topic Re: First Premier Question in Credit Cards

First Premier Question

LS2982 — Wed, 28 Dec 2011 11:26:36 GMT

I'm planning to call and close this account out on friday. Would it make more sense to pay it off and wait until april when it gets its full year of history or close it out now?

If there is no difference in wither time I want to close it friday.

Re: First Premier Question

Anonymous — Wed, 28 Dec 2011 11:52:45 GMT

You might need to keep one or two rebuilder card open despite unfavorable term and ludicrous AF. Why? Credit history is like building a bridge and if all bridge get cut off... start again. That means series of 24 green squares from first premier actually worths more than 6 greens from barclay for FICO scoring regardless of how first premier being percieved. If I were you, I would keep 2 cards that have been open longest for now.

Re: First Premier Question

LS2982 — Wed, 28 Dec 2011 14:40:26 GMT

I have other accounts that have 6 months of history right now (4 of them). others have 5 or 4 months. My FP card has 9 months right now. I also have a closed Cap1 card with same history as FP. I dont know AAoA wise if FP being closed will hurt me or not, but im real anxious to get rid of them now that I have a prime card. I'm really tired of paying them 11 dollars to make a payment too. i dunno i need some expert advice! help a mn trying to make it in the credit world! lol

Re: First Premier Question

visorboy1974 — Wed, 28 Dec 2011 14:41:28 GMT

Close it and rid yourself of the FP stigma.

Re: First Premier Question

CS800 — Wed, 28 Dec 2011 14:47:22 GMT

@LS2982 wrote:
I have other accounts that have 6 months of history right now (4 of them). others have 5 or 4 months. My FP card has 9 months right now. I also have a closed Cap1 card with same history as FP. I dont know AAoA wise if FP being closed will hurt me or not, but im real anxious to get rid of them now that I have a prime card. I'm really tired of paying them 11 dollars to make a payment too. i dunno i need some expert advice! help a mn trying to make it in the credit world! lol

Closing the card itself in will not affect your AAoA. It will affect your util since the CL from the FP card will no longer be factored into your available credit.

The FP card itself will still report up to 10 years i believe. So if you can afford to lose the CL on this card go ahead and close it.

Re: First Premier Question

aussiesareforever — Wed, 28 Dec 2011 14:48:23 GMT

I vote that you should close it.

Re: First Premier Question

Anonymous — Wed, 28 Dec 2011 14:57:59 GMT

Close it close it I just kicked my cap one secured card to the curb and it felt great

Re: First Premier Question

LS2982 — Wed, 28 Dec 2011 16:52:47 GMT

Yes, the axe will layeth across 1st premier friday!!

Re: First Premier Question

chan85 — Wed, 28 Dec 2011 19:49:13 GMT

@LS2982 wrote:
I have other accounts that have 6 months of history right now (4 of them). others have 5 or 4 months. My FP card has 9 months right now. I also have a closed Cap1 card with same history as FP. I dont know AAoA wise if FP being closed will hurt me or not, but im real anxious to get rid of them now that I have a prime card. I'm really tired of paying them 11 dollars to make a payment too. i dunno i need some expert advice! help a mn trying to make it in the credit world! lol

I though as part of the new credit card rules they can't charge to make a payment? Are you doing express payments or paying with a debit card??

Re: First Premier Question

FicoScore626 — Wed, 28 Dec 2011 19:55:15 GMT

@LS2982 wrote:
I have other accounts that have 6 months of history right now (4 of them). others have 5 or 4 months. My FP card has 9 months right now. I also have a closed Cap1 card with same history as FP. I dont know AAoA wise if FP being closed will hurt me or not, but im real anxious to get rid of them now that I have a prime card. I'm really tired of paying them 11 dollars to make a payment too. i dunno i need some expert advice! help a mn trying to make it in the credit world! lol

Holy krap, $11?? I thought it was $7.99 to make payments through their site?

Another possible problem of waiting for the card to hit the 1 year mark is that you might also have to deal with their annual fee.

I closed my First Premier account right before it hit the 2 year mark and before they came for their annual fee. My strategy was to overpay the account by $15.00 and then close it. That way I was covered if I got nailed by their $7.99 monthly fee shenanigans. They ended up sending me a check for the remaining $15.00...

Re: First Premier Question

Anonymous — Wed, 28 Dec 2011 19:53:54 GMT

YES PLEASE CLOSE THAT ACCOUNT!!

Re: First Premier Question

lithium78 — Wed, 28 Dec 2011 19:54:44 GMT

First Premier is a cancer upon the world. I vote that you dump them. If you need another rebuilder card, you should get a secured card. First Premier is basically a company that kicks people while they are down.

Re: First Premier Question

LS2982 — Wed, 28 Dec 2011 21:21:08 GMT

I've been thinking about it for most of the day, And I think I'm gonna keep it open until april so I can get that full year and close it. I think CreditOne has earned their closure this month with no grace period for interest.

Im definitely not keeping it past a year, they're not getting me for a AF and monthly fee.

Re: First Premier Question

quest208 — Wed, 28 Dec 2011 21:26:27 GMT

@LS2982 wrote:
I've been thinking about it for most of the day, And I think I'm gonna keep it open until april so I can get that full year and close it. I think CreditOne has earned their closure this month with no grace period for interest.

Im definitely not keeping it past a year, they're not getting me for a AF and monthly fee.

monthly fee? what? you mean interest?

Re: First Premier Question

LS2982 — Wed, 28 Dec 2011 21:29:11 GMT

@quest208 wrote:
@LS2982 wrote:
I've been thinking about it for most of the day, And I think I'm gonna keep it open until april so I can get that full year and close it. I think CreditOne has earned their closure this month with no grace period for interest.

Im definitely not keeping it past a year, they're not getting me for a AF and monthly fee.
monthly fee? what? you mean interest?

Once you've had the card over a year they charge a $6.50 "Maintenace fee" monthly.

Re: First Premier Question

CS800 — Wed, 28 Dec 2011 21:32:19 GMT

@LS2982 wrote:
@quest208 wrote:
@LS2982 wrote:
I've been thinking about it for most of the day, And I think I'm gonna keep it open until april so I can get that full year and close it. I think CreditOne has earned their closure this month with no grace period for interest.

Im definitely not keeping it past a year, they're not getting me for a AF and monthly fee.
monthly fee? what? you mean interest?
Once you've had the card over a year they charge a $6.50 "Maintenace fee" monthly.

Man the fees !!

you should have checked the terms and conditions well. Maybe they also request your kidneys if you fail to pay?

Re: First Premier Question

LS2982 — Wed, 28 Dec 2011 21:34:36 GMT

@CS800 wrote:
@LS2982 wrote:
@quest208 wrote:
@LS2982 wrote:
I've been thinking about it for most of the day, And I think I'm gonna keep it open until april so I can get that full year and close it. I think CreditOne has earned their closure this month with no grace period for interest.

Im definitely not keeping it past a year, they're not getting me for a AF and monthly fee.
monthly fee? what? you mean interest?
Once you've had the card over a year they charge a $6.50 "Maintenace fee" monthly.
Man the fees !!

you should have checked the terms and conditions well. Maybe they also request your kidneys if you fail to pay?

I did read the T&C and the only fees I ever had with the card was the express pay $11 fee to pay over the phone. So if you use it responsibly for a year as a rebuilder its just as good as a Crap1 / HSBC.

Re: First Premier Question

CS800 — Wed, 28 Dec 2011 21:35:41 GMT

@LS2982 wrote:
@CS800 wrote:
@LS2982 wrote:
@quest208 wrote:
@LS2982 wrote:
I've been thinking about it for most of the day, And I think I'm gonna keep it open until april so I can get that full year and close it. I think CreditOne has earned their closure this month with no grace period for interest.

Im definitely not keeping it past a year, they're not getting me for a AF and monthly fee.
monthly fee? what? you mean interest?
Once you've had the card over a year they charge a $6.50 "Maintenace fee" monthly.
Man the fees !!

you should have checked the terms and conditions well. Maybe they also request your kidneys if you fail to pay?
I did read the T&C and the only fees I ever had with the card was the express pay $11 fee to pay over the phone. So if you use it responsibly for a year as a rebuilder its just as good as a Crap1 / HSBC.

Do they call it a 'convenience fee' ?

Re: First Premier Question

Anonymous — Wed, 28 Dec 2011 21:50:24 GMT

http://blog.premierbankcard.com/

Here you can read how the "terrible" decisions of the federal reserve board have taken away jobs from Americans who work for FP and have also deprived millions of Americans of the precious opportunity to rebuild their damaged credit with this institution.

Laughable to say the least!

Re: First Premier Question

LS2982 — Wed, 28 Dec 2011 22:04:12 GMT

@Anonymous wrote:
http://blog.premierbankcard.com/

Here you can read how the "terrible" decisions of the federal reserve board have taken away jobs from Americans who work for FP and have also deprived millions of Americans of the precious opportunity to rebuild their damaged credit with this institution.

Laughable to say the least!