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

[bits]

How often do people go for retention offers on the plat charge / in general with amex? I'm in my first year with them but I've had a 275k sign on bonus + 50k referral bonus already, so unsure if they'd be willing to give extra in the first year / start of the second year. Is a first year retention offer even a thing?

Each and every year. If you don't ask, then you're guaranteed 0.

Financial institutions bank on customer apathy. One year I missed a monthly repayment with BankWest by accident, so $35 late payment fee came. I called them to say totally my bad, but as gesture of goodwill could you please waive the fee. Done. $35 better in my pocket than theirs.

 

[Dave G]

Ive had a few retention offers over the years... but this year it was a hard no - we arent doing that any more (apparently !)

 

[sudoer]

How often do people go for retention offers on the plat charge / in general with amex?

Have received a retention offer for the last 3 consecutive years.

Is a first year retention offer even a thing?

Less likely I would guess, and it's harder to justify why you deserve one when their offering would have barely changed in benefits since you signed up. But the algorithm seems to care more about how much you spend, and what types of spend you put on the card.

 

[fletty]

Called to cancel today - didn't state outright that I wanted to cancel, but that I was considering it. The agent asked if a cheaper card would be preferred but that was all, then proceeded to go through the cancellation.
Didn't ask why I wanted to cancel and certainly didn't offer any retention points this time around (I think I got 40k last year).
I've been putting about ~$100k each year through the card, this year the benefits would've been pretty marginal for me and a decent retention bonus would've kept me - but I'm not sad to close the card anyway.

 

[DC3]

Called to cancel today - didn't state outright that I wanted to cancel, but that I was considering it

What card would that be?

 

[fletty]

What card would that be?

Sorry should've clarified - Platinum charge personal.

 

[Ktan89]

Fee due tomorrow.
Tried twice and no gravy. They said they've tightened this and aren't allowed anymore. Anyone got a bonus recently?

 

[sudoer]

Fee due tomorrow.
Tried twice and no gravy. They said they've tightened this and aren't allowed anymore. Anyone got a bonus recently?

Plat Charge or another card?

 

[Ktan89]

Plat charge.
Was thinking of doing the cancellation dance (close the account and see what they say) but he said 100% nothing.

note: You can still reinstate charge cards but he said you can't do that on normal credit cards now (plat reserve)

 

[dylarr]

Just tried with the Platinum charge and also got a hard and fast "no, we don't do that anymore" and citing changes to regulations (even for charge cards) being the reason.

Would be interested to hear if anyone has had any success lately, and if so what verbiage you used.

 

[DC3]

Just tried with the Platinum charge and also got a hard and fast "no, we don't do that anymore"

Manila? May have pulled up the wrong script.

 

[jbmemories]

"no, we don't do that anymore" and citing changes to regulations (even for charge cards) being the reason.

Would be interested to hear if anyone has had any success lately, and if so what verbiage you used.

I'm no good with my speeches, but if you word things around 'the charge card is a different category and regulations exempts this as it is not a credit card' then you might get somewhere. And if lucky, go 'Platinum Edge' would fall under the regs, but Platinum Charge does not.


I don't have any Data Point; but similar might be said/apply to the Business Charge Cards as well.

 

[Triben]

Just tried with the Platinum charge and also got a hard and fast "no, we don't do that anymore" and citing changes to regulations (even for charge cards) being the reason.

Would be interested to hear if anyone has had any success lately, and if so what verbiage you used.

I offered 50,000 points last month, I ask them to cancel and be quite until they asked why I want to cancel, then said devaluation points, also said haven't seen many valued AMEX offers available to use.

 

[burmans]

One thing I know is not to mention the word cancel, which is where the legislation leaves them little room to move. While by no means conclusive I’ve seen some suggest that a more effective line is that you are reviewing cards, while you like the card you can’t really justify the annual fee, and is there any way that they can discount/wave the fee.

Worth a try, but does seem very dependent on who you get.

 

[GrahamBRI]

One thing I know is not to mention the word cancel, which is where the legislation leaves them little room to move.

Yes. National Consumer Credit Protection Act 2009, Section 133BV - "The licensee who is the credit provider under the credit card contract must not suggest that the consumer remain in the credit card contract" AND " The licensee who is the credit provider under the credit card contract must take reasonable steps to ensure that the request is given effect to as soon as practicable."

For Credit Cards - Do not mention that you want to terminate or cancel this will give the credit provider little options in terms of complying with the law.

Just tried with the Platinum charge and also got a hard and fast "no, we don't do that anymore" and citing changes to regulations (even for charge cards) being the reason.

For Charge Cards like the Amex Platinum Charge Card, I am not aware of any similar laws that prevent the card provider from discussing remaining with the card, and this is not my experience (6 months old) either.

'Platinum Edge' would fall under the regs, but Platinum Charge does not.

Yes, I can only assume the many variants of Amex cards that include titles like "Platinum" and "Premium", many of which are Amex Credit Cards not Amex Charge Cards, are driving some of the apparently inconsistent outcomes.

Keen to hear more data points.

 

[SeatBackForward]

Yes, I can only assume the many variants of Amex cards that include titles like "Platinum" and "Premium", many of which are Amex Credit Cards not Amex Charge Cards, are driving some of the apparently inconsistent outcomes.

Err yes this confuses me so much, one of my AMEX's is a "Platinum Reserve", which is equally confusing.

 

[GrahamBRI]

Err yes this confuses me so much, one of my AMEX's is a "Platinum Reserve", which is equally confusing.

That one is a "Credit Card" - so no using I want to cancel type words......