Originally Posted by
injera
Good afternoon.
I've had the Amex platnium for about 11 months. Not really sure if i want to keep it, i like the lounge access and $200 credit each year but dont know if thats enough to warrant the $450 annual fee.
1 - I called to inquire about cancelling (citing that i didnt think $450 was worth it) and they offered me a $100 statement credit as a retention bonus. If I take them up on this bonus am I required to keep this card for a certain amount of time? Can I cancel the next day? Must I keep it for a year, etc??
2 - I know this card gives you $200 in airline credit/gift cards each calendar year. I got $200 in delta vouchers in 2014 and in 2015. If i cancelled the card today, then signed up again in a couple of weeks would I be able to get $200 in vouchers for both 2015 and 2016 or could I only get them for 2016? (I know i would not be eligible for any sign up bonus).
With $100 statement credit and $200 in airline vouchers i'll probably still keep the card anyways ($150 a year for lounge access is worth it to me), but was curious if theres a way to maximize this card.
Thanks.
1 - I had this once. Called to cancel, agreed to keep. Credit was posted, I went back and did cancel about 4 months later. A couple months after that, I got a statement for $100 "credit reversal" and paid it. Not what I expected, but I see their side.
Similarly, years ago, same thing with a business Gold card: got points, still cancelled. They took those back from my balance.
This seems to be their policy.