Originally Posted by
ANC RED-EYE
Thinking about canceling my SPG AMEX as fee will start soon. Does anyone know if it is possible just to have AMEX switch programs/convert cards? If so, would I qualify for this signup bonus? And would I avoid any credit inquiry?
Thanks in advance.
I would first sign up for the HH Amex. Then call and cancel the SPG. The cool thing about Amex is that your credit report shows the Account Open date for all Amex cards as the open date on your earliest Amex, thus helping to age your credit. E.g. if you opened the SPG in 2009 then, although you are opening the HH in 2011, your credit report will show the HH as being open since 2009.
Inquiries are interesting. If you have an existing relationship with a company then they are likely pulling your report/score on a regular basis anyway. I pulled all 3 of my bureau scores and reports about a month ago. Amex seems to be pulling my Experian 2, sometimes 3 times a month -- and up until recently I only had 2 cards with them (now 3). So I am not sure if they will just look at the most recent one they already have on file, or pull a new one. I am planning on buying all 3 reports again in the next month or so, as I recently completed somewhat of an app-o-rama (right after pulling my reports in June). I want to see how the new cards and inquiries affected my scores, and also see which inquiries hit where.
BTW, I got this card last month and have used it for a few purchases and a Hilton stay. Man, is it ever easy to rack up the HHonors points. After just one stay I hit 26547 points. 20k for the Amex first use bonus, 1290 base HH points, 1290 from HH double points promo, 645 from 50% bonus HH "points and miles" choice, 500 from "Amex online booking bonus" (which I never heard about before it showed up on my statement), 322 points from Gold VIP 25% bonus (from Visa Signature promo), and the 2500 bonus points from the HH Amex for my first stay at a Hilton. Phew! So even discounting the bonus points from the HH Amex, the HH bonuses all came to ~4000 points from a one-night stay at $129. And just recently the 30k bonus points from the $500 spend. All of this hit my HHonors account before my first billing statement has even come out. (Although the normal points per dollar spend have not hit yet and probably will not until the billing cycle is over.) Incredible.
One thing to note is the Amex website has a place that shows "HHonors" rewards, but mine has stayed blank. (It is right under the Membership Rewards balance, if you have a Membership Rewards card.) Maybe it will show something when the billing cycle hits. But don't worry about it if you notice it blank -- the bonus points will still hit your HHonors account without ever showing up on the Amex website.