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Established Member
Posts: 24
Registered: ‎08-08-2007
0

closing amex green card

Hi,

 

My green has the longest history in my credit report. Never been late. I'm tired of paying the yearly fees on it. I have balance of $175, $115 of it is the fee. I'm thinking about closing it. If I close it today, I won't have to pay the $115 fee but it will have a balance $60 which I will pay. How will this show up in my credit report, closing an account with a balance but will be eventually paid?

 

When I called them to possibly cancel, they told me to apply for another product, which I didn't yet. Should I apply for another card, will the "date opened account" on the

credit history reflect the old green card or will it start from today if I apply for a new one. My score is 720, I don't want to lower it. Please give advice.

 

usaims

Super Contributor
Posts: 6,026
Registered: ‎09-18-2007
0

Re: closing amex green card

With amex when you open a new account it will add to your AAOA. It is good to have an Amex card. I strongly suggeste getting an amex card that does not have annual fees and do not worry too much about drop in the scores in the short term.

Established Member
Posts: 24
Registered: ‎08-08-2007
0

Re: closing amex green card

I already have a Delta Sky Miles Card.

 

You said don't worry about the drop, I have heard the drop can be as much as 26 points.

 

usaims

New Contributor
Posts: 64
Registered: ‎10-02-2010
0

Re: closing amex green card

See if you can product change to a Zync , only $25 a year...

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