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Amex downgrade?

pakimchi
New Member

Amex downgrade?

How soon can you downgrade your amex charge card or credit cards?

Platinum to gold
Or preferred cash to everyday cash

Is it possible to downgrade within a month?
Does the length of the time matter when it comes to downgrade?

Downgrading before using the sign up bonus on a higher tier card to lower tier make it keep the lower tier sign up bonus when you down grade?
Message 1 of 10
9 REPLIES 9
c00mtg
Valued Contributor

Re: Amex downgrade?


@pakimchi wrote:

Is it possible to downgrade within a month? Yes
Does the length of the time matter when it comes to downgrade? No, only if you want to upgrade, which is a year wait.



 




FICO 8 Scores EQ 704 / Goal 750, EX 706 / Goal 750, TU 724 / Goal 750

FICO 9 Scores EQ 726 / Goal 750, EX 683 / Goal 750, TU 726 / Goal 750
Message 2 of 10
HeavenOhio
Community Leader
Senior Contributor

Re: Amex downgrade?

I recall a lot of posts here saying that you should wait until month 13 to downgrade. You'll be charged the annual fee, but AMEX will refund it.

Message 3 of 10
MrDisco99
Valued Contributor

Re: Amex downgrade?

Amex really doesn’t like it when you downgrade or cancel their cards in the first year. Best to wait until the card is a year old. The benefits are yours for the rest of the year and won’t cost anything until the AF hits so might as well enjoy them until then.
Message 4 of 10
12velectronics
Valued Contributor

Re: Amex downgrade?

I don't think there is a time limit however be aware that might raise red flags at Amex and they can do things like close your account/rescind their sign up bonus offers.
Message 5 of 10
c00mtg
Valued Contributor

Re: Amex downgrade?


@MrDisco99 wrote:
Amex really doesn’t like it when you downgrade or cancel their cards in the first year. Best to wait until the card is a year old. The benefits are yours for the rest of the year and won’t cost anything until the AF hits so might as well enjoy them until then.

OP mentioned the Platinum, which it's not free for the first year...unless he got the Ameriprise Platinum.





FICO 8 Scores EQ 704 / Goal 750, EX 706 / Goal 750, TU 724 / Goal 750

FICO 9 Scores EQ 726 / Goal 750, EX 683 / Goal 750, TU 726 / Goal 750
Message 6 of 10
NRB525
Super Contributor

Re: Amex downgrade?

You paid the entire AF. Once you pass 30 days, that AF is not refundable.
You would lose the benefits for the remainder of the year.

PSA: When accepting an UPGRADE offer from AMEX, they will credit the remaining AF on the card being upgraded, and prorate the new higher AF, even if several months into the new card year, which is very different from downgrade / closure AF handling.
High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
Message 7 of 10
jdbkiang
Established Contributor

Re: Amex downgrade?

Blue Cash Preferred cannot be product changed or downgraded to an Everyday Card.





[2/2019]
Message 8 of 10
Gardener76
Valued Contributor

Re: Amex downgrade?

How about downgrading from Gold to the new Green? Would you get a SUB if it were offered? 





Okay, I tried... Code wouldn't cooperate. Tried for 3 hours!!!
CapOne WMTMC 10K
AMEX GREEN NPSL
AMEX ED 26.1K
Message 9 of 10
K-in-Boston
Moderator

Re: Amex downgrade?


@Gardener76 wrote:

How about downgrading from Gold to the new Green? Would you get a SUB if it were offered? 


Welcome Offers are only offered for new applications or upgrades (never downgrades).  Downgrading to Green would make you ineligible for a Welcome Offer on any future application for a Green

Message 10 of 10
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