Amex Zync

[breakdown1987]

Hello,

So, I still have my Zync from Amex (discontinued) and just got hit with the $25 annual fee. Considering I spend less then $500 a year on this card I'm looking to get rid of it. I've held onto it just mainly to my history up. Is it worth getting a 2nd AMEX card (Already have the BCE) or should I just close it and stick to what I have:

Currently sitting at a 715 score / 26 Years old and currently have:

Credit Union CC 6K Limit

AMEX BCE 5k Limit

Amazon Store Card 4k Limit

Amex Zync - Charge

Thinking maybe closing the Zync and opening an account with Discover?

[Anonymous]

I think that that is perfectly reasonable.

[Littlewing745]

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@breakdown1987 wrote:

Hello,

So, I still have my Zync from Amex (discontinued) and just got hit with the $25 annual fee. Considering I spend less then $500 a year on this card I'm looking to get rid of it. I've held onto it just mainly to my history up. Is it worth getting a 2nd AMEX card (Already have the BCE) or should I just close it and stick to what I have:

Currently sitting at a 715 score / 26 Years old and currently have:

Credit Union CC 6K Limit

AMEX BCE 5k Limit

Amazon Store Card 4k Limit

Amex Zync - Charge

Thinking maybe closing the Zync and opening an account with Discover?

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If you don't need it, I'd move on. Discover It is a great card. That said...be sure you're closing it to get a card that better meets your needs, and not just over $25. Not saying money shouldn't matter, but...keep in mind this card is discontinued. If you end up wanting another Amex charge card down the road, your AF is going to nearly quadruple for the opportunity to have one.

[breakdown1987]

I have about 30,000 points I've never used. Could I somehow transfer that to BCE in rewards? or just spent it and close it.

[jsucool76]

can't transfer em. I'd say maybe open a charge card (or everyday card) and all of those points will turn into full fledged membership rewards points which you can then transfer out.

[jamesdwi]

I would keep it open as its most likely a 4+ year old card, in  a couple more years its will be approaching 7 years of age, and since AMEX no longer back dates, seems like $25 a year is a small price to pay to keep the card open. That is why I keep mine open. 

[Anonymous]

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@jamesdwi wrote:

I would keep it open as its most likely a 4+ year old card, in  a couple more years its will be approaching 7 years of age, and since AMEX no longer back dates, seems like $25 a year is a small price to pay to keep the card open. That is why I keep mine open. 

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The card will continue to report for 10 years after it's closed.

[jamesdwi]

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@Anonymous wrote:

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@jamesdwi wrote:

I would keep it open as its most likely a 4+ year old card, in  a couple more years its will be approaching 7 years of age, and since AMEX no longer back dates, seems like $25 a year is a small price to pay to keep the card open. That is why I keep mine open. 

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The card will continue to report for 10 years after it's closed.

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true, but that 10 year period starts when you close it, and on manual review it will count less than an open NPSL limit card that is years old. 

[ddemari]

I'd keep it open, $25.00 dollars isnt much. but if you have no need for it, then I understand. 

[CreditCuriosity]

I love the look of the card .  Worth the backdating and looks for me, it is only $25 dollars, can't think of much a lower AF card out there other than obviously a no AF card.