American Express Membership Rewards - Help deciding what to do with multiple cards

My primary card is my AMEX Platinum, which I plan to keep. My backup card is a no annual fee Visa Signature, which I also plan to keep. The Visa Signature has been open since 2007, the Platinum card I got earlier this year. Visa Signature has a 30K limit, but on my credit report it only reports at 15K…it has been like this for a very long time.

In addition to these two cards I have a British Airways Visa ($95 annual fee) and an AMEX MR Gold ($175 annual fee). I don’t regularly use either one of these cards now that I have the Platinum. I would like to have a card as a backup that I don't keep in my wallet, which is basically what both of these cards are doing right now. I also have a HSBC Best Buy card.

I read in a thread earlier today that I can't transfer a charge card account number to a credit card account number, which was my initial plan, to downgrade the MR Gold to a no annual fee AMEX CC, solving all problems.

Ideally I would like to close both of the cards above to avoid unnecessary fees, but I don't know how much of an adverse effect closing both may have on my credit, high 700's as of today, VS. paying the annual fees.

Would it actually help my credit score to open a true Credit Card because of the way the Visa Signature and the AMEX Platinum report to the bureau? For purposes of having the CC report a limit and ideally putting nothing or a minimal amount of money on the card.

Should I downgrade the Gold to the green or the Starwood card? Will they waive the first year annual fee if I do this?

Thanks in advance for the help.

My primary card is my AMEX Platinum, which I plan to keep. My backup card is a no annual fee Visa Signature, which I also plan to keep. The Visa Signature has been open since 2007, the Platinum card I got earlier this year. Visa Signature has a 30K limit, but on my credit report it only reports at 15K…it has been like this for a very long time.

In addition to these two cards I have a British Airways Visa ($95 annual fee) and an AMEX MR Gold ($175 annual fee). I don’t regularly use either one of these cards now that I have the Platinum. I would like to have a card as a backup that I don't keep in my wallet, which is basically what both of these cards are doing right now. I also have a HSBC Best Buy card.

I read in a thread earlier today that I can't transfer a charge card account number to a credit card account number, which was my initial plan, to downgrade the MR Gold to a no annual fee AMEX CC, solving all problems.
I would just close it if you do not find it useful and you don't want to pay the fee.

Ideally I would like to close both of the cards above to avoid unnecessary fees, but I don't know how much of an adverse effect closing both may have on my credit, high 700's as of today, VS. paying the annual fees.
The only adverse affect I can think of is if you need the BA card credit limit to help your utilization. It sounds like you do not carry balances so it probably will not have any adverse affect on you. I would close it if you do not find it useful and do not want to pay the fee. You can always ask when you call to cancel if you can change it to a card without an annual fee, or waive the fee. If they say no then I would cancel.

Would it actually help my credit score to open a true Credit Card because of the way the Visa Signature and the AMEX Platinum report to the bureau? For purposes of having the CC report a limit and ideally putting nothing or a minimal amount of money on the card.
What is your current utilization? If you do not normally carry balances you do not need more headroom on credit limits. You will probably see another card sooner or later that you desire. I would only apply for another card when you see a card that you find compelling due to signup bonus or some other reason.

Should I downgrade the Gold to the green or the Starwood card? Will they waive the first year annual fee if I do this?
I don't think they will waive the fee on a product change. I don't think you can change from Gold (charge card) to Starwood (revolving card) anyway. The rep will likely ask you if you want to cancel your PRG and apply for the Starwood. So the Starwood will be a new account separate from the old card. If you desire a Starwood, now is a good time to apply with the 30K bonus. The best thing to do there would be to close the Gold and then apply from a link that shows you the 30K Starwood offer.

Thanks in advance for the help.

Thanks for the advice, very helpful.

You are right, I never carry a balance, be it on the Visa or obviously the AMEX.

Well, first of all I'm wondering why you put spend on the Platinum rather than the PRG. I have both and the only time I've ever used the Platinum for spend is for spending in the MR mall (RIP). OTOH I use the PRG relatively often, for gas, groceries, and airfare.

But as to your actual question, I essentially agree with ddallas above: just apply for the Starwood Amex separately (the Amex Green is of less than no use to you), and then if you don't plan to use the PRG or the BA cards, just close them. The credit line on the SPG card -- which is a true credit card -- should replace the credit line you're losing on the BA card, so no problem there, and the SPG card is a very good one to actually use for spend.

As far as a card to keep out of your wallet, why not just get one of the $45 gold cards that are linked to your Plat? It will have a separate card number, so if your Plat is lost, you'll have a backup that way until it can be replaced.