wiivile wrote:Why would a card with no rewards or benefits have an annual fee? What would be the reason to get a card like that?
It has an annual fee because it is a charge card, and American Express can't earn any interest revenue off of it. As for the reason to get it - I don't know. I wouldn't ever get it, but I suppose some people that used to have MR-earning cards deem it worthwhile to downgrade and keep the same account. There exist people that have charge cards but never use or pay attention to the benefits just because it is "the best lender to have."
According to Amex you can participate in the MR program for an additional $40 annual fee. That puts it at $95, which is what the regular Green Card is, so I don't know if it would still be considered a "senior" green card at that point.
wiivile wrote:So basically, if I wanted to earn and spend my 100,000 Platinum bonus, I would have to cancel the card (rather than downgrading) after a year in order to avoid an annual fee?
You could apply for the EveryDay card, which earns MR and has no annual fee. Cardmembers are allowed to have multiple cards earning points in one MR "account." You wouldn't be able to product change your Platinum, though, because that would be going from charge card to traditional credit card. You would have to apply for a new account to get the EveryDay and cancel the Platinum to get out of the annual fee. That approach would at least keep you active in the MR program (and keep you earning points, too). I can't speak to how they handle people closing accounts before using MR, though. They may force you to take a credit at whatever redemption rate they offer, so it may be best to get your use out of the points before closing the account.