topic Re: how to cancel CC in Credit Cards

how to cancel CC

pritchardhallhokie — Fri, 29 Oct 2010 10:36:23 GMT

So, I have two first premier cards and recently bit the bullet and app'd for an orchard and a cap 1 card. I got approved for 1k for orchard and 500 for cap 1. I don't even have the cards yet, probably next week. I currently have a gold and plat FP card with 250 and 350 CL both paid in full. When can I cancel them and is it recommended? I know the common sticky regarding closing credit cards but I just wondered what you guys would do to have the least negative impact on your scores in this situation. Thanks!

Re: how to cancel CC

203bravo — Fri, 29 Oct 2010 13:16:25 GMT

Congratulations on the new accounts and higher limits - I would personally wait for the new accounts to post and show the new credit lines prior to closing any other lines.

Re: how to cancel CC

Travis-84 — Fri, 29 Oct 2010 13:25:09 GMT

Do the cards have an annual fee? If there is no annual fee, why not keep them for a few more years. It will only help. Cut up the actual cards if you want, but leave the card open.

If there is an annual fee, then I would close it one month before the fee hits.

Re: how to cancel CC

pritchardhallhokie — Fri, 29 Oct 2010 13:40:22 GMT

Good advice and thanks for the response.

I think I'll let the new cards start reporting and cancel the FP cards as soon as that happens.

Thanks!!!!

75%Re: how to cancel CC

203bravo — Fri, 29 Oct 2010 16:02:03 GMT

Travis - the FP cards that I am aware of have a 75$ af that is billed monthly. that was the basis of my advice, otherwise I would have mirrored you.

Re: how to cancel CC

Anonymous — Fri, 29 Oct 2010 19:03:46 GMT

@pritchardhallhokie wrote:
Good advice and thanks for the response.

I think I'll let the new cards start reporting and cancel the FP cards as soon as that happens.

Thanks!!!!

I recently just closed both of my First Premier cards. I simply called the customer service number on the back of my card and requested that they both be cancelled.

They tried everything possible to get me to stay. But I just turned them down and requested that they be closed immediately.

About 1 week later, I received written confirmation about my cards closing. You can also log in about 10 minutes after you ask them to cancel the cards. It will show up online as well.

First Premier has to be the worst credit card company ever. It felt so good for me to be rid of them. Good Luck!