Which Cards Would You Cancel ???

[Carrie_in_Pa]

First Premier Platinum MasterCard
Opened: 6-2007

Limit: $750
Annual Fee: $49.75 and $9.95 Monthly
APR: 20.15%
Status: Never Late

Capital One Platinum Visa
Opened: 10-2007
Limit: $1200
Annual Fee: $59.00
APR: 12.9%
Status: 2 Lates in 2-2012

Capital One Platinum MasterCard
Opened: 5-2008
Limit: $800
Annual Fee: $59.00
APR: 12.9%
Status: Never Late

FingerHut Credit Account
Opened: 10-2009
Limit: $220
Annual Fee: $0
APR: 24.9%
Status: Never Late

First Premier Platinum MasterCard
Opened: 2-2013
Limit: $550
Annual Fee: $49.75 and $8.95 monthly
APR: 36%
Status: Never Late

Best Buy Charge Account
Opened: 8-2013
Limit: $2500
Annual Fee: $0
APR: 25.24%
Status: Never Late

Gap Charge Account
Opened: 10-2013
Limit: $500
Annual Fee: $0
APR: 24.99%
Status: Never Late

WalMart Charge Account
Opened: 6-2014
Limit: $500
Annual Fee: $0
APR: 22.9%
Status: Never Late

Victorias Secret Charge Account
Opened: 6-2014
Limit $500
Annual Fee: $0
APR: 24.99%
Status: Never Late

Barclays Rewards MasterCard
Opened: 6-2014
Limit: $1300
Annual Fee: $0
APR: (Not Sure Yet)
Status: Never Late

Discover It Card
Opened: 6-2014
Limit: $1500
Annual Fee: $0
APR: 3.99% for 6 months (19.99%)
Status: Never Late

Chase Freedom
Opened: 6-2014
Limit: $2200
Annual Fee: $0
Apr: (Not Sure Yet)
Status: Never Late

Originally my plan was to get a few cards to replace some obviously yucky ones. I did a lot of reading around here and other places and i was confident that i could make the decisions i need to. Now im doubting that i know what im doing. UGH!!!

99% of the time i pay my balance in full every month except for maybe around Christmas tiime. Last year i think i only carried about $100 balance at Christmas. The interest rates never really mattered because of this.

I THINK i need to get rid of the newer Capital One and First Premier cards because they have ridiculous fees and the lowest limits. Sound right? I really want to get rid of the older First Premier card too but now i am confused about keeping or not keeping it. It is only a few months older than the Capital One that i was going to keep.

What would you do with these?

[chalupaman]

Maybe on one of the CapOne cards see if you can PC to something better without an AF and if you can't, dump them. Especially get rid of the First Premier card too. Definitely keep all your prime cards.

[chrisw1968uk]

Rather than listing them all, I would close all of the cards with a $1200 or less limit

[coldnmn]

They will report as a positive TL for ten years if it wont hurt your utilization close the ones withe the high annual fees. Dumping FP will not only save you money but make your credit file more appealing to creditors down the road.

[Fico2Go]

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@chrisw1968uk wrote:

Rather than listing them all, I would close all of the cards with a $1200 or less limit

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I SECOND THAT MOTION.

[manwoot]

Get rid of everything that has an annual fee.  None of those cards are worth the fees you're paying, especially with prime cards in your arsenal.

[Carrie_in_Pa]

Thank you! It seems like i should have gone with my first plan of getting rid of every card i don't like!

I do love that i finally have some Prime Cards!

First Premier cards are going ASAP. I have always seen all those fees as money better spent elsewhere.

I tried to do the product change with Capital One, they really said they couldn't do this and couldn't do that a lot. The guy suggested i apply for a new card and close the account of an older card.  When i asked if there was a limit to the number of accounts a customer could have, he assured me there was no limit. I applied for a card right away in hopes of the no annual fee offer, denied.  The letter i received states that you can only have 2 open accounts with them.

I also tried to get the 2 late payments removed from the one card. He said that the system wouldn't let him go back that far so he couldn't even see that i had any lates.
He then put me on hold and when he came back he said that his manager also wasn't able to go back that far. To that he suggested i write a letter, which i plan to do.

So here's another question about the capital one account that has 2 late payments. I honestly thought i had the automatic payments set up for both accounts and apparently missed that one. Maybe they will be nice since they can see that i didn't have any lates with my other card.

Should i wait to close it until i see if i can get them to remove the late payments or should i close it and keep trying?

[takeshi74]

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@Carrie_in_Pa wrote:

I tried to do the product change with Capital One, they really said they couldn't do this and couldn't do that a lot. 

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Did you contact the EO?

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@Carrie_in_Pa wrote:

I also tried to get the 2 late payments removed from the one card.

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Dont' call to address derogs.  Visit the Rebuilding subforum.

[Carrie_in_Pa]

I got rid of both First Premier cards and one of the Capital One cards. I already feel like some weight has been lifted.

When my 9 year old asked why i was smiling, i told her i was going to save about $400 a year because of stupid fees. I want her to learn from all of this and i think she is. Already she is calculating what $400 can be.

Thanks for the rebuilding section suggestion. I figured that's where i am headed next.

This forum is doing amazing things for me and my BF too.

[longtimelurker]

Your case was particularly straightforward, with:

1) You now have prime cards. 

2) No utilization issues, so closing cards doesn't hurt

3) Really high fees on bad cards.

So you've done the right thing, especially on the First Premier.  I would try the EO route with the remaining Cap One, and unless they remove the fee, close the card.