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Keep It or Close It?

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TryingVeryHard
Frequent Contributor

Keep It or Close It?

I currently have a FIRST PREMIER BANK. They have reported 4 times already in my CREDIT PROFILE. No late, just high utilization 80-90% of the 250$ credit limit. Monthly fee is $7, even paying them I have to pay an additional $ for accepting online + checking online payment. With 0% APR.

I have been notified by HOOTERS that I have 1,000$ limit.

Should I pay off my FPB and close it?
Message 1 of 4
3 REPLIES 3
marty56
Super Contributor

Re: Keep It or Close It?

Unless you have had the card for a long time, I would drop it.  Now the you have a Hooters crad, you can continue to build your credit.
1/25/2021: FICO 850 EQ 848 TU 847 EX
Message 2 of 4
Anonymous
Not applicable

Re: Keep It or Close It?

if you have only had it 4 months, drop it! it's served it's purpose, now you've moved on to better products.
Message 3 of 4
haulingthescoreup
Moderator Emerita

Re: Keep It or Close It?

Pay it off, wait for the PIF to show up, then close it.

But keep an eye on your CC usage. If you've been carrying that high of a balance on a $250 CL card, you should get out of the habit. That's been hurting your scores. Good luck!
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 4 of 4
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