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Green AmEx

Established Member

Green AmEx

Should I close Green AmEx?

 

I've had it since January. I only got it to "get in" the AmEx family.

 

I have the BCE and Clear.  Don't need a Charge.  

 

Definitely cancelling before AF is billed.  Question: is it better to cancel it sooner or wait til month 11 and then cancel before AF is charged?

Chase Slate- 33K |AmEx Clear Card-2K | AmEx BCE-2K | Chase Freedom-1.3K | BoA Travel Rewards Visa-10K | BoA Accelerated Rewards AmEx-20K | Citibank Dividend Visa-2.1K | U.S. Bank-600 | Macy's Store Card-1.8K| Barclays MC-2.5K| Discover IT-17K | Chase CSP-1K | Banana Republic Visa-10K | BoA Better Balance Rewards MC-2.5K | Chevron Visa- 1.5K | EBay MC- 2.5K | Citi Diamond Preferred-2K | Citi American Airlines MC- 6.3K | Discover IT Chrome-2.5K| BoA Susan G. Komen MC-8.5K

TOTAL LINES: 20 |TOTAL UNSECURED CREDIT: $125,100
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1 REPLY
Senior Contributor

Re: Green AmEx


BruinTheNursePractitioner wrote:

Should I close Green AmEx?

 

I've had it since January. I only got it to "get in" the AmEx family.

 

I have the BCE and Clear.  Don't need a Charge.  

 

Definitely cancelling before AF is billed.  Question: is it better to cancel it sooner or wait til month 11 and then cancel before AF is charged?


Assuming you're not using Amex for backdating, it's probably better to wait till the end of the year. It will stay on your CR for approx 10 yrs; however I don't think it would look very good for potential lenders to see an acct opened and closed within a few months. I'd want at least a year of history on the card showing on my CR before it's closed.

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EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

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