American Express Membership Rewards - If I want to downgrade?

If I want to downgrade from AMEX Platinum Card to regular AMEX, I was told that my credit history will also be erased and I have to start from very very basic(minimum) credit line as a new customer. Is this true?

I had kept AMEX Platinum for years and spent a lot, but since I have so many other cards, so I just do not need the benefits of Platinum card anymore.

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Regular Amex, do you mean a Green charge card or do you mean a credit card, such as Blue or Optima, with no annual fee?

No. If you were really told that going from Plat amex to Green amex would erase your credit history they lied. Why would they lie? So the Amex employee would score a higher percentage of retention of customers. Did you get transfered to the retention dept? Either way the answer is NO NO NO and No your credit history will not be erased. They can not erase it and if you are talking about amex internal in most circumstances you can re-open an account within a year without Amex considering you a new account. If you are talking about external credit history you know the stuff about 7 years...blah...blah and blah.

I'm not sure about credit history, but I just cancelled my Biz Plat Amex and they tried like heck to downgrade me to the Biz Gold Amex (one level down) with the lower annual fee. They also offered to give me a $150 credit on my next statement (for keeping the Biz Plat Amex) to help offset the annual fee which was going to kick in on the next statement cycle.

If I want to downgrade from AMEX Platinum Card to regular AMEX, I was told that my credit history will also be erased and I have to start from very very basic(minimum) credit line as a new customer. Is this true?

I had kept AMEX Platinum for years and spent a lot, but since I have so many other cards, so I just do not need the benefits of Platinum card anymore.

Maybe this helps: Just apply for any other credit card of American Express and let them open an account for your 2nd card. After this card has arrived, then you can candel your "old" and more expensive card and use this new and "lower" one.

So remain customer in their database, have an active account and save a lot of money. :D

As far as I have experienced in daily transactions at different shops, gas stations and department stores it doesn't make any difference for the personnel there which coulour you have. And most hotel chains have their own loyalty card and offer more services to their own loyal customers ! So a Gold or Green card would mostly work for the transactions.