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So last week I applied for the AMEX Green Charge card and was approved (followed by the ED which I was alsy approved for...yay!). Initially I wasn't aware the the UW criteria for all charge cards was the same and heard that the green was easiest which is why I applied for it. Afterwards I realized that I should have app'd for the PRG for the sign on bonus at least and potentially downgrade after the first year if I'm not using it for full worth. I called and they said I would have to apply again for the PRG and cancel the Green card. I did this and was successful in being approved for the PRG. Would it hurt me greatly to close my Green card this early? It literally has been active since 8/14 and I havent made any purchases on it yet. Will it even post on my CRs?
you wil take the hits from the hard pulls and I am pretty sure they will factor into your average age of accounts and lower it which will hurt your score in the short term but the cancelled green card will continue to be a postive factor in the long run as it ages in your average age of accounts for the next 10 years until it drops off your report.
Yeah, In total there are 2 hard pull by AMEX which I'm not too concerned about t at the moment. So really, closing it won't do any "damage" to my account other than AAoA?
@AvadaKedavra wrote:Yeah, In total there are 2 hard pull by AMEX which I'm not too concerned about t at the moment. So really, closing it won't do any "damage" to my account other than AAoA?
technically if card is on your CR you won't get an major aaoa hit since it will stay on there for 10 years , unless you are talking about the 3 new cards affecting your aaoa. If you have those all backdated to an previous amex card then you will not be affected.
@AvadaKedavra wrote:So last week I applied for the AMEX Green Charge card and was approved (followed by the ED which I was alsy approved for...yay!). Initially I wasn't aware the the UW criteria for all charge cards was the same and heard that the green was easiest which is why I applied for it. Afterwards I realized that I should have app'd for the PRG for the sign on bonus at least and potentially downgrade after the first year if I'm not using it for full worth. I called and they said I would have to apply again for the PRG and cancel the Green card. I did this and was successful in being approved for the PRG. Would it hurt me greatly to close my Green card this early? It literally has been active since 8/14 and I havent made any purchases on it yet. Will it even post on my CRs?
under a manual credit review it might raise a question about why you opened 2 charge accounts and closed one shortly after but easily explainable so shouldn't be an issue, does the green card have an AF for the first year, if its waived, leave it open and set a reminder to close it before its due next year. If it does, then close it if you like.
@jamesdwi wrote:
@AvadaKedavra wrote:So last week I applied for the AMEX Green Charge card and was approved (followed by the ED which I was alsy approved for...yay!). Initially I wasn't aware the the UW criteria for all charge cards was the same and heard that the green was easiest which is why I applied for it. Afterwards I realized that I should have app'd for the PRG for the sign on bonus at least and potentially downgrade after the first year if I'm not using it for full worth. I called and they said I would have to apply again for the PRG and cancel the Green card. I did this and was successful in being approved for the PRG. Would it hurt me greatly to close my Green card this early? It literally has been active since 8/14 and I havent made any purchases on it yet. Will it even post on my CRs?
under a manual credit review it might raise a question about why you opened 2 charge accounts and closed one shortly after but easily explainable so shouldn't be an issue, does the green card have an AF for the first year, if its waived, leave it open and set a reminder to close it before its due next year. If it does, then close it if you like.
I think amex green has AF waived for first year like PRG , but it just isn't as good of an card tho imo.
Yeah both Green and PRG have AF waived first year. Maybe I'll keep both open for a year and after the year decide which one to close. These arent backdated btw. I'm a new AMEX member as of last week (woohoo). Thanks all for the input.
@AvadaKedavra wrote:Yeah both Green and PRG have AF waived first year. Maybe I'll keep both open for a year and after the year decide which one to close. These arent backdated btw. I'm a new AMEX member as of last week (woohoo).
congrats, welcome to the AMEX family.
it might be best to downgrade the Green to Senior green (AF is $35 IIRC) when the AF is due and close the PRG unless your spending and benefits can justify the $175 AF.
@jamesdwi wrote:
@AvadaKedavra wrote:Yeah both Green and PRG have AF waived first year. Maybe I'll keep both open for a year and after the year decide which one to close. These arent backdated btw. I'm a new AMEX member as of last week (woohoo).
congrats, welcome to the AMEX family.
it might be best to downgrade the Green to Senior green (AF is $35 IIRC) when the AF is due and close the PRG unless your spending and benefits can justify the $175 AF.
Well, only if the OP wants to keep a charge card. The MR points are safe with the ED, so not sure I would even bother with a $35 fee.
IMO keep PRG and close green as it is useless. If there is a MR signup bonus then be sure to take advantage of that before closing. But if that's not the case... then I think you know what to do.