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Established Contributor
Posts: 665
Registered: ‎09-17-2012
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Now I have Amex should I close Spark?

[ Edited ]

I got a business Platinum Amex a couple of months ago and really like it so far - the online tools and features are so much better than the Capital One Spark. I own a small business with a few employees, they all have Spark cards and Gold Amex's at the moment. The Spark CL is $8000. I'm thinking about closing it, as I want to transition to exclusively using the Amex account for 2014. It seems to suit us better in every way - especially for expense tracking, uploading receipts, allowing our accountant access etc. instead of me sending the accountant the Spark statement every month. My question is should I close the Spark account? On some CRs it reports on my personal CR so not sure if it'll affect UTL. Also thinking maybe I should just cancel all the authorized users of it and keep it open with just a card for myself? How long before they'd close it due to inactivity?

 

Edit to add - I never carry a balance - always PIF.

Amex Platinum | Quicksilver 51k | SPG Business $30k | Hyatt $28k | Prestige $25.5k | SPG $25k | Lowe's $25k | Discover It $21.5k | Aviator Silver $20k | Ink Plus $15k | SWACU $15k | PRG | J Crew $16k | Spark $16k | Freedom $11.5k | Premier $9.1k | Ink Cash $8k | Amazon Store $5k
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Senior Contributor
Posts: 30,749
Registered: ‎02-07-2013
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Re: Now I have Amex should I close Spark?


CreditJim wrote:

I got a business Platinum Amex a couple of months ago and really like it so far - the online tools and features are so much better than the Capital One Spark. I own a small business with a few employees, they all have Spark cards and Gold Amex's at the moment. The Spark CL is $8000. I'm thinking about closing it, as I want to transition to exclusively using the Amex account for 2014. It seems to suit us better in every way - especially for expense tracking, uploading receipts, allowing our accountant access etc. instead of me sending the accountant the Spark statement every month. My question is should I close the Spark account? On some CRs it reports on my personal CR so not sure if it'll affect UTL. Also thinking maybe I should just cancel all the authorized users of it and keep it open with just a card for myself? How long before they'd close it due to inactivity?

 

Edit to add - I never carry a balance - always PIF.


I would keep the card open just so I have other options and not put all my eggs in one basket  

Cap1 does report to personal CR's so yes this can have an effect on UTL

Cancel the AU's and keep it in your wallet 

IIRC you must use it once a year before they will close but I always recommend 3 times a year 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Established Contributor
Posts: 683
Registered: ‎02-10-2013
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Re: Now I have Amex should I close Spark?

IMHO you should try for an Ink Bold or something, then close the Spark (in case someone doesn't take AMEX).

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