I just received a letter from First Premier to a new First Premier Bank Platinum MasterCard. They say my old account will report as settled. It is interest free for one year and 19.9% there after. It seems to me that this only benefits First Premier. Is there any way this will help me or anyone else rebuild credit history?… show moreshow less
Transferring a charge off to a new account will not improve your credit score. You will be able to rebuild your credit if you make payments on time and your account is in good standing. This positive information will show on your credit score.
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