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Regular Contributor
Madman94044
Posts: 142
Registered: ‎07-01-2012
0

Time to drop First Premier???

[ Edited ]

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?

Staring Score:EQ 649 TU 647 EX 644
Current Score: EQ 786 TU 699 EX 746
Goal Score: 800
Wallet: SF Fire CU $5000 CL Chase Freedom 4000 CL, Chase MP $5000, WellsFargo $6000 CL, Amex Gold NPSL, Cap1 CashRewards $2500 CL, Amex BCP $12000 Discover More $1200 CSP 18000
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Valued Contributor
-Cain-
Posts: 1,283
Registered: ‎04-06-2011
0

Re: Time to drop First Premier???

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. 


Starting Score: EQ 681 5/2011, EX 656 6/2011 (PSECU), TU98 642 6/2011
Current Score: EQ 741 12/2011, EX 734 11/2012 (PSECU), TU98 695 9/2012
Goal Score: 725+ across the board


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Valued Contributor
creditnocash
Posts: 2,255
Registered: ‎07-23-2012
0

Re: Time to drop First Premier???


-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: Discover Fico 701 10/14 Walmart Fico 689 9/14

Inquiries (24 Months): EQ 3 TU 0 EX 0 | Most Recent: 09/26/2014


2014 Goals:
Lower Utility
47%(OUCH!!)
Freedom Signature

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$2900
Citi Diamond Preferred$6000
Citizens Mastercard$7000
Regular Contributor
Madman94044
Posts: 142
Registered: ‎07-01-2012
0

Re: Time to drop First Premier???

Yes there is an AF, $7/ month

Staring Score:EQ 649 TU 647 EX 644
Current Score: EQ 786 TU 699 EX 746
Goal Score: 800
Wallet: SF Fire CU $5000 CL Chase Freedom 4000 CL, Chase MP $5000, WellsFargo $6000 CL, Amex Gold NPSL, Cap1 CashRewards $2500 CL, Amex BCP $12000 Discover More $1200 CSP 18000
Valued Contributor
j_casteel
Posts: 1,915
Registered: ‎06-21-2012
0

Re: Time to drop First Premier???

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.

| Walmart $5k | Amazon $5k | NFCU $20k | NLOC $15k | Lowes $17k | BoA $15k | Freedom $3k | IT $4.5k | CSP $5k | Marriott $5k | AMEX TE $9k | Alaska $5k |
Starting Scores: EQ:571 EX:??? TU:597
Current Scores: EQ:694 EX:714 TU:711
Goal Scores: 700
across the board
Regular Contributor
DeadSpider
Posts: 244
Registered: ‎07-29-2012
0

Re: Time to drop First Premier???

Yes close the card you don't need it anymore and it will still report as good credit for 10 years.

Cap1 QS $11500, Freedom $5000K, Slate $8000 Amex Sky $2000K, Discover IT $4400, BCE $8800, NFL $1500, Lowes $7000

Starting Score: 0
Current Score: 742
Goal Score: 800


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Valued Contributor
j_casteel
Posts: 1,915
Registered: ‎06-21-2012
0

Re: Time to drop First Premier???


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.

| Walmart $5k | Amazon $5k | NFCU $20k | NLOC $15k | Lowes $17k | BoA $15k | Freedom $3k | IT $4.5k | CSP $5k | Marriott $5k | AMEX TE $9k | Alaska $5k |
Starting Scores: EQ:571 EX:??? TU:597
Current Scores: EQ:694 EX:714 TU:711
Goal Scores: 700
across the board
Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
0

Re: Time to drop First Premier???


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!

 




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Moderator Emeritus
webhopper
Posts: 7,225
Registered: ‎09-16-2011
0

Re: Time to drop First Premier???

Close it, its done its job!

Grats on your new cards!

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



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Frequent Contributor
codimom
Posts: 395
Registered: ‎09-08-2010
0

Re: Time to drop First Premier???

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.

Back in the garden!
App free since 23Oct2012 reset to 27Aug13 and reset again 4nov13

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