Quick Answer: Can I Downgrade Amex Platinum To Gold?

Is it bad to have a lot of credit cards with zero balance?

“Having a zero balance helps to lower your overall utilization rate; however, if you leave a card with a zero balance for too long, the issuer may close your account, which would negatively affect your score by reducing your average age of accounts.”.

Does Cancelling a credit card hurt your credit?

A credit card can be canceled without harming your credit score⁠—paying off your balances first is key. Closing a credit card will not impact your credit history, which factors into your score.

What credit score do I need for Amex Platinum?

700 or higherThe Amex Platinum credit score requirement is 700 or higher for good approval odds. Applicants need a good credit score or better to be approved for the American Express Platinum Card in most cases. Amex Platinum’s credit score requirement isn’t the only thing that determines whether you’ll be approved, though.

How many credit cards is too many?

In general, if you have one or two credit cards on hand, you’re good to go. But if you pay off your bill in full every month, never use more than 30% of the credit you receive, and make informed choices, then it’s not necessarily bad to have a lot of credit cards, especially if they provide a diverse array of benefits.

Does Amex prorated annual fee?

For starters, Amex allows you to get a full refund of your annual fee if you cancel your card within 30 days of the fee posting. If you downgrade your card after that, you can get a prorated annual free refund based on the amount of time left in the year. … An up to $250 annual airline fee credit.

Can I downgrade my American Express Platinum?

While you might consider downgrading to a no-annual-fee card such as the Amex EveryDay® Credit Card from American Express, and then eventually upgrading back to the Amex Platinum when the time is right, that isn’t possible.

How do I downgrade my Amex card online?

If you want to upgrade or downgrade your Amex card, the best next step to take is calling in to ask. Reach out using the customer service number on the back of your credit card, and a customer service representative will be able to help you go over your options.

Is Amex platinum worth it?

The card comes with a $200 Uber credit, $200 airline incidental credit, and $100 Saks Fifth Avenue credit — which effectively cancel out much of the annual fee. … Given the number of luxury benefits you receive from having the card, if you can afford the annual fee, then yes the Amex Platinum card is definitely worth it.

Is it better to cancel a credit card or let it expire?

In general, it’s best to keep unused credit cards open so that you benefit from a longer average credit history and a larger amount of available credit. Credit scoring models reward you for having long-standing credit accounts, and for using only a small portion of your credit limit.

Is it bad to have a credit card you never use?

Closing a credit card account — whether it’s unused or active — can hurt your credit score primarily because it reduces the amount of available credit you have. … Credit utilization is calculated both overall and per card, so removing a big limit from your total can send your utilization up and your score down.

How much is the annual fee for AMEX Platinum?

The Platinum Card from American Express has a $550 annual fee (see rates and fees), but for many travelers the card’s benefits will more than offset the annual fee.

How hard is Amex Platinum?

The credit score needed for the American Express Platinum is generally above 700. According to Credit Karma, the average score is 715. Although, several applicants with credit scores in the 600s have also been approved, even as low as 643.

What is the annual fee for Amex green card?

a $150 annual feeThe American Express® Green Card comes with a $150 annual fee (before it was $95). (See rates & fees) While the annual fee is $55 more, cardholders now receive up to $200 in annual statement credits that more than offset the annual fee.

Can I switch from one Amex card to another?

In order to switch to a new American Express card and maintain the same account, the new card must offer the same kind of rewards as your old card. … If you want to product change to an Amex card that doesn’t meet these requirements, you’ll have to cancel your original card and fill out a new application.

How do I get my Amex Platinum fee waived?

To get American Express Platinum’s annual fee waived, call the American Express retention department at 1 (800) 452-3945. State that you’re considering cancelling or switching cards because of the high annual fee.

How do I avoid AMEX annual fee?

If you don’t want to keep the card and pay the fee, you can go ahead and cancel. Or, thank them for their time, hang up, and try again in a few days. If you’re offered nothing, and you decide you don’t want to pay the annual fee, you can usually “downgrade” your card to the no annual fee version, if there is one.

Can you upgrade from Amex green to gold?

Re: Upgrade from Amex GREEN to GOLD Because of the CARD Act you will need to have had the Amex Green for at least a year. That is because the Gold card has a higher annual fee. Once that condition is met, your online account might have the option. Customer service will certainly be able to do it over the phone.

How do I get rid of my Amex Platinum card?

Call customer service at 1 (800) 528-4800, whether you are requesting a replacement card or closing the account, and American Express will either send a return envelope or provide an address where you can send the old card. You should not try to destroy an Amex Platinum card on your own.

Can you downgrade Amex Blue Cash Preferred?

If you don’t want to pay the higher $95 annual fee, you can cancel your card. Or ask American Express to downgrade the card to the AMEX Blue Cash Everyday card. It does NOT have an annual fee. Just keep in mind there’s a limit to the total number of AMEX cards you can have at once.

Can you downgrade Amex Gold to everyday?

If you want to downgrade to Amex Everyday, make sure to mention that card specifically to the agent. There is no way to downgrade an Amex charge card to a credit card, which is unfortunate because it would resolve the issue of losing Membership Rewards points.

Can I have two different Amex cards?

You can have four Amex charge cards and four Amex credit cards. All issuers have some sort of limit on how many cards you can have. In the case of American Express, any person can typically have up to four credit cards and four charge cards.