I currently have an Amex Blue Cash Preferred Card. I have had the card for several years. I have never had a late payment, I have kept utilization under 50%, and I pay the card off twice a month. I also have a few other cards that I use much less, that have much lower credit limits, and that I have had longer.
I am considering converting my Amex to the Amex Platinum. However, I don't entirely understand how this will impact my score. I have seen multiple threads on how adding a new card that is an Amex Platinum will impact credit score, but nothing answering my question about conversion. A few things I'm wondering:
- From what I've read, it seems the switch would decrease my available credit number significantly since the Platinum has no credit limit/is a charge card, and since the Blue Cash alone accounts for the majority of my total credit line. It would also decrease my credit utilization because the Blue Cash is my primary card. What would the net impact on my score be? Is there a way to know/calculate?
- The Blue Cash is several years old. Would the switch reset the age of my account?
- What would the overall effect be? Are there any ways the Platinum would uniquely impact my score positively or negatively compared to the Blue Cash/a "conventional" card?
Also, this is moving slightly away from score questions, but any ideas whether the switch would impact what charges are approved? Particularly, would there be any reason to think charges approved on the Blue Cash would not be approved on the Platinum? I often use the Blue Cash for work travel expenses, which is not an issue with my current limit on that card. It would be problematic if that changed with the Platinum, because my other cards have much lower limits and it would be difficult to use them instead. I am guessing this would not be an issue as the Platinum is a slightly more exclusive card from what I see, but thought better to ask.
Thank you for any thoughts!
