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Hello all
I am new to this forum and in general the world of credit cards and points.
I currently hold an AMEX everyday rewards card which I have held for about 10 months now. Everything is going fine.
Now I feel like the AMEX Gold rewards card would be better for me as I travel frequently with work, however, I would like to get the welcome bonus. I know I can’t get this new welcome bonus as I am a current card holder with AMEX.
So, do I have to cancel my everyday rewards card and wait 24 months from cancellation? Before applying for the Gold card and being eligible for the welcome bonus. Also, do you lose membership status with AMEX when you cancel a card?
Thanks in advance.
Yes you do have to cancel all amex and wait 24 to get bonus again if it is the gold card you want. Based on Today’s rules which could always change.
When you say membership status what do you mean? There is no benefits as a member, all benefits are attached to the card. Your membership since year might re start, there is no concrete benefit from that as far as I can tell. If you mean the points you have built up, you do need to move those as those will be lost when the account closes. I think you get some days to move that after you cancel but I would move them, wait to confirmed they have arrived then close account.
If you think you would benefit today from the gold card, have you done the math to confirm it is worth missing out on 2 years of benefits to wait for the gold card SUB.
You do qualify for the BAPP bonus (assuming not held a BA card in the last 24 months). If you open the BAPP and close your current card in 24 months you will qualify for the Plat bonus (based on today’s rules). But unfortunately not the gold if that is what you really want.
You’re only missing out on the 20k intro bonus for spending 3k in 3 months. You’ll still get all the other value from the card free for the 1st year. So worth working out if it’s worth waiting 2 years to get 20k amex points worth betweem £100-200.
Or, you could apply for platinum card get all the subs and dinning credits then downgrade to gold after 6 months.
Or, you could apply for platinum card get all the subs and dinning credits then downgrade to gold after 6 months.
OP says they have the everyday rewards card, which one is that? If it is the cashback everyday card then yes this is a good idea.
If it is a membership point earning one (amex rewards card – this used to be transparent plastic card) then this won’t work. Sorry OP used a name that doesn’t exist in the UK. In the US amex has a everyday reward card which is a MR earning card.
I think everyday rewards pays out once a year. You should keep it until the 12 months is up and you are paid out. Then cancel.
If you’re interested in membership rewards and travel benefits, I’d consider applying now for the Platinum card. It’s expensive, but you get a decent sign up bonus. After a few months (perhaps directly after your next trip abroad) downgrade to gold. You will get a pro-rated refund of the annual fee.
I think everyday rewards pays out once a year. You should keep it until the 12 months is up and you are paid out. Then cancel.
If you’re interested in membership rewards and travel benefits, I’d consider applying now for the Platinum card. It’s expensive, but you get a decent sign up bonus. After a few months (perhaps directly after your next trip abroad) downgrade to gold. You will get a pro-rated refund of the annual fee.
I disagree with this advice, if OP does qualify. The sign up bonus is currently only 20k points. Previously if I am right has been as high as 40 or 60k. Also closer to July would get the Harvey Nicks credit twice. OP should consider waiting for an uplift in bonus.
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