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Should I Cancel American Express Green Card?

Established Member

Should I Cancel American Express Green Card?

Does anyone know if it would hurt my credit score if I cancel my American Express green card?  It is not my oldest card plus I rarely use it.  I am tired of paying the $125 annual fee. My credit is excellent: Equifax=808; Transunion= 808; Experian:=788.  I wanted to call and ask them if I could instead have an American Express Blue credit card.  Any suggestions?

Message 1 of 17
16 REPLIES
Moderator Emerita

Re: Should I Cancel American Express Green Card?

Your AF for the a Green is $125?

Closing an account will not hurt your score ESP since its a charge card (util)
Message 2 of 17
Valued Contributor

Re: Should I Cancel American Express Green Card?

125 for the green??? I thought it was 95.

And the card will still show there for 10 years so it shouldnt hurt your AAoA

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Message 3 of 17
Frequent Contributor

Re: Should I Cancel American Express Green Card?

Unless you have a ton of MR points, I'd cancel.
As of 1/10/2014 EX FICO - 748. EQ FICO - 728. Trans FICO - 755

WellsFargo - $3,000 AMEX BCE - $18,000 Chase Freedom - $4,000



Message 4 of 17
Frequent Contributor

Re: Should I Cancel American Express Green Card?

If you're paying $125 for a green then you might as well upgrade to the Gold for the same price Smiley Wink

Message 5 of 17
Frequent Contributor

Re: Should I Cancel American Express Green Card?

you can also downgrade the green to the "senior green" its AF is only $45 or $55 I think but in reality, if your not using the card then its kinda useless.




Message 6 of 17
Frequent Contributor

Re: Should I Cancel American Express Green Card?

Perhaps the Amex SENIOR GREEN card might be the solution, with a $35 AF instead of $95 for the standard Green card?  (Isn't $125 AF for the Gold card?)

https://web.aexp-static.com/us/content/pdf/cardmember-agreements/senior-green/SeniorGreen.pdf

This cardmember agreement LINK for the current Senior Green card cites an annual fee range of $35 to $75 with the latter, higher amount involving, I believe, a $40 upcharge to keep the MR points (which are normally forfeited for the standard Green card).  I have yet to call Amex myself to find out what special requirements exist to convert to this card:  "Age?  (I'm guessing not a criterion).  "Years as an Amex Member?"  (Possible criterion.)  "Invite" necessary?  (Don't know.)  Unless anyone already knows more about the Senior Green requirements, I'll just have to make that phone call myself . . . !

FICO Score 8: EQ 815 EX 809 TU 814 **** FICO Bankcard 8: EQ 837 EX 826 TU 841 **** VantageScore 3.0: EQ 824 EX 823 TU 822
TOTAL CL (6 cards): $127.7K **** INQUIRIES 2 yrs (1 yr): EQ 0(0) EX 0(0) TU 0(0) **** UTILIZ: 1 % **** GOAL: FICO Score 8: 800+
r>>
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Message 7 of 17
Frequent Contributor

Re: Should I Cancel American Express Green Card?


Corgihound wrote:

Perhaps the Amex SENIOR GREEN card might be the solution, with a $35 AF instead of $95 for the standard Green card?  (Isn't $125 AF for the Gold card?)

https://web.aexp-static.com/us/content/pdf/cardmember-agreements/senior-green/SeniorGreen.pdf

This cardmember agreement LINK for the current Senior Green card cites an annual fee range of $35 to $75 with the latter, higher amount involving, I believe, a $40 upcharge to keep the MR points (which are normally forfeited for the standard Green card).  I have yet to call Amex myself to find out what special requirements exist to convert to this card:  "Age?  (I'm guessing not a criterion).  "Years as an Amex Member?"  (Possible criterion.)  "Invite" necessary?  (Don't know.)  Unless anyone already knows more about the Senior Green requirements, I'll just have to make that phone call myself . . . !


Let us know what you learn if you decide to call them. I'd be interested to know as well although I don't have to worry about it right away.

Message 8 of 17
Frequent Contributor

Re: Should I Cancel American Express Green Card?

I have asked and surprisingly there is no "requirement" just ask and anyone that is a cardmember with a charge card can convert to it, the funny thing is even the rep was not able to tell me the difference between the senior with MR points for $75 and the regular green for $95 lol




Message 9 of 17
Valued Contributor

Re: Should I Cancel American Express Green Card?

the AF difference between 95$ and 125$ is most likely due to him having an AU on the account....  just a guess!

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Message 10 of 17