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In this video we show you how to save on annual fees by downgrading your Amex Charge card or credit card. These are the American Express downgrade rules and options for you, whether you have the Amex Platinum, Centurion or an Amex credit card like the Delta Reserve.
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36 comments
Article on Amex downgrades: https://thecreditshifu.com/news/how-to-downgrade-amex-credit-card-to-save-annual-fees/
Amex military benefits https://www.americanexpress.com/us/help/service-members-civil-relief.html
I was told by AMEX that if I downgraded my vanilla Platinum and applied for the Charles Schwab Platinum I would be ineligible for the sign up bonus.
I’m going to cancel green, platinum and gold cards lol.. not planning to keep any Amex.
Can you switch from a regular platinum to a Schwab platinum with applying for a new card?
Times be rough, the hats back. lol
Are there any crazy credit stories people have?
thank you guys for this kind of videos, this content. Could you make video more deeply, about point cash back, in some case for not super travel if even 1-2 times a year, no make sense point. cause cash back can find with 2-3% some categories. with amex gold, I got points but when I transfer it, I charge fee, after that I count and decide that may be not make sense. better and more I can make with real cash . am I right?
yo i feel him with the hair… my hair is getting a BIT wild
The Dudley Moore of credit card info. Good job
I'm keeping my AMEX Gold (use this with BBP) and Blue Cash Preferred card. The annual fees are worth it for me. I can get good value out of them both. 🙂
I just got a retention offer on my Amex Gold: 30k points after spending $4k in 90 days. Apparently it makes a difference if you mention the Coronavirus as your reason for cancelling.
i am glad they waive my fee (scra) ,☺☺ plannijg to get more in thr long run
Yup and we get free $300 chase
I will downgrade to the Bus Green if they improve it, otherwise I'm switching to the Charles Schwab Platinum. I have plenty of MR points that would be useful in the stock market. The Bonvoy card is getting axed.
Have the Delta Reserve, hoping I'll be able to get a retention offer when the time comes.
I have the Hilton honors surpass card. I just called and they gave me 20K points with a 3K spend.
"Hey credit warrior, credit Shifu hear" hahahaha!
Got a 15k retention offer for my Gold card back in February. Should have waited until now to call them 😉
Do we loose points if we downgrade from the delta card?
FWIW, I just called to cancel my Amex Platinum, and they offered me a $300 statement credit for spending $4,000. Didn't accept it, as I got a Hilton Aspire card 3 months ago, and in this environment, net $250 is still a lot to pay for benefits that are inaccessible for the foreseeable future, but it is a sign that Amex is really trying hard to keep people in this card.
Active Duty Amex Card holders could also be refunded any annual fees they paid prior to applying for their SCRA benefits.
Wonder if AMEX would be willing waive fees for health care workers for doctors and nurses🙏 #fuckcovid19
I was denied the retention offer. Basically said everything you mention, down/upgrade options within delta family-which can only be done on the phone. Take on pro-rated change instead of any refund. The next question becomes, is it worth holding delta gold for 2x points for supermarkets (I am not buying from restaurants)?
There is also a senior Amex Green with no annual fee. No MR points though.
If you downgrade can you upgrade in the future again?
Why can't you apply for the AmEx gold card anymore? Are they revamping it?
I called AMEX on Friday asking them to waive the annual fee they just charged me ($550) and they said no. I called this morning to tell them I was downgrading and they offered me a $500 credit or 50000 points, no questions asked. I took the $500, as my goal is to carry a zero balance for the time being. I'm grateful that they were accommodating. It also seems silly that I had to call and threaten to downgrade just to get what I initially asked for, but such is life hahaha.
So if you downgrade your AMEX Platinum, you can re apply for Charles Schwab AMEX and receive the bonus points?
what can i downgrade an amex business gold to ?
I went from vanilla Plat to CS plat, when is the best time to cancel the vanilla plat after the first year? Thanks! Always great info
So I can't downgrade my Amex Green card. Damn
I think if you only want 1 of these cards & not crazy about 550 AF, then get the platinum for the targeted 100k and downgrade after year one…beats getting the gold for only 35k-50k and never getting the platinum 😶 idk…I’m guessing this could work
Thanks for the video. Very helpful! Keep the great videos coming.
Hey Mr shifu thanks a lot for this video I have a question for you you did a video on American Express they could possibly make the annual fee go up on the Platinum to $700 if it does go up that high I may have to downgrade to the gold card because I don't want to lose their relationship and the history with American Express is this a good idea? Thank you for all your information I am a subscriber to your channel best thing I ever done
What if you open a Delta Reserve and downgrade it to Delta Blue, would you still get a sign-up bonus if you open Delta Gold? Would you be able to downgrade it to another Delta Blue?
If I downgrade from platinum to green will I get the bonus for the green 45,000 mr points?