topic Re: Questions about closing AMEX Gold in Credit Cards

Questions about closing AMEX Gold

KLEXH25 — Sun, 10 Jul 2022 15:43:54 GMT

I plan to close my AMEX Gold card soon, but I have a few questions before I do.

What is the best way to redeem my MR points, while maximizing my return? I have about 53,000 points but I have no plans to travel in the near future. Right now it seems the best I can get is 1cpp for either gift cards or transfer partners, but since I mostly fly United (Star Alliance) I think I'm leaning towards gift cards.
I've had the card since late August 2019, so I'm approaching 3 years now. Do I have to wait until the next annual fee hits, or have I had the card long enough that it doesn't matter?
How do I close the card? Do I have to call or is there a way to do it online?

Re: Questions about closing AMEX Gold

SouthJamaica — Sun, 10 Jul 2022 15:58:04 GMT

@KLEXH25 wrote:
I plan to close my AMEX Gold card soon, but I have a few questions before I do.
What is the best way to redeem my MR points, while maximizing my return? I have about 53,000 points but I have no plans to travel in the near future. Right now it seems the best I can get is 1cpp for either gift cards or transfer partners, but since I mostly fly United (Star Alliance) I think I'm leaning towards gift cards.
I've had the card since late August 2019, so I'm approaching 3 years now. Do I have to wait until the next annual fee hits, or have I had the card long enough that it doesn't matter?
How do I close the card? Do I have to call or is there a way to do it online?

1. I am by no means an Amex MR expert. Like you, they have always been worth a maximum of about 1cpp to me.

2. You've had the card long enough so that it doesn't matter.

3. You should close it by phone. Sometimes they come up with highly attractive retention offers.

Re: Questions about closing AMEX Gold

KLEXH25 — Sun, 10 Jul 2022 16:31:15 GMT

@SouthJamaica wrote:
@KLEXH25 wrote:
I plan to close my AMEX Gold card soon, but I have a few questions before I do.
What is the best way to redeem my MR points, while maximizing my return? I have about 53,000 points but I have no plans to travel in the near future. Right now it seems the best I can get is 1cpp for either gift cards or transfer partners, but since I mostly fly United (Star Alliance) I think I'm leaning towards gift cards.
I've had the card since late August 2019, so I'm approaching 3 years now. Do I have to wait until the next annual fee hits, or have I had the card long enough that it doesn't matter?
How do I close the card? Do I have to call or is there a way to do it online?
1. I am by no means an Amex MR expert. Like you, they have always been worth a maximum of about 1cpp to me.
2. You've had the card long enough so that it doesn't matter.
3. You should close it by phone. Sometimes they come up with highly attractive retention offers.

Thanks for your input. I have given some thought to the possibility of a retention offer, but I honestly don't think I would take one. It usually involves significant spend that I'd rather put on another card, and the reward is still MR points that I can't do much with.

Re: Questions about closing AMEX Gold

SouthJamaica — Sun, 10 Jul 2022 16:38:50 GMT

@KLEXH25 wrote:
@SouthJamaica wrote:
@KLEXH25 wrote:
I plan to close my AMEX Gold card soon, but I have a few questions before I do.
What is the best way to redeem my MR points, while maximizing my return? I have about 53,000 points but I have no plans to travel in the near future. Right now it seems the best I can get is 1cpp for either gift cards or transfer partners, but since I mostly fly United (Star Alliance) I think I'm leaning towards gift cards.
I've had the card since late August 2019, so I'm approaching 3 years now. Do I have to wait until the next annual fee hits, or have I had the card long enough that it doesn't matter?
How do I close the card? Do I have to call or is there a way to do it online?
1. I am by no means an Amex MR expert. Like you, they have always been worth a maximum of about 1cpp to me.
2. You've had the card long enough so that it doesn't matter.
3. You should close it by phone. Sometimes they come up with highly attractive retention offers.
Thanks for your input. I have given some thought to the possibility of a retention offer, but I honestly don't think I would take one. It usually involves significant spend that I'd rather put on another card, and the reward is still MR points that I can't do much with.

You're probably right.

But with one of my Hilton cards they gave me a retention offer that involved $300 in cash, as I recall.

Re: Questions about closing AMEX Gold

GatorGuy — Sun, 10 Jul 2022 20:11:01 GMT

Gift card will probably be your best use unless you want to proactively transfer them for a possible future trip.

You can close your card through the chat.

Retention offers sometimes are for the full AF and not just MR points. Also there is not always spend requirements.

Re: Questions about closing AMEX Gold

KLEXH25 — Mon, 11 Jul 2022 03:00:00 GMT

@GatorGuy wrote:
Gift card will probably be your best use unless you want to proactively transfer them for a possible future trip.

You can close your card through the chat.

Retention offers sometimes are for the full AF and not just MR points. Also there is not always spend requirements.

That is good to know! I didn't realize they have different offers like that. I just don't want to request a closure before I know what I'm doing with my points (even if I do end up taking a retention offer).