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Cancel AMEX PRG?

Senior Contributor

Re: Cancel AMEX PRG?


ceemee2203 wrote:

I'd try getting the annual fee removed before cancelling the card, if you've been a good customer, they might work with you. 


I believe Amex typically refunds a prorated portion of the AF.  If you're talking about getting them to waive for the following year for continued membership, they might offer some sort of retention bonus.  YMMV.  I was going to cancel my Platinum card when my travel slowed down at work and they gave me 25K MR points to keep it open.


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


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Established Contributor

Re: Cancel AMEX PRG?

I was going to cancel my card and they gave me double mr points on all of my purchases for 3 months.  I'm going to cancel and see if they do something.

Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward,
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape
New Member

Re: Cancel AMEX PRG?

Hello, Ive been lurking around on these boards for sometime now. Finally decided to joint the club - Smiley Happy

 

In regards to the cancellation of a AMEX gold.  I was very apprehensive upon my Amex Gold approval. Reasons being. It was a charge card, the cost of the annual fee after the introductory peroid, and the fact that I've watched these boards for months now and heard alot of horror stories haaha..

 

None the less. I thought, the first year there would be no AF. I wanted to get in with AMEX also. But didnt travel as much for work. So the AMEX PRG wasnt needed.

 

However- it has been nothing but good to me, I use as I would a debit card. I keep mine for this reason alone. When I shop or use my debit card or cash, I dont earn points for potential cash back or rewards. Thus why, I will always keep at least one amex charge card in my line up.

 

I hope to continue to learn from all of you on these boards.

AMEX GOLD-NPSL, BARCLAYCARD REWARDS PLATINUM-$700, DISCOVER CASHBACK BONUS- $1000, CAPITAL ONE PLATINUM-$500, VISA REWARDS CREDIT UNION- $2,500, KHOLS CAPITAL ONE-$1,500
Super Contributor

Re: Cancel AMEX PRG?

The only times the charge cards are a good investment (other than the first year (waived AF and sign up bonuses) is if you travel a lot, and spend a lot and dont want to raise your util. Other than that the amex revolvers are really the best choice.


New Member

Re: Cancel AMEX PRG?

Jsucool76- this is true, excellent advice.

 

I have used my AMEX as a budgeting tool since I got it. So I do spend quiet a bit each month. I set up almost all my bills on the AMEX to be charged each month and then I PIF. I run well over $1,500 on it each month and have started to rack up some nice points already. I dont travel alot, but when I do the points Ive gained each month will come in handy. It also comes in handy for other things. By the time the AF comes around, I'll have enough points to justify having it in my wallet. 

 

Its also great for extra insurance on larger purchases. Whenever a retailer online or off seems shady, I pay wth my AMEX because there customer service is awesome. Peace of mine for me.. that is worth the $125 for me.. but to each there own.

 

Its all about makeing the cards work for you.

 

AMEX GOLD-NPSL, BARCLAYCARD REWARDS PLATINUM-$700, DISCOVER CASHBACK BONUS- $1000, CAPITAL ONE PLATINUM-$500, VISA REWARDS CREDIT UNION- $2,500, KHOLS CAPITAL ONE-$1,500
New Contributor

Re: Cancel AMEX PRG?

I keep wondering if I should do the same, now that I have a huge (for my needs anyway) CL on my BCP. I do travel a fair amount (usually once a month if not more often), but I bet I don't collect enough 3x MR points to offset the AF. Currently I do run everything that's not gas/amazon/groceries/restaurants through my PRG, but I wonder if I should use my BCP instead.

 

So far I haven't spent a single MR point yet... havent really found anything I want yet lol. That said I do like the design lol, but I'm not sure it's worth $175 just to look at a pretty card.

PNC Points Visa $3.3k (5/09), Amex PRG NPSP (9/10), Amex BCP $19.7k (10/12), Chase Amazon $4.8k (10/12), Citi Forward $7.5k (11/12), Chase Southwest RR Premier $8k (3/13), Discover it $4.3k (11/13), Citi Double Cash $18k (PC'd 9/16 from AA Executive 7/15), Chase CSR $12.2k (9/16)
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Established Contributor

Re: Cancel AMEX PRG?


nagisa wrote:

I keep wondering if I should do the same, now that I have a huge (for my needs anyway) CL on my BCP. I do travel a fair amount (usually once a month if not more often), but I bet I don't collect enough 3x MR points to offset the AF. Currently I do run everything that's not gas/amazon/groceries/restaurants through my PRG, but I wonder if I should use my BCP instead.

 

So far I haven't spent a single MR point yet... havent really found anything I want yet lol. That said I do like the design lol, but I'm not sure it's worth $175 just to look at a pretty card.


I have too many cards that get better cash back.  I only use the MR points towards entertainment tix.  I have gotten early access to events, which is nice.  I could probably justify keeping this card if they still had a rewards mall.  I cannot fathom how they closed it without a communication.

 

Regarding the mall, it seems that Amex should have a mall with higher end stores such as Louis Vuitton and Burberry.

Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward,
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape