Deciding whether to keep Amex Green

[xboxrunner]

I'm about 2 months from having my Amex Green card a full year. I'm not looking forward to the $95 annual fee. I haven't used this card much because shortly after I got the Chase Freedom and Citi Dividend cards; I use those two almost exclusively at this point. I don't do any travelling either, so Im trying to decide whether to close the account, or maybe prodcut change to the Zync (I dont mind paying the $25 to keep a Amex charge card). Anyone have some advice? Also, I have a Amex BCE on the way after being approved so Ill still have a active Amex.

[pizzadude]

Congrats on the BCE approval ! Have you asked AMEX if they will cut you a deal ? Call them up and tell them that you want to keep the green open but don't want to pay the $95. They might waive it, or offer the ZYNC downgrade option.

[jamesdwi]

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@xboxrunner wrote:

I'm about 2 months from having my Amex Green card a full year. I'm not looking forward to the $95 annual fee. I haven't used this card much because shortly after I got the Chase Freedom and Citi Dividend cards; I use those two almost exclusively at this point. I don't do any travelling either, so Im trying to decide whether to close the account, or maybe prodcut change to the Zync (I dont mind paying the $25 to keep a Amex charge card). Anyone have some advice? Also, I have a Amex BCE on the way after being approved so Ill still have a active Amex.

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Yes call them and see what they can do,  worse case you close it for a year or two untill you need them again, and re-app for another AMEX card and get a boost of your AAoA thanks to backdating  to 2011? Seems like a win to me, especially for a worst case senario, be sure to record the card number in case needed later for backdating purposes. 

[Anonymous]

In that situation, I don't think I would keep it.  I would call Amex and close it, if they counter-offered something I could always consider that.  But I wouldn't pay a $95 annual fee for a card I didn't use or have some really great benefits.

[JustMe77]

I would ask for the AF to be lowered, and if not...just close it. Not much point in changing to Zync when you have a BCE on its way!

[Anonymous]

Personally, I would never apply for a card with an annual fee. I always go for the $0 annual fee ones. 

[espnjunkie]

It depends on what you really want. I am willing to pay the annual fee for my AMEX green (waived the first year as well) so long as I am using it as my primary spending card. I charge everything to it and pif each month. It really depends on your usage and if you desire greater flexibility and rewards. While the Zync is a good fit for many people wanting to get in with AMEX, it is not eligible to be upgraded and the rewards pale in comparison to Green/Gold/Plat. If you could care less about travel and rewards go with the Zync.

[jumpinjax]

Quite honestly, it seems that the AF is part of the reason why you would consider closing the AMEX green card.  Unless finances are not adequate to keep up with the AF, it would be unrecommended to close such a TL.  Therefore, if you feel that two days after closing the card will make you feel better, then by all means do so.  Credit is a tool used to manage your finances, you shouldn't feel like you have your back against the wall on this one.  Do what makes you happy!  Also, since from your comment you have established credit with AMEX, you can always downgrade or come back to them later. 

Good Luck!

[espnjunkie]

It's worth it to keep an AMEX card open if even just for the future backdating purposes. The purchase protection and extended warranty features are great perks as well. For me, it was between the Zync and the Green to start with. When I looked at the Zync I asked myself if the rewards were really worth bothering for? Quite honestly there are much better cards out there for rewards that do not have an annual fee like the Zync. MR Express points are pretty useless, and the packs are all capped. I would keep the Green open and just charge everything to it to rack up MR points which can be used for pretty much anything.

[Anonymous]

Just to confirm with you guys, you can't PC from a charge product to a credit product right?