20k points for $2k in 3mo offer
Received and accepted.
I called the direct retention number today and explained that my card had just come up for renewal and I was thinking of cancelling because of the devaluation. I asked if AmEx was offering any incentives to stay. The agent engaged in a friendly update--scripted, I presume--about the new, free night credit; the airline transfer partners; etc. Then offered me the retention offer.