topic Re: Closing 1 Amex account.. Nedd advice? in Credit Card Applications

Closing 1 Amex account.. Nedd advice?

Anonymous — Thu, 08 Feb 2018 06:52:04 GMT

My wife has the PRG, BCP(22k) and was just approved for the BCE(13k). She also has a ED that has been stuck at 1k for over a year. We want to close the ED, since it probably is stuck in some wierd 1k club at the Amex office. Our original plan was to get 2 and combine the limits. Since ED is stuck, we apped for the BCE and are happy. What negative effect will closing this dud have on our relationship with them? AAOA isnt a concern...

Re: Closing 1 Amex account.. Nedd advice?

JackBeNimble1 — Thu, 08 Feb 2018 07:11:31 GMT

It should have no negative effect. You can ask to have that 1K credit line moved over to one of your other Amex cards, and eliminating the Everyday will keep you eligible for more Amex cards. Amex limits users to four active Amex credit cards and one charge card. That said, the Everyday card is a good one. There's no annual fee and it can earn up to 2.2% back at supermarkets. But your other cards should have you covered.

Re: Closing 1 Amex account.. Nedd advice?

AverageJoesCredit — Thu, 08 Feb 2018 13:55:33 GMT

None

Re: Closing 1 Amex account.. Nedd advice?

Anonymous — Thu, 08 Feb 2018 17:57:07 GMT

None at all. I have closed my PRG twice, a Green, an ED, and a EDP with them and they have yet to say anything. I currently have a BCP ($20,000) and a Hilton ($8000) as well as a loan and am constantly getting pop ups for pre-approvals.

Re: Closing 1 Amex account.. Nedd advice?

BronzeTrader — Thu, 08 Feb 2018 18:17:51 GMT

wrote:
My wife has the PRG, BCP(22k) and was just approved for the BCE(13k). She also has a ED that has been stuck at 1k for over a year. We want to close the ED, since it probably is stuck in some wierd 1k club at the Amex office. Our original plan was to get 2 and combine the limits. Since ED is stuck, we apped for the BCE and are happy. What negative effect will closing this dud have on our relationship with them? AAOA isnt a concern...

What is the harm to keep it open?

Re: Closing 1 Amex account.. Nedd advice?

Anonymous — Fri, 09 Feb 2018 05:27:43 GMT

The only issue i have, I being able to apply for a new card next year. Also, the rumor that they send you a request after 34k total exposure with them. I doubt thats a blanket rule, but she's at 34.6k now. Her income is 95k a year, which isnt a concern. However, I will not provide them with our info.

Re: Closing 1 Amex account.. Nedd advice?

AverageJoesCredit — Fri, 09 Feb 2018 12:25:59 GMT

As K in Boston likes to say , income verification and fr are two complete beast. If you dont feel comfortable providing evidence of your income , always your peragative but like you mentioned, dont try to continue to get more credit from Amex. In my humble opinion, if someone want 50k in credit , just an example, from a creditor, they should be able to verify your income supports such a limit without a fight

Re: Closing 1 Amex account.. Nedd advice?

Anonymous — Fri, 09 Feb 2018 21:02:32 GMT

You will not have any negative affect (related to relationship) with AMEX due to cancelling the account. A lot of AMEX customers cancel accounts and reopen them on a regular basis for a number of reasons. If AAOA is not a factor for you then I would call and cancel it. Now, since you are prepared to cancel the account, this is when you should try to get something from them. See if MR's or a CLI can be done as a retention effort. Let them know the reason you are closing the account and hint if it had been increased you would have probably kept the card. I know with the Delta branded cards, folks call to downgrade or cancel their cards and AMEX / Delta have been known to give miles, CLI and other things to keep the account. They could possibly say no, but it doesn't hurt to ask. Businesses love / need to have tenured accounts (especially when their are shareholders involved) so the really good companies always try to retain if they have had an account in good standings for a long duration.

Once again, all you can do is try. I wish we could guarrantee things, but hopefully this helps