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Opened First Premier account and Orchard in 11/2009 when nobody would give me credit. Since then I've cleaned up my credit quite a bit, and added the following cards:
Amex gold, npsl
Cap1 Cash Rewards $2000 cl
Wells Fargo $4000 cl
Discover more, $1200 cl
Orchard has a $700 cl, I'm gonna call to see if they'll increase to $1000.
First Premier $375 cl
Can anyone think of a reason to keep it?
Does it have an AF?
Personally, I'd close it. It will still report positive for 10 years, and when it drops your other cards will have aged with it.
@-Cain- wrote:Does it have an AF?
Personally, I'd close it. It will still report positive for 10 years, and when it drops your other cards will have aged with it.
ok so im confused now.
if i close an account in good standing (0 balance)
it will still report and age? just like other open used accounts?
Current: Fico ScoresEQ~706 TU~719 EX 709 4/28/23 Inquiries (24 Months): EQ 0 TU 0 EX 0| Most Recent: A LONG WHILE | Buy A Home Earn Cash Back | Amex Zync(Unicorn) Chase Freedom$1500 Discover IT$7,400 Citi DC $10,000 Citizens Mastercard$7,000 |
Yes there is an AF, $7/ month
That card has done it's job and helped you out. Now it is just costing you $84 a year to hang on to. I'd axe it for sure.
Yes close the card you don't need it anymore and it will still report as good credit for 10 years.
@OlegWasHere wrote:
@-Cain- wrote:Does it have an AF?
Personally, I'd close it. It will still report positive for 10 years, and when it drops your other cards will have aged with it.
ok so im confused now.
if i close an account in good standing (0 balance)
it will still report and age? just like other open used accounts?
yes, accounts closed in good standing will continue to report for up to 10yrs. I think there is a sticky on this subject.
@Madman94044 wrote:Opened First Premier account and Orchard in 11/2009 when nobody would give me credit. Since then I've cleaned up my credit quite a bit, and added the following cards:
Amex gold, npsl
Cap1 Cash Rewards $2000 cl
Wells Fargo $4000 cl
Discover more, $1200 cl
Orchard has a $700 cl, I'm gonna call to see if they'll increase to $1000.
First Premier $375 cl
Can anyone think of a reason to keep it?
Nope, Axe it and don't look back!
I am in the "close it' camp as well. Save the $$ for the AF and enjoy the next 10 years of having it report positively on your reports.