Hi there. I have pretty good credit (not sure of the score exactly), and always pay off my balances in full every month. I currently have the following cards: MBNA Platinum Plus VISA w/ Worldpoints, Wachovia branded, $12200 limit. Opened 2001. RBS Platinum Mastercard, $4000 limit. Opened 2003. Amex Green Rewards charge card. Opened 2004. I signed up for the Amex card because the $65/year fee was waived for the first year, and at the time I didn't have another rewards card. (I since upgraded my MBNA card to a Worldpoints one, so that's no longer an issue.) I'm considering cancelling the Amex card before the annual fee hits. I could sign up for another Amex fee-free card with membership rewards (Blue seems to have it) to keep my points, but if I do this, how will my credit rating be affected? Will my Amex account show up with a one-year history, or will it be as if it was a brand new card? Suggestions would be appreciated; thanks in advance.
According to http://www.membershiprewards.com/Eligibility.aspx, membership rewards can be added to a blue card; that's what I based my info on.
Amex Blue - Rewards Card I suppose you could tranfer awards between amex accounts if you got the Blue Rewards card
But as far as account age goes on my credit report, would the new Amex card be reported as a brand-new card, or would the account age of my Amex green be included?
if u cancel the green. the report will show it as closed by consumer and if u apply for a new one(credit card with no fee). this new trade line will be reported as it is (brand new card). The only way u can keep the old date would be if u trade(exchange) cards. but u can not trade a charge card for a credit card so u will lose ur 1 yr history with amex. but that is not big deal either. Blue is an excelente card btw. If i were u i would cancel the green, i dont like to pay anual fees either.
My Own Blue earns Membership Rewards Points so i assume u could use your same Mem Rew number on this card as well.
