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Closing First Premier

Frequent Contributor

Closing First Premier

Hey Peeps,

 

Question! I have just paid First Premier infull and I am thinking about canceling it because of the fees.. I am not sure though, does FP charge monthly fees if at 0 Balance? I think they have a servcing fee. But anyways, I have my Cap 1 Secure, Cap 1 Cash Rewards and Orchard and some other tradelines. Two jewlers Kays and Weisfield and a fingerhut account that will be reporting so I don't think I need the FP anymore..

 

I am also about to put down 2500 for my cap 1 secure so in 2014 when I app for a discover and walmart I get a nice limit... In 2014 im gonna see what I can do with the cash rewards. I am in credit steps and it will go to 750 after 5 statements..

 

What is the best way to close this account, I don't want to close it and they hit me with a monthly fee and the card closes with a balance!!

BK: 7 filed 3/31/12 - Discharged 6/27/12
Made some poor choices and life snowballed
BK: 13 filed 7/29/16 - on a 36th month time out
No CC - No Loans - Student Loans all current.
Message 1 of 7
6 REPLIES
Valued Contributor

Re: Closing First Premier

Not sure what the terms are but if the are charging a monthly AF or maintenance fee or whatever they call it when you have a balance you can be sure you will still be charged when you are sitting on a $0 balance.

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Message 2 of 7
Frequent Contributor

Re: Closing First Premier

So, I do I close the card correctly?

BK: 7 filed 3/31/12 - Discharged 6/27/12
Made some poor choices and life snowballed
BK: 13 filed 7/29/16 - on a 36th month time out
No CC - No Loans - Student Loans all current.
Message 3 of 7
Valued Contributor

Re: Closing First Premier


ihatemyscore wrote:

So, I do I close the card correctly?


I would close the card and work on your other cards that have more favorable terms...

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Message 4 of 7
Frequent Contributor

Re: Closing First Premier

But if I want to close FP then how would I cose it with 0 balance. I will PIF but I hope they do not do somethin shady and add a monthly charge or put closed @ grantors request.

BK: 7 filed 3/31/12 - Discharged 6/27/12
Made some poor choices and life snowballed
BK: 13 filed 7/29/16 - on a 36th month time out
No CC - No Loans - Student Loans all current.
Message 5 of 7
Valued Contributor

Re: Closing First Premier

confirm it has a $0 balance close it and call the next day to confirm that it has been closed with a $0 balance....next month call back and make sure it is still closed with a $0 balance...its a lot of work but you never know with FP

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Message 6 of 7
Frequent Contributor

Re: Closing First Premier

See this is what scares me, because I have been working very hard for the last 8 months!

BK: 7 filed 3/31/12 - Discharged 6/27/12
Made some poor choices and life snowballed
BK: 13 filed 7/29/16 - on a 36th month time out
No CC - No Loans - Student Loans all current.
Message 7 of 7