I took the plunge here at How I Save Money and decided to close my American Express Blue Cash card. I still have one Amex card that I will leave open because of the credit limit and the age of the account.

The card I closed has had its credit limit reduced by Amex repeatedly (while the other card stayed with a good limit). I do not use the card and they would not increase the limit, citing high utilization as the reason for denial. Well it seems to me that reducing my available credit every few months would increase the utilization each time…but as Carlos Mencia says ‘Dee Dee Dee’.

I know that closing this card will make my credit score go down a little bit but this is just for a short time so I am not worried. My credit score has been steadily climbing and is at a level I am comfortable with. I do not have any plans to incur new credit any time soon so now I have one less card on my open report.

I don’t really need to have two cards from Amex especially since I do not even use Amex anywhere. I am just keeping the other one open because of the credit history and the available limit on the card.