AmEx Velocity Business

[fffollower]

Hi all, newbie here.

I have the above business Velocity FF card. Received the points and paid the Annual fee. Cannot get any refund on the Annual fee due to the reward being received. Been 2 moths so far.

I don't have any travel domestic travel plans so the lounge passes will come in handy.

Wanted to get your opinion on whether it's worth keeping the card until the anniversary.

Thanks in advance

 

[Human]

Welcome to AFF!

We can’t give specific financial advice, but if I were in your situation I’d be asking myself 2 questions.

First, does the card’s annual fee give you value for money? Do the perks/conveniences you receive from the card more than offset the annual fee you’ll be paying if you keep the card for another year?

Second, what’s the opportunity cost to you of keeping the card? What other cards, and potentially other perks such as sign-up bonuses, would you be giving up if you kept the card?

 

[fffollower]

Welcome to AFF!

We can’t give specific financial advice, but if I were in your situation I’d be asking myself 2 questions.

First, does the card’s annual fee give you value for money? Do the perks/conveniences you receive from the card more than offset the annual fee you’ll be paying if you keep the card for another year?

Second, what’s the opportunity cost to you of keeping the card? What other cards, and potentially other perks such as sign-up bonuses, would you be giving up if you kept the card?

Thanks Human.

The Perks (excluding the bonus velocity points) will not offset the fee. The 2 virgin lounge passes if I were to use them (no plans for travel on Virgin) will not offset the fee. I have a personal card that will cover all the relevant insurances.

I guess there are other opportunities where I can benefit from bonuses. I hadn't considered to see what I could be missing out on. Thank you.

I was reaching out incase there are benefits on the card I may not be considering. Seems a bit of a loaded question in my original request.

 

[lilkid28]

No reason to refund you the annual fee. Keep the card and cancel before next annual fee is due if you must cancel.

 

[fffollower]

The above card also has the perks of upgrading to Tier 2 and 12-month Gold Status. Managed to get the above but haven't redeemed the Gold status.

Am I able to close the credit card and still be able to redeem the Gold Status afterwards (start the 12 month when I book something on Virgin) or do I need to have the CC active?

Thanks

 

[b3LKMZAYN9]

why you're coming here and make it sound like Amex owns you money? i.e., give you those benefits and let you do the double/triple dip without any fee?

 

[fffollower]

I don't believe I have made any sound suggestions as per your (b3LKMZAYN9) response above. My question 'Wanted to get your opinion on whether it's worth keeping the card until the anniversary.'

Also, like many people, this game is being played within the rules/guidelines.