I’ve been hemming and hawing over whether to renew my American Express Platinum card or not. The renewal fee is $550. Honestly, in the past year, the primary value of this card for me has been the use of Centurion Lounges.
The American Express Platinum card has many benefits, most notably,
- Earn valuable Membership Reward points (note to self: I don’t redeem them often enough – my resolution is to start redeeming my Membership Reward points for travel more often perhaps with award trips to Dublin and Asia on points transferred to participating airlines),
- $200 Statement Credit for reimbursement of airline incidentals
- Uber credits (note: I use this benefit because it’s there, but I’m a New Yorker and generally prefer the subway)
- $100 Statement Credit for Saks Fifth Avenue purchases (note: like the Uber credit, I use this benefit because it’s there, but wouldn’t otherwise shop at Saks)
- Centurion and other Airport Lounges (note: I like Centurion Lounges – I frequently fly on AA out of LGA, and my trip begins with a stop at the Centurion Lounge; I’ve visited Centurion Lounges in many cities and there are many new lounges being opened), Priority Pass (note: I get this benefit from other cards as well), Delta Sky Club (note: I’m not flying Delta as much as previously, but I enjoy this perk when I do fly Delta)
- Fine Hotels and Resorts program (note: many people find this benefit valuable, but I admit that I’ve never used it)
- $100 Global Entry reimbursement (note: this is a great benefit, but I’m not due for renewal anytime soon).
On the negative side, I should mention that various travel and consumer protections previously offered by the card have now been withdrawn or diminished, Delta Club Lounge entry is only for one person and the Priority Pass does not include restaurants.
Before canceling a credit card, I usually call customer service to see what options I may have or if there are any additional incentives for me to keep the card.
I decided to call American Express and see if there was a retention offer. I called the phone number on the back of the card and briefly explained why I was considering cancelling the card. I was connected to the Retention Department.
After a brief discussion, the agent, Heather, told me I could use 55,000 Membership Reward points to pay the $550 fee, She said it would normally be 90,000 points. I rejected this offer saying this would be a horrible waste of my points.
Next, she gave me another offer. If I spent $3,000 in three months, I could get either (a) $200 statement credit or (b) 20,000 MR points.
This was a lukewarm offer, but I accepted it anyway, choosing the $200 statement credit. Others say they would have accepted the points. What do you think?
UPDATE: Your responses mean the world to me. You’ve convinced me to switch my response and take points instead of the cash.