AMEX Question

[Anonymous]

I just have a quick question concerning AMEX Blue & Clear accounts that I always PIF'd. I had these 2 cards for about 2 years and they were recently cancelled by AMEX for other accounts too high. I only owed about 2,100 on about 25,000 of available credit with other CCC's.

I don't want the AMEX cards anymore but will it hurt my score because they cancelled the cards?

[Creditaddict]

loosing over 20k in available credit will for sure hurt you if your utilization is high on other credit cards because now your util is calculated on 20k less credit.

might be a good idea to try to replace that credit line before it shows as gone on your credit reports. 

[Anonymous]

If I understood correctly, you have $25k in "other" cc's, not including AMEX, with about $2100 useage.

That's within the 9% range, so you look good there.

Do you have any balances with AMEX?  You said PIF I think.  So, if you don't have balances with AMEX, you will not be hurt on the closure having $25k in exisint CL and under 10% utilization.

The AMEX account history will continue to factor into your AAoA for 10 years....so other than not having access to them, you will still gain that advantage.

Hopefully these were not your oldest tradelines.  If so, in 10 years you will have some effect from them dropping.

[Anonymous]

Thanks Txjohn... That was my question..

[Anonymous]

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