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When is it safe to cancel after year 1?

jdbkiang
Established Contributor

Re: When is it safe to cancel after year 1?


@SkyCommander wrote:

I'd pay the AF and not apply for any other Amex card just to not be on Amex's radar. Think in the long term you can still get a bonus or risk not being able to because of pattern of open/close or downgrades. That's what I'm doing with my SPG card I'm renewing it just to stay off the radar. Then next year when your AF appears you can move CL and cancel.


Just curious how long you think you should keep it open before you cancel? I'm already in month 13 and have paid an AF already. 



[2/2019]
Message 11 of 14
SkyCommander
Frequent Contributor

Re: When is it safe to cancel after year 1?

Think about it when the AF appears next year. Not a day or two before but when you actually login and SEE the AF charged to the account go to cancel. See if you can transfer some of the limit to another card and then cancel it and hope it's done through an automated line. If an agent gives you any pushback you tell them the card has redundant benefits to your other Amex.

Chase Hyatt | Chase Freedom | Chase Freedom Unlimited | Amex ED | Amex Hilton | Amex Bonvoy | BoA Amtrak
Message 12 of 14
SBR249
Established Contributor

Re: When is it safe to cancel after year 1?

I'm going to be contrarian and say that if you don't have any SUB plans with AmEx in the near future, go ahead and cancel or downgrade. If this card truly has no marginal benefit in your portfolio, it's foolish to pay an AF to avoid the possibility that you might end up on AmEx's SUB-denial list. Anecdotal reports suggest that AmEx is more forgiving of people who put a lot of spend through their cards, so if you truly do put decent spend through your AmEx cards, I don't see this one portfolio adjustment putting you straightaway in the doghouse. But as others have suggested, tread lightly from now on and show AmEx some love. 

 

Of course, if you do have app plans with AmEx in the near future, then don't tempt fate. Let it be and revisit the issue after the 2nd AF hits. 

Message 13 of 14
jdbkiang
Established Contributor

Re: When is it safe to cancel after year 1?


@SBR249 wrote:

I'm going to be contrarian and say that if you don't have any SUB plans with AmEx in the near future, go ahead and cancel or downgrade. If this card truly has no marginal benefit in your portfolio, it's foolish to pay an AF to avoid the possibility that you might end up on AmEx's SUB-denial list. Anecdotal reports suggest that AmEx is more forgiving of people who put a lot of spend through their cards, so if you truly do put decent spend through your AmEx cards, I don't see this one portfolio adjustment putting you straightaway in the doghouse. But as others have suggested, tread lightly from now on and show AmEx some love. 

 

Of course, if you do have app plans with AmEx in the near future, then don't tempt fate. Let it be and revisit the issue after the 2nd AF hits. 


Nothing in the near future unless they miraculously hand me the 100K plat offer or the Green does get revamped. Aside from that, the only credit card I might want from them is the Hilton Biz, but maybe down the road. If I did want that card though, I would have to cancel this one as it's already my 5th credit card with them.



[2/2019]
Message 14 of 14
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