How do I close my Green AMEX?

[Anonymous]

I have worked very hard to get my score to 772 and now I want to cut some more expenses. 

My Green AMEX  costs a huge annual fee and I want to drop this card.

I haven't used this card for over a year.

How much will that hurt my credit score?   I have other AMEX cards and just don't have use for this one.

How should I go about it?

Thanks!

[Anonymous]

Welcome!

How long have you had the card? Does it have a clean history?

If it's your oldest ever card with no late pays, consider converting it to an AmEx credit card (the green is a charge card) with no fees.  I know you already have other AmEx cards, but if you convert that account you'll keep the good history.  Otherwise, just call 'em up and ask to cancel.  You'll keep the good history to date but the account will be wiped off your report eventually.  They will beg you not to cancel.

[Anonymous]

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@Anonymous wrote:

Welcome!

How long have you had the card? Does it have a clean history?

If it's your oldest ever card with no late pays, consider converting it to an AmEx credit card (the green is a charge card) with no fees. I know you already have other AmEx cards, but if you convert that account you'll keep the good history. Otherwise, just call 'em up and ask to cancel. You'll keep the good history to date but the account will be wiped off your report eventually. They will beg you not to cancel.

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From what I understand AMEX will not let you convert a charge card to a credit card. Before you request to cancel, if you've had the card for a while I'd at least see if you can convince them to waive the AF.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

Welcome!

How long have you had the card? Does it have a clean history?

If it's your oldest ever card with no late pays, consider converting it to an AmEx credit card (the green is a charge card) with no fees. I know you already have other AmEx cards, but if you convert that account you'll keep the good history. Otherwise, just call 'em up and ask to cancel. You'll keep the good history to date but the account will be wiped off your report eventually. They will beg you not to cancel.

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From what I understand AMEX will not let you convert a charge card to a credit card. Before you request to cancel, if you've had the card for a while I'd at least see if you can convince them to waive the AF.

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They converted my green (charge) to blue (credit), but YMMV.

[Anonymous]

Thanks for all the advice!

I've had this green card since 11/05.  I only used it once. 

The oldest AMEX card I own is a platinum one since 1984.

And yes, I am that old!  Actually I am 60 years young

I also have 2 blue cards and a simply cash card. All my cards are in excellent standing.  I only use the simply cash at the moment.

I called and of course they wanted me to wait until Dec to cancel when the $95 fee will be due again.  

I asked about converting it to another card and they said they can't do it on a Green card. I asked if they will refund a prorated amount to me if I cancel it now.

They didn't want me to close it, but I did and they will issue the refund.

I appreciate all your help.

[Anonymous]

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LadyInvestor wrote:

I asked about converting it to another card and they said they can't do it on a Green card.

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They lied.  They did it for me about 3 months ago.  Next time someone tells you "no," hang up and call back and talk to another CSR.  They'll probably be happy to do it!

Good for you for pushing for the refund!

[Anonymous]

They lied.  They did it for me about 3 months ago.  Next time someone tells you "no," hang up and call back and talk to another CSR.  They'll probably be happy to do it!

Good for you for pushing for the refund!
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Those LIARS!  I just hate that.   

I really don't use my Platinum card anymore either.  What do you think I should do with this one?  

Ask them to drop the fee or to convert it to another card? If so, which card?

Their annual fee goes up every year and I just don't know if it's worth it anymore.

[Anonymous]

Sooooo not worth it to pay an annual fee.  Why give money away?  The only time it makes sense to pay a fee for a credit card is when you have bad credit and are in rebuilding mode.

Search the AmEx threads here for different views on which cards are best, although everyone has their own ideas.  I have Blue because it's cashback and I couldn't care less about joining yet another rewards program.