2 questions about cancelling Amex platnium card
 

Good afternoon.

I've had the Amex platnium for about 11 months. Not really sure if i want to keep it, i like the lounge access and $200 credit each year but dont know if thats enough to warrant the $450 annual fee.

1 - I called to inquire about cancelling (citing that i didnt think $450 was worth it) and they offered me a $100 statement credit as a retention bonus. If I take them up on this bonus am I required to keep this card for a certain amount of time? Can I cancel the next day? Must I keep it for a year, etc??

2 - I know this card gives you $200 in airline credit/gift cards each calendar year. I got $200 in delta vouchers in 2014 and in 2015. If i cancelled the card today, then signed up again in a couple of weeks would I be able to get $200 in vouchers for both 2015 and 2016 or could I only get them for 2016? (I know i would not be eligible for any sign up bonus).

With $100 statement credit and $200 in airline vouchers i'll probably still keep the card anyways ($150 a year for lounge access is worth it to me), but was curious if theres a way to maximize this card.

Thanks.

You can earn a new account bonus if you apply for the Mercedes co-branded Platinum card (if you have not previously held it), or for Business Platinum (if you have not held it for 12 months.)

1 - I had this once. Called to cancel, agreed to keep. Credit was posted, I went back and did cancel about 4 months later. A couple months after that, I got a statement for $100 "credit reversal" and paid it. Not what I expected, but I see their side.

Similarly, years ago, same thing with a business Gold card: got points, still cancelled. They took those back from my balance.

This seems to be their policy.

Hmmmm......just called Amex and they told me I would not be eligible for the 50,000 "welcome" bonus if i've ever had a platnium card if i signed up for the MB card.

That said, I guess the MB card is out.

So now its, do i cancel the card and get a new platnium card. No welcome bonus but do i get a $200 airline credit for 2015 and 2016?? Or just 2016? It's only $100 but might be worth it as i'd also go ahead and use the card to get my wife TSA pre-check.

This is inaccurate. Don't call, read here:

http://www.flyertalk.com/forum/ameri...and-cards.html

Have people ever gotten retention offers for the Amex Plat? I think the first year benefits are great $450 - $200 Airline Fee - $100 Global Entry = 150 for the 75k sign-up bonus/Priority Pass/SPG Gold/ETC. Its a no brainier. I also like how Amex dates all your cards to your oldest card which increases your average credit open length.

The next year I cannot utilize the $100 Global Entry benefit as there is no use so it brings it up to $250. I would be tempted to keep it if they offered Miles or something even it was tied to a spending requirement.

I also already have the Chase Sapphire which I like to use for my daily spending.

Many examples in this thread:

http://www.flyertalk.com/forum/ameri...n-bonuses.html

I don't understand an approach from a Platinum card cardholder to a "non-Amex" approach. What's about just switiching to a green or gold card with a lower annual fee.

You can do your calculation your own if they are worth applying or holding. But in that case you will get a lifetime period for using the MR points.

If completely leaving Amex and switching to Mastercard or VISA there is only a very short period to use them meaningful.

So my idea would be to switch to a not so expensive colour.

Or get a no-fee Everyday and keep the MR points forever... No point in paying fees for a card if you don't want/use the benefits. I personally love the Plat benefits, but would need some kind of retention to justify the high fee. Can't see any point to either Gold or Green...

Backdating ended in March of this year. New cards will have your Member Since Date but they will report with the actual open date.

What?? My understanding was that there was no hard requirement to keep the card open. I point blank asked them if they would take back my retention bonus, and they said no, it's just for me to "consider" keeping the card open.

Year 1 - 20k MR points
Year 2 - $100 statement credit

Never cancelled, but this is really interesting to hear.