topic Amex - Opinons needed! in Credit Cards

Amex - Opinons needed!

RockinRay — Tue, 05 Jul 2011 15:13:11 GMT

So, I have the following Amex cards open and I am considering closing one of them.

1. Zync.

2. Green.

3. Costco.

Since I just got the green and I am not going to purchase any "packs" with the Zync, I am thinking it should go. I am also considering a PC from Costco to Blue preferred.....

Thoughts?

Thanks,

Ray

Re: Amex - Opinons needed!

Alcibiades — Tue, 05 Jul 2011 15:43:54 GMT

If you aren't going to use packs, you should close the Zync. The main benefit of the Zync is the ability to get 2X points on the pack purchases.

However, if you do decide to get packs, I would keep all of your cards, especially since you can get true Membership Rewards points with your Zync (since it is linked with your green) as opposed to the normal Membership Rewards express points Zync cards usually gain.

Re: Amex - Opinons needed!

Anonymous — Tue, 05 Jul 2011 15:32:34 GMT

@Alcibiades wrote:
If you aren't going to use packs, you should close the Zync. The main benefit of the Zync is the ability to get 2X points on the pack purchases. Without

However, if you do decide to get packs, I would keep all of your cards, especially since you can get true Membership Rewards points with your Zync (since it is linked with your green) as opposed to the normal Membership Rewards express points Zync cards usually gain.

+1 Also I dont believe the Costco can be PC to anything else. I could be wrong though.

Re: Amex - Opinons needed!

Anonymous — Tue, 05 Jul 2011 16:07:17 GMT

@Alcibiades wrote:
If you aren't going to use packs, you should close the Zync. The main benefit of the Zync is the ability to get 2X points on the pack purchases.

However, if you do decide to get packs, I would keep all of your cards, especially since you can get true Membership Rewards points with your Zync (since it is linked with your green) as opposed to the normal Membership Rewards express points Zync cards usually gain.

+1. This seems to be a very logical approach.

Re: Amex - Opinons needed!

Walt_K — Tue, 05 Jul 2011 16:18:35 GMT

@Alcibiades wrote:
If you aren't going to use packs, you should close the Zync. The main benefit of the Zync is the ability to get 2X points on the pack purchases.

However, if you do decide to get packs, I would keep all of your cards, especially since you can get true Membership Rewards points with your Zync (since it is linked with your green) as opposed to the normal Membership Rewards express points Zync cards usually gain.

Just posted this elsewhere. Another option, if you're interested in accumulating MR points with the Zync is to not cash in any of your MR Express points until you reach a target number. You can add an MR eligible card at any time down the road and all of your MR Express points, that you accumulated while paying the lower AF of the Zync, will be upgraded to regular MR points. Of course you won't have the same flexibility to take advantage of a transfer bonus. But there is usually enough time to apply for a new card before the bonus period expires.

Re: Amex - Opinons needed!

Anonymous — Tue, 05 Jul 2011 17:13:42 GMT

I'd close the account that gives you the least rewards in relation to its annual fee (if applicable) based on your spending habit. Whatever leaves you with the most rewards. Some people decide by how pretty the card looks but that would be least on my list.

Re: Amex - Opinons needed!

RockinRay — Wed, 06 Jul 2011 12:44:27 GMT

Thanks for the feedback on this!

Right now, I am thinking the Zync may go - but - still thinking... I guess I could afford to keep it since the AF is so low.

Think, think, think.....

Ray