Cancelling an American Express card can impact your credit score, primarily through two factors: your credit utilization ratio and the average age of your accounts. When you close a card, your total available credit limit decreases. If you carry balances on other cards, your utilization percentage will go up, which can cause a dip in your score. Furthermore, if the Amex you are closing is one of your oldest accounts, it will eventually stop contributing to the "length of credit history" portion of your score (though closed accounts in good standing stay on your report for 10 years). If your Amex has a high annual fee that you no longer want to pay, a better alternative is often a "downgrade" to a no-fee version of the same card family (like moving from a Gold card to a Blue Cash Everyday). This allows you to keep the account open, preserve your credit limit, and maintain your long-term history without the yearly cost.