Originally Posted by
Finagler
The lost revenue from the annual fee is something that might matter to Amex. Whether it matters a lot or a little to them, it is at the very least "something" that would run contrary to "no reason".
The effective AF after subtracting the credits and benefits is quite low. I think AMEX cares more about the number of PLT card members than the annual fee contribution from someone who doesn’t spend much on the card.