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Currently going through a review of our Amex strategy and interested in thoughts from the forum. Me and P2 have both been through a full cycle of Amex Gold, Upgrade to Plat, Amex BAPP and Barclays Avios+. We have obtained all the sign up bonuses from these cards and have cancelled some of them. No interest in Virgin cards/points as don’t want more complexity and we wouldn’t get much use based on the Virgin network.
I’ve accumulated a substantial pot of Avios and think this will be sufficient for at least the next 2 years (also have a 241), I have zero Amex MRP as moved them all to Avios before going cold turkey with Amex points cards. P2 also has a decent Avios pot and one 241 voucher (enough Avios to make use of this), plus a substantial amount of Amex MRP as her Amex platinum is still active for now.
I currently just have the BAPP (using Chase for non-Amex spend) so that I can go through the Amex points/Barclays sign-ups again in 2 years whilst continuing to get more Avios and 241s in the meantime. P2 still has the Barclays Avios+ and the Amex platinum. P2 has the option to downgrade the Barclays Avios+ to regular Barclays once the spend target is hit so she still has a credit card in her own name.
My main question is what to do with P2’s Amex platinum ahead of the end of pro-rata refunds. I’m deciding between:
1. P2 asks for a downgrade to the Amex Gold (which I believe should get a free first year) to avoid the annual fee on the Platinum as it just doesn’t give us enough value to justify it – this would allow us to keep the more flexible Amex MR points alive but have the downside of making P2 ineligible for future Amex Platinum sign-up bonuses which can be substantial.
2. P2 goes cold turkey and cancels the Amex Platinum and uses the Amex MR points for something (most likely transfer to Avios but any other better ideas welcome). This would allow P2 to be eligible for future sign-up bonuses on the Amex platinum but it means we would not have any Amex MR points which of course can be useful if ever needed for things like Eurostar or other frequent flyer schemes. It would also of course leave us collectively more exposed to Avios devaluation.I’m probably leaning towards option 2 but interested in what others would do in this situation (or any other options I may have missed).
Amazing post and detail, I’m in the same position. I’m thinking of cancelling, wasting abit of time then getting the next sign up bonus to reset the whole strategy. Bapp just launched a 60k sign up bonus
The problem with cancelling everything and waiting for 2 years is you are relying on amex to not reject future applications. Given the tightening we have seen recently – putting up income requirements, ignoring household income, rejecting those with high credit limits, strictly checking income etc, its a risky option.
The problem with cancelling everything and waiting for 2 years is you are relying on amex to not reject future applications. Given the tightening we have seen recently – putting up income requirements, ignoring household income, rejecting those with high credit limits, strictly checking income etc, its a risky option.
Appreciate this is a risk but I’m not too concerned with these changes. We are both mid-30’s, are regular full-time employees with good incomes and can easily manage credit limits downwards ahead of time (the fact we will have cancelled so many cards will mean the limits we have are sensible in any case). I think the bigger risk is we are rejected as they can see we previously signed-up and cancelled, or there is a further tightening of Amex policy over the coming years around sign-up bonuses (e.g. only one lifetime, no bonuses if you have any Amex already, etc.)
Mid-30s? what are you doing on Hfp?
Mid-30s? what are you doing on Hfp?
Early to mid 30’s is effectively the HfP reader sweet spot based on reader surveys. It just doesn’t feel like that if you come to your parties because the skew is about five years younger.
Once you get beyond mid-30s then you’re into kids territory and the whole game gets trickier. Not impossible, of course, just trickier.
Sorry for looking to bump this…but wondered if anyone else had any thoughts.
If it helps, P2 has 50k avios (no 241 as we used hers) and 150k as Amex points. As I mentioned, I have plenty of avios and 241s for the next 2 years of travel plans.
Whilst we don’t feel p2 really needs more avios currently, the only other options we’d consider redeeming Amex points for are other airline schemes (unlikely given we don’t have points in any of them currently) and Eurostar.
Feeling is even in a worst case could always cash out avios to nectar and use at Sainsbury’s, argos or eBay. So it’s only really losing the option to get last minute/busy times Eurostar tickets at a good price. 150k amex points would give about 1k of cash value at Argos so figured could use it for a new phone when the time came if we did end up with way too many avios.
Don’t feel much need to keep an Amex for any other reason as have found the card offers to be limited recently and the airport lounge access isn’t very useable in UK/Europe (plus can use avios to book club Europe anyway if we are that bothered about it).
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