Phrantic

Hi guys,

I just recieved my 2008 annual statement, and while i'm not at Centurion levels, i'm only about 100k away. I'm curious as to if anyone has had any luck calling amex and getting a nice freebie for being a decent customer who rolls in 150k a year. MR points, or a free pen or something silly like that.

Thanks.

xolinlevh

if you call and just ask for a freebie....doubt it. there have been a few people who have called and said they wanted to close their accounts...and SOME of them have been offered incentives to stay, MR points of waived annual fee....but sometimes they dont offer u anything.

upgrader

Or, given the latest AMEX customer strategy you can call them up and ask if they'll follow non-discriminatory practices by giving you the $300 they're giving a lot of people to leave.

MrHalliday

A few weeks ago I called to cancel my SPG business,
as I now am going back to the SPG personal.

They offered me a $45 credit which offset the upcoming annual fee.

Now if I cancel anyway, am I going to feel guilty....
I just have to remember those int'l transaction fees they are raking in....

J-FLyer

Tried to downgrade my Platinum to Gold and they bribed me with 25000k MR to stay Plat. Who am I to say no? Primary spend shifted to SPG, but I need a MR card until I figure out what to do with the existing points.

My takeaway, they won't give you something for nothing, but if you legitimately are okay leaving, then tell them so and maybe they'll try to keep you.

layz

I'm waiting for the first person to report that they've been offered an incentive to stay only to be offered an incentive to leave a month later

deelmakur

I have been Centurion almost from the start (and an AMEX cardmember for 46 years). Never real happy with its performance. Then, after they increased the annual fee, in spite of a letter saying it was "grandfathered", I dumped my wife's card, and renewed mine, but moved my spending to another card. It isn't the money. It's about honoring commitments. For the past year, I have spent less than $2500 a month, and dared them to cancel me,which they did not. I renew in April,and I called to remind them that for 80 bucks a month, which is all they added from the higher fee, they lost thousands in merchant fees. All this, while they have had to seek TARP money, and are spending millions in payments to folks who will cancel ther cards. They said, "fine", and then went into some clueless speech about how much I would have to pay to get it back. They are clueless, and I don't say that because it involves me. If you simply analyze the logic (or lack thereof), you see how a franchise like that can get to a point where the stock drops from 50 bucks to 10. In the current environment, where many well off people have seen their net worth plummet, or lost jobs, I can't think of a more inappropriate card to flash, but more importantly, the experience I described sends a chilling message about how out of touch financial institutions are, and by extension, because of that, how much longer the problem will persist. You may think I am the biggest jerk in America, but the numbers I described, are what they are. There is no hope for a place like that under the current direction, and I'm not sure they are alone. Anyway,I wouldn't look for retention incentives any time soon.

traveler18

I have a Starwood AMEX and a Platinum.
I have kept the Platinum, mostly for access to the Mexico City lounges that I use 4 or 5 times a tear as all spending is on the Starwood.

I called to downgrade or cancel the Platinum - they were helpful and tried to convince me on the many virtues of the Platinum vs a Gold, Green or none, but no incentive at all.

I have not yet decided - but will likely cancel the Platinum.

IAH Oil Man

I just called and had my plat changed to gold. I thought they might offer me something to stay, they put up a stuggle telling me what I would loose, but they didn't offere me any MR points or anything else to stay.

90minfromJFK-CDG

Same here. I didn't change yet, but I'm considering it. Have a couple of trips where the plat benefits (FHR, etc) might be useful.

deelmakur

American Express Co. Chairman and Chief Executive Kenneth I. Chenault earned salary, perks and stock-based awards in 2008 valued at $36.6 million. An article in the Money & Investing section Wednesday incorrectly said the total was about $36.3 million.

The above appeared in the WSJ. This is the same company that was one of the first to ask for, and take, $3.5 billion in TARP money from you and me (the taxpayer). With business acumen like that, you can see how they are doing so well.