Platinum hotel credit – cancel and rebook question

[AmandaB]

I booked 4 nights via Amex Travel and immediately got the £200 credit applied. The booking is refundable. The price for the exact booking is now £150 cheaper via the Amex Fine Hotels link.
My question is, if I cancel and immediately rebook at the lower price what happens about the credit? Original booking was made before Christmas.
Alternatively, if I call the concierge line will they adjust the booking to the lower price?
TIA for answers.

[Rob]

The credit is lost. This is clearly stated in the rules.