No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
Hi there, here's my credit profile:
1 student loan (opened in 09/08): 14k balance
1 car loan, 5.19% (opened 03/12): 12.9k balance
First Premier Platinum card
Date opened: 06/09
CL: $250 limit
Balance: $0
Walmart store card
Date opened: 09/09
CL: $1800 limit
Balance: $650 (just made a large purchase with 0% interest, will be paid off by June)
Capital One Platinum card
Date opened: 02/11
$500 limit
$350 balance (will be paid off by June)
Chase Freedom card
Date opened: 04/12
CL: $1500
Balance: $0
Never missed a payment
No baddies
According to Credit Karma, my average account age is 2 years, 5 months
I want to get rid of the First Premier card ASAP because it has a $7 monthly fee and an annual fee due in June. It has been paid off for a few months so it's really just costing me money at this point but I'm hesitant because it is my oldest account.
Also, Walmart has just offered me a switch to their Discover card with a balance of $2000. If I accept, this will close my current Walmart account and open a new one.
I want to accept the Walmart Discover offer AND close my FP account. However, these are my 2 oldest revolving credit accounts. So my question is:
* Is it a good idea to close the FP AND switch to the Walmart Discover? Or should I only close the FP and stick with the regular Walmart card?
Thanks!
I would suggest you close First Premier Card with the $7.00 monthly fee.
I would accept the offer for the change from Walmart to Walmart Discover.
Those closed accounts will remain on your report for ten years after closing
and will not harm you.
Go for it.
I have never been a fan of paying a fee to use a credit card.
@Cleanmachine wrote:I would suggest you close First Premier Card with the $7.00 monthly fee.
I would accept the offer for the change from Walmart to Walmart Discover.
Those closed accounts will remain on your report for ten years after closing
and will not harm you.
Go for it.
I have never been a fan of paying a fee to use a credit card.
I see, thanks for clarifying - I guess I didn't really understand how closing accounts works even after reading the post here about it. I'm definitely not a fan of paying to use a card either...at all...so I will close it ASAP. Thanks so much for the advice!