Amex "I'm going to cancel my card" - bonus points given thread.

[Blackswan]

Called today to cancel my Amex Plat. Edge, as the annual fee was due. Told them I wasn't happy that the free return flight had changed to the $200 travel credit. The operator told me that he could offer me the Velocity Escape card with no annual fee. After I told him I wasn't interested, he said he would then start the process of closing the account. I quickly stated I would reconsider if I was offered some points to keep the account. After a brief pause he told me I was eligible for 15,000 points as a retention bonus. I decided to stick it out another year. As a data point, I normally spend ~$10,000 a year on the card

Not sure why I wasn't offered the 15,000 points to begin with, but anyway . . .

 

[theblank]

Not sure why I wasn't offered the 15,000 points to begin with, but anyway . . .

I got that without even asking, all i did was transfer one card type to another.

 

[Ultan Lankford]

My renewal for my Platinum charge card is coming up. To be honest the $1200 is quite steep for me and I only really got it for the bonus points. Now I could try and get maybe 30,000 points to renew but to be honest it is not worth it. The one thing I do like and use with this card is the Priority Pass Membership for me and a guest. Everything else is a bit whatever for me personally.

Do Amex ever consider lowering the rate of the annual fee? Do they offer a pro-rata refund after say 4 months more of using this card?

 

[kaktusdigital]

I have never been successful in getting a reduction on the fee. they just keep throwing more points instead. But in the recent years ( getting rid of Accor + reserve plat has no more free flight to NZ) makes it difficult to justify to keep it.

My renewal for my Platinum charge card is coming up. To be honest the $1200 is quite steep for me and I only really got it for the bonus points. Now I could try and get maybe 30,000 points to renew but to be honest it is not worth it. The one thing I do like and use with this card is the Priority Pass Membership for me and a guest. Everything else is a bit whatever for me personally.

Do Amex ever consider lowering the rate of the annual fee? Do they offer a pro-rata refund after say 4 months more of using this card?

 

[Melburnian1]

Fair enough. Thanks.

straitman, I don't believe Amex is directly affected by the 1 July 2017 Reserve Bank of Australia mandated changes to maximum permitted bank interchange fees.

At least a few bank customers may cancel their cards, so surely at present it is in Amex's interest (at least for a while) to keep its existing arrangements because if anything, its revenue from bank-issued Amex cards may decrease if a few users cancel their bank-issued Visa, Mastercard and Amex cards. Therefore Amex may need to promote its direct issued cards a bit more.

It would be very interesting to know just how many cards there are issued by every finaancial institution and which types have however many cardholders but sadly that information is extremely unlikely to ever become public.

I won't deny however that if Amex perceives it can get away with 'enhancement' it will. Such a great word.

 

[Kelv87]

Called Amex yesterday and asked to cancel my Platinum Reserve and Platinum Edge. Got offered 36k points as a "once off retention bonus" and I accepted.

 

[foggy]

Called Amex yesterday and asked to cancel my Platinum Reserve and Platinum Edge. Got offered 36k points as a "once off retention bonus" and I accepted.

you have 2 expiring at the same time? if you did it separately maybe you could get 36k x2?

 

[tinkybelle]

a friend of mine who doesnt use her plat charge much just got 15k

 

[foggy]

a friend of mine who doesnt use her plat charge much just got 15k

i'm already finding very little restaurants taking amex. Will dump it after first year unless they offer something ridiculous.

 

[liamsal]

Offered 23k to hold onto Velocity Platinum (had for 2 years - annual spend around 80k). Said it doesn't really offset $349 annual fee and asked if there was a better offer, he said no. Might try calling back next week otherwise I'll probably cancel. 30k would've sold me!

 

[hummel]

Offered 23k to hold onto Velocity Platinum (had for 2 years - annual spend around 80k). Said it doesn't really offset $349 annual fee and asked if there was a better offer, he said no. Might try calling back next week otherwise I'll probably cancel. 30k would've sold me!

interesting.. I was offered the 23k (i think) and maybe spend a max $10k/year

 

[liamsal]

interesting.. I was offered the 23k (i think) and maybe spend a max $10k/year

I mean he said to me that I'm classified as a 'high valued customer' due to the activity on my account but that was a pretty lame offer imo

 

[foggy]

I mean he said to me that I'm classified as a 'high valued customer' due to the activity on my account but that was a pretty lame offer imo

dump that card and go EXPLORER?

 

[momad]

Plat Charge Card up for renewal. Called first time and was not offered anything. Guy did not ask why I wanted to close but quickly offered me a Gold card, stating lower annual fee. I said no. The guy then offered to process my request to close. I said hang on i will call you back after I transfer my points out of the account.

Next call, got another guy who asked why and I just said high annual fee and no more free flights. He said he will proceed to submit request to close my account. I got sick of hiding behind the bush and just ask straight up what can you offer me to continue. He said 36k. I said can you please do more? He said no as that is the most. And I said ok. This was done in like less than 2 minutes conversation. Till next year...

 

[foggy]

That is pretty good, how much do you value 36k pts? Are you paying $1200 or a discounted rate?

 

[lucky777]

Hi Guys,

I m wondering if anyone has retention team's direct contact number.
I have a charge card and velocity platinum card, and only been offered 8k on each card, thats right 8k only....
Any suggestion is appreciated, thanks.

 

[Moindardt]

i'm already finding very little restaurants taking amex. Will dump it after first year unless they offer something ridiculous.

I find about 80% of mid to high tier take it. On the cheaper end, McDonalds and KFC always take it.

 

[Blackswan]

I find about 80% of mid to high tier take it. On the cheaper end, McDonalds and KFC always take it.

My local KFC doesn't

 

[foggy]

Hi Guys,

I m wondering if anyone has retention team's direct contact number.
I have a charge card and velocity platinum card, and only been offered 8k on each card, thats right 8k only....
Any suggestion is appreciated, thanks.

have you already been charged the annual fees? how much do you put through the cards?

 

[stoozer]

I would be dumping the restaurants that don't accept Amex rather than dumping Amex. If a business doesn't accept Amex they won't have me as a customer.