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Established Member
usaims
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
concorduser
Posts: 6,025
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
usaims
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
evohuntinwrx
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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