No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
Because it's a "charge card", my Amex "Green" card shows up in a separate category from "credit cards" on credit reports (there is no credit limit on the Green card and it must be paid in full monthly). Do y'all think there will be any hit to my FICO if I close this account?
thanks!
Closing the account will have no effect on your AAOA. There should be no impact on your aggregate utilization either. Close the card and save the annual fee if it makes sense.
Note: There is some belief that an AMEX charge card might add to credit mix but, that has not been adequately substantiated.
Full disclosure: I have an AMEX green card and keep it primarily because it's my oldest account.
@codedoctor wrote:Because it's a "charge card", my Amex "Green" card shows up in a separate category from "credit cards" on credit reports (there is no credit limit on the Green card and it must be paid in full monthly). Do y'all think there will be any hit to my FICO if I close this account?
thanks!
I'm curious whose reports your green Amex shows up separately on. It shows up in the same general category as CCs on my MyFico 3B reports and on the last set of annual reports I got from the CRAs. The information is there to show it in a special category so providers can show it that way if they choose.
@Thomas_Thumb wrote:Closing the account will have no effect on your AAOA. There should be no impact on your aggregate utilization either. Close the card and save the annual fee if it makes sense.
Note: There is some belief that an AMEX charge card might add to credit mix but, that has not been adequately substantiated.
Full disclosure: I have an AMEX green card and keep it primarily because it's my oldest account.
I think this sounds right. As mentioned, if it's not worth it to you to have, it appears you really don't stand to lose anything by closing it.
Total CL: $321.7k | UTL: 2% | AAoA: 7.0yrs | Baddies: 0 | Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping |