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Amex has made some helpful moves recently to try to get cardholders to keep their cards – particularly for the expensive Platinum Card, because it’s basically impossible to make use of its (normally valuable) travel benefits at the moment.
Things like double points, double value for statement credit redemptions, and extended time periods to hit minimum spend requirements are welcome, but for many cardholders they aren’t really sufficient to justify keeping a card that has an annual fee of £575.
I rang Amex last week to ask if it was possible to have some of the annual fee refunded and was (politely) told there was no way that was happening at that time.
I then explained that I really was looking to keep my card if they could do anything to help me make that decision and was offered a goodwill gesture of 5,000 Membership Rewards Points, which were credited to my account instantly:
That barely makes a dent compared to the annual fee though, so I asked whether my account might be eligible for an additional bonus based on spending x amount over x time period. The agent checked and offered me another 5,000 bonus points for spending £2,500 in total over the next 3 months. With the standard 1 point per £1 earning rate, that was effectively 3 points per £1 on spend I’d likely be making anyway. Amex has since introduced double points on all spend, so I am now earning 4 points per £1 on my next £2,500 of spend, which is an excellent return.
If you are considering cancelling an Amex card, give them a ring first and ask if they can help you justify keeping it instead. As always, being friendly, proactive and persistent will likely lead to the best results.
I am actually expecting to see Amex introduce some additional measures to help keep cardholders happy (I’ll explain my reasoning in a future article), so am content to keep my card for now.
Have you received any bonus points or a different retention offer from Amex? Let us know in the comments what you were offered and whether you accepted!