Comments on: Why I Closed My American Express Blue Cash card

By: Gameinitiator

Gameinitiator — Mon, 24 Nov 2008 23:22:23 +0000

Credit cards are a must for me, but the debts have been really high and costly. It’s best to pay them off ASAP

By: Shawn Knight

Shawn Knight — Wed, 23 Apr 2008 00:05:55 +0000

Congrats, another card bites the dust! I have three cards paid off and only one more left before I will be credit card free forever

Now that I think about it, I need to call these three cards and close those accounts.

By: LuLuGal

LuLuGal — Fri, 11 Apr 2008 00:35:48 +0000

@ Mark:
Dude, do you know how many cards I have open? By closing that Amex, I now only have ONE Amex open. I have two Chase cards, Discover etc. etc.

@ Save Money:
I have never had a problem with the other Amex I have because the limit on it kept increasing too. It was just this one particular card….so I sacked it.

By: Save Money

Save Money — Thu, 10 Apr 2008 05:10:26 +0000

Hmm I’ve never had any problem with my Amex. The credit limits have been steadily increasing each year. I was unaware that by closing a cc you dropped your credit score, thanks for the heads up.

By: Mark @ TheLocoMono

Mark @ TheLocoMono — Thu, 10 Apr 2008 02:47:35 +0000

If anything, always try to keep at least one credit card open. I use a secured credit card so there’s no way they can reduce my limit any lower than the balance I have in the secured savings account.

By: LuLuGal

LuLuGal — Thu, 10 Apr 2008 02:35:22 +0000

@ H E C:
Yes your credit score will drop a few points when you close the card but if you are not in the market for more credit soon then I would not worry about it too much.

Since the amex is one of the cards you recently opened it will not have a big effect on your credit score as if it were one of your older cards.

Another thing to note is the available credit on the card. If you have a limit of $5000 then closing the card will bring your available credit down by a lot…but if it only has about $700 I would go for it. I closed mine because they brought the limit down to $500 and that was doing me no good at all.

By: her every cent counts

her every cent counts — Wed, 09 Apr 2008 17:25:08 +0000

I recently signed up for an american express blue cash and a chase freedom card. i use the chase card all the time but have stopped using the american express card after realizing i don’t really need it. I want to close it but i’m also worried about my credit score.