keep First Premier or close?

[Anonymous]

Ive got a First Premier credit card that was my very first card. I got it because its the only thing my score at the time would let me get. I absolutley hate this card. It has a $250 SL which they refuse to increase. Ive had it for 7.5 years with perfect history except one late in 2014. I also have a capital one quicksilver SL of $2500 and a capital one platinum with a SL of $800. Last week I opened a Citi best buy card sl $1000, Wal Mart card SL $500, Chase freedom SL $500, and Cabelas SL $500. Im also getting a CLI on my quicksilver card. Should i just get rid of this FP or will it hurt my score bc its my oldest account? 

[Anonymous]

It will stay on your report for 10 years, so that won't hurt you. The only thing that could hurt is if you are carrying balances, the CL on that is contributing to your overall credit and helping your utilization, but with that number it's not doing much. I'd close it. 

[Anonymous]

Wow, I give you credit for dealing with them that long. Stop reading, pick up the phone and close it NOW. Please do not wait, please do not lose one bit of sleep over it.

You have much better cards! Have you closed it yet? If you can't tell, I despise predatory lenders..........

[Anonymous]

As long as there isn't a balance, you can safely close any card you have, even the oldest.  The 'don't close the oldest card' meme is pretty overrated in and of itself since any card you close stays with you for 10 years after the fact.  

Especially in cases of First Premier, Credit One and other 'subprime' banks (and I dare some store cards) I say close it at will when it no longer becomes useful to you. 

[OmarGB9]

Yes. Close it. Shred it. Burn the shredded remains in a ceremonial fire.

[Anonymous]

lol thats all the info i need. ill be closing it asap! thanks!