How fast can you cancel Amex Plat after upgrade offer from Gold?

[Voyager97]

I accepted an upgrade offer of 70k MR from Gold -> Platinum, about halfway through my second year of having the Gold card. My annual fee is going to post in a few weeks, after 7 months of owning the Platinum.

If I cancel right after the annual fee posts, is that considered ok (like the usual 13 month clock)? Or would that be considered an early cancellation (like a 7 month cancellation) that would have clawbacks / blacklisting?

Any Amex experts know how this should be handled?

(Other detail, I just got approved for the Schwab Platinum since I figured I'd get that bonus in before potentially getting on Amex's bad side.)

[1LostArk]

If you get on Amex's bad side, they can claw back your Schwab bonus too, or even close all your accounts. I would never cancel or downgrade any Amex card for at least 13 statements since the last product change. Your best bet is to ask for a retention offer when the AF posts, and then cancel or downgrade 13 months after that. If you don't get a retention offer, just suck it up and pay the AF — imo not worth risking your relationship with Amex over $695.

[jojo79]

I just downgraded from Gold to Green but had to wait at least 12 months since my last retention offer or risk clawback; which the agent via chat explained. My annual fee usually hits in Dec but I accepted a retention offer on 1/7/22. I had to wait till after 1/8/23 to downgrade with no adverse actions.

[SouthJamaica]

---

@Voyager97 wrote:

I accepted an upgrade offer of 70k MR from Gold -> Platinum, about halfway through my second year of having the Gold card. My annual fee is going to post in a few weeks, after 7 months of owning the Platinum.

If I cancel right after the annual fee posts, is that considered ok (like the usual 13 month clock)? Or would that be considered an early cancellation (like a 7 month cancellation) that would have clawbacks / blacklisting?

Any Amex experts know how this should be handled?

(Other detail, I just got approved for the Schwab Platinum since I figured I'd get that bonus in before potentially getting on Amex's bad side.)

---

You should wait until 13 months have passed since the upgrade.

[wasCB14]

I've cut it as close as 12 months and a few days with no clawbacks (yet) but going for a 13th or 14th month isn't a bad idea, especially when you can pick up the 2nd half Saks credit.

[BronzeTrader]

When you accepted the upgrade offer, you also accepted the AmEx new T&C.  It normally says you have to keep it open for 12 months.  There are also some other terms.  

Those are the terms that you need to follow.  Sure some play game and get away from that.  Some can't.

[K-in-Boston]

---

@BronzeTrader wrote:

When you accepted the upgrade offer, you also accepted the AmEx new T&C.  It normally says you have to keep it open for 12 months.  There are also some other terms.  

Those are the terms that you need to follow.  Sure some play game and get away from that.  Some can't.

---

Correct.  A few years ago, verbiage that Welcome Offers, upgrade offers, and retention bonuses would be forfeited if a card were closed or downgraded within one year was added to the terms.  Thankfully the one time I could have fallen into this trap, the chat agent let me know.  I was trying to close a Delta Platinum card after the AF posted and had received a retention offer 364 days earlier.  They thankfully advised me to contact them again in 2 days!  (That is the only Amex card I have ever actually closed or downgraded.)

[CreditCuriosity]

---

@K-in-Boston wrote:

---

@BronzeTrader wrote:

When you accepted the upgrade offer, you also accepted the AmEx new T&C.  It normally says you have to keep it open for 12 months.  There are also some other terms.  

Those are the terms that you need to follow.  Sure some play game and get away from that.  Some can't.

---

Correct.  A few years ago, verbiage that Welcome Offers, upgrade offers, and retention bonuses would be forfeited if a card were closed or downgraded within one year was added to the terms.  Thankfully the one time I could have fallen into this trap, the chat agent let me know.  I was trying to close a Delta Platinum card after the AF posted and had received a retention offer 364 days earlier.  They thankfully advised me to contact them again in 2 days!  (That is the only Amex card I have ever actually closed or downgraded.)

---

AMEX RAT is rough these days or can be shall I say.

[BronzeTrader]

---

@CreditCuriosity wrote:

---

@K-in-Boston wrote:

---

@BronzeTrader wrote:

When you accepted the upgrade offer, you also accepted the AmEx new T&C.  It normally says you have to keep it open for 12 months.  There are also some other terms.  

Those are the terms that you need to follow.  Sure some play game and get away from that.  Some can't.

---

Correct.  A few years ago, verbiage that Welcome Offers, upgrade offers, and retention bonuses would be forfeited if a card were closed or downgraded within one year was added to the terms.  Thankfully the one time I could have fallen into this trap, the chat agent let me know.  I was trying to close a Delta Platinum card after the AF posted and had received a retention offer 364 days earlier.  They thankfully advised me to contact them again in 2 days!  (That is the only Amex card I have ever actually closed or downgraded.)

---

AMEX RAT is rough these days or can be shall I say.

---

If people do not game, AmEx is one of the best.

If anyone has legit reason to be unhappy about AmEx, it will offer some retention to keep you happy.