12-10-2012 02:01 PM
I am at about 14 months with First Premier it has served me well See siggy. A fee of 45$ a year plus a monthly fee is being billed. If I close this and its my oldest account does that hurt me with future cards. mI know it will report for 10 years but I fear that if I close my oldest open accoun t will be only 6 months. will that hurt my chances for amex in new year.
12-10-2012 02:04 PM
What hurts more? The "potentially" minor setback or the ridiculous fees from a predatory lender? I'd close it regardless, as long as you still have good revolvers.
12-10-2012 02:05 PM
I do have good revolvers but wondering if this sets off any warning bells with my current cc. My discover is 80% utilized but will be in check by end of month.
12-10-2012 02:14 PM
Maybe pay down the utilization on the Discover and as soon as you do that cancel the card. It doesn't necessarily matter that it's the oldest, because it's still going to report, but you lose the CL, and if you're currently at 80% utility on one card and close a $500 CL or whatever the FP is then you will be looking at a utilization crisis for a month or so.
12-10-2012 04:59 PM
|Chase Freedom $9500|
DCU Visa $10000
Capital One QS $2000
AMEX BCE $3000
|Lowe's CC $8500|
WalMart CC $3100
BOA Platinum $600
AMEX Gold NPSL
12-10-2012 06:19 PM
Now if only I was like Jutz and knew to link that.
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