First Premier

[goodlilminx]

Hello all..

I have a First Premier card with high interest which is completely paid off.  Balance is about 300 bucks...I also have a Capital one with or about the same Credit limit....but paid off.  I just got an offer from First Premier with a new offer for a credit card with a 9.9 percent interest rate...and when I called they told me the cc was guaranteed since I have the first Premier and that I would have a minimum balance of 300.  I am working on my credit score since I want to buy a house.  Should I get this card?  Will it bring my score down or eventually help me??

[Anonymous]

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@goodlilminx wrote:

Hello all..

I have a First Premier card with high interest which is completely paid off. Balance is about 300 bucks...I also have a Capital one with or about the same Credit limit....but paid off. I just got an offer from First Premier with a new offer for a credit card with a 9.9 percent interest rate...and when I called they told me the cc was guaranteed since I have the first Premier and that I would have a minimum balance of 300. I am working on my credit score since I want to buy a house. Should I get this card? Will it bring my score down or eventually help me??

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You do mean CL (Credit line) not balance in your post right? It is kinda hard to read.

Waht is the time frame you are looking to get your mortgage?

If your plan is a further out get something better than Premier like - Hooters, HSBC (Orchard/Household Bank) or a card with your bank.

What are your scores and baddies?

[CreditBob]

How long have you had the other two credit card accounts for? If you have had them for less then 5 years each then do not do it. On your two current cards you can request for a limit increase which will not impact the lowering of your fico score. On each $ 300.00 line of credit leave a balance of 1% which is at least $ 3.00 per account instead of apying them off. If you pay them completely off you will see "NO CURRENT REVOLVING BALANCE BEING REPORTED"., which will have a negative impact on your score of at least minus 10 points. I alreadyw ent through this and talked to barry at Fair Isaac avout 3 months ago on this. here is another useful site from MYFICO    When the main page comes up click on "GET STARTED"   http://www.bankrate.com/brm/fico/calc.asp?lpid=BKRATE29   You will have to answer about 7-11 questions, about three pages worth. So use the fico score silulator ahnd you will see what I am talking about.

[chartley3]

I have 2 First Premier cards, one at $200 and another at $300 and I cannot wait until the day I can cancel both of them. I will caution you on 2 things, 1. if you ever want to get a CLI from these people you better was a mid 600 FICO from TU. They will not increase it at all. and 2. if they do increase it they charge you $25 for the CLI on top of all thier other fees. If your looking for another card I would look at the Tribute Mastercard. 0% APR the first year and 9.9 after that and I havent had the card a year yet and they have given be 2 CLI since becoming a member. There website is www.mytributecard.com

[Cory]

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chartley3 wrote:

I have 2 First Premier cards, one at $200 and another at $300 and I cannot wait until the day I can cancel both of them. I will caution you on 2 things, 1. if you ever want to get a CLI from these people you better was a mid 600 FICO from TU. They will not increase it at all. and 2. if they do increase it they charge you $25 for the CLI on top of all thier other fees. If your looking for another card I would look at the Tribute Mastercard. 0% APR the first year and 9.9 after that and I havent had the card a year yet and they have given be 2 CLI since becoming a member. There website is www.mytributecard.com

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Yes, but isn't their annual fee ridiculus? I believe it is $150.00. My goodness.

Cory