Canceling Amex card after 2 months?

[Anonymous]

I've canceled a credit card in the past that's now on my report for 10 years, I've had my Amex everyday for 2 months and after I PIF I wanted to close it. Has anyone had a bad impact on their score from canceling a card shortly after opening?

[Anonymous]

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@Anonymous wrote:

I've canceled a credit card in the past that's now on my report for 10 years, I've had my Amex everyday for 2 months and after I PIF I wanted to close it. Has anyone had a bad impact on their score from canceling a card shortly after opening?

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It's not going to affect your score unless it dramatically affects your overall utilization.  It may however affect how Amex views you if you decide to apply in the future.  Really is no benefit to closing a card after two months.

[Anonymous]

Irish,

I was hoping to get their Amex Hilton card in place of my ED. I worry about closing it and staying on my report for a long time.

Thanks for your feedback

[Anonymous]

I expect closing a card so quickly might send Amex the wrong signal. I'd apply for Hilton (with the understanding you might be declined) and if you are declined, call Amex and explain your situation. They may tell you to just reapply in a few months. I don't think closing ED helps at all.

Your MRs can become Hilton points, so don't throw those away.

I like having my otherwise-useless BCE for offers it gets.

[Anonymous]

Careful,

That's true. I'm waiting on my MR points to post and then I'll use up my Amex offers before I make some kind of decision. I know after having the ED it's not my go-to card like some people on this forum. I have my BCE that I love and next up on my wish list after the Hilton card is the Citi DC.

[longtimelurker]

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@Anonymous wrote:

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@Anonymous wrote:

I've canceled a credit card in the past that's now on my report for 10 years, I've had my Amex everyday for 2 months and after I PIF I wanted to close it. Has anyone had a bad impact on their score from canceling a card shortly after opening?

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It's not going to affect your score unless it dramatically affects your overall utilization.  It may however affect how Amex views you if you decide to apply in the future.  Really is no benefit to closing a card after two months.

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This is particularly true if you just got the sign up bonus on the ED, you might raise flags that you are a churner.   But it probably takes a few instances of this for Amex to really care.   I would only close if you think you are reaching max exposure with Amex

[Anonymous]

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@Anonymous wrote:

Careful,

That's true. I'm waiting on my MR points to post and then I'll use up my Amex offers before I make some kind of decision. I know after having the ED it's not my go-to card like some people on this forum. I have my BCE that I love and next up on my wish list after the Hilton card is the Citi DC.

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I don't think ED is a terribly interesting go-to card. Go big with EDP or go home.

I spend a lot at Costco, though, and will likely spend at least $5k at grocery stores.

I might PC EDP to ED after the Costco switch and just use it for offers. UR and cash back cards would fill the void.

If you can get a good cpp value for Hilton (which in my research and limited stays involves smaller, out-of-the-way properties), the Amex Hilton cards can be great.

[Anonymous]

Lurker,

I haven't reached the bonus and I think my time will run out soon.

The hilton bonus would be easier to get to for me, and I do stay at hilton quite often. I stayed at hamptons this whole summer, which makes me wish I had the card then. 

Careful, I learned the hard way that the no AF ED isn't as great. I got a mailer for it right after my BCE that I shouldn't have app'd for but I'm a narc and did it anyway.

Thanks all for your feedback, btw!

[ddemari]

Amex may not like the fact you reached your bonus spend, got the bonus and now want to close out the card. I'd try and leave it open, do you need the other amex card right now?

[Anonymous]

Ddemari,

i didnt reach bonus spend on my everyday.  also I just applied for the Hilton and was denied. Either gonna stick it out for the 13 months to switch the card or just close it as soon as I use up my Amex offers and convert whatever points I got to Hilton points.