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Amex Green Card

banana21 29 26 September 30, 2016 at 12:29 AM
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Last Edited by banana21 September 30, 2016 at 12:40 AM
Hi this is my first post on here and have a few questions about this card.

I recently got this card and don't use it much, I want to cancel/close it before I hit a year so I can avoid the $95 annual fee.

1. Are there fees to closing the account?

2. Will my credit score be affected if I do close?

5 Comments

1

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#2
I have never seen fees to close a credit card.
When you close a card it decreases your available credit. If you have other cards and do not carry a balance you will be fine. It shouldn't make a big difference to your score.
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#3
you could also look into converting it to a card with no annual fee like blue cash everyday.
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#4
Quote from tresh View Post :
you could also look into converting it to a card with no annual fee like blue cash everyday.
This is a charge card, you thing that could happen?

Quote from tresh View Post :
you could also look into converting it to a card with no annual fee like blue cash everyday.
Thanks for the reply

Quote from Rob_799 View Post :
I have never seen fees to close a credit card.
When you close a card it decreases your available credit. If you have other cards and do not carry a balance you will be fine. It shouldn't make a big difference to your score.
Thanks for the reply
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Last edited by banana21 September 30, 2016 at 04:30 PM. Reason: Automerged Doublepost
#5
Quote from banana21 View Post :
This is a charge card, you thing that could happen?
i didn't know it was a charge card, sorry. looks like as of 2014 they could not be converted. you'd have to call and ask to be sure.

https://community.americanexpress...hread/5064
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#6
Amex charge cards can't be converted to credit cards, and vice-versa. There's no fee to closing the account. The account will remain on your credit reports for 10 years for payment history, but will show as closed. It won't affect your utilization ratio, as it's a charge card, and there's no credit limit to it. Your score may be affected though, and it's something to keep in mind in the future. Make sure you only open credit/charge cards when you need to, and plan to keep them open. Amex sign-up bonuses are once per lifetime now, so if you just signup for the heck of it, you could miss out on a better bonus down the road for that particular card.
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