Originally Posted by
kr0n0s
I've read the past dozen or so pages but still confused about what to do next. What is the current consensus? Is keeping CP, with 25k, enough to waive the monthly fee and getting the yearly amex fee reimbursed? Or will I need to have another account to replace the AI that's going away? TIA.
No, you need a linked brokerage account to get the fee waiver. You can keep the CPP account, pay the monthly fees and get the AMEX reimbursed. Or you can open a different sort of separate brokerage account, keep $25k+ in the CPP plus keep whatever is needed in the other brokerage and then get both the fee waiver and the AMEX engagement bonus--this is the so-called 'free' AMEX Plat.
I have a regular AAA brokerage. It's OK, the annual fee is $150 (which I haven't been charged yet) and there aren't any other fees if you don't trade, commissions from $6 to $27.95 if you do. Just set up a low-cost simple portfolio (ITOT + VCIT for example), set up dividend reinvestment and let it ride for a decade or two. If your AI account had their low-cost balanced or growth portfolio (all iShares, Vanguard or State Street SPDR funds) then you can just transfer that into a regular AAA and set up dividend reinvestment and you're done, no commissions.