close FP card?

[Anonymous]

I started out around a year ago with scores in the 400'/LOW 500's...one of my 1st rebuilder cards was First Premier $300 SL, in addition at the same time got a $300 SC from Wells Fargo, & Finally a $49 for $300 limit Cap1 card. My scores are now in the 600's, I still have 5 baddies (started out with over 20(?), now...my cap1 card is at $2500 CL, 2nd cap1 card at $500, barclays $500, Discover at $1400, and an Express card & Overstock card (All the new cards are within the last few weeks, including the $2000 CLI from cap1-which was also upgraded to QS1)..oh & my WF is now still secured but at $500-under review for unsecured next month. I'm assuming my annual fee for First Premier should be coming up soon-should I just close it? I'm hesitating only because it DOES add an additional $300 to my avail. credit- helping my util. a bit. Is there any other benifit to keeping it open? do future lenders see having this sub-prime card as a negative thing? thank you for any feedback!

[Anonymous]

Im too lazy to put pen to paper for an exact number, but that $300 isn't helping your utilization much at all at this point. I, too, fell in the First Premier trap and though it is a predatory subprime card, it did serve its purpose for me when I couldn't get an approval elsewhere. Now I've increased my total credit like to around $7K. As soon as my balance transfer to my new DCU card is complete I'm closing it down. Taking a small hit on my AAoA is nothing compared to the money saved on their fees and less than stellar customer "service". 

I would say you've graduated to a new level and should close it! 

[Anonymous]

Close it. It has served its purpose.