AMEX Gold Approval….Should we Close the Optima Card?

[WaldenEast]

See how much of a credit limit increase you can get on it. Likely not much, but maybe keep it another year "for the record."

[drboxing]

keep the Optima card, and utilize the Amex Gold as well.

[mystro9876]

Thank you everyone for your feedback!!  I'll keep it open until the next AF is due.  It's a small line (700) so it won't have much impact to utilization.

[Anonymous]

@mystro9876  I can certainly understand wanting to get rid of an annual fee. I only get credit cards with no annual fee, or that will graduate to no annual fee. But American Express is the exception. Amex is the only card I have with an annual fee, but it is completely worth it to me. American Express is the best there is, and if anyone deserves the annual fee it's them. I am actually jealous about your Optima card. It looks cool and it's kind of rare. It may sound funny, but I would love to have the Optima card. I have been an American Express member since 1997, and I've only ever had two of their cards. The American Express Green card, and the Gold Delta SkyMiles. I will never close an American Express card. I would definitely keep the Optima if I were lucky enough to have one.

[coldfusion]

@Anonymousthe Optima card is only used nowadays by AMEX as a targeted means of encouraging blacklisted clients to pay off debts owed and accelerate their removal from the blacklist in order to become eligible again for approvals of 1 or more of their standard cards.   It's neither designed nor intended to be held for the long term. 

[WaldenEast]

True. But you could get a credit limit increase on it. Probably not a huge one, could be double or a bit more.

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