pillirevanth Posted April 17, 2019 Report Share Posted April 17, 2019 credit card cancel chesthe credit history taggutadi and it will be a mark on history. Quote Link to comment Share on other sites More sharing options...
phatposts Posted April 17, 2019 Report Share Posted April 17, 2019 Do not cancel the card you got first or the one with the most amount of history on your profile. Anta kanna amei ledu. With amex - there is a rule that you can get a bonus for a card only once per lifetime. If you were to downgrade make sure you are not losing the bonus on the downgraded version. Quote Link to comment Share on other sites More sharing options...
raccha rambabu Posted April 17, 2019 Report Share Posted April 17, 2019 13 minutes ago, phatposts said: Do not cancel the card you got first or the one with the most amount of history on your profile. Anta kanna amei ledu. With amex - there is a rule that you can get a bonus for a card only once per lifetime. If you were to downgrade make sure you are not losing the bonus on the downgraded version. Agreed. If you cancel the card that you have the longest tenure for , your avg tenure of holding a credit card gets reduced. History ki em bokka padadhu. Everything will remain the same except for above. And to get back to the original situation it will take a lot of time again. Anthakante em avvadhu. You can cancel it if you are OK with it. Quote Link to comment Share on other sites More sharing options...
Ara_Tenkai Posted April 17, 2019 Report Share Posted April 17, 2019 1 hour ago, user789 said: Not using one of the cc since 4-5 months - Any dis adv in cancelling ? just dont use it... if you cancel the avg length of credit history will be reduced and your credit score... Quote Link to comment Share on other sites More sharing options...
Ara_Tenkai Posted April 17, 2019 Report Share Posted April 17, 2019 21 minutes ago, phatposts said: Do not cancel the card you got first or the one with the most amount of history on your profile. Anta kanna amei ledu. With amex - there is a rule that you can get a bonus for a card only once per lifetime. If you were to downgrade make sure you are not losing the bonus on the downgraded version. they do an average of time...so it will definitely effect if any card is cancelled... Quote Link to comment Share on other sites More sharing options...
phatposts Posted April 17, 2019 Report Share Posted April 17, 2019 2 minutes ago, Ara_Tenkai said: they do an average of time...so it will definitely effect if any card is cancelled... let us say you have 5 cards. Card # 1 --> Opened 9 years ago Cards # 2,3 --> opened 3 years ago Cards # 4,5 - 1 year ago Depending on which card you cancel - the avg age of account changes. I would not be worried about cancelling cards 4,5 if i have to. I will be slightly more taken back for cancelling 2,3. I strongly prefer NOT to cancel Card # 1. If Card # 1 is giving me problems like - no benefits, annual fee etc then I will downgrade and make sure the age does not get reset. Different banks treat product changes differently. So you want to pay some attention when downgrading key cards for your profile like Card # 1 Quote Link to comment Share on other sites More sharing options...
xano917 Posted April 17, 2019 Report Share Posted April 17, 2019 1 hour ago, shaw183 said: american express annual 90$ paduthundi... $ appuledu asal vadanu...cancel cheyacha downgrade your card with no annual fee in that way there won't be any hit to your credit. Quote Link to comment Share on other sites More sharing options...
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