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Safe to close some Amex cards?

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Valued Contributor

Safe to close some Amex cards?

Curious if I’m safe to close some cards. My BCE is about 17 months old and my Delta Gold just hit a year and had AF post. Both have $1k limits. BCE didn’t have a SUB and Delta Gold wasn’t an elevated offer. I’d like to close both. Then I can just reapply for Delta Plat with the crazy current offer and get a usable limit.

My only concerns are the elevated Bonvoy Brilliant SUB I just hit MSR on, but haven’t gotten yet, and the elevated Hilton upgrade offer I just accepted. Is it safe to close Delta and BCE? Don’t want Amex to be shady and deny the SUBs on Bonvoy and Hilton because I closed these.
WALLET; US Bank Altitude Reserve & Citi Double Cash
PERSONAL; Amex | BBVA | Capital 1 | Chase | Citi | Discover | NFCU | Synchrony | US Bank
BUSINESS; Amex | Citi
F8 Current EQ•775 | TU•768 | EX•762
TOTAL PERSONAL CL > $220k
Message 1 of 8
7 REPLIES 7
Community Leader
Super Contributor

Re: Safe to close some Amex cards?

The Delta Gold I'd go ahead and close if the benefits/AF/limit aren't what you want. The BCE if you could I would hold off on closing for at 6-12 months so you don't give AMEX any ideas on a possible SUB app denial. It has no AF and it can keep til your AMEX card lineup is more to your liking before closing it as well.

 

My concern with apping for the Delta Plat is that you're still going for your mortgage, right?

Message 2 of 8
Valued Contributor

Re: Safe to close some Amex cards?

Thanks!

I am, I don’t necessarily mean apping for it now but an elevated offer at a later time. They seem to run a few times a year.
WALLET; US Bank Altitude Reserve & Citi Double Cash
PERSONAL; Amex | BBVA | Capital 1 | Chase | Citi | Discover | NFCU | Synchrony | US Bank
BUSINESS; Amex | Citi
F8 Current EQ•775 | TU•768 | EX•762
TOTAL PERSONAL CL > $220k
Message 3 of 8
Valued Contributor

Re: Safe to close some Amex cards?

The mortgage prep is something that seems a bit gray to me but for the sake of safety I’ll heed all advice found here.

I say it’s gray because my mortgage middle score is 720, despite how active I’ve been, with a short sale still reporting. That will fall off shortly and I’ll be clean so I’m expecting a pretty large jump.

DW has significantly lower scores, to the point where we may not include her and if we do include her my score doesn’t set the rate anymore.

Also, my income alone allows us to buy what we’d like well within DTI standards. Like I said I’ll certainly heed the advice here but that’s just what I’ve figured out thus far.
WALLET; US Bank Altitude Reserve & Citi Double Cash
PERSONAL; Amex | BBVA | Capital 1 | Chase | Citi | Discover | NFCU | Synchrony | US Bank
BUSINESS; Amex | Citi
F8 Current EQ•775 | TU•768 | EX•762
TOTAL PERSONAL CL > $220k
Message 4 of 8
Community Leader
Super Contributor

Re: Safe to close some Amex cards?

If that's the case then hold off on the app, close the Delta Gold card so you don't get charged the AF, hold off on the BCE (just SD it), and when the elevated offers come around again whether it's increased miles, MQMs, or both then decide if the mortgage hasn't closed yet if it's worth it. Personally, I'd wait til the sale is final but that's just me. A new home for your family should be your priority atm over a SUB/companion certificate.

Message 5 of 8
Valued Contributor

Re: Safe to close some Amex cards?

I completely agree with your thought process! The only other thought I had, and tell me if I’m wrong so I stop thinking it, is that an app this month would show as a year old come closing June 1 2020. If my thought process is off or I’m missing something there fill me in because you’re right a credit card is nothing compared to a home for my family
WALLET; US Bank Altitude Reserve & Citi Double Cash
PERSONAL; Amex | BBVA | Capital 1 | Chase | Citi | Discover | NFCU | Synchrony | US Bank
BUSINESS; Amex | Citi
F8 Current EQ•775 | TU•768 | EX•762
TOTAL PERSONAL CL > $220k
Message 6 of 8
Community Leader
Super Contributor

Re: Safe to close some Amex cards?

For credit reporting purposes yes but not with the bank/creditor. I feel like I had to make that distinction just to be safe.

Message 7 of 8
Valued Contributor

Re: Safe to close some Amex cards?

Great, thanks! Then I’m firmly in the garden! Also new, AFAIK, DP. Amex will not allow a card below $1k even when closing. No more transferring $500 off.
WALLET; US Bank Altitude Reserve & Citi Double Cash
PERSONAL; Amex | BBVA | Capital 1 | Chase | Citi | Discover | NFCU | Synchrony | US Bank
BUSINESS; Amex | Citi
F8 Current EQ•775 | TU•768 | EX•762
TOTAL PERSONAL CL > $220k
Message 8 of 8
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