@Irish - agreed. Amex won't waive the fee for low usage. I think the $75 credit is very generous!
And as others have said, once closed, it will still report for up to ten years, but it reports as closed.
And as others have said, once closed, it will still report for up to ten years, but it reports as closed.
Quicksilver $10,000 | Better Balance Rewards $2000 | Sallie Mae $3500 | Freedom $3500
You checked your 'fico bureaus'....
How and using what?
Sorry op, but if you asked for it to be closed, what did you expect? Closed accounts remain on your report for 10 years, but that doesn't mean it won't report as closed. Also, if you only spent $950 on the card, you can't really expect a retention offer. IMO, the $75 was generous. Anyway lesson learned. I also suggest checking your reports cause charge cards don't even factor into UTIL, and closing it wouldn't cause a score drop, so something else is up with your reports.
Wow... unrealistic expectations much? There are people who run thousands through their AmEx PRGs who can't even get what the OP received to offset some of the AF. CSRs have become quite adept at dealing with empty threats from cardholders, and I'm quite surprised that AmEx didn't voluntarily close the card themselves by call #4.
Regardless, I agree with what others have stated regarding closing a charge card and how minimal the effect should have been on the OP's credit report. When I closed an AmEx Platinum in December, there was absolutely no impact to my credit. That's not to say that it wouldn't have affected others, but definitely not in the realm of nearly 100 points. Typically, that kind of score drop can be attributed to negative information being reported to a bureau.
Finally, I've seen some rubbish posted on credit card forums, but never anything suggesting that a closed card wouldn't be indicated as closed on credit reports. That doesn't even make sense...
@Anonymous wrote:
@Anonymous wrote:Hey guys, so the annual fee for my Premier Rewards Gold card kicked in a month ago. I only ran about $950 through the card in a year (never redeemed my points) either whatsoever and have swiped my money through other credit cards I have. Because of this, I called multiple times to threaten to cancel the card to get the AF waived to no success like I was instructed on here and through other blogs. They tried offering me a $75 credit (which is pointless because I would still have to pay $100 for a card I don't even use). So long story short after about 10 phone calls back to back, I ended up getting p*ssed because none of the reps at the retention department were waiving the fee so I just flat out told them to cancel it and close the account.
So here is my problem: Everyone on here says that it will not show as a closed account on your credit report for 10 years. That is not a true statement. I just checked all my FICO bureaus and they all have my AMEX card reported as "Account closed at consumer request." My Equifax score went from a 749 to a 664 because of this!!! I am mad as hell right now.
Anyone else have this problem or is this a first?
The PRG has had a fee forever. The CCPs were courteous enough to even offer you any sort of credit; which, you refused.
This is just so not FSR...
@Anonymous wrote:
@Burned2manybridgesB4 wrote:You checked your 'fico bureaus'....
How and using what?
Good point because if he's getting this score drop from CreditKarma, who knows what affect the closing would have as they don't count closed accounts in AAoA calculations.
Yep. I'm betting CMS flavored score.
