When to cancel Platinum charge card?

[mgv]

Hi all,

Last May I signed up for the Platinum charge card to get the signup bonus. It’s been nice so far, but in the long term I think it isn’t worth ~£48/month. I’m looking for thoughts on the ideal time to cancel. So far I’ve used:
* 2022 london dining offer
* 2022 & 2023 abroad dining offer
* 13x lounge entries (LGW, LTN, SIN, TFS, IST, HKG)
* 2x harvey nichols

I don’t spend on the card other than the offers above + the initial £6000 for the signup bonus.

Planning to use soon:
* 2023 london dining offer
* harvey nichols

Once these are done, I guess it’s time to cancel?
But I have at least three questions:
1. I know you lose lounge access as soon as you close the card, but I heard hotel status works differently and you keep it for the rest of the hotel year. How does this work? I haven’t used the hotel status yet, but I’d like to sign up before cancelling the card. Does anyone happen to know when the hotel years start?
2. Does Amex have any time limits on the signup bonuses / would they take away the bonus if I cancel too soon? This was the special edition ‘get 60000 points for spending £6000 in 6 months’, but not the extra-special edition ‘get 60000 points and travel credit’.
3. I’ve heard amex sometimes give counter-offers (retention offeers?) when cancelling, giving some bonus MR with some minimum spend. I’ve read these are more likely if you call to cancel vs use webchat, is there anything else I should know? For example, do I need to keep the card at least X months from opening to have a chance of an offer when calling to cancel?

I also know I have to transfer all MR points before cancelling. I have 48k right now, I think they’ll either go to avios and then nectar for £320 ebay credit, or to virgin because I already have ~50k virgin points (haven’t spent any yet, so I don’t know what value to expect from them).

[zapato1060]

You close when it’s best for you. Only you would know when you are not getting value from it. As for retention offers there’s a thread somewhere in Amex section where people put their referrals received. Definitely do that and yes take out MR where you see best, you’ll have a month to extract MR points.

The club’s you can sign up like Hilton Gold would last 12 months even after cancelling Plat.

In 13 months you can try for Plat Biz and in 24 months you’ll be able to sign up for another bonus with Plat. Good luck.

*I transferred mine to Marriott as I had a long holiday taking advantages of 4 for 5 nights in Puerto Rico when I closed my Play. At the moment using the wife’s Plat.

[PIL]

I cashed in the HN and dining offer in the first 3 days of January and cancelled the card. I was not given a retention offer (although I had a fair share of those in the past 12 months via webchat).