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Regular Contributor
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
Valued Contributor
Posts: 1,611
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 730 08/15 (PSECU), TU08 699 05/15
Goal Score: 725+ across the board


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Valued Contributor
Posts: 2,297
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 709 3/15 Walmart Fico 743 4/15

Inquiries (24 Months): EQ 6 TU 1 EX 6 | Most Recent: 4/09/2015
Over 12 Months:9


2015 Goals:
Lower Utility
Earn Cash Back

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$7,400
Citi DC $10,000
Citizens Mastercard$7,000
Regular Contributor
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
Posts: 1,927
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 $5.25k | CSP $5k | Marriott $5k | AMEX TE $18k | Alaska $5k |
Starting Scores: EQ:571 EX:??? TU:597
Current Scores: EQ:694 EX:714 TU:711
Goal Scores: 700
across the board
Frequent Contributor
Posts: 278
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.

Lots of cards and counting !!
Las Vegas REALTOR
FICO 780ish Shooting for 800+
Valued Contributor
Posts: 1,927
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 $5.25k | CSP $5k | Marriott $5k | AMEX TE $18k | 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
Posts: 15,442
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
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
Posts: 436
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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