2 Amex Everyday cards—how will closing effect credit?

[Anonymous]

Due to apping twice, I have two of the same card, both issued last week. One has a $500 limit, the other $2000. Is closing one a wise move or no?
Concerned about AAoA.

[Blodreina]

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@Anonymous wrote:
Due to apping twice, I have two of the same card, both issued last week. One has a $500 limit, the other $2000. Is closing one a wise move or no?

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Up to you.  Personally, I'd close it.  I didn't even know Amex issued cards with that low of a limit.

Here's a thread on closing credit cards.

[Brian_Earl_Spilner]

Why did you app twice? Regardless, the damage is done. Consolidate them into one card as soon as you can is what I would do. Or, reallocate to another card if you have another amex. Don't know how a pc works with Amex or how soon you can do one, if there's another card you like.

[Brian_Earl_Spilner]

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@Blodreina wrote:

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@Anonymous wrote:
Due to apping twice, I have two of the same card, both issued last week. One has a $500 limit, the other $2000. Is closing one a wise move or no?

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Up to you.  Personally, I'd close it.  I didn't even know Amex issued cards with that low of a limit.

Here's a thread on closing credit cards.

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They have a credit steps type program where you can be issued $500 or $1000 as a SL.

[AverageJoesCredit]

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@Blodreina wrote:

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@Anonymous wrote:
Due to apping twice, I have two of the same card, both issued last week. One has a $500 limit, the other $2000. Is closing one a wise move or no?

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Up to you.  Personally, I'd close it.  I didn't even know Amex issued cards with that low of a limit.

Here's a thread on closing credit cards.

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Surprised with how long you've been a member here you didnt know this but I guess we learn everyday. If your profile has issues, Amex can let you in with the bare minimum of $500. Lots of people have gotten this or 1k but eventually you can grow out of it through time and  improving ones profile

[Anonymous]

If you can meet the sign up bonus for each card you should keep both of them for now. Unless you call them and they cancel and don’t report one of the cards, I have no idea how likely that is. Assuming your offer is 10,000 points for $1,000 in 90 days and Amex gives it to you, you could end up with 20,000 points which would be nice. You will only be able to change to the EveryDay Preferred card which has a fee, at least that is what I was told. I wanted to change my bce to EveryDay and they said I could only change to Bce preferred.

[Anonymous]

The other reason for keeping is if you go above $6K a year on supermarket spending.   But using the card a lot (20 times a month) with a $500 CL might be painful

[wasCB14]

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@Anonymous wrote:

The other reason for keeping is if you go above $6K a year on supermarket spending.   But using the card a lot (20 times a month) with a $500 CL might be painful

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If someone is exceeding $6k on groceries, a PC to EDP (after a year) would likely be in order!

[Anonymous]

With a $500 SL, I'm not sure it can be combined.  Amex seems to have issues moving credit limits over that are $1K or less.  Essentially, they'll issue a $500 SL card, however, I've been told a number of times by CSR (I know CSRs are not super informed.) that $1K is the minimum line for cards.  I've had this discussion with my $1K BCE card.  Assuming the card has already been issued and it can't simply be cancelled, essentially the options are: 1. Keep it or 2. Close it.  

Congrats on your approval though.  

[Anonymous]

Your AAoA already took the hit for two new accounts, so the damage is done there. The real damage comes from opening accounts and the HP associated with it. Closing it would be a personal preferance, but it shouldn't hurt you as it will still report.  IMO you don't really need 2 of the same card, mainly because the $500 card will take some time to grow. Unless you plan to waste all your CLIs on it instead of the $2K card. 

As others have said, not sure why you double apped. They tell you not to apply for it again while processing. Thoug I can see where glitches could happen.