First Premier

[creditwatcher2012]

Thanks to all the creat advice I got,

I made a huge mistake in applying for it at premier bank cc, I received the card today, considered keeping it if they waived all the fees for the first year.



Make a long story short, I cut the card up into tiny little pieces.


Made a total 1500.00 payment on my chase freedom, chase Bo, and Barclay card..(ref to other post)


Thank you allll

[Shogun]

Make sure there's no fees that go unpaid with that account.  

[Wolf3]

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@creditwatcher2012 wrote:
Thanks to all the creat advice I got,

I made a huge mistake in applying for it at premier bank cc, I received the card today, considered keeping it if they waived all the fees for the first year.



Make a long story short, I cut the card up into tiny little pieces.


Made a total 1500.00 payment on my chase freedom, chase Bo, and Barclay card..(ref to other post)


Thank you allll

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Cutting up the card does nothing.   You need to close the account.

[jsucool76]

+1

Dont make any purchases and call up and cancel your account asap.

[webhopper]

I'm glad to see you taking smart steps to improve your credit health. Good choice and like others have said; make sure you cancel the card account.

[Dustink]

Be very firm about getting all fee's removed and the account closed.

[creditwatcher2012]

Its cancled the chug at FP triehe handing me bull that its already reporting he was full of it because I was looking at my credit report as I was speaking to him...

first premiere is a bottlm feeder which I don't neeD 

[Anonymous]

Well the accounts like chase and boa they are really good prime lenders to work with. Now you need not to cut the card but to cancel that account from first premier as well for a simply fact that you have a lot better credit accounts.First premier is only for people with  bad credit.One more thing before we all rush on in here would be..What is your credit score at this point

[Anonymous]

I've been with myfirst premier for a while now, and I'm about to cancel. I'm paying somewhere around 7 dollars a month, and another 50 or 75 a year in annual fees. Do they have any credit cards without these fees for people to upgrade after they improved their credit?

I'm worried because one negative on my account already says I have short revolving history. This could be because I only have 3 cards, one I've had open since 2005, orchard bank(cap one now) this one isnt terrible but it's my oldest one so I don't want to cancel it. Next is my premier which is open since dec 2008, and the next is my NFCU I just opened last month. This one is by far my best one, no annual fees, cash rewards, 14k limit first real deal card. If I get rid of the premier I don't think my average age of accounts would change much. Is 2 cards ok or or will getting a third major CC help more even though it may reduce my average age of my revolving accounts?

For a short period of time my orchard bank card was closed, and I was paying it down(Once payed they opened it back up no problem this was a smart move). During that time my first premier credit card was my only card. I had a fradulent itunes purchase show up on my account so they canceled the card and sent me a new one. During this time my account showed up as closed on my credit report and my scores dropped somewhere in the area of 50-75 points, I've been nervous to close any accounts since. I'm sure this was because at the time it was my only card but still closing an account shouldn't drop your score that much I couldn't believe it.

[bs6054]

Closing an account with 0 balance doesn't impact average age of accounts, it does impact utilization.  But as the CL is so tiny, and you have a great card in the NFCU, that shouldn't have a large effect on your score at all.    I would cancel FP at once.

AFAIK, they don't have better cards, because their business model is "preying" on people with poor credit.  If you have a card like NFCU with a 14K limit, you DON'T need FP!