topic Re: First premier bank card in Credit Cards

First premier bank card

Anonymous — Thu, 17 Sep 2015 06:53:55 GMT

Hello every one
First full I want thanks every one here for sharing all the information without you guys I couldn't made it happens
Couple months ago when I join here been reading lots of article and experience from others here
And I did already posted some question befor and got a great answers from members here
I want thanks every one here for all information
I have a question here
My experian score right now is good 701
And I have couple credit card
I just start building up my credit
I had a credit card from first premier bank about 3 months old with 300$ CL
And has an annual fess of 95$ I believe
And I'm thinking to close it up and canceled it
Right now it is 0$ balance on card
So if I canceled it or close it would it hurt me my credit score
Would it drop my score down or not
I have utilize ratio of 22 %
And my credit available is 78%
Total credit limit is 19000$
And this first premier bank has gave me only 300$ CL and hug annual fees
If I canceled it would it hurt my credit
I only have it for 3 month old card
Thx you for all advice

Re: First premier bank card

Anonymous — Thu, 17 Sep 2015 07:08:25 GMT

you might take a very slight hit because of utilization going to 23% instead of 22, but close the card. It's not doing you and good and costing you money.

Re: First premier bank card

Anonymous — Thu, 17 Sep 2015 07:13:01 GMT

Thx you for the answer
The card has only 300$ CL
And I has it only for 3 months now
So
My available credit. Now is 19000$
So
You think I may take bit of hit if I close it
Is it bad to close it
Or should I leave it and swall up the fees
I have some may cards with history and CL is high and no annual fees
Amex for example 10000$

Thx you

Re: First premier bank card

Anonymous — Thu, 17 Sep 2015 07:19:08 GMT

I would definitely close it and ask them to take it off your reports.

Re: First premier bank card

Anonymous — Thu, 17 Sep 2015 07:21:35 GMT

The negligible, if any, hit to your FICO score isn't worth the fees you pay. Your score can easily be brought back to where it was and beyond that by paying down your current balances since utilization has a huge impact on scoring.

Plus the account will still report for 10 years after closure so no immediate impact to AAoA

Re: First premier bank card

Anonymous — Thu, 17 Sep 2015 07:29:40 GMT

That second part is the bad news, why ya gotta be like that! 😬

Re: First premier bank card

Anonymous — Thu, 17 Sep 2015 17:20:58 GMT

@Anonymous wrote:
That second part is the bad news, why ya gotta be like that! 😬

LOL good point