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Question By
reedz60

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Applied for 2 AMEX cards but only really want one
I applied for the AMEX Everyday a week ago and got approved for 10k but the Blue Cash Everyday suits my spending habits better. Applied for that one and got approved for roughly 10k again.

Does it make more sense to keep both or cancel one? I'm not much of a big spender and pay my balance in full more or less every month so it's not pressing to have a high combined limit. Also, I would hardly, if every use the Everyday card compared to the blue cash.

*My other cards or a BoA Cash Rewards and Citi Forward both 3k limits.

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You just got approved for $20K in credit and you're thinking about cancelling one of them?!?!?!!! You had best take the time to read the articles on this site so you can learn about credit because cancelling one of those cards makes about as much sense as shooting yourself in the foot!!!  You don't have to use all that credit, just have it available, and the more credit the better your score.

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AmEx do allow you to combine or reallocate the limits from one card to another, it should lessen the impact a bit. But I believe one of the card need to be 13 months old, since either one has annual fees, holding on to it won't be costly at all. Personally, I wouldn't even consider closing it, even tho it might not be suited for my needs, but I already took hit for inquiry and new account, might as well keep it for while, besides, that extra 10k limit might come in handy down the road,

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Will you spend enough to get the bonus?. 

Reply by
reedz60

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Yea. For both cards I will definately spend enough to get the sign up bonus. Looking at it now I should at least take advantage of that between both cards. 

Amex Everyday         - 10k bonus points if I sepdn $1k in first 3 months

Amex Blue Everyday - $300 back spending $1000 in the first 3 months & 10% back at wireless carriers throughout 2016 up to $200

-Reallocating the limits meaning for eg. 5k from one card to the other ? 15k card and 5k card?

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Reply by
JohnnyRain127

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Yeah pretty much, I think it might need to be in 1k increaments. Can do it online, in account services -> credit management. 

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I would most definitely keep them both, at least for now. You should get a good score boost for such a big increase on available credit.

Reply by
reedz60

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How long generally would you say? 6 months or 1 year? I'll probably only be using the blue cash everyday for most of my everyday purchases. Likely will not be using the amex everyday any at all.

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