American Express Membership Rewards - Downgrade Platinum to Gold - Best Options?

Thinking of downgrading my Platinum card (not traveling as much) and was curious on what FT folks think the best course of action is.

I'm most leaning towards a PR Gold card. I've seen various signups/ads for the 25k no fee but I assume I'm ineligible since I already have a MR card... Perhaps not?

I'm able to apply for a PR Gold card (logged-in) and have my first year's fee waived - would I still be eligible for a waived fee by canceling my Plat? Or should I simply apply for the Gold and cancel my Plat?

Welcome to Flyertalk.

Do you have any points in your Membership Rewards account?

Thanks Mia! Long-timer lurker here...

I currently have ~45k MR points (25k signup last year).

If you close your Platinum Card account without first opening another account your points will vanish. You could maintain the balance by opening a Blue by American Express account, or a business card account. Then you could safely cancel Platinum and apply for Preferred Rewards Gold when you are again eligible for a bonus.

Be aware that you will not be able to transfer to airline or hotel programs during the period when Blue is your only card, but this is only a strategy to maintain the balance. Also, it must be the Blue card which participates in Membership Rewards Express, not Blue Cash or Blue Sky.

That seems like a great strategy!

My only question would be around 'Membership Rewards Express' vs regular MR points.

Will my current MR points be converted to 'Membership Rewards Express' points upon closing my Plat (with a Blue card open).
And after I open a new MR points card will points earned under the Blue card be converted to regular MR points? Or are they counted as separate values all together?

Thanks again for your help!

Will my current MR points be converted to 'Membership Rewards Express' points upon closing my Plat (with a Blue card open).

Yes

And after I open a new MR points card will points earned under the Blue card be converted to regular MR points?

Yes

Then you could safely cancel Platinum and apply for Preferred Rewards Gold when you are again eligible for a bonus.
I'm facing a situation very similar to OP. I'm sorry if this question has been answered in other threads, but I didn't see anything after taking a quick look. Is the new policy about no sign-up bonuses for current Green/Gold/Plat cardholders being enforced? I know the language was added a couple of months ago to say that nobody who has held a Green/Gold/Plat card in the last 90 days is eligible to receive a sign-up bonus for one of those cards, but I also know that Amex policy is not always the same as practice. Any recent data points?

If this is indeed being enforced, instead of opening a new Blue account, could one simply downgrade the Plat to Blue, then wait 90 days and apply for PRG? Just seems a little simpler/cleaner, and possibly better for credit score, to only have two accounts instead of three (one canceled, two open).

I'm facing a situation very similar to OP. I'm sorry if this question has been answered in other threads, but I didn't see anything after taking a quick look. Is the new policy about no sign-up bonuses for current Green/Gold/Plat cardholders being enforced? I know the language was added a couple of months ago to say that nobody who has held a Green/Gold/Plat card in the last 90 days is eligible to receive a sign-up bonus for one of those cards, but I also know that Amex policy is not always the same as practice. Any recent data points?

If this is indeed being enforced, instead of opening a new Blue account, could one simply downgrade the Plat to Blue, then wait 90 days and apply for PRG? Just seems a little simpler/cleaner, and possibly better for credit score, to only have two accounts instead of three (one canceled, two open).
Sorry, just read some more threads and realized that downgrading from Plat to Blue is probably not going to be allowed without a credit pull (as Plat is charge and Blue is credit). But would still appreciate any feedback on the first question.

I have the opposite situation: I have a Gold card, but am thinking about upgrading. The airline lounge access + $200 credit + MR bonus make it a good deal.

However, as I may not want to keep it for more than a year or two: can I not just downgrade to Gold? I'm fine with having a credit report run or whatever. I just don't want to have to cancel one card and apply for another, as who knows what the future will bring, financially, and I wouldn't want to get rejected and thus lose my access to Gold-level Membership Rewards.

Thanks.

Is it still possible to downgrade a Plat to a PRG/Gold/Green while maintaining the payment history on the credit file? My Plat is my longest held card, but I want to apply for the MB, and I'm not willing to pay nearly $1k for 2 credit cards, so I'm thinking of downgrading the Plat account...

I have the opposite situation: I have a Gold card, but am thinking about upgrading. The airline lounge access + $200 credit + MR bonus make it a good deal.

However, as I may not want to keep it for more than a year or two: can I not just downgrade to Gold? I'm fine with having a credit report run or whatever. I just don't want to have to cancel one card and apply for another, as who knows what the future will bring, financially, and I wouldn't want to get rejected and thus lose my access to Gold-level Membership Rewards.

Thanks.

What I wound up doing was to cancel the Plat and get the Blue. However, when I called to cancel Plat they did offer me the option to downgrade to Gold or Green (and offered some not-exciting bonuses for doing so instead of canceling outright).

If you close your Platinum Card account without first opening another account your points will vanish. You could maintain the balance by opening a Blue by American Express account, or a business card account. Then you could safely cancel Platinum and apply for Preferred Rewards Gold when you are again eligible for a bonus.

Will points vanish if I have a Biz Gold card and cancel my MBZ plat? I'm 99% sure they won't but I'd like to be 100% :P

Will points vanish if I have a Biz Gold card and cancel my MBZ plat? I'm 99% sure they won't but I'd like to be 100% :P

I got a letter from Amex today telling me that since I had a Membership Rewards First card (platinum), that my business rewards gold would accrue points in that account. And that if I ever canceled the MRF card, that I would lose the MRF benefits but not the points.

By the way, you should look at what you lose between MRF and regular MR. I believe it's the airline transfer partners and such. So if you want to transfer to an airline, be sure to do that first, or you'll have to get another platinum card to do it later.

...look at what you lose between MRF and regular MR. I believe it's the airline transfer partners

There is no difference between Membership Rewards First and standard Membership Rewards with regard to airline or hotel program partners or transfer ratios.

The differences are discussed here:

http://www.flyertalk.com/forum/american-express-membership-rewards/620648-does-anyone-know-what-membership-rewards-first-did-anyone-else-get-letter.html