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How will credit rating agencies react to cancellation of joint Costco/American Express credit cards used by many Costco members? Will credit score be affected?

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I received an email from AmEx about this issue.   Basically, they will be transitioning everyone over to a new AmEx card.  They want to keep your business obviously.   A new card shouldn't effect your Average Age of Accounts either.  All should remain the same, with the exception of possibly signing up for the new Costco branded Visa...

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I did not get any email from amex. I have costco true earnings for 5 years now. When I called amex, they have told me following

1) we are not transitioning your card to a new card.

2) I have to apply for new card so it will be a new account and new card. Likely credit limit remain same.

That brings down the average age of my credit lines... :(


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Amex really doesn't want me

Costco AMEX card to be cancelled.  Instead of just issuing a new card, AMEX invited me to "apply" for a new car.  This is just plain nuts when I have a 15 year perfect history with them, a $29000 credit limit, and A+++ credit rating.  Not going to do it

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AE True Earnings Card Clarification

I received a letter today (3/31/16) from AE stating that "As we announced last year, American Express' co-brand card relationship with Costco is ending. As a result, your American Express Card Membership will terminate and your True Earnings Business Card with be replaced with a credit card from Citibank, N.A. ("Citibank"). We expect that this will take place in June 2016 ("Replacement Date"). Citibank will communicate the exact Replacement Date in a subsequent notice. The Citibank Costco credit card will not be an American Express Card. Up to the Replacement Date, continue to use your True Earnings Business Card for purchases at Costco and other American Express accepting merchants."

"In the next few weeks, you will receive additional communications from Citibank, the issuer of the replacement card, which will provide details about the new Citibank credit card below...."

My question: How does this affect our credit? The credit agencies will show a cancellation of AE and a new credit card with Citibank. Also, I have another AE card I've had for over 20 years. That fee just went up to $175.00/annually, but I didn't want to cancel the card as it definitely affects your credit. Just wondering how I can get around this???

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