Canceling Amex's oldest credit card and impact on credit score
Sep 20, 2016, 12:42 pm
#1
Original Poster
Join Date: Jul 2014
Location: LAX
Programs: Hyatt Globalist, AA EXP, Hilton Diamond, Wyndham Diamond, DL PM, Marriott Platinum, IHG Platinum
Posts: 1,305
Canceling Amex's oldest credit card and impact on credit score
Because of the cap on how many Amex issued credit cards one can have, I will have to close two of my oldest accounts to get two credit cards because of my change in loyalty preference. Any idea if this would have any impact on my credit score? My oldest Amex credit card is the Hilton and now has a history of 15 years. The second older is Amex Blue, which was automatically converted to Amex Everyday.
Sep 20, 2016, 6:03 pm
#2
Join Date: Jul 2016
Posts: 495
If you register on creditkarma, which pulls up your credit report from 2 bureaus and provides a credit score, you can use their simulation tool, which will tell you the specific impact if you were to cancel your oldest card. It is very specific for each person and creditkarma.com is free. Best of all, its simulation tool is tailor made for your situation because it has the option for what if I "cancel my oldest card". I used it myself and was surprised how little impact it had on me....but then my second oldest card had just as long a history.