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Member
Posts: 92
Registered: ‎04-04-2013
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Re: which card to close first???


tattooedhusker wrote:

If you need an order:

 

1. First Premier

2. Make sure First Premier is closed with a 0 balance

3. Triple check FP

3. Orchard

4. First National


I would overpay First Premier by $20 and close it.

Why? Because they've been known to tack on charges and ship your account to collections without notice in the past. I prefer to get a check back than a chance at a collections.

Established Contributor
Posts: 529
Registered: ‎10-25-2012
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Re: which card to close first???


rogersave wrote:

CLOSED FIRST PREMIER!!   Geez the guy begged me to keep it. It had a toy limit of 350 offered to raise cl to 550 I said no thanks. He actually mentioned this board lol. Said well if you look on myfico utilization is important etc. Then he was like well why dont you close discover, I laughed lol. I just kept repeating I would just like you to close the card please.  Feels great


I bet it feels wonderful to be done with them! I can't believe he suggested closing discover lol

NFCU CashRewards $13.5k | AMEX BCE $15k | Lowes $17k | Sportsmanss guide $7.6k | Chase Freedom $1k | Discover IT $4.4k |
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Valued Contributor
Posts: 3,406
Registered: ‎12-19-2012
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Re: which card to close first???

You may consider closing Orchard Bank after the transition is complete. I'm curious to see what replacement card Cap1 will send me and whether not their business practices regarding CLIs will change as they are granting sporadic increases through EO as part of some sort of financial experiment.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Frequent Contributor
Posts: 290
Registered: ‎08-29-2011
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Re: which card to close first???

If I may jump in I have a similar question. I have a FP with a 1500  limit and open since 2004. Not one missed payment. Has zero balance. I called in for a cli recently and the rep said she has worked there for years and never seen a limit that high. She also told me 1500 is the max I can have so no more cli. I also have a orchard from 2004 with no missed payments and a 2700 limit with a zero balance. Is having these two cards worth it. I see a post that amex holds it against you if you have these types of cards? Cut em loose or SD?

Regular Contributor
Posts: 104
Registered: ‎07-18-2011
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Re: which card to close first???

When will the transition be complete? The card has a 300 cl in my sd. My credit picture has vastly improved since I got the card. Unless they offered me something good and a nice cli I would prob just get rid of it.

Equifax 712 transunion 693experian 673
Chase freedom 500 Chase United explorer 5000 Discover IT 13000 AMEX PRG npsl AMEX BCE 6000 CSP 12000.AMEX ED 15000 Citi Simplicity 7000
Regular Contributor
Posts: 104
Registered: ‎07-18-2011
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Re: which card to close first???

Getting an AMEX is one of my goals, thats one of the reasons I cancelled FP because in reasons for denial it mentioned dont like doing business with people who have those cards

Equifax 712 transunion 693experian 673
Chase freedom 500 Chase United explorer 5000 Discover IT 13000 AMEX PRG npsl AMEX BCE 6000 CSP 12000.AMEX ED 15000 Citi Simplicity 7000
Valued Contributor
Posts: 1,673
Registered: ‎11-11-2012
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Re: which card to close first???


rogersave wrote:

In the last few months I have gotten a discover IT card and chase freedom(although a low limit) I have 3 other rebuilding cards all with 0 balance. The are first premier, orchard bank and first national. A couple months ago I applied for an AMEX green card and one of the reasons for denial was doing business with first premier(forget how it was worded) Was wondering which card would be best to close 1st. They def helped me rebuild in a time of need but have no use for them anymore. I appreciatte everyones opinion. Thanks!


Do you recall that they named FP as a reason?   I would think that would break some anti-competition laws, but maybe not.

Moderator Emeritus
Posts: 7,225
Registered: ‎09-16-2011
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Re: which card to close first???


rogersave wrote:

In the last few months I have gotten a discover IT card and chase freedom(although a low limit) I have 3 other rebuilding cards all with 0 balance. The are first premier, orchard bank and first national. A couple months ago I applied for an AMEX green card and one of the reasons for denial was doing business with first premier(forget how it was worded) Was wondering which card would be best to close 1st. They def helped me rebuild in a time of need but have no use for them anymore. I appreciatte everyones opinion. Thanks!


Close First Premier and First National Card.

Keep Orchard for now, as members have posted success with getting CLIs on these cards via Executive Office  now that they are owned by Cap 1


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
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Moderator Emeritus
Posts: 7,225
Registered: ‎09-16-2011
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Re: which card to close first???


aleicgrant wrote:

If I may jump in I have a similar question. I have a FP with a 1500  limit and open since 2004. Not one missed payment. Has zero balance. I called in for a cli recently and the rep said she has worked there for years and never seen a limit that high. She also told me 1500 is the max I can have so no more cli. I also have a orchard from 2004 with no missed payments and a 2700 limit with a zero balance. Is having these two cards worth it. I see a post that amex holds it against you if you have these types of cards? Cut em loose or SD?


Best to close First Premeir.

Leave Orchard open as long as you can keep them from charging an Annual Fee


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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Valued Contributor
Posts: 1,361
Registered: ‎02-07-2010
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Re: which card to close first???

[ Edited ]

FIRST PREMIER. AND THAT IS A DEFINITE CLOSE RIGHT NOW; THAT IS A TOXIC tradeline on your report.

 

also First National Bank (of Nebraska, right?), DO NOT CLOSE that unless its secured. that is a nice healthy tradeline on your report. if lenders manually review your report, seeing a bank that is reputable as first national bank of nebraska (also FNBO) will get you far. having healthy,non toxic, strong conservative banks reporting with no negative information is optimal for you.

 

i'd keep orchard open, (unless it is secured). it only helps to keep strong banks on your report as open. Capital One (owner of Orchard Bank) is a strong conservative bank to have open. unless it is not a card that will grow with you, i wouldn't close it.

EX BankCard 8 FICO 820 (250-900) 04/08/14
TU FICO 806 (350-850) 04/10/14
EX VT 3.0 805 (300-850) TU VT 2.0 891 (501-990)
Credit.com score 798 (300 - 850) TU transrisk 772
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