Cancelling Amex Platinum – What perks can I keep?

[S555]

Hello Everyone- I don`t think I will be using the Amex platinum anymore and have decided I will cancel – (anniversary was around 2 weeks ago)

Before I cancel –

– I have accumulated around 150k points – is there some literature around that will tell me about the best use for those points? I am assuming I can also convert the points to money and pay off any remaining balance?

– Do the hotel and car rental perks stay for a while? When do they get cancelled? I have points on both, would i lose them?

– is there any other perks that I may sign up before cancelling?

I have a cashback card that I will keep on using to get points, as a household we normally put all our spending on the Amex card and pay off the balance each month. Should I move the points from the amex plat to the cashback card?

Thank you

[Supergers49]

Points – There is a free MRP earning card. You might want to take that out to retain points flexibility. Alternatively, transfer out to another currency you value (e.g., Avios, Virgin, etc.). Paying off your balance will be one of the worst points-per-£ uses of the points.

Hotel Benefits – Will likely be retained until the end of the current year’s for each programme.

Car Hire Benefits – Will likely be lost immediately.

Virtually all other benefits will be lost as well.

[zapato1060]

You need to learn a little bit about the game. Exchanging to pay off balance is a huge no no unless in financial hardship, I guess.

https://www.headforpoints.com/2024/10/01/what-is-the-best-use-of-amex-membership-rewards-points/

You can retain most hotel and car hire status, the priority pass will be dead as well.

[Supergers49]

zapato1060 wrote:

You can retain most hotel and car hire status

. The Hertz will day pretty much immediately as it requires the Amex Plat to be active in the account. I thought the same would apply to Avis, but less certain about that.

[FFoxSake]

S555 wrote:

Before I cancel –

Don’t forget to call / use online chat with Amex and suggest to them that you are thinking of cancelling and are there any retention offers on your account.
They will likely offer you a minimum of 35K points, maybe a lot higher. There will be no obligation to keep the card open after they have posted to your account. It costs you nothing to try. Apart from a moral eyebrow raise from Mr.X

[Caps44]

Am I correct that if I cancel my Amex Plat, if I want to be eligible for the bonus in 2 years time, I have to transfer out all my MR points, I cant hold another cheaper MR card?

[Rob]

Caps44 wrote:

Am I correct that if I cancel my Amex Plat, if I want to be eligible for the bonus in 2 years time, I have to transfer out all my MR points, I cant hold another cheaper MR card?

Correct.

[S555]

Supergers49 wrote:

Points – There is a free MRP earning card. You might want to take that out to retain points flexibility. Alternatively, transfer out to another currency you value (e.g., Avios, Virgin, etc.). Paying off your balance will be one of the worst points-per-£ uses of the points.

Hotel Benefits – Will likely be retained until the end of the current year’s for each programme.

Car Hire Benefits – Will likely be lost immediately.

Virtually all other benefits will be lost as well.

Is there a way to know when the hotel benefits reset? the only thing on my account is the joined date which was august 2023. The point would expire in January 2027.

which free Membership rewards points earning card are you referring to? is it the amex everyday cashback card?

[S555]

FFoxSake wrote:

S555 wrote:

Before I cancel –

Don’t forget to call / use online chat with Amex and suggest to them that you are thinking of cancelling and are there any retention offers on your account.
They will likely offer you a minimum of 35K points, maybe a lot higher. There will be no obligation to keep the card open after they have posted to your account. It costs you nothing to try. Apart from a moral eyebrow raise from Mr.X

I tried that but they wouldn`t give me anymore points as I already had some points in August 2024.

[S555]

Caps44 wrote:

Am I correct that if I cancel my Amex Plat, if I want to be eligible for the bonus in 2 years time, I have to transfer out all my MR points, I cant hold another cheaper MR card?

They mentioned that the points needs to be spent within 30 days otherwise they are gone.

[S555]

I`ve been offered a downgrade to https://www.americanexpress.com/en-gb/credit-cards/rewards-credit-card/ – the welcome bonus will not apply.
If I move it to this card – it is fee free and I will be able to keep my points.