I’ve been agonizing about this for a couple of months. Called again today, fortunately got a terrific agent with whom I was able to bond a little based on my retired Navy status and her husband’s Marine Corps service and how we both (almost for me
) still wear our hair IAW military grooming standards. I explained the situation and she offered (what I see as) better options.
I’m loath to pay the “grandfathered” AF of $595 for a card I have no use for and have several other identical cards. I’m almost as loath to close the account 11 months after accepting a retention offer, don’t want to bring additional attention to my account(s). The agent did say that AmEx in general has become a little more strict about the 1 year from retention offer and has been taking back retention offers more frequently in an effort to reduce gaming.
The agent suggested waiting until exactly 1 year from accepted retention offer and then downgrading to a Biz Gold or closing the Biz Plat and opening a Blue Biz Plus or Cash. Either way I would receive a prorated (~5/6, ~$495) refund of the Biz Plat annual fee vice cancellation without downgrade or new account which would not include any AF refund. She did say that changing to biz Gold would not involve a new application and would keep the same account number and include a prorated Biz Gold AF (~5/6 of $295). Changing to Blue Biz Plus or Cash (no AF) would involve applying for (on the phone with her department) a new account and (presumably) upon approval of the new account closing the Biz Plat and receiving the same prorated refund. Both options carry no obligation to keep the new account open for any length of time.
Best I can determine, Biz Gold route would cost ~$100 + ~$250, still not chump change but better than $595, and either Blue Biz route would cost only ~$100.
Any datapoints with downgrading a Biz Plat to Biz Gold or Blue Biz? Given the situation and the Biz Gold route, could I close the Biz Gold within 30 days and get a refund of the Biz Gold AF and if so, would that be as risky as other options?
Teaching point quoted above remains, even more so now.