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So today I decided I wanted to get rid of my First Premier card that I have. (yes I know its bad, but it helped me out a bit) I didn't want to just close it because, although it has a low CL ($250), I like to have a credit card in case of an emergency. So I decided to apply for a cc with NO ANNUAL LIMIT ( I had no balance on the FPcard but I still got a bill every month for seven dollars I app for the Capital One MTV card and got approved for $500 cl !! Not too high but def better than the First Premier one! I am going to call to close it tomorrow! After this one I wil definately not apply for something for a good while.
A little bit of my credit profile: I am 21, First Premier: $250 cl; Wells Fargo Secured: $300; American Express Zync: $500 (just got it last month!! ); a few late payments in the past; Student Loans (deferred) $7500; Fingerhut $250.
Thanks to everyone on here, I rarely write but always read!
ps. I know technically it isn't good to close the acct because I will lose the history that comes with it, but I really don't want to be paying so much in fees. What do you guys think?
pps. I don't know how to update my signature thing but when I got the amex card they pulled eq and the letter said I had 613 eq fico
Congrats on the new cards!
In my opinion, there's no card that's worth a $7/month fee (well, aside from high-end cards, like CSP, but that's different)...especially with a $250 CL, so I'd definitely agree with getting rid of First Premier! Especially now that you have much better cards.
Congrats! I have that card. You should be in the credit steps program (you'll get a letter about it when your first statement cuts) and if you make your first 5 payments on time, they'll bump you up to $750
Your close card will still report for 10 years so it will still count in AAOA, so dont worry, by then you will have better cards, congrats