topic Re: $695 AF post pandemic question: Downgrading or wait for retention offer for Amex Platinum person in Credit Cards

$695 AF post pandemic question: Downgrading or wait for retention offer for Amex Platinum personal ?

4sallypat — Fri, 12 Nov 2021 15:15:00 GMT

My personal Plat AF is up for renewal next week - raising from $550 to $695.

Been with Amex since 1993 (Green card, Gold Card, Platinum)....

Question:

Is it worth asking for a retention offer or just downgrading to the Gold card ?

AF renewal is next week and looking at the new $695 AF is a bit daunting considering I just bought my first house (escrow closing in 2 weeks) with a monthly mortgage to worry about. Then I am not seeing much personal travel for the near future.

Recently with a long overdue trip taken to Hawaii, we were able to use the benefits to pay for the AF (FHR credits, travel airline credits, Uber, Dell, etc)...

Next year we are not looking at traveling much for personal (business only) as the house will keep us busy.

I do like my MR points and would like to assume if I downgrade to the Gold, I keep them ?

Based on this forum, it's better to wait until the AF is charged and I have up to 30 days to cancel afterwards ?

The Gold card has better "non travel" benefits that I would use for MR (groceries & restaurants).

$295 AF is much easier to cover with the MR points earned and some benefits.

BTW: Having received an special offer for the Business Plat card with 150K MR SUB is tempting, but the spend on it is tough ($15K in 3 months).

What are your suggestions with the personal Plat renewal?

Re: $695 AF post pandemic question: Downgrading or wait for retention offer for Amex Platinum person

SouthJamaica — Fri, 12 Nov 2021 15:16:05 GMT

@4sallypat wrote:
My personal Plat AF is up for renewal next week - raising from $550 to $695.
Been with Amex since 1993 (Green card, Gold Card, Platinum)....

Question:
Is it worth asking for a retention offer or just downgrading to the Gold card ?

AF renewal is next week and looking at the new $695 AF is a bit daunting considering I just bought my first house (escrow closing in 2 weeks) with a monthly mortgage to worry about. Then I am not seeing much personal travel for the near future.

Recently with a long overdue trip taken to Hawaii, we were able to use the benefits to pay for the AF (FHR credits, travel airline credits, Uber, Dell, etc)...

Next year we are not looking at traveling much for personal (business only) as the house will keep us busy.

I do like my MR points and would like to assume if I downgrade to the Gold, I keep them ?
Based on this forum, it's better to wait until the AF is charged and I have up to 30 days to cancel afterwards ?

The Gold card has better "non travel" benefits that I would use for MR (groceries & restaurants).
$295 AF is much easier to cover with the MR points earned and some benefits.

BTW: Having received an special offer for the Business Plat card with 150K MR SUB is tempting, but the spend on it is tough ($15K in 3 months).

What are your suggestions with the personal Plat renewal?

If you've had the card for years, there's no need to wait until the annual fee hits to ask for a retention offer.

If you've only had it for one year, then wait until after 13 months have passed.

My experience with Amex charge cards is that I was always thinking of how I could offset the annual fee with perks. I came to the conclusion that it's too much of an uphill struggle for those of who don't travel a lot.

My understanding is that if you downgrade you do not lose your MR points; you would only lose them if you didn't have another MR account.

I would also point out that, although the Gold card does offer better non-travel points earning options, it does not meaningfully offer non-travel rewards.

Re: $695 AF post pandemic question: Downgrading or wait for retention offer for Amex Platinum person

NRB525 — Fri, 12 Nov 2021 15:07:40 GMT

Yes, downgrading to Gold will keep the account history on your CR, as well as maintaining your MR points. Approaching the call within 30 days after the AF posts is the best time.

Re: $695 AF post pandemic question: Downgrading or wait for retention offer for Amex Platinum person

simplynoir — Fri, 12 Nov 2021 15:21:28 GMT

Asking for a retention offer means keeping the card if accepted and from reading your post it sounds like you would rather have the Gold card moving forward. Have a look at the datapoints for Platinum retention offers and see if it's something you wouldn't mind keeping around. If it then chat/call and see what customer service has for you and keep your points and credit history on the card. If I were you I would just go ahead and ask for the downgrade to the Gold card. Even though you mentioned the Gold card in your post just want to inform you you give up the chance of getting the SUB on the Gold card with the downgrade so something to keep in mind as well

Good luck on what you decide to do

Re: $695 AF post pandemic question: Downgrading or wait for retention offer for Amex Platinum person

Anonymous — Fri, 12 Nov 2021 15:33:54 GMT

And if keeping MR alive is all that matters, you can get the no AF Everyday card. But that would involve opening a new account and closing the Platinum.

Re: $695 AF post pandemic question: Downgrading or wait for retention offer for Amex Platinum person

4sallypat — Fri, 12 Nov 2021 15:45:03 GMT

@simplynoir wrote:
Asking for a retention offer means keeping the card if accepted and from reading your post it sounds like you would rather have the Gold card moving forward. Have a look at the datapoints for Platinum retention offers and see if it's something you wouldn't mind keeping around. If it then chat/call and see what customer service has for you and keep your points and credit history on the card. If I were you I would just go ahead and ask for the downgrade to the Gold card. Even though you mentioned the Gold card in your post just want to inform you you give up the chance of getting the SUB on the Gold card with the downgrade so something to keep in mind as well

Good luck on what you decide to do

Yes, that is a conundrum I am facing - I'd rather keep the Platinum as my personal travel may change next year if a retention offer is made - I searched past posts and see anywhere from 20K to 50K MR points or cash for retention....

If I can't get a decent retention offer, then I will step down to the Gold as the 4X points on dining & groceries will be fine.

Thanks for the tip on not getting a SUB for the Gold.....

Re: $695 AF post pandemic question: Downgrading or wait for retention offer for Amex Platinum person

MrDisco99 — Fri, 12 Nov 2021 17:47:52 GMT

If you've never had the Gold card, I would apply for a new one and cancel the Plat rather than downgrade.

Re: $695 AF post pandemic question: Downgrading or wait for retention offer for Amex Platinum person

Anonymous — Fri, 12 Nov 2021 19:52:04 GMT

@MrDisco99 wrote:
If you've never had the Gold card, I would apply for a new one and cancel the Plat rather than downgrade.

OP said: "Been with Amex since 1993 (Green card, Gold Card, Platinum)...."

but getting the SUB would depend on how long ago (I think lifetime is about 7 years) and possibly which gold card it was (the old plain gold, the old PRG etc)

Re: $695 AF post pandemic question: Downgrading or wait for retention offer for Amex Platinum person

805orbust — Fri, 12 Nov 2021 21:26:01 GMT

In a post Covid world, that Platinum became a head-scratcher quickly. The gold makes so much more sense now... for us at least

Re: $695 AF post pandemic question: Downgrading or wait for retention offer for Amex Platinum person

4sallypat — Fri, 12 Nov 2021 21:45:21 GMT

@805orbust wrote:
In a post Covid world, that Platinum became a head-scratcher quickly. The gold makes so much more sense now... for us at least

YES

Isn't that the truth!

Before the pandemic, I used my Platinum benefits, travelled and got more value out of it than now....

Will update after I speak to their retention specialist...

Re: $695 AF post pandemic question: Downgrading or wait for retention offer for Amex Platinum person

805orbust — Sat, 13 Nov 2021 14:40:57 GMT

Please do. I'd be interested to see the results. Too bad I cant earn 5x points for sitting on the couch for 18 months waiting for "15 days to slow the spread" to work. 🤣

Re: $695 AF post pandemic question: Downgrading or wait for retention offer for Amex Platinum person

EAJuggalo — Fri, 12 Nov 2021 23:03:53 GMT

@SouthJamaica wrote:
I would also point out that, although the Gold card does offer better non-travel points earning options, it does not meaningfully offer non-travel rewards.

It does not offer much in the way of travel perks but this year AMEX paid me to have the Gold Card, next year it will cost me $10. I find the $10 monthly Grubhub and Uber credits incredibly easy to use, this year I also had the airline fee credit to use. Even with the $250AF I got $340 in credits. Next year without the airline credit it will cost, but not much to get 4x MR on restaurants and grocery stores. Good enough for me.

Re: $695 AF post pandemic question: Downgrading or wait for retention offer for Amex Platinum person

NYJfan — Fri, 12 Nov 2021 23:58:25 GMT

Always ask for a retention offer. If you don't get anything worthwhile ask again in a week or so. On my Morgan Stanley Platinum I went from no retention offer, a week later I received a $150 credit retention offer, a week after that I received a 60,000 MR after $4k spend in 3 months which I accepted.

Re: $695 AF post pandemic question: Downgrading or wait for retention offer for Amex Platinum person

red259 — Sat, 13 Nov 2021 03:04:08 GMT

Personally when the AF hits on my plat this summer I think it will get cancelled or downgraded. I will crunch the numbers again but I think the plat requires too much work at that price point to offset the AF. The $550 I was able to make work but the higher amount is just a bridge too far. I like the lounge access etc but I can get PP access via other cards for much less and I rarely fly delta. The only thing I would miss out on is the centurion lounges. The CSR or cap 1 venture X seems like a better choice. I have the gold card now. I can use the uber and dining credits easily. The uber credits are especially useful when paired with the plat uber credits. I will either cancel the gold card now and just downgrade my plat this summer to gold or if they give me a retention offer now on the gold maybe I will just hold on to it and just cancel the plat when the AF hits.While the CSP can give me a decent dining bonus the gold card will be useful for grocery spend in addition to dining.

Re: $695 AF post pandemic question: Downgrading or wait for retention offer for Amex Platinum person

Anonymous — Sat, 13 Nov 2021 13:45:50 GMT

https://thepointsguy.com/news/amex-platinum-2021-refresh/amp/

"For current Platinum cardholders, the new fee takes effect with renewal dates on or after Jan. 1, 2022."

Re: $695 AF post pandemic question: Downgrading or wait for retention offer for Amex Platinum person

4sallypat — Sat, 13 Nov 2021 14:52:05 GMT

@Anonymous wrote:
https://thepointsguy.com/news/amex-platinum-2021-refresh/amp/

"For current Platinum cardholders, the new fee takes effect with renewal dates on or after Jan. 1, 2022."

So those of us who are renewing before Jan 1 are still grandfathered in ????

Let me call !

Re: $695 AF post pandemic question: Downgrading or wait for retention offer for Amex Platinum person

4sallypat — Sat, 13 Nov 2021 14:53:39 GMT

@NYJfan wrote:
Always ask for a retention offer. If you don't get anything worthwhile ask again in a week or so. On my Morgan Stanley Platinum I went from no retention offer, a week later I received a $150 credit retention offer, a week after that I received a 60,000 MR after $4k spend in 3 months which I accepted.

@NYJfan Did you have to call 3 times to get the cash and MR points ??

Was it because the CSR had different offers for you each time you called ?

I wouldn't mind calling 3 times to get what you got!

Re: $695 AF post pandemic question: Downgrading or wait for retention offer for Amex Platinum person

NYJfan — Sat, 13 Nov 2021 15:09:28 GMT

I never called I only chatted. I didn't get both cash and points just the points. It essentially went like this:

AF fee posts

Chatted day annual fee posts: "no offers, but they change daily so try asking again"

Chatted week after annual fee posts: "we can offer you a $150 statement credit" - "I'll think about it"

Chatted 2 weeks after annual fee posts: "we can offer you 60k MR after $4k spend in 3 months" - "I'll accept"

I also have them check all my cards every time and take if there's anything good. For example, I accepted 20k for $2k spend on my Gold card about 1 month before the AF was set to post.

Re: $695 AF post pandemic question: Downgrading or wait for retention offer for Amex Platinum person

jasonbourne84 — Sat, 13 Nov 2021 15:59:08 GMT

@4sallypat wrote:
@Anonymous wrote:
https://thepointsguy.com/news/amex-platinum-2021-refresh/amp/

"For current Platinum cardholders, the new fee takes effect with renewal dates on or after Jan. 1, 2022."

So those of us who are renewing before Jan 1 are still grandfathered in ????

Confirming. My AFs (both mine and DH's auth user card) just hit and are the normal amounts.

Re: $695 AF post pandemic question: Downgrading or wait for retention offer for Amex Platinum person

GrandBaker — Sat, 13 Nov 2021 16:22:50 GMT

OP - if your renewal is coming up in Nov/Dec then the AF stays at $550. It's $695 for new accounts and for renewals starting in Jan 22.

I am due for first renewal this month as well. I've made over 3k+ from this card so I have no intention of canceling it. Plus with traveling starting up soon this is going to come in handy. I've decided to pay the $550 fee. Now the question is if I should ask for a retention offer this year OR wait until next year when the fee is higher. I believe it's recommended I don't call up EVERY year to ask.