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expired Posted by PeterParker13 • Jan 10, 2022
expired Posted by PeterParker13 • Jan 10, 2022

American Express Platinum retention $550 dollar credit -YMMV

American Express Giftcards
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Hi all,

I called the AMEX retention team at 1 (855) 857-7657‬
Stated that I wanted to cancel my card due to COVID and I was not traveling as much.
They offered me the below:


As you are such a valued Card Member, you can earn 55,000 Membership
Rewards® points after you spend $4,000 or more on purchases on
your Platinum Card account within 3 months of accepting this
offer. The 55,000 Membership Rewards® points will be credited to your
account 8 to 12 weeks after the purchase requirement has been met. This
is our way of saying thank you for keeping your Platinum Card account open today.


Hopefully this helps out the rest of y'all
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About the Poster
Deal Details
Community Notes
About the Poster
Hi all,

I called the AMEX retention team at 1 (855) 857-7657‬
Stated that I wanted to cancel my card due to COVID and I was not traveling as much.
They offered me the below:


As you are such a valued Card Member, you can earn 55,000 Membership
Rewards® points after you spend $4,000 or more on purchases on
your Platinum Card account within 3 months of accepting this
offer. The 55,000 Membership Rewards® points will be credited to your
account 8 to 12 weeks after the purchase requirement has been met. This
is our way of saying thank you for keeping your Platinum Card account open today.


Hopefully this helps out the rest of y'all

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139 Comments

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Jan 10, 2022
6,854 Posts
Joined Dec 2007

This comment has been rated as unhelpful by Slickdeals users.

Jan 10, 2022
817 Posts
Joined Feb 2004
Jan 10, 2022
Jaredextreme
Jan 10, 2022
817 Posts
Yeah I cancelled my platinum card last month. Didn't get to use any lounges last year because of the pandemic.
1
Jan 10, 2022
2,705 Posts
Joined May 2008
Jan 10, 2022
fjfjfj
Jan 10, 2022
2,705 Posts
Quote from ELofLA :
Lukewarm deal….better getting the annual fee waived or credited from last years.
Or even better deal just cancel your platinum card.
I totally and respectfully disagree. 55,000 AmEx points are worth between $800 and $1,100 depending upon whose valuation you use (and, of course, how you ultimately use those points). If you know what you're doing, this is much better than getting your $550 back.

For the record, I did get a $550 credit as a retention offer to my Morgan Stanley platinum card a few months back. OP's deal is considerably better in my opinion.
Last edited by fjfjfj January 9, 2022 at 06:46 PM.
2
Jan 10, 2022
1,938 Posts
Joined Mar 2004
Jan 10, 2022
rrgg
Jan 10, 2022
1,938 Posts
You said they offered this by phone. Did they also email the text you posted? It looks like a great offer to me.
Jan 10, 2022
316 Posts
Joined Jul 2016
Jan 10, 2022
sskumarsd
Jan 10, 2022
316 Posts
Quote from fjfjfj :
I totally and respectfully disagree. 55,000 AmEx points are worth between $800 and $1,100 depending upon whose valuation you use (and, of course, how you ultimately use those points). If you know what you're doing, this is much better than getting your $550 back.

For the record, I did get a $550 credit as a retention offer to my Morgan Stanley platinum card a few months back. OP's deal is considerably better in my opinion.
Hi, new to platinum. Can you provide inputs to maximize the returns for points.
3
Jan 10, 2022
1,195 Posts
Joined Jul 2006
Jan 10, 2022
PrincipalMember
Jan 10, 2022
1,195 Posts
Quote from fjfjfj :
I totally and respectfully disagree. 55,000 AmEx points are worth between $800 and $1,100 depending upon whose valuation you use (and, of course, how you ultimately use those points). If you know what you're doing, this is much better than getting your $550 back.

For the record, I did get a $550 credit as a retention offer to my Morgan Stanley platinum card a few months back. OP's deal is considerably better in my opinion.
Most of the usage that I have seen about getting higher valuation are converting to miles. A bit leery about that - seems like whenever I want to travel, the miles cannot be used.
Jan 10, 2022
695 Posts
Joined Jun 2014
Jan 10, 2022
Gidaean
Jan 10, 2022
695 Posts
I was getting ready to cancel an AMEX platinum card and then found out they just added cellphone insurance. $50 deductible, can be used up to 2x in a 12-month period if you pay the phone bill with it.

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Jan 10, 2022
1,195 Posts
Joined Jul 2006
Jan 10, 2022
PrincipalMember
Jan 10, 2022
1,195 Posts
Quote from Gidaean :
I was getting ready to cancel an AMEX platinum card and then found out they just added cellphone insurance. $50 deductible, can be used up to 2x in a 12-month period if you pay the phone bill with it.
Yeah - definitely a nice benefit. I have definitely been miking the 1st year until now.

One thing that I haven't see generally mentioned is that on some routes, Amex is able to get you a better price than going through the airline directly or even Expedia. I was able to shave off 10% on a business class ticket + received 5% points.

The other interesting side benefit was Amazon recently offering 50% off if you used membership points. I tied the card to both mine and my wife's account and we both got $160 of gift cards for $80.
Jan 10, 2022
5,928 Posts
Joined Apr 2008
Jan 10, 2022
stasis
Jan 10, 2022
5,928 Posts
Quote from PrincipalMember :
One thing that I haven't see generally mentioned is that on some routes, Amex is able to get you a better price than going through the airline directly or even Expedia. I was able to shave off 10% on a business class ticket + received 5% points.
I did exactly that. But ran into issues so I'm gonna try how good their insurance is.
Bought a roundtrip ticket for SFO-JFK-CMN thru AMEX Travel. But when AA cancelled the flight from SFO-JFK less that 24 hrs before the flight, AA simply refused to re-book thru one of their alliances. I had to call AMEX to find and book a similar flight with Alaska Airlines in which AMEX charged another $300 for an economy ticket. AMEX filed for the refund which AA gladly paid...$65!
Jan 10, 2022
469 Posts
Joined Jul 2018
Jan 10, 2022
randomer111
Jan 10, 2022
469 Posts
Got the same offer via chat a few days back, should be easy to get if your renewal is up or just recently renewed.
Jan 10, 2022
989 Posts
Joined Mar 2008
Jan 10, 2022
PETER_JACKSON
Jan 10, 2022
989 Posts
Man bummer, last month I got $400 credit statement if I spent $3000 that I accepted. Very much would've preferred 55k points.
Jan 10, 2022
4,531 Posts
Joined Jun 2008
Jan 10, 2022
AndrewinMD
Jan 10, 2022
4,531 Posts
Quote from PrincipalMember :
Yeah - definitely a nice benefit. I have definitely been miking the 1st year until now.

One thing that I haven't see generally mentioned is that on some routes, Amex is able to get you a better price than going through the airline directly or even Expedia. I was able to shave off 10% on a business class ticket + received 5% points.

The other interesting side benefit was Amazon recently offering 50% off if you used membership points. I tied the card to both mine and my wife's account and we both got $160 of gift cards for $80.
That Amazon offer is a one time bonus. After you take advantage of it, you are no longer eligible for future 50% offers, which you'll see posted to SD frequently. And it goes by account holder, not the card itself -- I used it on my Gold card but could not use it with Platinum subsequently.

Catch AMEX point redemptions when they have a bonus for your favored airline(s). They usually run a 30-40% bonus 1-2x per year that I've seen, and it rotates among the different programs. I don't see any active at the moment, however. They also have redemptions for hotel transfers and bonuses as well, but those transfers aren't as appealing to me.
1
Jan 10, 2022
3,177 Posts
Joined Sep 2010
Jan 10, 2022
ak1802
Jan 10, 2022
3,177 Posts
AMEX makes using Platinum card benefits such a hassle.

I'm contemplating cancelling and switching to Sapphire Reserve.
1
Jan 10, 2022
870 Posts
Joined Nov 2010
Jan 10, 2022
luniz97
Jan 10, 2022
870 Posts
They are clamping down from what I hear, so if you don't have decent spend, they won't extend the offer this year... Worth a try, Last year they gave me $500 off, so for $50 it was worth keeping but for $695, I will switch to the hilton aspire for $450.

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Jan 10, 2022
868 Posts
Joined May 2005
Jan 10, 2022
meranamjoker
Jan 10, 2022
868 Posts
annual fee of $695 is still more than $550 retention. If you use the perks heavily then it might be worth for you but me personally, perks are not worth the extra fee. I will keep using my BoA 2.25% cashback credit card.
1

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