Amex platinum annual fee

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills.
Topic Author
bigguy8437
Posts: 404
Joined: Tue May 26, 2015 12:02 am

Amex platinum annual fee

Post by bigguy8437 »

I just got charged again for my annual fee of $550 for the American Express platinum card. Has anyone had success in calling and complaining about the fee and getting it waived? Or having any additional perks added for paying? The membership fee is mostly due to travel perks which makes the card not very useful now...
Minty
Posts: 714
Joined: Sun Mar 24, 2013 3:19 pm
Location: NorCal

Re: Amex platinum annual fee

Post by Minty »

Yes. When I called to ask, they offered points or a $300 rebate for spending I think 3K. (I forgot to ask "Is that the best you can do" so I took the first offer.) And they went through some of the alternative benefits they have recently added which I had not noticed. But I used to be a 50K air miles a year person, and I don't think that will ever come back, and I haven't been in a Uber for many months. So AmEx Platinum--once a great card--is much less useful to me than it was last year.
Last edited by Minty on Sun Jul 12, 2020 5:28 pm, edited 1 time in total.
Core Four w/ nominal bonds & TIPS. Refi Rampage: Purchase: 3.875% 30 -> R1 3% 20 -> R2 2.375% 15 -> R3 1.99% 15 -> R4 1.875% 15
Nummerkins
Posts: 674
Joined: Tue Jun 01, 2010 4:41 pm

Re: Amex platinum annual fee

Post by Nummerkins »

Amex might give you some amount of points but they really dont rebate the fee. Either you use enough of the benefits to offset the fee or you dont. You can downgrade to Gold or a no-fee card.
Today's high is tomorrow's low.
Stick5vw
Posts: 241
Joined: Sun Dec 18, 2016 5:46 am

Re: Amex platinum annual fee

Post by Stick5vw »

I’m going through the same thought process. Without the travel perks the card’s value falls significantly for me. Will probably downgrade to a different card soon.
Chicago60
Posts: 516
Joined: Tue Jan 29, 2013 2:40 pm

Re: Amex platinum annual fee

Post by Chicago60 »

I have the Schwab card, and depending on your relationship dollars with Schwab, you can be credited $100 to $200 per year. Additionally, last year I was given 20,000 Amex points to keep the card. I use the $15/month Uber benefit for Uber Eats every month. I also use the two new benefits of $20/month for cell service reimbursement and Netflix/Amazon prime movie rentals. The travel benefits are currently a bust. We will see what changes, if any, AmEx will continue in 2021.
earflop
Posts: 93
Joined: Fri Sep 20, 2019 5:34 pm

Re: Amex platinum annual fee

Post by earflop »

As others have said, AmEx typically won't waive the fee but they'll give you cash or points. I was given 50k points for agreeing to stay signed up for another year. These offers come every other year - they will not give retention offers two years in a row.

Data points for the kinds of offers you might receive can be found at:

https://www.flyertalk.com/forum/america ... rs-46.html
UpperNwGuy
Posts: 9479
Joined: Sun Oct 08, 2017 7:16 pm

Re: Amex platinum annual fee

Post by UpperNwGuy »

bigguy8437 wrote: Sun Jul 12, 2020 4:09 pm I just got charged again for my annual fee of $550 for the American Express platinum card. Has anyone had success in calling and complaining about the fee and getting it waived? Or having any additional perks added for paying? The membership fee is mostly due to travel perks which makes the card not very useful now...
Just downgrade the card to a Gold or a Green, or cancel it outright. You won't be getting your money's worth out of paying the $550 annual fee.

I have the Chase Sapphire Reserve, and when the $550 annual fee comes due next month, I plan to downgrade it to a no-fee Chase Freedom Unlimited.

The bottom line: travel just isn't going to recover in the next 12 months, so high-fee travel cards are a waste of money.
ScubaHogg
Posts: 3573
Joined: Sun Nov 06, 2011 2:02 pm

Re: Amex platinum annual fee

Post by ScubaHogg »

Last year I called to downgrade due to the fee (I rarely used the Uber benefit and already got most lounge access through my company). I wasn’t fishing for a fee waiver, but they gave me a $500 statement voucher right away. No negotiating at all.
“Conventional Treasury rates are risk free only in the sense that they guarantee nominal principal. But their real rate of return is uncertain until after the fact.” -Risk Less and Prosper
mw1739
Posts: 1147
Joined: Mon Mar 21, 2011 5:44 pm

Re: Amex platinum annual fee

Post by mw1739 »

Between the Uber credit (Uber Eats in the current environment) and the $20 each for Cell phone and streaming subscriptions, the annual fee is at worst break even. I also take advantage of the free Shop runner and $100 Saks benefit. They also have the $5 small business rebates going on right now.
fresh_boglehead
Posts: 50
Joined: Sun Nov 10, 2019 7:02 pm

Re: Amex platinum annual fee

Post by fresh_boglehead »

Have the Gold and they are no longer offering anything when I tried this year. Maybe it's like someone above said and they never offer something 2 years in a row? The first year I was able to get some bonus points by spending 3k and we were furnishing an apartment anyway.
User avatar
eye.surgeon
Posts: 1143
Joined: Wed Apr 05, 2017 1:19 pm
Location: California

Re: Amex platinum annual fee

Post by eye.surgeon »

I think you need a very specific life circumstance to justify the annual fee of the AmEx platinum, like perhaps you fly for a living. For me it makes no sense, I do just as well with a no-fee fidelity card.
"I would rather be certain of a good return than hopeful of a great one" | Warren Buffett
Wannaretireearly
Posts: 4881
Joined: Wed Mar 31, 2010 4:39 pm

Re: Amex platinum annual fee

Post by Wannaretireearly »

Been on the fence last two years I've renewed the card.
First time, they allowed me go pay by using amex points.
Second time they offered me $200 after spending $3k on the card.

What do folks get from Sacks every 6 months to use the $50? I got mine to use lol
“At some point you are trading time you will never get back for money you will never spend.“ | “How do you want to spend the best remaining year of your life?“
stlrick
Posts: 655
Joined: Mon Apr 14, 2008 4:37 pm

Re: Amex platinum annual fee

Post by stlrick »

Wannaretireearly wrote: Sun Jul 12, 2020 10:58 pm What do folks get from Sacks every 6 months to use the $50? I got mine to use lol
We buy children's clothing for a toddler granddaughter. But the $50 credit applies to any purchase at any time during the six months, including sales. $50 off a $100 dollar item that was $150 before it went on sale is a pretty good deal.
mw1739
Posts: 1147
Joined: Mon Mar 21, 2011 5:44 pm

Re: Amex platinum annual fee

Post by mw1739 »

stlrick wrote: Mon Jul 13, 2020 10:07 am
Wannaretireearly wrote: Sun Jul 12, 2020 10:58 pm What do folks get from Sacks every 6 months to use the $50? I got mine to use lol
We buy children's clothing for a toddler granddaughter. But the $50 credit applies to any purchase at any time during the six months, including sales. $50 off a $100 dollar item that was $150 before it went on sale is a pretty good deal.

They sell makeup that my wife would otherwise buy elsewhere. Also try to browse the sale section in December to pickup a free Christmas present for the wife.
ncbill
Posts: 2053
Joined: Sun Jul 06, 2008 4:03 pm
Location: Western NC

Re: Amex platinum annual fee

Post by ncbill »

mw1739 wrote: Sun Jul 12, 2020 7:21 pm Between the Uber credit (Uber Eats in the current environment) and the $20 each for Cell phone and streaming subscriptions, the annual fee is at worst break even. I also take advantage of the free Shop runner and $100 Saks benefit. They also have the $5 small business rebates going on right now.
Does the cardholder have to take any steps to get those benefits besides just using the card as payment?

I just kicked my kids off a multi-line cellphone plan on another carrier via switching to Visible (all individual accounts)

One has an AMEX Platinum with the fee waived (active duty military)
mw1739
Posts: 1147
Joined: Mon Mar 21, 2011 5:44 pm

Re: Amex platinum annual fee

Post by mw1739 »

The cell phone and streaming credits are automatically applied. The Uber credits and Saks require registration I believe.
User avatar
sperry8
Posts: 3065
Joined: Sat Mar 29, 2008 9:25 pm
Location: Miami FL

Re: Amex platinum annual fee

Post by sperry8 »

Chicago60 wrote: Sun Jul 12, 2020 5:50 pm I have the Schwab card, and depending on your relationship dollars with Schwab, you can be credited $100 to $200 per year. Additionally, last year I was given 20,000 Amex points to keep the card. I use the $15/month Uber benefit for Uber Eats every month. I also use the two new benefits of $20/month for cell service reimbursement and Netflix/Amazon prime movie rentals. The travel benefits are currently a bust. We will see what changes, if any, AmEx will continue in 2021.
One other benefit is a sig discount on Hertz car rentals + an extra 4 hours (so 28 hour 1 day rentals). In the days of covid rentals could spike vs air travel.
BH Contests: 23 #89 of 607 | 22 #512 of 674 | 21 #66 of 636 |20 #253/664 |19 #233/645 |18 #150/493 |17 #516/647 |16 #121/610 |15 #18/552 |14 #225/503 |13 #383/433 |12 #366/410 |11 #113/369 |10 #53/282
User avatar
whodidntante
Posts: 13116
Joined: Thu Jan 21, 2016 10:11 pm
Location: outside the echo chamber

Re: Amex platinum annual fee

Post by whodidntante »

eye.surgeon wrote: Sun Jul 12, 2020 10:50 pm I think you need a very specific life circumstance to justify the annual fee of the AmEx platinum, like perhaps you fly for a living. For me it makes no sense, I do just as well with a no-fee fidelity card.
I call it the consultant card. People who play the points game and travel hackers also get a lot of value from it.

As a long-term card in your wallet, it makes no sense for the majority of people. If I were to keep it, I would go for the Morgan Stanley version, which can be had for $0 fee with a few hoops. Charles Schwab version also offers subsidies if you bring over big boy assets.

But a 2% card in any form is pretty lame in this golden age of sign up bonuses and credit card points. I had the old Fidelity AmEx rewards card and now the Elan version, and I barely use it. It's very easy to do better.
stlrick
Posts: 655
Joined: Mon Apr 14, 2008 4:37 pm

Re: Amex platinum annual fee

Post by stlrick »

ncbill wrote: Mon Jul 13, 2020 11:33 am
mw1739 wrote: Sun Jul 12, 2020 7:21 pm Between the Uber credit (Uber Eats in the current environment) and the $20 each for Cell phone and streaming subscriptions, the annual fee is at worst break even. I also take advantage of the free Shop runner and $100 Saks benefit. They also have the $5 small business rebates going on right now.
Does the cardholder have to take any steps to get those benefits besides just using the card as payment?
Some, like the cell phone and streaming credits, are automatic. Others, like the Saks credit, you have to enroll. Log on to your account, click on the Benefits link, and then just click the benefit to add it. The Saks enrollment will remain active. You do not need to repeat enrollment annually.
atdharris
Posts: 2091
Joined: Wed Jan 02, 2019 2:18 pm

Re: Amex platinum annual fee

Post by atdharris »

Amex generally won't waive the entire fee, but they will either give you a discount via a statement credit or points. It just depends. I have used no benefits on my card this year due to lack of travel, but the $40/month in credits plus the $15 for Uber Eats is enough value for me to keep it. The $50 Saks credit is nice for a free candle every 6 months too :)
Jags4186
Posts: 8198
Joined: Wed Jun 18, 2014 7:12 pm

Re: Amex platinum annual fee

Post by Jags4186 »

Flyer talk reports people receiving 50k points or $500 retention offers. This has been normal since before COVID.

Make sure you call the actual retention number, not the number on the back of your card.

800.452.3945
cowbman
Posts: 638
Joined: Sat Jan 14, 2017 1:10 pm

Re: Amex platinum annual fee

Post by cowbman »

whodidntante wrote: Mon Jul 13, 2020 12:22 pm
eye.surgeon wrote: Sun Jul 12, 2020 10:50 pm I think you need a very specific life circumstance to justify the annual fee of the AmEx platinum, like perhaps you fly for a living. For me it makes no sense, I do just as well with a no-fee fidelity card.
I call it the consultant card. People who play the points game and travel hackers also get a lot of value from it.

As a long-term card in your wallet, it makes no sense for the majority of people. If I were to keep it, I would go for the Morgan Stanley version, which can be had for $0 fee with a few hoops. Charles Schwab version also offers subsidies if you bring over big boy assets.

But a 2% card in any form is pretty lame in this golden age of sign up bonuses and credit card points. I had the old Fidelity AmEx rewards card and now the Elan version, and I barely use it. It's very easy to do better.
Agree, 2% is easy to beat such as Bank of America Premium/Travel Rewards with Platinum Honors. I think the Schwab card could be a potentially better deal, if you have $1MM they give you a $200 statement credit every year. The card already includes Uber credits, Saks credit, and a $200 airline credit, so it's basically free. In addition, the Schwab version will let you cash out points at 1.25c each. The Morgan Stanley one can be free, but requires hoops and you can only cash out at 1c each. If you get a 60K sign up bonus (SUB), the difference is 0.25c x 60K = $150. So on the Schwab version the SUB is worth an extra $150. In the long-run though and if you aren't cashing out, Morgan Stanley is the way to go.
home_body
Posts: 180
Joined: Sat Jan 18, 2020 8:50 pm

Re: Amex platinum annual fee

Post by home_body »

Another route to reduce your fees if you have a corporate Amex card. You can call them to see if you are qualify for the Corporate Advantage program. I believe you get 250 credit.
Wannaretireearly
Posts: 4881
Joined: Wed Mar 31, 2010 4:39 pm

Re: Amex platinum annual fee

Post by Wannaretireearly »

Jags4186 wrote: Wed Jul 15, 2020 11:50 am Flyer talk reports people receiving 50k points or $500 retention offers. This has been normal since before COVID.

Make sure you call the actual retention number, not the number on the back of your card.

800.452.3945
Thanks!
“At some point you are trading time you will never get back for money you will never spend.“ | “How do you want to spend the best remaining year of your life?“
Jags4186
Posts: 8198
Joined: Wed Jun 18, 2014 7:12 pm

Re: Amex platinum annual fee

Post by Jags4186 »

Wannaretireearly wrote: Tue Sep 01, 2020 12:35 am
Jags4186 wrote: Wed Jul 15, 2020 11:50 am Flyer talk reports people receiving 50k points or $500 retention offers. This has been normal since before COVID.

Make sure you call the actual retention number, not the number on the back of your card.

800.452.3945
Thanks!
Did you have success? What offers did they make/what did you take?
goos_news
Posts: 207
Joined: Mon Jun 10, 2019 7:14 pm
Location: Northern California/French Riviera

Re: Amex platinum annual fee

Post by goos_news »

That's a great tip on calling to get a credit. I get the Schwab card with $200 off, so it is $350. Then I use the Uber Eats credit, the Saks Credit (my favorite Schott Zwiesel wine glasses the last time), the streaming credit, the cell phone credit, and the Global Entry credit (my renewal was due). That is about $1080 in total credits, before any special promotions. I also use Shoprunner.
User avatar
ddb
Posts: 5511
Joined: Mon Feb 26, 2007 11:37 am
Location: American Gardens Building, West 81st St.

Re: Amex platinum annual fee

Post by ddb »

UpperNwGuy wrote: Sun Jul 12, 2020 6:09 pmYou won't be getting your money's worth out of paying the $550 annual fee.

The bottom line: travel just isn't going to recover in the next 12 months, so high-fee travel cards are a waste of money.
While this is likely true for many people, I find the Platinum card useful. The $550 cost is reduced to $350 via the $200 airline travel credit (which is a cash equivalent for me given how I use it). The $350 cost is then reduced to $150 due to the Uber credit (I have to Uber home from a bar at LEAST several times a month due to overindulgence, so the credit is easily used).

So what do I get for the remaining $150 credit? Centurion Lounges and able to book through Fine Hotels & Resorts (FHR). FHR, to me, makes the $550 annual fee a bargain, even without considering the other benefits. The room upgrades and early check-in/late check-out plus $100/stay credits are just so awesome. Even during these unusual times, I've had 5 such bookings during March, and with hotels being relatively low-occupancy, I've received upgrades that are very major upgrades!

I never really use the card for purchases (except for the occasional purchase of more than $5K for the 1.5x point multiplier, if it's a category that I can't get a higher multiplier with elsewhere), but this card would be one of the last ones to leave my portfolio due to the benefits that I enjoy.
"We have to encourage a return to traditional moral values. Most importantly, we have to promote general social concern, and less materialism in young people." - PB
cncm
Posts: 95
Joined: Sun Apr 19, 2015 2:41 pm

Re: Amex platinum annual fee

Post by cncm »

Agree with previous posters - make sure you call the actual retention number, not the number on the back of your card. I made that mistake at first and the customer rep I talked to was very unhelpful. Basically told me there was nothing they could do. Then the second time I called the retention department directly and right away they offered me a $300 statement credit or 30k in points. Since I have the Schwab card where I can cash out the points at a better rate, I picked the points.

Highly recommend the Schwab Amex Platinum, btw. Exact same benefits as the regular platinum card but depending on your account balance with Schwab, you get $100-200 off the annual fee each year. Makes the card a no brainer.
JohnDindex
Posts: 184
Joined: Wed Feb 07, 2018 9:59 am

Re: Amex platinum annual fee

Post by JohnDindex »

We have the card. I like the service and perks. It is a very different experience calling them vs capital one. I like the app.

We have done a minimal 3 hotel stays in the last year. On all 3 hotel stays we got an early check in 12pm, a late check out 4pm. We got our room upgraded on 2/3 stays to a pretty sweet room. We received a $100 resort credit on all 3 stays. We received a $70 breakfast credit on all 3 stays. We took Uber to dinner on one of the stays. We are now getting random credits for streaming services. Our annual spend on the card is $90-100k so we get those points as well. I feel the fee is more than offset. The early check in and late check out are hard to value but we often do one night stays and I find it quite convenient.
pmj78910
Posts: 20
Joined: Thu Oct 16, 2014 10:58 am

Re: Amex platinum annual fee

Post by pmj78910 »

I just saw that Amex raised the annual fee for the Platinum card to $695. And that does not include the additional $175 if you want any authorized users such as your spouse.

I’ve been a longtime holder of this card and have found the travel benefits quite worthwhile in the past. However, even I am grimacing at this price increase. Theoretically, the fee increase should be made up by the new $200 hotel credit, but that’s only if I choose to stay at one of their top tier hotels every year. Also I have no use for the new Equinox gym membership credits or Wheels Up Private Jet membership discount. I’m on the fence on this.

Just curious if any other Amex Platinum users are planning on keeping the card or giving it up at next renewal?
User avatar
Harry Livermore
Posts: 1937
Joined: Thu Apr 04, 2019 5:32 am

Re: Amex platinum annual fee

Post by Harry Livermore »

pmj78910 wrote: Sat Jul 10, 2021 5:45 am I just saw that Amex raised the annual fee for the Platinum card to $695. And that does not include the additional $175 if you want any authorized users such as your spouse.

I’ve been a longtime holder of this card and have found the travel benefits quite worthwhile in the past. However, even I am grimacing at this price increase. Theoretically, the fee increase should be made up by the new $200 hotel credit, but that’s only if I choose to stay at one of their top tier hotels every year. Also I have no use for the new Equinox gym membership credits or Wheels Up Private Jet membership discount. I’m on the fence on this.

Just curious if any other Amex Platinum users are planning on keeping the card or giving it up at next renewal?
I noted the same.
I REALLY have to think this through. It's been a break-even at best for me for several years now. It's been a long time since membership miles have been useful to us for travel, so we have been using them at Amazon, where the "exchange rate" is terrible. The baggage credit and the airport lounge access have been nice, and we have been upgraded on rooms several times while traveling. But the rest of it is just... questionable...
I'm old enough to remember when it was $150. And you had to be "invited" and they limited the membership. The out of nowhere came the funny black card, and I started to see applications for the Platinum card everywhere. That was the beginning of the downgrade.
Any favorite cards here on BH? I could look back over this thread I guess. A cash-back card that includes a year end statement would be a smarter move at this point I suspect.
Cheers
McDougal
Posts: 557
Joined: Tue Feb 27, 2018 2:42 pm
Location: Atlanta

Re: Amex platinum annual fee

Post by McDougal »

Harry Livermore wrote: Sat Jul 10, 2021 6:31 am
pmj78910 wrote: Sat Jul 10, 2021 5:45 am I just saw that Amex raised the annual fee for the Platinum card to $695. And that does not include the additional $175 if you want any authorized users such as your spouse.

I’ve been a longtime holder of this card and have found the travel benefits quite worthwhile in the past. However, even I am grimacing at this price increase. Theoretically, the fee increase should be made up by the new $200 hotel credit, but that’s only if I choose to stay at one of their top tier hotels every year. Also I have no use for the new Equinox gym membership credits or Wheels Up Private Jet membership discount. I’m on the fence on this.

Just curious if any other Amex Platinum users are planning on keeping the card or giving it up at next renewal?
I noted the same.
I REALLY have to think this through. It's been a break-even at best for me for several years now. It's been a long time since membership miles have been useful to us for travel, so we have been using them at Amazon, where the "exchange rate" is terrible. The baggage credit and the airport lounge access have been nice, and we have been upgraded on rooms several times while traveling. But the rest of it is just... questionable...
I'm old enough to remember when it was $150. And you had to be "invited" and they limited the membership. The out of nowhere came the funny black card, and I started to see applications for the Platinum card everywhere. That was the beginning of the downgrade.
Any favorite cards here on BH? I could look back over this thread I guess. A cash-back card that includes a year end statement would be a smarter move at this point I suspect.
Cheers
Another fence-sitter on the platinum card due to the increase as well. Does anyone know if the new fee is immediate for current cardholders? My renewal is coming up in a few weeks. Really looking for a reason to keep this card.
User avatar
Harry Livermore
Posts: 1937
Joined: Thu Apr 04, 2019 5:32 am

Re: Amex platinum annual fee

Post by Harry Livermore »

McDougal wrote: Sat Jul 10, 2021 6:40 am
Another fence-sitter on the platinum card due to the increase as well. Does anyone know if the new fee is immediate for current cardholders? My renewal is coming up in a few weeks. Really looking for a reason to keep this card.
I read it very clearly as "Starting at your next renewal date on or after January 1, 2022, the annual fee for your reimagined Platinum Card will increase from $550 to $695" so I would assume your annual fee this time will be $550.
Who knows, if they get enough pushback, oh, never mind...
Cheers
Skeeter1
Posts: 367
Joined: Sat Jul 06, 2019 1:50 pm

Re: Amex platinum annual fee

Post by Skeeter1 »

From their website, the fee to $695 will occur on January 1,2022 and beyond when your card renews. As I read it, my card renews in December 2021 so I might/should miss the increase this time around and will not face it until December 2022. If this is how it works, I will study my benefits very carefully over 2022 to see if it is worth it. We do have some travel planned in 2022, but the increase is a bitter pill at this point. My initial guess is I will be shopping around for a new card in November 2022.
Da5id
Posts: 5066
Joined: Fri Feb 26, 2016 7:20 am

Re: Amex platinum annual fee

Post by Da5id »

It appears many high end cards are doing this. Chase Sapphire Reserve also has a thread of people angsting over whether the new higher fee (only $550 there) is worth it. The companies probably figure inertia will keep many from cancelling even if the value proposition has gotten questionable.
pmj78910
Posts: 20
Joined: Thu Oct 16, 2014 10:58 am

Re: Amex platinum annual fee

Post by pmj78910 »

Yes. I think you will get the old $550 fee if you are up for renewal before Jan 1, 2022.

I suspect that most will end up keeping the card, including myself. Amex has probably done a lot of research on how much they can raise the fee without getting too many people to jump ship. Besides, the higher fees should make up for the loss of the people that end up cancelling. Similar to Netflix and Amazon Prime raising prices in years past.
User avatar
8foot7
Posts: 4427
Joined: Mon Jan 05, 2015 6:29 pm

Re: Amex platinum annual fee

Post by 8foot7 »

I get easily $100 worth of value from the FHR program per stay. I make more than seven stays a year. Everything else is gravy. I also can run a small fortune through my card without them blinking an eye. I’ll be keeping it.
User avatar
ResearchMed
Posts: 16795
Joined: Fri Dec 26, 2008 10:25 pm

Re: Amex platinum annual fee

Post by ResearchMed »

I'm starting to feel a bit like that slow-boiled frog.
At what point will we say, "Too much"?

In the past, we have made very good use of the plat card hotel benefits: per-stay credit (not a huge amount at most of the $$$ hotels, but we'll take it), and the occasional upgrade (although we've started requesting NO upgrade, as we do not, for example, want a large suite with no view, when we carefully selected a regular room with a terrific view, etc.), and especially those early check-ins and late check-outs. Those actually make a difference to us unless our schedule is too tight to take advantage of it.

Mostly, we make a LOT of use of all of our awards points, both the Amex airline network and our other card, AAdvantage CitiCard's American Airline's network. We've had quite a few really comfortable ultra long haul flights in premium international airlines. It's a different flight experience, one that we appreciate as we've aged.

However, that was before the pandemic. Now, we barely emerge from our house, so "all of the above" is pretty much in the past. For now, we are hoping things will eventually return to some semblance of normal, such that we will indeed travel again by air.

We also have a gold card, so IF we cancel the plat, we won't lose those points.

Does anyone know whether Amex gets testy about members who cancel/downgrade plat cards and then want to get one again later? Do they "fail to approve" such applications, especially if one still has a gold (or green) card? After all, they'll still be getting their little cut of each purchase. And especially if they see one has a gazillion points waiting? (We can transfer those points, but we don't know in advance just which route/airline we'd likely be using, until we are planning a specific trip.)
Or are they more than happy to take the higher annual fee again?

RM
This signature is a placebo. You are in the control group.
Marjimmy
Posts: 218
Joined: Tue Nov 13, 2012 10:14 pm

Re: Amex platinum annual fee

Post by Marjimmy »

I've been debating this heavily myself..... Wether downgrading is the play or not.

Hard to justify $695 for a travel / luxury card when you barely travel now...
Very little is needed to make a happy life; it is all within yourself, in your way of thinking. -Marcus Aurelius
User avatar
8foot7
Posts: 4427
Joined: Mon Jan 05, 2015 6:29 pm

Re: Amex platinum annual fee

Post by 8foot7 »

ResearchMed wrote: Sat Jul 10, 2021 8:47 am I'm starting to feel a bit like that slow-boiled frog.
At what point will we say, "Too much"?

In the past, we have made very good use of the plat card hotel benefits: per-stay credit (not a huge amount at most of the $$$ hotels, but we'll take it), and the occasional upgrade (although we've started requesting NO upgrade, as we do not, for example, want a large suite with no view, when we carefully selected a regular room with a terrific view, etc.), and especially those early check-ins and late check-outs. Those actually make a difference to us unless our schedule is too tight to take advantage of it.

Mostly, we make a LOT of use of all of our awards points, both the Amex airline network and our other card, AAdvantage CitiCard's American Airline's network. We've had quite a few really comfortable ultra long haul flights in premium international airlines. It's a different flight experience, one that we appreciate as we've aged.

However, that was before the pandemic. Now, we barely emerge from our house, so "all of the above" is pretty much in the past. For now, we are hoping things will eventually return to some semblance of normal, such that we will indeed travel again by air.

We also have a gold card, so IF we cancel the plat, we won't lose those points.

Does anyone know whether Amex gets testy about members who cancel/downgrade plat cards and then want to get one again later? Do they "fail to approve" such applications, especially if one still has a gold (or green) card? After all, they'll still be getting their little cut of each purchase. And especially if they see one has a gazillion points waiting? (We can transfer those points, but we don't know in advance just which route/airline we'd likely be using, until we are planning a specific trip.)
Or are they more than happy to take the higher annual fee again?

RM
You can downgrade and upgrade around once every year, depending on your renewal date. No testiness. They’re happy to have you upgrade again to the higher annual fee.
Tingting1013
Posts: 1594
Joined: Mon Aug 24, 2020 5:44 pm

Re: Amex platinum annual fee

Post by Tingting1013 »

Can’t decide between the Morgan Stanley or the Schwab card. Has anyone opened the former? What was your experience in getting the annual fee waived?
User avatar
Harry Livermore
Posts: 1937
Joined: Thu Apr 04, 2019 5:32 am

Re: Amex platinum annual fee

Post by Harry Livermore »

I also find it amusing that folks like me pony up $550 per year for a card that ALSO charges the highest merchant fees to vendors and retailers. Seems to me that AMEX makes it coming and going.
Between my business cards and my personal cards, I run $60K+ per year through AMEX. I think they ought to be giving ME $550 per year as a thank you!
Cheers
User avatar
whodidntante
Posts: 13116
Joined: Thu Jan 21, 2016 10:11 pm
Location: outside the echo chamber

Re: Amex platinum annual fee

Post by whodidntante »

8foot7 wrote: Sat Jul 10, 2021 8:14 am I also can run a small fortune through my card without them blinking an eye.
This seems to be true of many AmEx cards and maybe AmEx in general. It's great! BoA, Chase, Penfed, and US Bank, and some smaller bank cards I have will block large transactions, at least the first time, so you have to "season" those. In a supposed travel card, that is annoying. I had US Bank block a $500 transaction at a grocery store, on a supposedly premium card! Ridiculous! I can't imagine they would be too keen when a 10k charge flies in. I can't recall AmEx declining a transaction and I've charged up to 15k in a shot.
Topic Author
bigguy8437
Posts: 404
Joined: Tue May 26, 2015 12:02 am

Re: Amex platinum annual fee

Post by bigguy8437 »

Has anyone had any success this year getting an offer for the annual fee? Last year they offered me points or a $300 statement credit. Not sure who to call or if I can do the same this year
MBB_Boy
Posts: 899
Joined: Sat May 12, 2018 4:09 pm

Re: Amex platinum annual fee

Post by MBB_Boy »

bigguy8437 wrote: Sun Aug 01, 2021 8:00 pm Has anyone had any success this year getting an offer for the annual fee? Last year they offered me points or a $300 statement credit. Not sure who to call or if I can do the same this year
I tried a week or two ago after my AF hit, no dice. So I went ahead and bought early bird on some upcoming SW flights and will cancel in a few days after using this month's Uber credit.

Haven't decided if we will sign up for the card with my spouse - it's been our least favorite card for a while. A pain to get value out of (don't pay fees on airlines and the Uber credit keeps breaking). And we have never done anything with the points except transfer them to Delta - not that is mattered after the initial bonus, because we barely spent anything on it outside of the special offers like PayPal/Home Depot credits
Average Investor
Posts: 378
Joined: Fri Jul 13, 2012 11:27 am

Re: Amex platinum annual fee

Post by Average Investor »

bigguy8437 wrote: Sun Aug 01, 2021 8:00 pm Has anyone had any success this year getting an offer for the annual fee? Last year they offered me points or a $300 statement credit. Not sure who to call or if I can do the same this year
I tried and was told no because I got it last year. Will re-evaluate next year when the new higher annual fee comes due.
Tomorrow never knows.
User avatar
ResearchMed
Posts: 16795
Joined: Fri Dec 26, 2008 10:25 pm

Re: Amex platinum annual fee

Post by ResearchMed »

Average Investor wrote: Mon Aug 02, 2021 10:26 am
bigguy8437 wrote: Sun Aug 01, 2021 8:00 pm Has anyone had any success this year getting an offer for the annual fee? Last year they offered me points or a $300 statement credit. Not sure who to call or if I can do the same this year
I tried and was told no because I got it last year. Will re-evaluate next year when the new higher annual fee comes due.
How did you get one last year?

We never even got a signup bonus, because waaay back when we got our Plat cards, there weren't any - or none that we had yet heard of.

And when I called to point that out and request <something>, no go.
I'll have DH do it next time, but are there any magic words/phrases?

RM
This signature is a placebo. You are in the control group.
Average Investor
Posts: 378
Joined: Fri Jul 13, 2012 11:27 am

Re: Amex platinum annual fee

Post by Average Investor »

ResearchMed wrote: Mon Aug 02, 2021 11:47 am
Average Investor wrote: Mon Aug 02, 2021 10:26 am
bigguy8437 wrote: Sun Aug 01, 2021 8:00 pm Has anyone had any success this year getting an offer for the annual fee? Last year they offered me points or a $300 statement credit. Not sure who to call or if I can do the same this year
I tried and was told no because I got it last year. Will re-evaluate next year when the new higher annual fee comes due.
How did you get one last year?

We never even got a signup bonus, because waaay back when we got our Plat cards, there weren't any - or none that we had yet heard of.

And when I called to point that out and request <something>, no go.
I'll have DH do it next time, but are there any magic words/phrases?

RM
https://thepointsguy.com/guide/ultimate ... on-offers/
Tomorrow never knows.
02nz
Posts: 10510
Joined: Wed Feb 21, 2018 2:17 pm

Re: Amex platinum annual fee

Post by 02nz »

ResearchMed wrote: Sat Jul 10, 2021 8:47 am Does anyone know whether Amex gets testy about members who cancel/downgrade plat cards and then want to get one again later? Do they "fail to approve" such applications, especially if one still has a gold (or green) card? After all, they'll still be getting their little cut of each purchase. And especially if they see one has a gazillion points waiting? (We can transfer those points, but we don't know in advance just which route/airline we'd likely be using, until we are planning a specific trip.)
Or are they more than happy to take the higher annual fee again?

RM
You can upgrade again later, but usually you will not get a bonus. There are sometimes bonuses for product changes, but I've mostly seen them for Hilton cards. I don't believe I've seen them for upgrading a personal gold card to platinum.

For new account bonuses, there's typically a limit of one per customer, lifetime. However, they count the Schwab and other flavors of the personal platinum card as separate products, so you can get a bonus once for each of those cards.

For business platinum cards, Amex has been going bananas with new account bonuses, and there's no lifetime limit. I won't say how many I've gotten this year. :happy
afan
Posts: 8195
Joined: Sun Jul 25, 2010 4:01 pm

Re: Amex platinum annual fee

Post by afan »

Harry Livermore wrote: Sat Jul 10, 2021 11:02 am I also find it amusing that folks like me pony up $550 per year for a card that ALSO charges the highest merchant fees to vendors and retailers. Seems to me that AMEX makes it coming and going.
Between my business cards and my personal cards, I run $60K+ per year through AMEX. I think they ought to be giving ME $550 per year as a thank you!
Cheers
Buy AMEX stock?
We don't know how to beat the market on a risk-adjusted basis, and we don't know anyone that does know either | --Swedroe | We assume that markets are efficient, that prices are right | --Fama
Post Reply