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60,000 POINTS BONUS: If you cancel Platinum, the Amex Rewards Card will keep your points alive

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Until 25th October 2022, there is an exceptionally generous sign-up bonus on The Platinum Card. You will receive 60,000 Membership Rewards points – double the usual amount – and £200 to spend at Amex Travel. You need to spend £6,000 within six months to earn the bonus. You can apply here.

American Express is currently running a ‘it won’t get any better’ limited time bonus of 60,000 Membership Rewards points when you take out The Platinum Card.

This would convert into 60,000 Avios or lots of other great travel rewards.

Our main article on the Platinum 60,000 points offer is here. Last week we looked at:

Today I want to look at how you can keep your 60,000 Membership Rewards points bonus intact even if you choose to cancel The Platinum Card.

You can apply for The Platinum Card here.

If you cancel Amex Platinum, Amex Rewards will keep your points alive

The Platinum Card comes with a lot of impressive benefits, as well as (for a limited period), 60,000 Membership Rewards points for spending £6,000 in six months.

The benefits include:

  • travel insurance for you and your family, plus up to five supplementary cardholders and their families
  • car hire insurance
  • 2 x Priority Pass airport lounge access cards, each of which allows a free guest on each visit (so a family of four is covered)
  • mid-tier status in Hilton Honors (Gold), Marriott Bonvoy (Gold), Radisson Rewards (Gold) and MeliaRewards (Gold)
  • £10 per month of Addison Lee taxi credit
  • £100 per year of Harvey Nichols credit, valid instore or online
  • Eurostar lounge access

…… and lots of other bits and bobs.

But there’s a snag …..

Paying almost £50 per month for these benefits works out well for many readers.  However, once you have triggered the 60,000 bonus points, you may find that you are not justifying the fee, especially if your travel has not picked up.

The good news is that, if you cancel The Platinum Card, you receive a pro-rata fee refund.

(One caveat: if you cancel, you will have no travel insurance if you have no other cover.  If you have non-refundable trips booked for the future, ensure you buy alternative coverage as soon as you cancel as, of course, you could fall ill at any time.)

The only risk is losing your Membership Rewards points

The only short-term downside of cancelling your American Express Platinum charge card is that you are required to empty out your Membership Rewards points account.

Because Amex points can be transferred to many different airline and hotel partners, they are more valuable than airline or hotel points.  You shouldn’t convert them until you need them. The flexibility is worth having.

If you are forced to transfer them because you close your card down, you may regret it later.  American Express isn’t going bankrupt or devaluing its points any time soon.  The safest place for your points, and the place that gives you the most flexibility in the future, is with American Express.

Since late 2017, there has been a solution that:

  • lets you keep your Membership Rewards points account open, and
  • allows you to stop paying an annual fee for either the Gold credit or Platinum charge card

We very rarely write about it on HfP so I thought I would run through it again today.  This card is the answer:

You can apply for the little-known American Express Rewards Credit CardFull details are here.

This card has NO ANNUAL FEE and lets you collect Membership Rewards points. If you apply for this card before you cancel The Platinum Card, it will allow you to keep your 60,000+ Membership Rewards points with no pressure to transfer them.

For simplicity, I will occasionally refer to this card as ARCC as ‘American Express Rewards Credit Card’ is a  bit of a mouthful.

What is the American Express Rewards Credit Card?

ARCC is a standard Amex-branded credit card.  It has no annual fee and no substantial benefits, except for the ability to collect Membership Rewards points at 1 point per £1 spent.

ARCC has a 10,000 Membership Rewards points bonus and a representative APR of 24.7% variable (click here).   You need to spend £2,000 within three months to receive the bonus.

It is unlikely that many (any?!) Head for Points readers will qualify for the bonus because you cannot have held any personal American Express card in the previous 24 months.  That’s not why you’re applying though.

Once your American Express Rewards Credit Card is active, you can cancel your Platinum charge card in the knowledge that your Membership Rewards points balance is safe.

You will be saving roughly £50 per month on your Platinum card.  If you find that your travelling starts to pick up, you can re-apply for The Platinum Card and start getting all the insurance, lounge and status benefits again.

You can apply for the free American Express Rewards Credit Card here.

If you want to learn more about the 60,000 points bonus on The Platinum Card, our core article on the deal is here. You can apply for The Platinum Card here.

Disclaimer: Head for Points is a journalistic website. Nothing here should be construed as financial advice, and it is your own responsibly to ensure that any product is right for your circumstances. Recommendations are based primarily on the ability to earn miles and points. The site discusses products offered by lenders but is not a lender itself. Robert Burgess, trading as Head for Points, is regulated and authorised by the Financial Conduct Authority to act as an independent credit broker.

Comments (25)

This article is closed to new comments. Feel free to ask your question in the HfP forums.

  • Zain says:

    A bit O/T but I remember Amex rolled out metal cards for Gold across Scandinavia back in 2020. Is that expected to happen anytime soon over here or is that just wishful thinking?

    • Rob says:

      Probably not coming for a while. They just changed the card design to the metal one – but still making it in plastic!

  • SammyJ says:

    How the heck do you cut up your metal Platinum card? I’ve got 4 to destroy – scissors don’t even scratch it!

    • MT says:

      Haha, I was thinking the same, I wonder what people do. I may have to buy a welding kit!

      • Wally1976 says:

        Speak to Amex on the chat and they will give you a freepost address you can send them to

        • Rachael says:

          I have called x2 times for the disposal pack and it has never arrived.

        • SammyJ says:

          I did ask them on live chat, and was told that I just had to cut the chip, which didn’t really explain much! They didn’t offer to post anything. I’ll probably just keep them, they might be worth something one day!!

  • Rachael says:

    So can my son apply for an ARCC card, cancel his Platinum card , and still receive the bonus he is expecting for referring me ?

    • Rob says:

      He got the bonus the day you are accepted. If it is not already there, it didn’t track somehow (not unusual these days).

  • Thywillbedone says:

    Does holding the ARCC disqualify you from bonuses on other card signups (i.e. from the same AMEX family)?

  • yorkieflyer says:

    Nectar 3k supp bonus not posted yet for either of us, its been two weeks, sigh

    • Lee says:

      Auto credit is the past, you would have to chase after 3 months now

  • Mikeact says:

    Travel Insurance maximum age under 70. Totally and utterly ridiculous this day and age.
    Are we all living longer or not ?

    • Rob says:

      It was 80 (Bus Plat remains 80) but was reduced as a cost cutting measure.

      That said, the list of excluded preconditions (ie pretty much everything) would make it tricky for many 70-80 year olds anyway. Technically even taking statins neutralises the insurance.

      • Mikeact says:

        Basically, fit and healthy business travellers are fine up to 80, the rest of us fit and healthy travellers are only good for 70.
        And fortunately it’s not that difficult to beat Amex hands down with decent travel Insurance. For an expensive annual card I still maintain that 70 is way out of line.

  • C says:

    Can you still get a referral bonus for referring someone for the ARCC? I have done previously, but have recently seen something in the wording of the referral bonus terms that said a referral bonus cannot be awarded for the ‘basic card’. Is the ‘basic card’ something else, or this one?

  • Bob says:

    I only have a Gold AMEX, can I refer a friend for the Platinum using the Gold AMEX or does the referrer have to be a Platinum card holder? Thanks in advance.

This article is closed to new comments. Feel free to ask your question in the HfP forums.

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