***UPDATE*** Thinking about closing both of my First Premier Cards

[pipeguy]

I would not care if they dropped by once a week to wash my car and cut my grass, close those account now ! Yesterday is too soon.... vulture lenders....

Considering you have several Chase cards and several Cap-1, dump the blood sucking "LVNV" owned Credit One too.

[Anonymous]

Last Month I droped both First premier, Credit One,Applied Bank and First Savings. They served there purpose. I felt great doing it. Monthly fees + AF. Cards always reporting a balance. Trust me it will help in the long run. 

[Anonymous]

Yep, I'm going to go all in today and cancel them.  I hope it doesn't hurt my credit at all. 

I went to check to see if I could increase my credit limit online.  They have a notification saying they will pull your credit report, and if approved, they will take 25% of the increase!!!  What absolute pieces of crap for doing that.  

[Anonymous]

---

@Anonymous wrote:

Last Month I droped both First premier, Credit One,Applied Bank and First Savings. They served there purpose. I felt great doing it. Monthly fees + AF. Cards always reporting a balance. Trust me it will help in the long run. 

---

Did it affect your score at all (even a couple of points)?

[Anonymous]

---

@Anonymous wrote:

I wish I never got them, but I needed them to rebuild my credit.  I got them back in 2011 and 2012, respectively ($250 and $300 limits).  Uggh, they haven't increased my limits on these cards and I'm paying $7 and 6$ monthly on these cards.  My AAOA is pretty low and these are the only cards that are keeping that up.  I don't want to be kept hostage by these cards forever, though.  I want to call them up and tell them to shove it.

But alas, I don't want my score to take a hit.  

---

In my view, dropping a couple of points temporarily would be worth it to get rid of First Premier Bank. Not a good CC, with very little value. You can do better, even if it is an entry-level or rebuilding card. Keeping an account open when it costs you nothing to do it is one thing, it's quite another when you are paying fees to keep an account you don't use or like. 

Just my opinion. 

[Anonymous]

---

@Anonymous wrote:

---

@Anonymous wrote:

I wish I never got them, but I needed them to rebuild my credit.  I got them back in 2011 and 2012, respectively ($250 and $300 limits).  Uggh, they haven't increased my limits on these cards and I'm paying $7 and 6$ monthly on these cards.  My AAOA is pretty low and these are the only cards that are keeping that up.  I don't want to be kept hostage by these cards forever, though.  I want to call them up and tell them to shove it.

But alas, I don't want my score to take a hit.  

---

In my view, dropping a couple of points temporarily would be worth it to get rid of First Premier Bank. Not a good CC, with very little value. You can do better, even if it is an entry-level or rebuilding card. Keeping an account open when it costs you nothing to do it is one thing, it's quite another when you are paying fees to keep an account you don't use or like. 

Just my opinion. 

---

Thank you for your feedback.  I just paid my monthly fee on one of them.  How long should I wait until I close them?  I don't want to have my payment "hanging" only to later be told I missed a payment.

[Anonymous]

---

@Anonymous wrote:

---

@Anonymous wrote:

---

@Anonymous wrote:

I wish I never got them, but I needed them to rebuild my credit.  I got them back in 2011 and 2012, respectively ($250 and $300 limits).  Uggh, they haven't increased my limits on these cards and I'm paying $7 and 6$ monthly on these cards.  My AAOA is pretty low and these are the only cards that are keeping that up.  I don't want to be kept hostage by these cards forever, though.  I want to call them up and tell them to shove it.

But alas, I don't want my score to take a hit.  

---

In my view, dropping a couple of points temporarily would be worth it to get rid of First Premier Bank. Not a good CC, with very little value. You can do better, even if it is an entry-level or rebuilding card. Keeping an account open when it costs you nothing to do it is one thing, it's quite another when you are paying fees to keep an account you don't use or like. 

Just my opinion. 

---

Thank you for your feedback.  I just paid my monthly fee on one of them.  How long should I wait until I close them?  I don't want to have my payment "hanging" only to later be told I missed a payment.

---

If it were me, I would just make sure that the balances are zeroed out with nothing pending. Then I would just call and cancel my account at that point.

[Anonymous]

UPDATE:  I closed my accounts today.  The rep was not happy at all.  She asked for a reason and I said that my limits were low and I didn't want to pay the monthly service fee, the annual fee and that I no longer need the card.  I also asked if I had anything pending in terms of payment.  I asked if there is reference number I needed.  She just simply replied with flat "no" for each question.  She said I will be receiving a statement, but I forgot that I get them online only. 

Is there anything else that I need to watch out for?  I'm going to be checking both accounts to make sure they don't slip something in.  These people are shady.

[Simply827]

Be sure you check your final statements. Sometimes residual interest can pop up. People miss it and end up with a late on their CR.

If you were charged an annual fee within 30 days of you closing, you are entitled to a refund.

[Anonymous]

---

@Simply827 wrote:

Be sure you check your final statements. Sometimes residual interest can pop up. People miss it and end up with a late on their CR.

If you were charged an annual fee within 30 days of you closing, you are entitled to a refund.

---

I did not know that about the refund!  I just paid the annual fee on one of them a few days ago.  So, I'm entitled to that back?  

And yes, I do intend to monitor any residual fees/interest to make sure they don't sneak anything in.  

Thank you for the information!