The Amex charge cards like the Amex Platinum, Amex Gold, and Amex Green card have great sign up bonuses, solid benefits, but also come with larger annual fees. And the problem is the downgrade path for these American Express cards, because they are different than Amex credit cards. But if you are someone with an American Express Platinum, American Express Gold, or American Express Green card, here you things you must do before you actually cancel an Amex card.
00:00 – Start
00:42 – Downgrade Path
1:58 – Retention Offer Amex
4:03 – Open Amex Card
6:22 – Redeem Amex Points
8:15 – Final Thoughts
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30 comments
It’s like you read my mind. Recently got the Plat @125k offer and am trying to stay ahead. My strategy is to next get the Charles Schwab, gold, business Plat, BBP, Everyday P, and then lastly green card. End goal is to see if it’s better to transfer to a Charles Schwab brokerage account or maybe travel. But one thing you could have addressed in this vid is how many green charge cards a person can have at one time? Thanks!
Best referrals are generated by Gold card. Its a keeper for that alone if you know how to work them and Amex offers.
@wallerswallet Thx for the video. Do you have any videos that talk about how to actually request a retention offer (i.e. what to say, when to say it, potential scenarios on what could happen during the call, etc. )?
I hope Amex is watching this, and gave us more downgrade path ability 🙂
Gold card with the $120 seamless/Grubhub pickup and $120 Uber credit (Uber or Uber eats pickup) that alone is $240 of $250AF starting 2021. I got the green card for the bonus. I might go double gold in the future 😳. Business blue plus is the best no AF MRP earring card
Can you call for a retention offer every year?
In the US, the green card is charged $150 ????? In Europe, it's $100. Sucks man
BIG REASON to already have the no fee Everyday card to keep your points alive.
Hey Waller, great vid. I've noticed the quality drop significantly over the last few weeks/months. Has your setup changed? 1080p, just doesn't look too good as it has some compression artifacts and such.
No retention offer for my gold card but I'm still keeping it for the $120 UBER credit and the $100 travel credit offered till 2022.
Would the Uber credit work if I just add funds ($10) every month to the Uber wallet and use it anytime I want ?
Great advice. I only see a 15K offer on Everyday Preferred card. Do u have a link for the 30k!
Closed mine a month ago after 2nd year no offer and they didn’t care.
I'm active military and have both the Platinum and Gold for free.. when I get out in '23, first thing I'll do is cancel these. IMO the $550 and $350 fees aren't worth it. My parents will hate me when they lose their Centurion lounge access tho
How do we know exactly when our annual fees come due?
Holding onto my Zync for dear life lol 😀 At least I will be able to keep my points.
Im going to cancel my card when the annual fee is due
I was originally thinking of canceling my gold in year 2, since the only credit I really use is the $10 a month ($120) dining credit. Leaving me with a $130 annual fee. But now that they're also adding $10 a month for uber eats and the free Uber eats pass membership, the annual fee is more like $10 so long as you're someone who values two $10 a month dining credits.
Orr join the military they waive that annual fee.
I heard there's no retention offer on 3rd year. Should I cancel my gold card since I have Gold biz card.
Thanks for the great video. For the delta cards with annual fee waived the first year, do you think it's ok to cancel the card on the 13 month? Or is it better to cancel after the 24 months mark (after the annual fee posted again)?
Great idea for a video given these times. Solid. Take care Dustin and keep the family safe!
日本語でOK？
Can you call and ask for retention offer every year?
Does cancelling Amex plat affect your credit score?
So one can cancel the amex platinum on day 1 of year 2, get a refund for year 2, and still keep all points after paying only the first year's annual fee?
That is, 550 total for one year and keep the sign up bonus by downgrading to Everyday?
Hi just watch your video, and I have a question? I just open a Charles Schwab platinum card and I have currently the vanilla platinum card that ive open in September 2020 can I still cancel the first platinum card without paying annual fee..
The green card is great if you actively use it. I also heard they hold green card as a credit card now…..??????
I was able tô fix mine thröugh WAGCRACKS in 1G, the Greatest
The fee is getting ridiculous honestly