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04-03-2017, 07:44 PM #1
Annual Fee due, but one of my oldest credit lines
So one of the first cards I was approved for after working to improve my credit was a Delta Skymiles Platinum Card. It provided both a 50,000 point sign up bonus at the time as well as 10,000 MQM Miles. These are the medallion qualification miles that count towards frequent flyer status.
Over the last 4 years my credit has now improved further and I have a few other cards however this card is my 2nd oldest trade line.
From the research I have done the age of your trade lines is an important factor in credit reporting.
The Delta Platinum card has a $195 dollar annual fee but comes with a companion pass. The pass has some restrictions generally you need the cheaper fare class available to use it. The other issue is that it is NOT upgradable for either me or my companion. I have frequent flyer status with Delta and hope to get a complimentary upgrade when I fly.
So I called the customer service number for American Express this evening and told them I was thinking of canceling the card. They offered me either $100 dollars in cash or $12,500 miles. I decided to take the $100 credit and keep the card open. It will be good for my credit score and reduce the price of the card to $95 dollars for the next year and that does include a buy one get one free companion ticket.Current Fico Scores: 710 TU, 732 EQ
My Goal for 2016: 750+