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Seeking views from the collective expertise of this hobbyist group.
I have a Platinum which renews next June. I have received the 65k sign up bonus, used both dining credits and the HN credit x 2 for 2023. I still have the £200 travel credit to use. I won’t require the car rental insurance anymore after November (A separate policy would be c£120). I have little use for the hotel status/PP.
Is it worth me continuing to keep the Plat, or shall I switch to the Gold/BAPP for better point earn for daily spend? If I cancel, I’ll get roughly the same amount for a fee refund as potential spend credit I would receive in H1 2024 (2 x dining + 1x HN). So seems like I’m better off with cash in my pocket rather than being restricted by where I can use the Amex credit, and getting a different card with better points earn potential.
Am I missing anything?
Everybody will have a different perception of “worth keeping” I suspect.
But if you can make use of your new 2024 set of “2 x dining credits + £50 HN” before the end of Feb (even if just gift cards) you could still get a pro-rata refund of the remainder of your current card year.
Amex might even offer you a retention bonus as well (35K/50K MR seems typical) if you call/chat to cancel well before the pro-rata refunds deadline.
That combo could potentially work best for you financially.I must be Amex’s dream. I shop at HN for gifts, regularly eat at branches of The Ivy and wouldn’t dream of staying in a non-chain hotel. I’m what JDB would call gauche. So the Amex Plat pays for itself every year without any convoluted cognitive gumnastics to justify its fee.
I think Amex are really pushing the pricing given the benefits.
I kind of think Mrs Froggee should cancel hers but she kind of likes having it.
I think either yay or nay is equally correct so why don’t you let Amex decide.
Phone them to cancel and if they accept then cancel. If they wish to retain you with a retention bonus then the honourable thing to do would be to keep the card into 2024.
I must be Amex’s dream. I shop at HN for gifts, regularly eat at branches of The Ivy and wouldn’t dream of staying in a non-chain hotel. I’m what JDB would call gauche. So the Amex Plat pays for itself every year without any convoluted cognitive gumnastics to justify its fee.
I’m exactly the same. I “accidentally” spent my overseas dining credit having afternoon tea at Raffles in Singapore, so that was a nice surprise when I got an email after I paid, saying I had used my credit. So I personally attribute £300 to the dining credits and £100 to HN credit, as it’s £400 I would have spent anyway. So that’s only £250 of extra fees I need to justify – which I can do from the insurance, Hilton gold and other bits and bobs like the Priority Pass and Eurostar lounge. And I do like a metal card too.
Good suggestions, thanks, I think I’ll keep it until Feb at least, I wouldn’t be cancelling until Dec anyway, so effectively spending c£150 for £350 of benefit. They if they give me a tasty retention I’ll do the honourable thing.
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