Canceling Amex Platinum

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Grupet
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Canceling Amex Platinum

Postby Grupet » Sun Mar 30, 2014 9:16 am

So I'm gonna cancel my Amex Platinum card (september 15, 2014), since I never use any of the benefits and for that reason, I think $450 a year is too much money.

So should I just cancel/close my relation ship with Amex? Will it hurt me in any way? Or should I just downgrade to a card that has no annual fee?

If I cancel/close my relation ship with Amex, what will happen to my over 100.000 reward points? Do they just disappear, or will they remain for me to still use, even if I don't have any relation ship with Amex?

Thanks guys
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MemberSince99
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Postby MemberSince99 » Sun Mar 30, 2014 9:43 am

You can't downgrade Platinum to a card with no fee at all because all of the charge cards have some fee - all you can do is downgrade to a LOWER fee. You can't change it to a revolver that has no fee.


Yes if you close the card the points will disappear and you will lose them, so you had best use or transfer them to an airline program before you close if that's what you are going to do.

travisrauh
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Postby travisrauh » Sun Mar 30, 2014 9:57 am

Sorry to hear that you want to cancel your Platinum Card, Grupet. If you don't use the benefits to justify the $450, I'd agree that it may not be the best card for you. As MemberSince99 stated, you would forfeit your Membership Rewards points upon closing your account if you don't have any other cards that participate in the Membership Rewards programme (such as Blue or EveryDay, which cannot be product changed from a charge card). If you do not want to forfeit your points, and you aren't interested in applying for one of those cards, then I would recommend downgrading to the Green Card to preserve your MR points. Hope this helps!
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thom02099
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Postby thom02099 » Sun Mar 30, 2014 5:37 pm

travisrauh wrote:Sorry to hear that you want to cancel your Platinum Card, Grupet. If you don't use the benefits to justify the $450, I'd agree that it may not be the best card for you. As MemberSince99 stated, you would forfeit your Membership Rewards points upon closing your account if you don't have any other cards that participate in the Membership Rewards programme (such as Blue or EveryDay, which cannot be product changed from a charge card). If you do not want to forfeit your points, and you aren't interested in applying for one of those cards, then I would recommend downgrading to the Green Card to preserve your MR points. Hope this helps!


Travis -- would the OP be able to downgrade to the Senior Gold card, with the MR option for $95 and still keep the points accumulated?
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travisrauh
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Postby travisrauh » Mon Mar 31, 2014 12:54 am

Assuming that he's 55+ years old, then yes - he would be able to switch to Senior+MR. He just needs a Membership Rewards account (at any level - Express, Classic or First) in order to keep those points available.
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FastSRT8
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Postby FastSRT8 » Mon Mar 31, 2014 1:03 am

Sorry to see you leave
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haikuginger
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Postby haikuginger » Mon Mar 31, 2014 6:31 am

travisrauh wrote:Assuming that he's 55+ years old, then yes - he would be able to switch to Senior+MR. He just needs a Membership Rewards account (at any level - Express, Classic or First) in order to keep those points available.


To clarify that, would his current MR First points convert to whatever point type the account type he converts to uses?

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djrez4
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Postby djrez4 » Mon Mar 31, 2014 10:30 am

Funny - I'm cancelling my MB Plat to get a regular one. Still worth it for me.

@haikuginger - the points change based on the card you have. Think of it this way - all MR points are equal until redemption time. Your membership level determines redemption, not the type of point you earn.
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Grupet
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Postby Grupet » Mon Mar 31, 2014 2:29 pm

travisrauh wrote:Sorry to hear that you want to cancel your Platinum Card, Grupet. If you don't use the benefits to justify the $450, I'd agree that it may not be the best card for you. As MemberSince99 stated, you would forfeit your Membership Rewards points upon closing your account if you don't have any other cards that participate in the Membership Rewards programme (such as Blue or EveryDay, which cannot be product changed from a charge card). If you do not want to forfeit your points, and you aren't interested in applying for one of those cards, then I would recommend downgrading to the Green Card to preserve your MR points. Hope this helps!


Thanks for all your replies.

So if I don't want to close my account, but just want something other than the Amex Platinum, like the EveryDay card, does that mean I will have to apply for that first, and if I get accepted I can then cancel my Platinum card?
Or what is the best way to do it?

I don't want to lose my points, so I would still like to have a relationship with Amex.

Thanks
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travisrauh
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Postby travisrauh » Mon Mar 31, 2014 8:18 pm

Grupet - if you're not considering product changing into another charge card, then I would suggest you apply for an EveryDay card prior to closing your account in order to avoid losing those points.
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