First Premier Credit Card?

[Anonymous]

My husband has one with a $300. We are planning on paying it off and closing it because I hear that it's a horrible card. It is really helping boost our credit though. Can someone tell me why exactly it's a horrible card and which one we should trade it in for? My husband has that one and an Orchard Bank card. His score is 611 last time we checked. His new score will be showing up at the end of this month. Thank you so much.

[Wolf3]

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@Anonymous wrote:

My husband has one with a $300. We are planning on paying it off and closing it because I hear that it's a horrible card. It is really helping boost our credit though. Can someone tell me why exactly it's a horrible card and which one we should trade it in for? My husband has that one and an Orchard Bank card. His score is 611 last time we checked. His new score will be showing up at the end of this month. Thank you so much.

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I am one of the big critics of First Premier.

The bad thing about First Premier is the cost.   The fees are very high, they even have a fee for increasing the Credit Limit. 

Since it reports to all 3 CB, it will help build your credit history just like any onther card, no better, no worse.   

Now that your husband has it, and has already paid the startup fees, it may not be good to cancel right away.   How old is each card? and what are limits?   He may want to get another card before cancelling this one.

[Anonymous]

We've only had them for 3-4 months. Do you know another good card he can get with is credit score?

[Wolf3]

Are either one of these secured cards?

[vish1]

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@Anonymous wrote:

We've only had them for 3-4 months. Do you know another good card he can get with is credit score?

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I will say secured card with a CU or BofA. Try BofA only if you have no recent baddies.

[Chaos122]

I agree with the other folks, since youve allready payed all the start up fees plus the first anual fee, you should go ahead and keep the card at least untill the 11th month, then cancel it before the next annual fee.  I had premier for 2 years and i finnaly got rid of it in december, yay me!