Originally Posted by
jn in ca
The total number of Platinum cardholders grows nearly 10%/year. I'd surmise that many, many, many people do not do exactly as you did. Plus, with the new once in a lifetime signup bonus, they'd be fools if they did.
I have no idea what new benefits AmEx is going to add to the Platinum AmEx, but it is hardly an unpopular card as it stands now.
The once in a lifetime signup bonus has no bearing on the decision to cancel.
In fact, everyone should always cancel the card every year. And here is why?
The first year you have the card, you can double dip on the calendar $200 airline award. After the first year, you cannot. So rather than keep the card and only get the $200, you should cancel. And then re-open in a month, and again double dip the $200 airline bonus. Eventhough you won't get any more MR points, you're still getting $200 x 2.