How To Say Goodbye After 13 years (Closing My First Card)

Good Bye Old Friend

Thirteen years ago I got my first credit card after graduating college. It was the AmEx Blue Cash. I had intended to keep this card forever, and gave advice on never canceling your oldest card to keep the adverage account age high. Once I joined the military I upgraded the card to a Blue Cash Preferred and enjoyed 6% cash back at the commissary.

Times have changed, the AmEx Rose Gold card came with its 4x points on Dining as well as groceries. This Rose Gold card ended up returning the same 6% I was enjoying from the Blue Cash Preferred, and it didn’t take up one of my coveted 5 Credit Card slots. With the SPG Basic AmEx Shutdown coming this Tuesday 12 February 2019, I knew that this card had to go since each of my 5 slots needed to produce an annual benefit. My lifetime plan is this:

  • SPG Lux (Marriott Bonvoy Brilliant)
    • $300 and 50k Night
  • SPG Regular (Upgrade to Bonvoy Brilliant in 1 yr)
    • Apply Before 12 Feb 2019
    • $300 and 50k Night
  • Hilton Honors Aspire
    • Free Weekend Night
    • $250 Airline Credit
    • $250 Resort Credit
  • Hilton Honors
    • Upgrade to anther Aspire
    • Close Delta Reserve after Companion Pass Use
  • Delta Reserve
    • First Class Companion Pass
    • Upgrade form Delta Platnium

With this set it and forget it strategy I can enjoy these annual benefits passively and spend less time churning and more time with my real estate ventures!

Now before I closed the account I made sure to transfer my credit to my existing lines. There is an option now under account management on the AmEx page:

I then cashed out all of my cash back credits by first requesting a statement credit, then opening a dispute for the credit to be sent back to me in the form of a check. I then waited a day and the credit came off my account and a check should be on the way for the amount.

Today I logged on and spoke with the online chat and requested the Ble Cash Preferred account to be closed. They urged me to downgrade it to a regular blue cash, but I requested the closure so I can use my wife’s link to apply for another SPG personal card (Non lux). I will not get the bonus since I had the card before.

This was a tough decision, but the free night I value at around $500 (Ritz Chicago Night) and the $300 benefit beings a total annual value of $800. If I were to get that with blue cash preferred I would have to spend $13,333.33 in groceries. This was not going to happen since it all goes on the Rose Gold and the Citi Anywhere Costco card.

-Derp

5 thoughts on “How To Say Goodbye After 13 years (Closing My First Card)

  1. bc says:

    Did you factor in the effect closing it will have on your credit score when making this decision?

  2. Julius says:

    I apply for the SPG (regular) today (11Feb19) and was denied. Called the Amex recon line (twice, HUCA), was told that because I already hold the SPG Lux (applied 13Dec18) I cannot be approve for the same family. Currently only have 3 amex CC. Aspire, SPG Lux and Delta Platinum. I was told no credit pull was done. Did I miss anything from your churning advice?

    • Julius says:

      After further HUCA, it was Auto denied for having too many application in 90 days: Amex business green(Nov18), SPG Lux (13Dec18) Amex Gold Card (15Dec19).

      • uiucderp2011 says:

        Thanks for the datapoint! I got approved for my SPG today, but only after it went to manual review. I had closed my Blue Cash Preferred just two days before. I got a Gold Business in December, Gold Card in October, Business Green in September. I guess the 90 day rule is in effect.

Leave a Reply

Your email address will not be published. Required fields are marked *