Wednesday, 3 Dec 2008

Should I Cancel My AmEx?

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Creative Commons License photo credit: TheTruthAbout…

Mr. Savvy and I are frequent travelers so I have a Delta SkyMiles branded AmEx.  In line with a number of other credit card providers, AmEx has decided to change the terms of my card.  The annual fee will increase as well as the foreign currency conversion fee.  In addition, there will be no more ‘always double miles’.  Needless to say, I’m not too pleased.  However, I’m weighing the pros and cons of cancelling.  The main benefit of cancelling would be no more annual fee.  However, the main drawback to cancelling would be the loss of the annual companion ticket.

While I definitely like and use the companion tickets, I’m not sure how long that will remain a viable option once the Delta/Northwest merger is complete.  If the change in baggage fees is an indication of things to come, I may have to switch my loyalty to AirTran.  Have any of you seen a change in your credit card terms lately?


No Responses to “Should I Cancel My AmEx?”

  1. frugalgrad.com Says:

    Yes, and not too please about it. My annual fee on one of the cards is also increased and apparently there is nothing I can do about it except paid off the balance and cancel the cards. To be honest, I am really looking forward to cutting that card to pieces and throw them into the trash.

  2. Emily Says:

    Not yet, but I have a feeling that it’s coming soon. The banks aren’t doing so well right now, so it’s not surprising that they’re upping the fees and cutting back on the good stuff, especially when it’s a credit card teamed up with the airlines. I just hope some things stay free — let’s hope we don’t start having to pay to use the toilet on the planes!