Now or next month to close account?

Anonymous · ‎09-24-2007

First Premier is showing PIF (gotta love BillPay). Opened the account in Nov '06, Next oldest is Home Depot (opened Jan '07 but reporting as of Apr 07)

Should I close now or wait until next month (giving it a full 12) and just BillPaying the $6 fee then closing?

Does it even matter?

Anonymous · ‎09-26-2007

Depends. Is it costing you a monthly or annual fee? Do you have "enough" other CCs with "enough" overall CL?

If you wanna post your CC limits, balances, APRs and the company, I and probably a few others will offer up a an opinion or two.

Anonymous · ‎09-26-2007

yes, there is a $6 monthly fee (annual due to post in Nov)

Citi 2500 CL 556 Bal - will clear all but $75 before Oct 8

Citgo 750 CL - 34.25 Bal - PIF on Oct 8

Exxon $150 CL - 45 Bal PiF on Oct10

HSBC 500 CL - 59 Bal - PIF on Oct 15 (sock drawer w/ 15 charged each month) and then PIF

Cap1 300 CL - 236 Bal - 0% thru Jan - paying 80 in Oct, rest in Nov & Dec then sock drawer w/ 15 each month PIF

JCP - 500 CL - 247 Bal - PIF Oct 20

Target CL 200 - Bal 22.18 - PIF on Oct 5

Home Depot 750 CL - 148 Bal - PIF next week

Pretty much have decided to leave it unti after the next statement (12 months reporting) and eat the $6

Anonymous · ‎09-26-2007

I'd give First Premier a call and ask 'em whether they'll convert the card into one with no monthly fee. If they say no, then I'd politely tell 'em you wanna close it. No since paying $6 a month when you have other CCs you can ask for CLIs to keep building.

Anonymous · ‎09-27-2007

After you PIF on the other ones, don't let util get up any more except 1 to 9 util- and then maybe in one or two months call and ask for CLI and APR reduction- but ONLY if they soft pull... unless you don't have any inq. to worry about

Anonymous · ‎09-27-2007

Thank you both.

Will not even consider keeping First Premier - promised myself last November only one year with them. They are a crappy card but they got me started so I really can't complain. I am one of the fortunate few that the high fees weren't an issue - I look at it as paying to get a FICO score.

asking for the CLI is in my plan starting with my oldest card (Exxon) and just running thru them 1 or 2 a month.(Soft pulls only though - I did tremndous damage to INQs getting the bloody things). So no hard pulls until next October and then only 1-3 spaced out (I have those in my plan already a Chase Realtor Visa and an AmEx Blue or Clear).

One of 3 baddies is gone (waiting on the other 2 after DV), a paid Tax lien that is aging gracefully is the only baddie I can't do anything about. Not sure if AmEx will take me with a paid tax lien though.

Message Edited by Lady_Scarlet on 09-27-2007 10:36 AM

Anonymous · ‎09-27-2007

. Not sure if AmEx will take me with a paid tax lien though.

Message Edited by Lady_Scarlet on 09-27-2007 10:36 AM

Amex is a funny bird- they took me for Blue for Students and then Clear this year w/ one tiny collection showing- however I have heard if you have sig. charge offs, BK or liens they will not. Unless you are a student and can apply thru a student card- I would wait on Amex.

Others may offer a different opinion.

Anonymous · ‎09-27-2007

PS- the collection was paid for 148 dollars- the exact amount owed.