- Posts: 1
- Joined: Thu May 31, 2012 7:30 pm
- Location: New Jersey
About a month ago, I received a mail offer from AMEX for a Premier Rewards Gold Card, 50k points after $1k spent in first three months, and the $175 fee waived for the first year. Not being much of a traveler, I sat on the offer for a while. I gave in last night after deciding the card could always be canceled before my first annual fee came due, and I could find a use for 50k points (I do stay in hotels about once per month and read that I could transfer the points to a hotel membership program).
After entering my RSVP code on AMEX's website two nights ago, I was informed that I was also pre-approved for a Platinum and 100k points (I forget the spending threshold for the bonus points). I clicked on the link because few details were available on this page. Arriving to only a blank application with no new information, I weighed my options for a few minutes before closing out the browser. I just couldn't justify the $450
I returned to the site shortly afterwards, re-entered my RSVP, and filled out an application for the PR Gold. I double checked several times before submitting that I was filling out the proper application, as opposed to the Platinum. Among other things, I made sure to notice the $175 fee.
To my chagrin, after approval, I was welcomed as a Platinum card member. I called customer service first thing yesterday morning and spent 45 minutes on the phone with three different individuals. Although I made sure to mention that I absolutely did not fill out a Platinum application, I did not press the issue. Why should I be believed? Rather, I just wanted them to give me the deal that I wanted -- the PR Gold + 50k points.
Ultimately, the best answer I got was to call back later, cancel the Platinum, and reapply for the PR Gold by telephone. I have not called back, having been too busy and left with a bad taste after the 45 minute ordeal on Wednesday. My Platinum card arrived today. I have not activated.
Not knowing where to turn, I joined this forum in hopes of some advice:
1) If I was to cancel the Platinum and apply for the Gold - how would my credit score be affected? Would the sequence leave two inquiries on my report plus a canceled line? Admittedly, I know little about credit scores and can obtain a credit profile if more information is needed for help on this point.
2) Could I just bite the $450 and request a PR Gold card next year? Would this have a different effect on my credit score than taking immediate action? Would this require the cancel-reapply sequence mentioned above or could they just alter my current account to reflect platinum status rather than gold? (my instinct is "no" because apparently this couldn't be done over the phone yesterday, about 9 hours after I was approved)
3) If I do cancel now, irrespective of reapplying for the PR Gold, am I on the hook for the $450? I can't find an answer to this question in the materials they sent me.
4) What would you do? Bear in mind I travel very infrequently. I do, however, stay in hotels about once per month.
For those of you that made it this far, thank you. Any advice would be highly appreciated.