Steve
Bradenton,#2Consumer Suggestion
Sun, December 26, 2010
Chas,
It appears that you do not fully understand credit scoring.
A major factor in credit scoring is known as "longevity" which represents how long the account has been open. Longer history = better credit score...as long as the account remains open!
As soon as you close that account, depending on how long it was reported, you could take a 50-100 point hit on your score.
If you are unhappy with First Premier Bank, as most people are at some point, I would suggest you close that account now and look at some other quality providers of secured cards.
Just advice from someone who has been there with First Premier Bank.
Run fast!