topic Re: First Premier in Credit Cards

First Premier

first48 — Fri, 26 Sep 2008 03:14:36 GMT

I have made a year with First Premier and I am ready to close them. I am tired of the fees and I have obtained other cards with better limits and less fees. Will this hurt my score if I close them? I only owe 150.00 which I can pay off tomorrow.

Re: First Premier

creditreformer — Fri, 26 Sep 2008 05:27:57 GMT

my score went up roughly 20 points when i closed fp. however, as w/anything, ymmv. some have reported no change and others have reported minimal loss in points (sort of like when you get inqs).

Re: First Premier

Anonymous — Fri, 26 Sep 2008 05:46:14 GMT

You MAY lose a few points age-wise and if the loss of credit affects your utilization.

You WILL, however, get the points back in time. Unless you're still actively seeking credit, a few lost FICO points is worth the $$$ you'll save in fees and the joy you'll experience from dumping FP, IMO.

Message Edited by lurknomore on 09-25-2008 10:46 PM

Re: First Premier

Anonymous — Fri, 26 Sep 2008 05:46:21 GMT

If there is a drop, I'd say it's still worth it to get out of their crazy fee schedule. And their piddly credit card limit doesn't exactly give reason to stay either. If you've already got a different card or two, it's time send First Premier to the curb.

Re: First Premier

first48 — Fri, 26 Sep 2008 15:07:30 GMT

Thanks everyone, I am going to close them today. I have 4 other credit cards I can use and I could definitely do without the fees.

Re: First Premier

first48 — Fri, 26 Sep 2008 15:23:58 GMT

I just called FP to cancel my account and of course I was transferred to an account specialist. I went through the spill about the high fees, the low limit, yada, yada, yada. Anyway I was given a 45.00 credit to use as I please that is supposed to post to my account by midnight tonight. I am going to make a payment today and once that other money posts, I will close my account.