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2confused2

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Positve or Negative idea...
previously aquired a First Premier credit card (36% interest) for rebuilding my credit; currently the only balance on the card is a $49.00 annual fee plus a reoccurring monthly fee of $14.50... my question is: (1)would it be more beneficial to close this account and use the money saved to apply toward lesser interst accounts? (2)if closed, how much of a hit will my credit score take? Appreciate any advice on this matter. Thank you.

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I would certinly get rid of any card

that charges 36% interest + fee's.  But first open a new account before closing that one.  If indeed it has helped to rebuild your credit you should be able to qualify for something. Check with the bank or credit union you do business with first. You should be able to at least be able to get a secured card through your bank that would charge less. 

You don't mention how long you have had the card of if it has helped your score. I hope it has, given the amount you have paid for it.

Good luck

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