Hey everyone, a while back during the all-time-high offer I used the new-account trick to open the MS Platinum, but I forgot to deposit money into the brokerage account I opened at the time. Not only did I miss out on the $300+ bonus, but the account got closed too, so now I'm in a state where I don't have an E*TRADE account. Would this situation affect the MS Platinum card? It won't get shut down, right?
It may not be closed right away, but Amex regularly reviews customer relationships, and over time the risk may increase.
Call E*TRADE customer service first to find out why the account was closed, then contact Amex to confirm the card status—don't wait until a problem arises to deal with it.
The key is whether the E*TRADE account closure gets reported; generally it won't have an impact, but just don't have any more unusual activity.
When you opened your accounts, did you use the same SSN to link both E*TRADE and Amex, or did you use separate ones?
The tricky part is that after E*TRADE closes your account, they don't necessarily notify Amex, but it could still surface the next time you apply or request a credit limit increase—and explaining it then would be a hassle.
I'd suggest first checking your Amex account for any unusual activity. If nothing looks off, just leave it alone for now.
When you say your brokerage account was closed, was it just E*TRADE, or did it also affect your Amex relationship?