Closing Accounts

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Vandalized2
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Closing Accounts

Postby Vandalized2 » Mon May 27, 2013 11:27 am

If i close an account that has not reported to the credit bureaus yet will it reflect badly against me?

Because I applied for a card that I am never going to use and it has an annual fee and I was kinda dumb to apply for it I just thought it would be cool to have it now i have no use for it (AMEX GOLD)


s.jessica
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Postby s.jessica » Mon May 27, 2013 12:23 pm

Why not just PC to Green? It should have been a SP since you have BCE so there shouldn't be an inquiry for it on your credit reports.

MemberSince99
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Postby MemberSince99 » Mon May 27, 2013 1:11 pm

It will be a hard pull. Approvals on AMEX are ALWAYS hard - if you are a customer and you don't get approved then it's a soft. Only exception is if you are on their blacklist - then there is no pull either but obviously you don't get the card.

I don't know that it will reflect badly against you. If you really don't want to eat the annual fee, then close it, but remember you get the first year free. Might as well keep that long maybe by then things will have changed and you will want it. Just a thought. Why close it now given the first year is free?

im_mr_awesome
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Postby im_mr_awesome » Mon May 27, 2013 1:20 pm

I would keep the gold card given the free first year. If you absolutely don't want to pay the annual fee, as others have said, PC it to a Green and it's not too bad. It's nice to have a charge account for many reasons that absolutely make up for the annual fee. Too bad they pulled the Zync card.
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MemberSince99
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Postby MemberSince99 » Mon May 27, 2013 3:06 pm

Yeah I know, I miss the Zync too. I think we are in the minority, but I actually liked the rewards program and the lower annual fee. And people who don't know cards would think it was some kind of "exclusive" Amex if they didn't see them all the time, not realizing the black card is the exclusive one!

If it was still available and I could choose only one Amex charge that would be my first option.

tanyasf
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Postby tanyasf » Mon May 27, 2013 6:57 pm

Just closed it ,I've closed 7 store/credit card .Nothing happen

Bksuper
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Postby Bksuper » Mon May 27, 2013 8:40 pm

MemberSince99 wrote:It will be a hard pull. Approvals on AMEX are ALWAYS hard - if you are a customer and you don't get approved then it's a soft. Only exception is if you are on their blacklist - then there is no pull either but obviously you don't get the card.

I don't know that it will reflect badly against you. If you really don't want to eat the annual fee, then close it, but remember you get the first year free. Might as well keep that long maybe by then things will have changed and you will want it. Just a thought. Why close it now given the first year is free?

This. If you close it, they may or may not report the account since they hadn't reported it yet, but it won't do anything to stop the hard pull you've already gotten by app'ing.
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