Closing AmEx PRG during the first year?
I opened the AmEx PRG card, then opened the AmEx Platinum card later. So the PRG card becomes redundant. I received SUBs on both cards. So I really want to close the PRG card. But it seems AmEx has some policy in place for folks who cancel new card in the very first year. The PRG AF is waived for the first year.
Should I keep PRG card open for at least one year? Or I can talk to CSR into closing the card? |
You should at least double dip (for the two calendar years) the $100/year airline fee reimbursement. That's 4x$50 Delta gift cards if nothing else.
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I'm more concerned with the possible ill effect from AmEx for closing the card so early.
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That is possible. Amex is all about its membership vs customer view. They can look poorly, and potentially hold a grudge, if you cancel it quickly. There isn't much benefit closing it would have. Only real benefit I can see is less open accounts on your credit report but that's not much as it will still be marked as opened on the date.
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Originally Posted by RedSun
(Post 29452207)
I'm more concerned with the possible ill effect from AmEx for closing the card so early.
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Originally Posted by RedSun
(Post 29452128)
I opened the AmEx PRG card, then opened the AmEx Platinum card later....
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Originally Posted by mia
(Post 29452661)
Premier Rewards Gold earns bonus points in some categories where Platinum earns only one point per dollar (US restaurants, US gas stations and at US supermarkets.) Use it for those purchases.
Folks recommend to possibly close it in the 13th month. So the AF can still be refunded (within 1 month). And this still does not break AmEx's rule for closing the card within the first year. Not sure if this matters. I just have no reasons to use this card any more for the MR earning. |
Originally Posted by RedSun
(Post 29453127)
I know that. I got the PRG before Platinum and other premium cards. I get more coverage than I can use.
Folks recommend to possibly close it in the 13th month. So the AF can still be refunded (within 1 month). And this still does not break AmEx's rule for closing the card within the first year. Not sure if this matters. I just have no reasons to use this card any more for the MR earning. |
Originally Posted by edealinfo12345
(Post 29453422)
The question is how does Amex calculate 12 months.....is it 365 days from opening the account? If this is the case, in several instances, you will reach 365 days before the 12th month bill is generated.
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Originally Posted by RedSun
(Post 29452128)
Should I keep PRG card open for at least one year? Or I can talk to CSR into closing the card?
There may even be a retention offer at that time. |
The first AF has just been posted. I can call to get the card cancelled and get the AF back. Or let it go for another 6 months or so and cancel it. My SO has the same PRG card and I get other cards with the same or better benefits. I still keep my Platinum card.
We'll have the same situation with SPG card later. The new SPG biz card would replace the SPG personal card. We still spend like $3,000 to $5,000 on AmEx cards each month. Just like to hear some past experience with this situation. |
Originally Posted by RedSun
(Post 29528105)
The first AF has just been posted. I can call to get the card cancelled and get the AF back. Or let it go for another 6 months or so and cancel it. My SO has the same PRG card and I get other cards with the same or better benefits. I still keep my Platinum card.
We'll have the same situation with SPG card later. The new SPG biz card would replace the SPG personal card. We still spend like $3,000 to $5,000 on AmEx cards each month. Just like to hear some past experience with this situation. |
Originally Posted by Gig103
(Post 29529476)
Definitely pay the first AF and keep the card open this year, or they will claw back the points, and possibly blacklist you (taking away your Plat, too). People who churn to get signup bonuses to cancel before paying an AF are definitely the people the Amex RAT team are looking for. Remember that Jan 1, 2019 you will get another $100 airline credit before closing in Feb.
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Originally Posted by RedSun
(Post 29528105)
The first AF has just been posted.....
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I recently got the PRG (amazes me how blogs do not push the 50K sign-up bonus for 2K spend, I guess they get no kick backs) and I do not yet have the AMEX Plat. I have within the last year canceled both the personal Delta Gold and Delta Plat after the first renewal year AFs posted. Gold of course is waived first full year, and Plat I paid first full year right after getting it (but you get the companion pass after 12 months and they do not claw it back, even if you cancel after 1 year and get the 2nd annual fee refunded).
Anyways, I am getting ready to keep my personal SPG card after the first 12 months being fee-free and pay the AF on it. I am a ways out from the first fee I'd have to pay on the PRG card, but I suspect I'll keep it and pay the fee for at least one year, to offset any potential issues from closing the Delta Gold and Plat after the first year. I'd probably be okay regardless since I kept those cards technically more than 12 months, but I quite like AMEX and do not want to chance my long, positive history with them for something short sighted. I do have the Chase Sapphire Reserve which gets basically all my travel and dining spend, and airline tickets for the trip insurance, yet even despite this, paying 1 fee for the PRG in the 2nd year I think is not the end of the world. Especially if you got the 50K sign up bonus, versus the 25K one. |
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