Downgrade or Close?

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Marcov719
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Downgrade or Close?

Postby Marcov719 » Mon Jun 23, 2014 11:59 pm

Alright everyone I need your opinon on closing my AmEx PRG or downgrading to regular gold or green. The card doesn't see much use anymore so I can't justify paying $175 for it but then again it was my very first AmEx card (actually green was but you get the point). I guess the card has some sentimental value to me lol. Is it a smart move to close this charge card or should product change to a card with a cheaper annual fee and keep if for back dating purposes? I also have a AmEx Everyday and AmEx Buisness.


lexrj
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Postby lexrj » Tue Jun 24, 2014 1:58 am

Marcov719 wrote:Alright everyone I need your opinon on closing my AmEx PRG or downgrading to regular gold or green. The card doesn't see much use anymore so I can't justify paying $175 for it but then again it was my very first AmEx card (actually green was but you get the point). I guess the card has some sentimental value to me lol. Is it a smart move to close this charge card or should product change to a card with a cheaper annual fee and keep if for back dating purposes? I also have a AmEx Everyday and AmEx Buisness.


I'd say close it, for that kind of AF and no use or real benefit its a no brainier. Unfortunately amex charge cards really lost their value for most ppl unless you're really taking advantage of the MR points or the Plat benefits. You can always get it again backdated.
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Marcov719
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Postby Marcov719 » Thu Jun 26, 2014 10:50 am

lexrj wrote:I'd say close it, for that kind of AF and no use or real benefit its a no brainier. Unfortunately amex charge cards really lost their value for most ppl unless you're really taking advantage of the MR points or the Plat benefits. You can always get it again backdated.


Yea looks like it's what I'll be doing. Waiting for a few more points to post so I can clean out the little MR points I do have before closing.

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djrez4
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Postby djrez4 » Thu Jun 26, 2014 10:55 am

Your MR points from both the PRG and the Everyday should be in the same MR account. As long as you keep the Everyday open, the points will stay there. No need to liquidate.
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takeshi
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Postby takeshi » Sat Jun 28, 2014 12:55 am

Marcov719 wrote:keep if for back dating purposes?.

Not sure what you mean. You can open a new AmEx at any time for backdating purposes since the new card will be backdated to the year of your MSD. You don't need to keep your first AmEx open.

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Postby luvbullmarkets » Sat Jun 28, 2014 11:47 am

I shall be in the very same predicament coming August. My PRG A/F is due in September.

I figure it is best just downgrade to Green and save $80 in A/F.
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Marcov719
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Postby Marcov719 » Tue Jul 01, 2014 10:38 am

luvbullmarkets wrote:I shall be in the very same predicament coming August. My PRG A/F is due in September.

I figure it is best just downgrade to Green and save $80 in A/F.


I'm considering Green but I'm curious of the annual fee I paid for the PRG get's prorated for canceling early? Would be nice to have it pay off the annual fee for the Green.



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