Amex Downgrade options

[bondsandloan]

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@Citylights18 wrote:

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@bondsandloan wrote:

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@Citylights18 wrote:

I would want to know exactly when that AF is going to be paid. Even though I did a product change in the month of August to gold at one point they still consider my renewal month as May with the AF due mid June.

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My application date was 30th June 2021, a day before the AF increase. So I believe the AF will come due in the next (13th) statement cut which I believe will be 26th of July 2022 at the higher $695 rate. 

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My date was 30th May 30th and the CSR said the AF would cut on June 13th, to be paid for by July 9th.

I would clarify with customer service as they would love to catch you napping.

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OK got it, will check with them & see when the AF comes due. Might be due July 19th but will check once more. Thanks!

Like the haul of your travel points. My spouse & I tend to haul ours together to book one way business class tix. Think we have like 1.2 million together -> any other use of points/miles you have found to be valuable to you? 

[longtimelurker]

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@Citylights18 wrote:

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@OmarGB9 wrote:

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Closing it wouldn't help fix that. Once a card has been opened, it'll continue to factor into your age metrics for as long as it's showing on your reports.

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If that is the case I'm never getting another personal card again.

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Well, it IS the case!   As @OmarGB9 says, once the card is open it becomes part of the age calculation.   Once closed, it will eventually drop off your report and cease to count, but this can be about 10 years after closure (at which point it might be a valuable part of the aging process!)

This is for FICO.   Some places, such as credit karma, may report on the average age of open accounts, which can lead to the misconception about closing accounts to help.   This is no more successful than getting rid of lates by closing the account.

[OmarGB9]

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@Citylights18 wrote:

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@OmarGB9 wrote:

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@Citylights18 wrote:

I would want to know exactly when that AF is going to be paid. Even though I did a product change in the month of August to gold at one point they still consider my renewal month as May with the AF due mid June.

AMEX Green I liked the best. I felt like I was getting my AF back with that one from shop small parking/transit discounts. It also had a Lounge buddy credit to offset some of that AF. My account though is only 2 years and bringing down my average account length so not sure if its worth keeping open.

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Closing it wouldn't help fix that. Once a card has been opened, it'll continue to factor into your age metrics for as long as it's showing on your reports.

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If that is the case I'm never getting another personal card again.

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Seems a bit extreme, but that's your choice of course. It's not like the card won't age as time goes on. As @longtimelurker mentioned, it'll stay for up to 10 years and contribute to your report age the whole time. As long as you have old accounts that are open and in good standing to anchor your age, opening new accounts shouldn't hurt you age-wise too badly.