topic Re: Closing Amex Green in Credit Cards

Closing Amex Green

Blender — Mon, 03 Jul 2023 13:01:14 GMT

August 4th is my one year. The card no longer serves me as I'm not traveling much. My credit hasn't budged like I hoped since being approved for the Fresh Start Program. I considered going the RESY amex gold route, but the past few "see if you're approved" tries were denials.

Remind me:

1. What is the process for closing around 1 year? Let AF post than call and cancel and get refund?

2. How long will I have to wait after closing this card to apply for a new amex (if i choose, once scores improve)?

Thanks

Re: Closing Amex Green

SouthJamaica — Mon, 03 Jul 2023 14:35:54 GMT

@Blender wrote:
August 4th is my one year. The card no longer serves me as I'm not traveling much. My credit hasn't budged like I hoped since being approved for the Fresh Start Program. I considered going the RESY amex gold route, but the past few "see if you're approved" tries were denials.
Remind me:
1. What is the process for closing around 1 year? Let AF post than call and cancel and get refund?
2. How long will I have to wait after closing this card to apply for a new amex (if i choose, once scores improve)?

Thanks

My recollection is that you should wait until after the AF posts, and then cancel at the 13 month point. But wait until you hear from more knowledgeable Amex experts.

Re: Closing Amex Green

Rogue46 — Mon, 03 Jul 2023 14:54:27 GMT

Yes the consensus is to wait until 13 months to be on the safe side. Keep in mind apping for another Amex card should be a soft pull since you are already an Amex card holder.

Re: Closing Amex Green

GZG — Mon, 03 Jul 2023 15:18:27 GMT

@Rogue46 wrote:
Keep in mind apping for another Amex card should be a soft pull since you are already an Amex card holder.

I wonder if that changes if they close their only card

@Blender

when your AF posts, try asking for a retention offer and see if they can make the card make sense for another year

'hey, I'm considering canceling my card, the card's benefits aren't viable to me for this coming year, do you have any retention offers you can provide which could help me justify the card for another year'

them: but look green card great stuff, are you sure the card's benefits won't help you?

you: yes, I'm still considering cancelling, do you have any rentention offers for me to keep this card another year?

them: Probably yes, maybe no -- offer: 20k points 2k spend or something hopefuly

Re: Closing Amex Green

Rogue46 — Mon, 03 Jul 2023 16:15:30 GMT

@GZG wrote:
@Rogue46 wrote:
Keep in mind apping for another Amex card should be a soft pull since you are already an Amex card holder.
I wonder if that changes if they close their only card

It seems with Amex in particular once you hold one of their products you are in the door even if you close it and reopen another card it will still say "Member Since" backdating to your first card so i dont know if that changes anything.

Re: Closing Amex Green

Blender — Mon, 03 Jul 2023 16:46:09 GMT

@Rogue46 wrote:
Yes the consensus is to wait until 13 months to be on the safe side. Keep in mind apping for another Amex card should be a soft pull since you are already an Amex card holder.

I have some baddies falling within the next 45 days and I may SP try the RESY gold again. Essentially $125/ yr and i should make use of those credits.

Re: Closing Amex Green

Blender — Mon, 03 Jul 2023 16:48:20 GMT

@GZG wrote:
@Rogue46 wrote:
Keep in mind apping for another Amex card should be a soft pull since you are already an Amex card holder.
I wonder if that changes if they close their only card

@Blender

when your AF posts, try asking for a retention offer and see if they can make the card make sense for another year

'hey, I'm considering canceling my card, the card's benefits aren't viable to me for this coming year, do you have any retention offers you can provide which could help me justify the card for another year'

them: but look green card great stuff, are you sure the card's benefits won't help you?

you: yes, I'm still considering cancelling, do you have any rentention offers for me to keep this card another year?

them: Probably yes, maybe no -- offer: 20k points 2k spend or something hopefuly

I was already planning to try, but I dont think Im gonna get an offer worth while based on my profile.

Re: Closing Amex Green

okurosetta — Mon, 03 Jul 2023 17:19:50 GMT

@Blender wrote:
I was already planning to try, but I dont think Im gonna get an offer worth while based on my profile.

It is definitely worth a try - I have seen people who spend $50k+ a year on a card not get a retention offer while people who barely use a card do get an offer. You'll never know unless you ask, and asking via chat only takes a few minutes.

Also, keep in mind that you have 30 days from when the annual fee posts to cancel the card and get the full annual fee back. On my Gold, I was told there was not an offer twice, with the second rep advising me to try again at a later date. I waited about a week and tried again, this time being offered a 30k MR retention offer.

I'm currently in a similar boat as you - I like the idea of Green, but the bottom line is I do not recoup the $150 annual fee, so it is not worth keeping unless they present a retention offer. But, based on my above experience with Gold, I'll try a few times over a few weeks before actually closing it.