I have had a Green card since 1999. A year ago I got a Blue Cash Preferred card. I now pay $55/yr for the Green and $75/yr for the Blue. I now put everything on the Blue (earning back gobs more than the $75/yr fee). Meanwhile I am putting nothing (zero, zilch, nada!) on the Green card yet still spending the $55/yr fee on that card.
Is it safe, credit-wise, to just cancel the Green card? I've hear that canceling a card can negatively impact my credit. I've also heard that it is bad to close a credit card that has been in good standing for a very long time (1999 in this case). However my Blue card, which I have only had for one year, still has "Member since 99" printed on it. Does this mean I really just have "one" credit account with American Express, and the length of time I have held any of the individual cards does not matter?
Is there any benefit to keeping the Green card at $55/year when I am not charging a cent to it?
Thanks for any opinions!