topic Re: Need advice about my AMEX accounts in Credit Cards

Need advice about my AMEX accounts

Smooth_J — Mon, 09 Jun 2025 20:11:39 GMT

So I just made my last payment to my AMEX Financial Relief Program. It has been a long several years, and I really like the feeling of not having this burden. Based on the AMEX CSR, I will be unenrolled from the program tomorrow (since all payments have been made), and then I am free to use the cards. While I have a feeling that some of the cards might be nerfed soon with reduced credit limits, or just straight up cancelled, I believe that some will live on. That being said, I am not sure if I want to pay all these annual fees and crazy high APR anymore as my APRs will be in the upper 20s close to 30s range. Obviously I don't want to keep any balances, but crap happen.

I currently have:

Blue Cash Preferred
American Express Gold

Hilton Honors Aspire
Delta SkyMiles Reserve
Marriott Bonvoy Brilliant
American Express Platinum Card

I tried to find one, maybe two that will suite my needs but its hard since they all have their pros and cons. I would be able to use some of the benefits and rewards, but not all, and I doubt it could cover the full annual fee.

The reason why I am also having a hard time is because these cards are nearly 10 years old (on average), and them being an "older" account, I would like to keep my credit in decent shape.

Re: Need advice about my AMEX accounts

pizzadude — Mon, 09 Jun 2025 20:43:27 GMT

First, congrats on making your final payment and completing the program. Were all of these cards in "suspended" status for the past several years ?

Maybe let the dust settle first and see how your cards are going to be affected by closing out the program, and decide if the travel related cards will fit your lifestyle first ?

Re: Need advice about my AMEX accounts

Smooth_J — Mon, 09 Jun 2025 22:10:12 GMT

@pizzadude wrote:
First, congrats on making your final payment and completing the program. Were all of these cards in "suspended" status for the past several years ?

Maybe let the dust settle first and see how your cards are going to be affected by closing out the program, and decide if the travel related cards will fit your lifestyle first ?

Thank you... it took me working multiple jobs, and not having weekends in order to get ahead and pay this burden off.

Yes, they were all suspended and could not be used. Pertaining to waiting and see what happen... I was thinking the same, however my annual fee will be due for 2 cards in the next few months so I would really need to think long and hard if I really want them (or if I will even use them at all). I guess in some ways I have a PTSD of getting a balance again, and while I know I can pay it off, I fear that something could happen and I would need to use it. Therefore starting this cycle all over again.

Re: Need advice about my AMEX accounts

pizzadude — Mon, 09 Jun 2025 21:13:02 GMT

Yeah it's understandable to be worried about AMEX opening the floodgates for your cards, but I suspect they'll be keeping you on a short leash for a while to make sure you're paying early & often.

I'd start with your charge cards, consider if you need both Gold & Platinum ? For the hotel cards, do you travel / stay at both Hilton & Marriott properties enough to justify both of these also ?

Re: Need advice about my AMEX accounts

KatzNDawgs — Mon, 09 Jun 2025 21:23:24 GMT

I would highly consider downgrading each "family" of cards to a lower or no AF, such as the Delta Reserve to a Delta Blue (no AF). That way, you can keep the age on account and some card benefits.

Re: Need advice about my AMEX accounts

Smooth_J — Mon, 09 Jun 2025 22:00:39 GMT

@KatzNDawgs wrote:
I would highly consider downgrading each "family" of cards to a lower or no AF, such as the Delta Reserve to a Delta Blue (no AF). That way, you can keep the age on account and some card benefits.

That's a good option and I didn't think of that. My credit limit on these cards isn't much (less than 5K) so I doubt they will lower my CL much, if any, since I am not paying a higher annual fee.

Re: Need advice about my AMEX accounts

Smooth_J — Mon, 09 Jun 2025 22:08:39 GMT

@pizzadude wrote:
Yeah it's understandable to be worried about AMEX opening the floodgates for your cards, but I suspect they'll be keeping you on a short leash for a while to make sure you're paying early & often.

I'd start with your charge cards, consider if you need both Gold & Platinum ? For the hotel cards, do you travel / stay at both Hilton & Marriott properties enough to justify both of these also ?

I switch properties when it's convenient to the place I goto. While I enjoy the perks and status, I find it difficult to digest the annual fee when I may only go 2-3 times a year needing a hotel, and only spending 1-2 nights per time. Yes I use my free night but I am not sure if I am really "saving" anything.

There was one time I spent 1.5 weeks in a hotel, but I would consider that rare since it was for a funeral.

Re: Need advice about my AMEX accounts

FicoMike0 — Mon, 09 Jun 2025 22:32:46 GMT

You do have some high priced af cards! I wouldn't pay the fees if I didn't get cash value back from usage. If you travel a lot, I suppose you might. I helped a friend a while back, she stays somwhat frequently at hilton. We found that she gets better value from the $150 Hilton surpass, than the $550 aspire.

So, if you want to keep the cards, consider downgrading to a less expensive, or even free, versions of hilton, Marriott and delta. Ditto bcp to bce. Maintains the tradeline. Also, a closed account continues to report and age for about 10 years.

As to the plat and gold, you'll have to decide if they are worth the fee.

Re: Need advice about my AMEX accounts

NoMoreE46 — Tue, 10 Jun 2025 00:55:42 GMT

Congrats on the last payment @Smooth_J !

I would wait to see what AMEX decides to do as mentioned. You have time before those AF kick in.

Regarding your anxiety about spending on your cards- the four credit cards may get reduced to very low CL (if they haven't been reduced already...)

Can you see what the CL are on those cards? Those CL maybe a deciding factor on which card(s) to possibly close.

Re: Need advice about my AMEX accounts

ktm — Sat, 14 Jun 2025 07:37:03 GMT

I would downgrade the Blue Cash Preferred to Blue Cash Everyday, unless you spend between $4417-$6000 / year on groceries - because to get more value out of Preferred than Everyday, you have to spend more than $4417 AND not more than $6000 / year on groceries. And if you stop at EXACTLY $6000, you only make an additional $85 with Preferred. Too much for me to keep track of for a potential $85 / year!

IF you are staying at hotels anyway - prepaying for one night / year with AF makes sense. I also agree with downgrading Hilton and Marriott to no annual fee versions. Same with Delta - IF you are flying Delta anyway, prepaying with AF makes sense. IF NOT - downgrade to no AF.

Unless you are using the TRAVEL benefits of Platinum, I would close that. I personally don't like the coupon part of Platinum and would rather pick vendors in those categories organically when needed.

good luck

Re: Need advice about my AMEX accounts

Smooth_J — Fri, 20 Jun 2025 13:43:45 GMT

Is it worth trying to "apply" for the new cards, vs downgrade, so I can get the bonus or it doesn't matter?

Re: Need advice about my AMEX accounts

sjt — Fri, 20 Jun 2025 15:51:22 GMT

Congrats on completing the Financial Relief Program! Im glad Amex will restore your accounts.

Aside from waiting to see what Amex does with your CL and APR, I recommend the following:

Spend some time doing analysis of what your spend will be in the future and assess each of the cards to see if they will match your spend.
Each of your Amex Cards has a downgrade path to a no AF card. So you can downgrade the cards that you feel wont give you any benefits based on your analysis.

Re: Need advice about my AMEX accounts

Smooth_J — Fri, 20 Jun 2025 17:05:31 GMT

@sjt wrote:
Congrats on completing the Financial Relief Program! Im glad Amex will restore your accounts.

Aside from waiting to see what Amex does with your CL and APR, I recommend the following:

Spend some time doing analysis of what your spend will be in the future and assess each of the cards to see if they will match your spend.
Each of your Amex Cards has a downgrade path to a no AF card. So you can downgrade the cards that you feel wont give you any benefits based on your analysis.

I am already doing that, and as others as said I will downgrade. While you can easily just call or text to downgrade, I am debating to see if I can apply to that lower-end card so I can get the intro bonus.

Re: Need advice about my AMEX accounts

Gregory1776 — Fri, 20 Jun 2025 18:17:46 GMT

@ktm wrote:
I would downgrade the Blue Cash Preferred to Blue Cash Everyday, unless you spend between $4417-$6000 / year on groceries - because to get more value out of Preferred than Everyday, you have to spend more than $4417 AND not more than $6000 / year on groceries. And if you stop at EXACTLY $6000, you only make an additional $85 with Preferred. Too much for me to keep track of for a potential $85 / year!

IF you are staying at hotels anyway - prepaying for one night / year with AF makes sense. I also agree with downgrading Hilton and Marriott to no annual fee versions. Same with Delta - IF you are flying Delta anyway, prepaying with AF makes sense. IF NOT - downgrade to no AF.

Unless you are using the TRAVEL benefits of Platinum, I would close that. I personally don't like the coupon part of Platinum and would rather pick vendors in those categories organically when needed.

good luck

I am up for renewal next month - I swear, people don't look at or consider the AmEx offers. Yes the AF reduces your rewards - a little.

I will in the just next month get $140 guaranteed over a few different offers one buying a custom shirt online by a company I just found a month or two ago, customized a shirt and didn't buy - now I have an offer - just saved 25 bucks.

every other penny on groceries plus $45 is straight into statement refund for the whole year, not including the other offers I get in the next 11 months.

BCP is overpowered. My rewards balance is 180 right now. I don't even know when the last time I redeemed was, but it was at least last year.

Re: Need advice about my AMEX accounts

Vinjints — Fri, 20 Jun 2025 18:56:03 GMT

Is there any decent place that talks about the offers and how regular they are? Mainly I'd be curious on how often GGR type offers are presented. Spend x at X retail store wouldn't be too appealing. I saw one link for Doctor of Credit, but that include MR points, so obviously those offers weren't specific to the BCP/BCE.

Re: Need advice about my AMEX accounts

KatzNDawgs — Fri, 20 Jun 2025 22:38:40 GMT

@Smooth_J wrote:
I am already doing that, and as others as said I will downgrade. While you can easily just call or text to downgrade, I am debating to see if I can apply to that lower-end card so I can get the intro bonus.

If your goal is to keep age of account on the higher tier AF cards, but ditch the AF by downgrading, then applying for the lower-end card defeats the purpose. Now you have a new card/account, that tier is taken, and you still are stuck with an older card with AF.

If bonus-chasing was part of what got you into this mess, I would carefully assess your choices and reasons for new cards.

Re: Need advice about my AMEX accounts

FicoMike0 — Fri, 20 Jun 2025 23:38:12 GMT

@Smooth_J

I think amex generally won't pay a sub if you have or had a higher tier card in the same family.

Re: Need advice about my AMEX accounts

sjt — Sun, 22 Jun 2025 17:58:05 GMT

Im not sure if you would qualify for a bonus, but if you apply they will tell you if you do or not and give you the option to cancel the application.

Re: Need advice about my AMEX accounts

fleetfoot — Fri, 16 Jan 2026 18:14:11 GMT

Smooth_J ,

I'm interested in an update from you. Did Amex decrease spending limits? Which cards did you close or downgrade?

I am two years into my 4-year Amex Financial Relief Program. I'm up to date with the payments toward my six cards and I had never missed any before enrolling in the program. I am faithfully awaiting the graduation from the Program in two more years, and I'm interested in knowing your experience with Amex since you completed their program. Incidentally, even though I am enrolled and cannot use the cards, I still received Marriott Bonvoy Elite Night credits the three past years from two cards (personal & business). I also received Free Night certificates from both cards for two years even though Amex has waived the cards' annual fees. I'll take it, along with the 9.99% APR on both cards. My Amex accounts are coded as "always paid/never late" in all three credit agencies. However, EXP and TU have manual notes indicating "in forebearance."