11-18-2010 05:07 AM
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.
11-18-2010 05:16 AM
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.