replace amex charge with amex credit?

[afbar1114]

I was think about doing this if and when i got bcp. Any one think its a good idea?

[LS2982]

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@afbar1114 wrote:
I was think about doing this if and when i got bcp. Any one think its a good idea?

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Appbar Jr,

Plotting for future new credit is just as bad as apping new credit!!!!

[afbar1114]

Lol not for me i like to have a goal to shoot for and i was wondering if this is a bad idea

[Anonymous]

If you'd never use the card again, then it's not worth paying the annual fee.  I've been wresting with a similar issue, as I think I'd rather just earn cash back instead of MR points.

[afbar1114]

Yea me too. I think i would get a gc before i closed it though and then i would only have four cards. But i most likly would wait until i got a cli on it.

[haulingthescoreup]

I started with a Gold (no fee the first year), and decided I'd rather have a Blue. My brain doesn't "get" points cards.

Anyway, I did what others mentioned: got the Blue in month 10, made sure it reported, and canceled the Gold before it charged the fee. Worked fine.

However, for those who don't realize this, you can't PC (product change) from a charge to a revolver and vice versa. You'll have to do a new app (generally an EX pull.) But the card won't report as new, due to the backdating, and if you get it a month or two earlier than the first card, as long as it's January or later, the new card will report as older than the old.

So:

--old card opened in March 2010, new card in Feb 2011, new card will be dated Feb 2010, making it older

--old card opened in March 2010, new card in Dec 2010, new card will be dated Dec 2010, making it younger, which it is

So, wait until January at the earliest if you're in this scenario.

[android01]

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@haulingthescoreup wrote:

I started with a Gold (no fee the first year), and decided I'd rather have a Blue. My brain doesn't "get" points cards.

Anyway, I did what others mentioned: got the Blue in month 10, made sure it reported, and canceled the Gold before it charged the fee. Worked fine.

However, for those who don't realize this, you can't PC (product change) from a charge to a revolver and vice versa. You'll have to do a new app (generally an EX pull.) But the card won't report as new, due to the backdating, and if you get it a month or two earlier than the first card, as long as it's January or later, the new card will report as older than the old.

So:

--old card opened in March 2010, new card in Feb 2011, new card will be dated Feb 2010, making it older

--old card opened in March 2010, new card in Dec 2010, new card will be dated Dec 2010, making it younger, which it is

So, wait until January at the earliest if you're in this scenario.

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Good advice!  I wish I knew that before I apped for a new AMEX card in December of 2009.  My original AMEX was from March of 1986, and the new card was backdated to December of 1986.  

[afbar1114]

So i am waiting til jan 2013 then to open a new card like bcp. Then cancel zync...

[haulingthescoreup]

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@afbar1114 wrote:
So i am waiting til jan 2013 then to open a new card like bcp. Then cancel zync...

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Sounds like a plan.

[Revelate]

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@android01 wrote:

Good advice!  I wish I knew that before I apped for a new AMEX card in December of 2009.  My original AMEX was from March of 1986, and the new card was backdated to December of 1986.  

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Heh, because an extra 23 years of tradeline sucks so much amirite?