NO for an answer!!
Message 5 of 19
Moderator Emeritus

Re: First Premier...DO I


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.


Current Scores: EQ 775 (03/04/2014), EX 756 (03/01/2014), TU 760 (03/01/2014)
Ruby Spade Garden Club Member - Last App: 03/04/2013 - No apps until 2014
Cards: Cap1 Venture 6.4k, Cap1 Quicksilver MC 1.75k, BankAmericard 1-2-3 Visa Signature - UCF Alumni Association 5k, Discover 7k, Citi Diamond Preferred MC 10.35k, Wells Fargo Rewards Visa 7k, Chase Freedom 5k, Chase Ink 7.5k, Amex Green NPSL, Dillard's Amex 7.5k, JC Penney 7.5k, Kay Jeweler's 5.1k
Message 6 of 19
Established Contributor

Re: First Premier...DO I


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 -_-;


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Message 7 of 19
Mega Contributor

Re: First Premier...DO I


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.

 




EQ FICO 548 3/3/16
Message 8 of 19
Moderator Emeritus

Re: First Premier...DO I


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!)

 


Current Scores: EQ 775 (03/04/2014), EX 756 (03/01/2014), TU 760 (03/01/2014)
Ruby Spade Garden Club Member - Last App: 03/04/2013 - No apps until 2014
Cards: Cap1 Venture 6.4k, Cap1 Quicksilver MC 1.75k, BankAmericard 1-2-3 Visa Signature - UCF Alumni Association 5k, Discover 7k, Citi Diamond Preferred MC 10.35k, Wells Fargo Rewards Visa 7k, Chase Freedom 5k, Chase Ink 7.5k, Amex Green NPSL, Dillard's Amex 7.5k, JC Penney 7.5k, Kay Jeweler's 5.1k
Message 9 of 19
Established Contributor

Re: First Premier...DO I


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


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Message 10 of 19