SHould I close FP card?

[Sitori]

I was talked into getting a first premier card last July when at a credit repair company. It only has a $300 limit and I'm pretty sure it has a 75$ AF. I haven't used it in months and it has a zero balance reporting. I was leaving it open to help with my AAoA and UTL.

I have heard that when applying for new credit some people look at FP as a red flag. I will be applying for NFCU membership and a CC from them as well as care credit, in the next few weeks. If the FP is there will this negatively affect me?

I don't want to pay the AF again, so I will probably close it. But if it will HELP me obtain new credit then I will leave it open. But if it will hurt me then I will close it before I apply for the new credit.

[afbar1114]

What is your profile like? If you can close it do it. Leaving it open can hurt on a recon. But if its your only one try for a cap1 card and go from there

[09Lexie]

IMO, close it and make sure it's closed. You have other cc's now and it's done its job.

[NonSufficientFunds]

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@Sitori wrote:
I was talked into getting a first premier card last July when at a credit repair company. It only has a $300 limit and I'm pretty sure it has a 75$ AF. I haven't used it in months and it has a zero balance reporting. I was leaving it open to help with my AAoA and UTL.

I have heard that when applying for new credit some people look at FP as a red flag. I will be applying for NFCU membership and a CC from them as well as care credit, in the next few weeks. If the FP is there will this negatively affect me?

I don't want to pay the AF again, so I will probably close it. But if it will HELP me obtain new credit then I will leave it open. But if it will hurt me then I will close it before I apply for the new credit.

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It looks like you have a couple other decent trade lines with respectable limits - and those accounts will age soon enough.

Just the $75-AF alone, would already put you very close to 30% utilization on the $300 limit. 

I would call them and ask them to either raise the limit (by a lot), or waive the annual fee.

Otherwise, this card is probably not worth keeping - Let it go, and move on.  It's no longer serving you.

[Sitori]

I have discover more $1700(asking for a CLI later this month at the 6th statement), amazon store $2200, and cap1 $1500.

Ok, so close it most likely? Should I close it before I apply for the NFCU or should I wait until after. Is it helping me at all by being my oldest account?

[tattooedhusker]

Close it and don't look back.

[Sitori]

I've only had my other cards since oct/nov of last year so that's why I was afraid of closing it. I guess 3-4 months doesn't really make that much of a difference lol

[tattooedhusker]

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@Sitori wrote:
I've only had my other cards since oct/nov of last year so that's why I was afraid of closing it. I guess 3-4 months doesn't really make that much of a difference lol

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It won't ding your AAoA to close it since it will still report for 10 years, and $300 isn't going to effect your UTIL all that much. I would close it, and move on. The fees are atrocious, and it has seemed to serve it's purpose.

[dodfire]

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@tattooedhusker wrote:

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@Sitori wrote:
I've only had my other cards since oct/nov of last year so that's why I was afraid of closing it. I guess 3-4 months doesn't really make that much of a difference lol

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It won't ding your AAoA to close it since it will still report for 10 years, and $300 isn't going to effect your UTIL all that much. I would close it, and move on. The fees are atrocious, and it has seemed to serve it's purpose.

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+1

[Sitori]

Ok thanks.

Should I close it before apping for the new credit or after?