AMEX Reported as "CLOSED?"

[Gunnar419]

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@tacpoly wrote:

Was this Amex card your oldest account by a significant margin? 

I can't think of any other reason for the big drop in score directly associated with the closure.

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That would matter on CK. Shouldn't matter with actual FICO scores.

[gdale6]

Thread is locked and under moderator review

gdale6

myFico Moderator

Adding:

There have been several comments snipped from a post in this thread. I want to remind everyone that all commenting must be done in an FSR manner and we are not here to judge the OP or anyone else for that matter. The forum etiqutte thread has been posted by one of our CLs so I will not post it again but I do suggest that everyone follow it. I thank you for your understanding on this. I am going to re-open the thread to further comments and trust that everyone can remain on topic and helpful.

[trant3]

Logically, any card you open and request to close WILL report as "closed"... And for the annual fee, the PRG AF is Amex's bread and butter, why would they waive that, especially when you've just had it for one year.

[elim]

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@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? 

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  So many things are wrong here...  I just don't have the energy to begin.

[Watchmann]

I've been an AMEX Gold cardholder continuously since 1980, that's right, 36 years.  Plus I have two other AX cards, an old Optima Platinum revolver with a $38,000 line and a Starwood card.  My records only go back to 1990 but during that time I've charged an average of $15,000 to $18,000 annually on each card, in pretty equal amounts, never missed a payment or stiffed them.  I've always called to ask for a waiving of the fee due to my long term relationship with AMEX and have always been declined except for last year when they immediately said yes.  It is what it is, if you can't afford the AMEX cards or if they don't work for you cancel them, but don't complain because they won't give you a break on the fee.  The fee is part of their business model, you either accept it or not.  The three AMEX cards are my oldest tradelines on my CR so I give them some slack as they are important to me.  My overall age of my 17 accounts on my credit file is 15 1/2 years, so I keep hanging on to the cards.