I canceled both mine and Rob’s American Express Gold Delta SkyMiles Business Cards.
Remember, Rob and I got the cards last year because we each received 60,000 Delta SkyMiles and the $95 annual fees were waived the first year. (The current offer is back down to 30,000 Delta SkyMiles.) Neither one of us ever used the cards after receiving the initial 60,000 bonus miles.
I just got the bill for the $95 annual fee on each card. We never use these cards and do not want to pay the annual fee. I called American Express and asked them to waive the fees, they said no. So I canceled the cards. My reasoning was as follows…
1. I do not use this card enough nor do I consistently take advantage of the card benefits to justify paying the $95 annual fees
2. A downgrade option (good alternative to canceling) to a no fee card was not available.
3. I was able to move the credit line on this card to our respective American Express Blue Business Plus Cards. Remember, DO NOT CANCEL A CARD WITHOUT TRYING TO MOVE YOUR CREDIT LINE TO ANOTHER CARD. Lower credit lines, negatively affect your utilization ratio which leads to a lower credit score.
4. My credit score will drop but only a little bit and it rebounds pretty quickly.
