Canceled First Premier!!!

[tinuviel]

I understand that subprime cards don't come with all of the perks of prime cards, but I've always found FP to be subprime among the subprimes. My credit has improved significantly as of late, and I've been looking forward to parting ways with FP. I've kept them strictly to help with my util as I pay off some outstanding debt on old, closed out cards. I'm happy to say that I'm getting close to having everything paid off, and I told myself that since I just got approved for a Dillard's AMEX, the CL from the new card would easily replace the CL on FP for util purposes.

Well, the Dillard's AMEX just posted to the CRAs -- that was fast!!! Yesterday my JCP card posted, as well. So, I just called up and canceled FP! I was transferred to a gentleman who tried very hard to convince me that canceling was not in my best interest -- they help to build credit, length of time an account has been opened counts towards 10% of score, etc... I kept politely explaining that I realized all of this and still wished to cancel. He kept trying to ask about what other cards I had and how FP might have even better benefits (LOL!!!). After all, my FP account has no AF. I told him that a monthly account maintenance fee winds up being the same as an AF, just paid out monthly. I persisted, and he offered to waive the monthly fee for 9 months. I still insisted on canceling. At that point, his tone became terse and he FINALLY went ahead and canceled the account. Whew!!!

I have a second FP that I opened last year (I regret having done so, but it was a moment of weakness). Since I paid the entire AF upfront, I'm going to wait until Aug to cancel that one; I might as well get a full year's worth of reporting from it.

This was a very liberating experience! My credit may have a ways to go yet, but I'm so proud of how far I've managed to come in the space of the last several months! Getting rid of FP feels like the first few steps towards moving out of subprime-land, and I intend to keep moving steadily in that direction.

[llecs]

Any special plans to kill the card? Funeral service and burial? FP Card Roast over an open, flaming pit? Salute through the shredder?

[tinuviel]

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@llecs wrote:

Any special plans to kill the card? Funeral service and burial? FP Card Roast over an open, flaming pit? Salute through the shredder?

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I'm waiting until my CRA reports update, so that I can make sure that it reports correctly. After that... I'm open to ideas! I like the salute through the shredder!

[favre_2_free]

I got extreme joy out of taking a scissors and slicing into 20 or so pieces...much more than if I had put it through a shredder.....

[vish1]

@tinuviel: I like your words saying "I've always found FP to be subprime among the subprimes"

[creditguy-378]

Congrats on the cancelation!!!!They are in a catagory to themselves they make the subprime cards look even worse than they are!!!!!!!!!!! I heard on clark howard the other day some guy had a FP card with a 79.9% APR he even said are they serious!!!!! FP should be shut down for practices like that  

[vish1]

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@creditguy-378 wrote:

Congrats on the cancelation!!!!They are in a catagory to themselves they make the subprime cards look even worse than they are!!!!!!!!!!! I heard on clark howard the other day some guy had a FP card with a 79.9% APR he even said are they serious!!!!! FP should be shut down for practices like that  

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Cap1 must thank FP. FP makes Cap1 look prime.

[tinuviel]

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@vish1 wrote:

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@creditguy-378 wrote:

Congrats on the cancelation!!!!They are in a catagory to themselves they make the subprime cards look even worse than they are!!!!!!!!!!! I heard on clark howard the other day some guy had a FP card with a 79.9% APR he even said are they serious!!!!! FP should be shut down for practices like that  

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Cap1 must thank FP. FP makes Cap1 look prime.

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+1! FP has made it EASY for me to like Cap1!!!