Will closing my Amex hurt my credit?
Will closing my Amex hurt my credit? If you're not using your card, simply having an open card account can help your credit score in two different ways: credit utilization and length of credit history. Closing a credit card account can negatively affect both of those components of your credit score.
Why is Amex annual fee so high?
The main reason why Amex cards are so expensive is that many American Express credit cards offer generous rewards rates and high-end perks, which warrant steep annual fees.
Is it better to cancel unused credit cards or keep them?
In most situations, it's better to keep unused credit card accounts open, as closing credit accounts can have a negative impact on your credit score.