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Should I close my delta Amex

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Contributor

Should I close my delta Amex

Earlier this year around April, I got my delta Amex with a starting line with a $1000 which I was grateful for. I recently asked for cli and it was denied. Since April I have been able to get 2 chase cards with a $17,000 limit. I also have my paypal MasterCard at $5000 limit. In May, I got the Amex platinum as well. I plan to close all cards that I own that do not have a limit of $5000. Should I sock drawer the card. I already earned my 40000 miles. I haven't redeemed them yet.
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Established Contributor

Re: Should I close my delta Amex

Do you plan on flying Delta? If you can make use of the free perks it could be worth it to keep even with a low CL, but that's for you to decide. 






EX FICO (AMEX): 728 (4/29/17) | TU FICO (Discover): 737 (4/7/17) | EQ FICO (Citi): 746 (3/28/17)
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Valued Contributor

Re: Should I close my delta Amex

Well normally I'd say if a card no longer fits your needs and does not justify it's AF then by all means cancel it. In your case however I'd say hold onto it. You have had the card less than three months, so why not hold on and give it a chance, hold on at least until the next AF is about to come due. 

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Contributor

Re: Should I close my delta Amex

I fly delta about twice a year. That does make sense.
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Moderator

Re: Should I close my delta Amex


@A1987 wrote:
I fly delta about twice a year. That does make sense.

There ya go... with two round-trips you'll earn back the AF via baggage waivers with some change to spare... don't forget the other Delta perks as well!

 

I do 'feel your pain', though... I also have a Delta Gold with a $1k credit line, and in my own case I suspect they won't be giving me a CLI either (based on history from 16 years ago with them).  My plan is to go ahead and pay the AF the first year - even if I never fly Delta - and continue to use it for the Amex offers.  They are rather 'hit and miss', but when the really good ones come around it can be lucrative to have an extra Amex in the wallet.  Smiley Wink

 

Also don't forget the $50 statement credit for making a Delta purchase the first three months the account is open.  It's not guaranteed, but many people have been able to trigger this by purchasing a Delta gift card from the Delta website (google for details).  Again, YMMV, but it has worked for many people, and in the event that it doesn't work you'll just have a gift card to put toward your next flight... no harm done.  Smiley Happy

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Frequent Contributor

Re: Should I close my delta Amex

I questioned if I was going to keep my Delta Gold as well. Mine is also at a 1k limit, but the waived baggage fees is one of the reasons I've yet to get rid of it. I had originally got it for the bonus, and decided to make it even more worth while by flying Delta whenever possible. I've flown Delta twice since I've got it in March and that has saved me, my wife, and family a total in $350 in baggage fees. I have two more delta flights in Sep/Nov which will net me another $200 as well. Combine that with the priority on getting on the plane and the small discount and it's already worth it. I've even set my Amex Platinum $200 waiver fee to Delta, so I have almost nothing to worry about when it comes to flying with them at the moment.

 

Also, I've spent over the 1k credit line for plane tickets a few times already so the credit limit has yet to hurt me any way yet (of course I pay it off immediately). 

 

On top of that, since AmEx Platinum forces SPG Gold, I get SPG points for flying Delta via Delta Crossover rewards. I also rent my cars through Enterprise on the Delta website using my Enterprise membership number so I'm getting an over abundance of Skymiles, SPG points, and Enterprise points. Hopefully you can squeeze some more stuff out of the card... at least until the AF as Uncle B mentioned! Smiley Happy

[11 AMEX] 58.5k + NPSLs // [1 Cap One] 23.25k // [2 Discover] 15.9k // [2 Barclays] 10.15k // [3 Citi] 18.8k // [2 Chase] 24.5k // Amazon 6k
Starting FICO Scores: EQ 595, TU 625, EX 604 (01/14/15) w/ Total CL of $1.3k
Current FICO Scores: EQ 660, TU 672, EX 650 (09/20) w/ Total CLs of $169.1k
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Super Contributor

Re: Should I close my delta Amex


@A1987 wrote:
I fly delta about twice a year. That does make sense.

As UncleB says, the two round trips alone handle the AF. You remember checked bag fees? Since I've had my Delta card, no checked fees on Delta, so when Jet Blue tagged me for a $25 fee coming out of BOS I was like, "Seriously?".

 

The other thing you may not have experienced yet is getting Group 1 boarding, ahead of the cattle-call Group 2 boarding. It's a little thing, but wow is that nice.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
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Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
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Super Contributor

Re: Should I close my delta Amex

I'd opt to keep it for a few more months and see how it does for you. You just got it in April.

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Valued Contributor

Re: Should I close my delta Amex

The thought of keeping it open makes sense to me. Being that it's fairly new and may still grow, as well as you might still fly a couple of times, it may be worth holding on to. I can understand your initial thoughts on closing it though.
                               

Total Credit: $240,100Credit Utilization: 1%AAoA: 5 years, 7 monthsInstallments: Car Lease, Marcus LoanNegatives: 0

LOWES-35k | BOA-32.5k | AMEX-30k | DISC-27.1k | ALLIANT-25k | NFCU-25k | BARC-15k | BBUY-12k | CHASE-10k | WAL-10k | CITI-9.7k | PENFED-9.7k


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Established Contributor

Re: Should I close my delta Amex


@creditguy wrote:

Well normally I'd say if a card no longer fits your needs and does not justify it's AF then by all means cancel it. In your case however I'd say hold onto it. You have had the card less than three months, so why not hold on and give it a chance, hold on at least until the next AF is about to come due. 


I agree. Having the card for a longer period may increase your chances of getting a CLI providing your profile is to their liking. If you can benefit use from the card to justify the AF, I would be patient as the account will grow in time.


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