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What Should I Do?: First PREMIER® Bank Platinum Credit Card Review

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What Should I Do? - Written by: Aclove404 on 2008-04-13

First PREMIER® Bank Platinum Credit Card
[Card Details]

 
Overall Satisfaction
Customer Service Not Rated
Rewards Not Rated
Account Management
Delivery Time




Aclove404's Card Review:

I shredded this card many years ago. It was my first credit card back in 2002. I was 18. I want to close it b/c I pay 7 dollars a month I just send them 50 every couple of mos., but will my score take a huge hit? I could use that 7 dollars a month for our crazy gas prices

 



Comments On This Review: (11 Total)



Comment 1
Comment Title: Call First From Meya on 2008-04-13

Try to see if you can get your fee waived since you have been with them so long. This is a toughy because it has years of history and it will impact your cr. But if you are searching for better cards, it is best to do it now. You can close the account, but like I said before, it is going to hurt you for a while. It will pick back up when the others gain history. Make sure you are targeting better cards before you close this one.



Comment 2
Comment Title: Stay With It From ARod on 2008-04-13

First check your credit report if your FICO is high like 680 or higher you could apply to Big banks check on this this site for there FICO requirement.

if you have the big banks already and you no longer need this card then close it. And Im saying this if your credit is good or Excellent 600-670 is fair 680 to 700 is good 711 and higher is excellent.

Now also read Other comments on this forum.

Good Luck to you.

Alex



Comment 3
Comment Title: Wow From Hjm331 on 2008-04-13

This is a tough one. Try calling them and telling them to waive the $7 a month because you will be using their card a least once a month. The reason why they charge $7 a month is for them to be able to report activity to the CB's every month. If there's no activity, then they can't report anything to the CB's and the whole point of having their credit card is to build credit.

Try calling them and tell them you will be using their card to fill up gas and tell them to charge you $7 a month only if you don't use their card at least once a month. If they refuse, tell them to close the account. They're not worth $7 a month.



Comment 4
Comment Title: Reply From Aclove404 on 2008-04-13

I have AMEX HSBC cap one my scores are eq 722 ex 743 tran 729 and they wont waive any fees



Comment 5
Comment Title: Close This Card. From ARod on 2008-04-13

If you have these great cards... Then close them.

You don't need First premiere..

But its up to you

Take care,

And good luck



Comment 6
Comment Title: RE; ARod From Hjm331 on 2008-04-14

Yeah, I agree. If you have better cards, close this one. How old is this credit card? How old is your second oldest credit card?



Comment 7
Comment Title: Scores In The 700's? From Meya on 2008-04-14

Drop this card like it is hot. Even if your scores took a hit, it will still look good. YOu do not need this company, they have served its purpose and now it is time to let someone else have it. You will still have excellent ratings without this card.



Comment 8
Comment Title: Lose This Card!!! From Debtor00 on 2008-04-14

You don't need it!!



Comment 9
Comment Title: SOME MIS INFORMATION ON THIS PAGE From Greg500 on 2008-04-15

I often see a lot of mis information posted on this

forum. The $7 fee a month or whatever it is only a fee nothing to do with reporting to the Credit Bureaus. My sister works for Experian, and I am a corporate attorney. This is only an annual fee spread out monthy

like any other annual fee that many pay on issue of a card. Only if you have a significant credit line will it

have an effect on your score, otherwise if you have

other cards and you can do without it I would not worry and drop it.



Comment 10
Comment Title: HMM From Yoyo11 on 2008-04-19

As meya said... What is your scores? This was my second card after a bankruptcy... My first was orhard bank at $300 limit $79 annual fee. No monthly maintenance fees. However I do have two 1st Premier cards, the first one was the gold $250 limit, $59 annual $6 monthly fee. The 2nd one $300 limit $49 annual fee..$6 monthly fee.

I have to say... Both card improved my credit... My scores had to be lower than 480 now my highest 610. I guess they charge you for helping you w/your scores being low in the first place. I've decided to keep my cards because I had them for about a year (good for credit)... And they have help my score. Understand 30% of Fico score is how often you pay your bills on time...1st premier reports this every month... Like clock work...



Comment 11
Comment Title: Close It... From Garydman on 2008-04-26

Go ahead and close it. The only hit you will take on your score is the loss of the $250 on your total credit line. You will still get credit for the years the account was open for another 10 years. It just doesn't get any older on your reports. I've heard of peoples' scores jumping just because they closed First Premier accounts.


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