Datapoint: Amex Platinum, open since 2018. I’ve never requested to close the account or asked for a retention offer. Last year’s spend was around $18K, mostly on airfare and various “coupon book” benefits.

When the friendly rep asked why I was closing, I explained that the coupon-style benefits have become more of a hassle than a perk. I also mentioned that the airline fee credit is getting harder to use since most of my incidental charges are already covered by my elite status. On top of that, Centurion Lounges are often overcrowded or have long waitlists, making them difficult to access.

She thanked me for being a cardmember for 32 years and noted there were retention offers available. She offered to transfer me to a retention specialist. After holding for about a minute, she came back and said she couldn’t get anyone on the line—so she just closed the account!

Honestly, I was fine with that. I suppose I could have pressed to find out what they were, but I really just wanted a break from the Personal Platinum for now. I still have a Business Platinum, which I may keep depending on the renewal terms and upcoming product changes. Down the road, I’m likely to switch to the Schwab Platinum, since I’ll at least get a fee discount based on my Schwab balance.