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Canceling AMEX Green

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Shock_
Frequent Contributor

Canceling AMEX Green

Can anything bad happen from this? I mainly applied to see where I was with them, and to my surprise, was accepted. I am planning to app for the Blue Cash Preferred in February when I hit my 6 months with them. If I get approved, I will cancel the Green before the hefty 95 dollar annual fee is due. I already got my 25k bonus. Is this transferable? But mainly just wondering if anything bad can happen, perhaps AAOA and stuff like that. I know it's a charge card but I want to be sure. Thanks.

Capital One Quicksilver MC $3000 6/2011 | Chase Amazon Visa $1400 8/2012 | Citi Diamond Preferred MC $4200 7/2013 | AMEX Green NPSL 8/2013 | Chase Freedom $1000 Visa 8/2013 | AMEX BCE $7000 2/2014 ==> 2/2013
Message 1 of 6
5 REPLIES 5
iHackerSix
New Contributor

Re: Canceling AMEX Green

I'm not 100% sure but as far as I know nothing bad will happen. You should also keep your card as close to the year as possible to show a little history on your report when it comes to the Green. Amex backdates anyway so if you did close the Green and didn't get an Amex for 5 years you would still get the history with them on your credit file. But now I have a question for you, how did you get 25k bonus for opening a Green? I can't seem to find any offer like that and I myself am interested in a charge card rather than another credit card...

Message 2 of 6
Shock_
Frequent Contributor

Re: Canceling AMEX Green


@iHackerSix wrote:

I'm not 100% sure but as far as I know nothing bad will happen. You should also keep your card as close to the year as possible to show a little history on your report when it comes to the Green. Amex backdates anyway so if you did close the Green and didn't get an Amex for 5 years you would still get the history with them on your credit file. But now I have a question for you, how did you get 25k bonus for opening a Green? I can't seem to find any offer like that and I myself am interested in a charge card rather than another credit card...


I will probably keep it open until 11 months or so. I will probably have a BCP by then as well. if anything, it will show that I have a good history with AMEX and perhaps boost my internal score. Hmmm..would that be affected by closing my Green?

 

And to answer your question, I got an offer in the mail. I was invited to apply, and not expecting to get accepted. I don't remember reading the literature thoroughly, and I don't recall reading anything about a bonus. But I did a google search, and they were/are offering 25,000 bonus points after first $1000 spent...in the first three months perhaps? All I know is, I got approved 8/5/13, and ran 5k on 9/1/13 for a down payment on my car. Approved and paid within a month. Next thing I know there was 25k points on my account lol.

Capital One Quicksilver MC $3000 6/2011 | Chase Amazon Visa $1400 8/2012 | Citi Diamond Preferred MC $4200 7/2013 | AMEX Green NPSL 8/2013 | Chase Freedom $1000 Visa 8/2013 | AMEX BCE $7000 2/2014 ==> 2/2013
Message 3 of 6
ezdoesit
Valued Contributor

Re: Canceling AMEX Green


@Shock_ wrote:

Can anything bad happen from this? I mainly applied to see where I was with them, and to my surprise, was accepted. I am planning to app for the Blue Cash Preferred in February when I hit my 6 months with them. If I get approved, I will cancel the Green before the hefty 95 dollar annual fee is due. I already got my 25k bonus. Is this transferable? But mainly just wondering if anything bad can happen, perhaps AAOA and stuff like that. I know it's a charge card but I want to be sure. Thanks.


It is transferable but only to a transfer partner or another MR rewarding card Amex Blue,Plat, PRG , MB card to name a few.  If don't transfer them or use the points you will not be able to use them.  The regular Blue is a good option because it is a revolver no AF and allows you to keep the MR points you already accrued.

Message 4 of 6
myjourney
Super Contributor

Re: Canceling AMEX Green


@Shock_ wrote:

Can anything bad happen from this? I mainly applied to see where I was with them, and to my surprise, was accepted. I am planning to app for the Blue Cash Preferred in February when I hit my 6 months with them. If I get approved, I will cancel the Green before the hefty 95 dollar annual fee is due. I already got my 25k bonus. Is this transferable? But mainly just wondering if anything bad can happen, perhaps AAOA and stuff like that. I know it's a charge card but I want to be sure. Thanks.


You can close at anytime w/o repercussions.

As for your points as long as the new card has MR points your good to go

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?
Message 5 of 6
Shock_
Frequent Contributor

Re: Canceling AMEX Green


@myjourney wrote:

@Shock_ wrote:

Can anything bad happen from this? I mainly applied to see where I was with them, and to my surprise, was accepted. I am planning to app for the Blue Cash Preferred in February when I hit my 6 months with them. If I get approved, I will cancel the Green before the hefty 95 dollar annual fee is due. I already got my 25k bonus. Is this transferable? But mainly just wondering if anything bad can happen, perhaps AAOA and stuff like that. I know it's a charge card but I want to be sure. Thanks.


You can close at anytime w/o repercussions.

As for your points as long as the new card has MR points your good to go


Thanks. I can just use it as statement credit right? Or book a flight thru it hopefully? I'm kind of dissapointed the Green doesnt have any type of rewards program. And would you know if the Blue Cash Preferred has MR?

Capital One Quicksilver MC $3000 6/2011 | Chase Amazon Visa $1400 8/2012 | Citi Diamond Preferred MC $4200 7/2013 | AMEX Green NPSL 8/2013 | Chase Freedom $1000 Visa 8/2013 | AMEX BCE $7000 2/2014 ==> 2/2013
Message 6 of 6
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