Really wanting to close First Premier (updated CLOSED)

[Anonymous]

Yay! It's closed. They didn't even care much about losing a customer. They offered to waive my $49/year fee for 1 year. I said still for a $700 CL and paying $14.50/month the card wasn't of value to me. Tonight I shall take extreme joy in burning the card.

[joltdude]

Keep a copy of the account number and card number somewhere.. You are going to want to check to make sure its closed sometime next month.

[Anonymous]

I just closed mine a few minutes ago.  They offered me a - wait for it - $200 CLI for a $35 "credit limit increase charge".  Went on and on about how "I've been a great customer, never missed a payment, and was exactly the kind of person they love..." etc etc.  Then pulled the "well if you close the card, you're score is going to take a hit because of the AAofA."  Ugh.. Eventually they gave in and closed the account.  This was my first card post BK - and it served its purpose.  I probably held on to it too long.  I feel like I just stepped out of the shower.

[Anonymous]

They did the same thing to me. Really was funny when the offered the cli for a fee.

[Anonymous]

I just closed mine a few minutes ago!!!! My experience in doing so was awful!

Me: Hi, I'd like to close my credit card at the customer's request.

CSR: Mam, you just made a significant payment, which shows you are using the card.

(I never use the card. I can never get ahead of the 36% interest rate!)

Me:Yes, I did just make a big payment so I can pay the card off and close it, which is why I'm calling. I'd like to close my card, please.

CSR: Mam, you have only had the card a year and you are going to take a siginificant hit to your credit score.

Me: I realize that this will imapct my credit score and I have researched that in depth and I's still like to close my card, please.

CSR:  Mam, why would you like to close the card.

Me: The card has served it's purpose, which was for me to establish credit. Now that I've done so I have aquired other cards that offer lower interested rates, give rewards and do not charge an annual fee. As you can see this card is costing me money and it does not make sense for me to keep it.

CSR: Yes mam, but you signed up for those terms when you accepted the card agreement. You knw what the interest rate would be and that there would eb an anual fee.

Me: Yes, I was aware and now I'd like to close it as I no longer need it.

CSR:  Mam, your credit will be affected by this and it sounds like you are trying to build your credit. 

Me: Yes, I am aware of this and I'd like to close the account today. 

CSR:  We can offer you a $25 credit to your account if you keep it open.

Me: This account costs me an annual fee and 36% in interest every month. $25 will not help, but thank you for offering.

CSR: Yes mam, but you  have only had the card for a year and you signed up for those terms when you accepted the card agreement. You knw what the interest rate would be and that there would eb an anual fee.

Me: Do the terms indicate I must keep the card until I die?

CSR:  Your account is closed

Then he hung up on me. Now I wait and I'll see what happens when I log in next month to my account. 

[baller4life]

Wow! What scumbags!! I am so thankful I never had to deal with them or Credit One!! Thank you Navy Federal!!! 💜

[Dalmus]

I know this is an old thread...  But WAY back when I also had a card like First Premier (Continental, actually, if anyone remembers that one!).  When I got to the point I wanted to close it, I paid it to $0, and had to do a similar song and dance before it was closed.

Then the following month I got a statemet showing I was charged interest for the daily balance I had before I PIF and had to dance a little more to make sure I really was at $0.

They serve their purpose if that's all you can get, but MAN, they are rough to escape from!

[Loquat]

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@Anonymous wrote:

I just closed mine a few minutes ago!!!! My experience in doing so was awful!

Me: Hi, I'd like to close my credit card at the customer's request.

CSR: Mam, you just made a significant payment, which shows you are using the card.

(I never use the card. I can never get ahead of the 36% interest rate!)

Me:Yes, I did just make a big payment so I can pay the card off and close it, which is why I'm calling. I'd like to close my card, please.

CSR: Mam, you have only had the card a year and you are going to take a siginificant hit to your credit score.

Me: I realize that this will imapct my credit score and I have researched that in depth and I's still like to close my card, please.

CSR:  Mam, why would you like to close the card.

Me: The card has served it's purpose, which was for me to establish credit. Now that I've done so I have aquired other cards that offer lower interested rates, give rewards and do not charge an annual fee. As you can see this card is costing me money and it does not make sense for me to keep it.

CSR: Yes mam, but you signed up for those terms when you accepted the card agreement. You knw what the interest rate would be and that there would eb an anual fee.

Me: Yes, I was aware and now I'd like to close it as I no longer need it.

CSR:  Mam, your credit will be affected by this and it sounds like you are trying to build your credit. 

Me: Yes, I am aware of this and I'd like to close the account today. 

CSR:  We can offer you a $25 credit to your account if you keep it open.

Me: This account costs me an annual fee and 36% in interest every month. $25 will not help, but thank you for offering.

CSR: Yes mam, but you  have only had the card for a year and you signed up for those terms when you accepted the card agreement. You knw what the interest rate would be and that there would eb an anual fee.

Me: Do the terms indicate I must keep the card until I die?

CSR:  Your account is closed

Then he hung up on me. Now I wait and I'll see what happens when I log in next month to my account. 

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I love it!  Congrats on ridding yourself of the dead weight.  As you said, the card served it's purpose and it was time to lay it to rest. 

[Anonymous]

Thanks @Loquat!

Good news everyone! Since I closed the card my FAKO scores on Credit karma have gone up 30 points! I do have high utilization on my credit cards so maybe getting rid of this one helped? Most of my cards have very low limits $250-800...because I am building credit. I'm working on getting them down. I got some bad advice about using your cards to build credit. Now I know I need to keep my utilization down. The First Premier card was only $400, but it was always near the max as it had that awful interest rate. Glad it's gone and pleasantly surprised that my credit score went up so much after closing the card!!!!

[Anonymous]

I can't wait to close my Total Rewards Card. Not as bad as some "Bad credit" cards but still a $6.25 monthly maintenance fee and a $48 AF. No thank you.

.........counting the hours until 8:00 when I can call and close it! C'est La Vie Total Rewards.

(I still find it incredibly ironic that they call the card Total rewards yet it has no rewards. Wonder who the genius was who came up with that one?)