Amex "I'm going to cancel my card" - bonus points given thread.

[lepetitprince]

You can try, but you are getting $600 more value than many other Plat cardholders.

I would imagine Amex is less likely to want to retain your business unless you're putting good spend through the card. It also seems to be less than ideal timing - the retention offers aren't as juicy as they were a couple of years ago.

Thanks mate, yes, don't want to be too greedy! I usually rake in >100K (personal card) a year, but I am not a card churner - have had the same set of cards for 15 years now! more like lazy!

 

[TheRealTMA]

I have been with Amex since 2007, Plat Charge since 2009 - have never rung them threatening to cancel, nor they offered me an atta boy! Not sure if I should even bother calling them.... Shouldn't their AI algorithm pick up staunch loyalists (and those that have never 'threatened' to cancel) and reward them?!

I did manage to move all my points to KF before the devaluation, then got 8 return tickets for tavel between now and next March (6 Y, 3 J) - so not exactly complaining!

$1250 annual fee ($200 less for professional association)
- $450 travel credit
- $400 travel credit (via plat reserve)
- $399 ALL hotel room
- Priority pass + Centurion lounge access (Free)

So literally, I get the card for $50 a year!

As I said, can't complain.

lol. It’s like car insurance so it’s a loyalty penalty not a loyalty reward If you don’t complain.

 

[DC3]

I have been with Amex since 2007, Plat Charge since 2009 - have never rung them threatening to cancel, nor they offered me an atta boy! Not sure if I should even bother calling them....

What’s the worst that could happen? Computer says ‘No’?

 

[sudoer]

lol. It’s like car insurance so it’s a loyalty penalty not a loyalty reward If you don’t complain.

Same applies to so many products now - mortgages, electricity/gas, health insurance, etc. All the competitive deals exist just to attract new customers, and in some cases reduce churn when they know they have a customer serious about leaving.

Called up my private health insurer last month. Their pricing was fine, but other insurers were giving 8 weeks free for new customers with no waiting period. Incumbent insurer matched the 8 weeks to keep me .. actual cash saving of $700 or so.

 

[Jacques Vert]

Shouldn't their AI algorithm pick up staunch loyalists (and those that have never 'threatened' to cancel) and reward them?!

Why? Their algorithum is more likely to pick up the fact that you will stay loyal to them no matter what they do. They don't need to offer incentives to "lazy money". Just saying.

Post automatically merged: May 28, 2024

Called up my private health insurer last month. Their pricing was fine, but other insurers were giving 8 weeks free for new customers with no waiting period. Incumbent insurer matched the 8 weeks to keep me .. actual cash saving of $700 or so.

Brillant! I'll have to give this one ago.

 

[Bell21]

I have been with Amex since 2007, Plat Charge since 2009 - have never rung them threatening to cancel, nor they offered me an atta boy! Not sure if I should even bother calling them.... Shouldn't their AI algorithm pick up staunch loyalists (and those that have never 'threatened' to cancel) and reward them?!

I did manage to move all my points to KF before the devaluation, then got 8 return tickets for tavel between now and next March (6 Y, 3 J) - so not exactly complaining!

$1250 annual fee ($200 less for professional association)
- $450 travel credit
- $400 travel credit (via plat reserve)
- $399 ALL hotel room
- Priority pass + Centurion lounge access (Free)

So literally, I get the card for $50 a year!

As I said, can't complain.

plus: $400 restaurant credit ($200 locally), $120 Amazon Prime credit, etc

 

[zig]

plus: $400 restaurant credit ($200 locally), $120 Amazon Prime credit, etc

Amazon Prime credit is up to $84, not $120.

 

[sudoer]

$400 restaurant credit ($200 locally)

No confirmation this extends past December

 

[Ktan89]

Amazon Prime credit is up to $84, not $120.

Question.. prime membership is $79 a year right? What are others doing with the $5? Why did amex do $84?

 

[sudoer]

Why did amex do $84?

When the benefit was launched, Amazon Prime was $7/month for those on non-annual plans = $84 annually

Amazon's "Prime" membership price jumps from $6.99 to $9.99 in Australia

In what is the first change in price since Amazon launched Prime in Australia five years ago, members of the subscription shopping and entertainment

eftm.com

 

[Ktan89]

When the benefit was launched, Amazon Prime was $7/month for those on non-annual plans = $84 annually

Amazon's "Prime" membership price jumps from $6.99 to $9.99 in Australia

In what is the first change in price since Amazon launched Prime in Australia five years ago, members of the subscription shopping and entertainment

eftm.com

Ahhh thanks. I've been wondering this

 

[muppet]

I have been with Amex since 2007, Plat Charge since 2009 - have never rung them threatening to cancel, nor they offered me an atta boy! Not sure if I should even bother calling them.... Shouldn't their AI algorithm pick up staunch loyalists (and those that have never 'threatened' to cancel) and reward them?!

I did manage to move all my points to KF before the devaluation, then got 8 return tickets for tavel between now and next March (6 Y, 3 J) - so not exactly complaining!

$1250 annual fee ($200 less for professional association)
- $450 travel credit
- $400 travel credit (via plat reserve)
- $399 ALL hotel room
- Priority pass + Centurion lounge access (Free)

So literally, I get the card for $50 a year!

As I said, can't complain.

There’s a bit of a mayo on the value of the Accor Plus free night - I value it as $200 max (not denying you couldn’t find that value somewhere, just not easy).

 

[ChrisFlyer]

You can try, but you are getting $600 more value than many other Plat cardholders.

I would imagine Amex is less likely to want to retain your business unless you're putting good spend through the card. It also seems to be less than ideal timing - the retention offers aren't as juicy as they were a couple of years ago.

I have this set up, and last time I was considering cancelling, the rep literally said this is why they couldn't offer a retention bonus (being grandfathered on an annual fee discount and with the Reserve having the travel credit). Can't say that's not fair.

 

[lepetitprince]

There’s a bit of a mayo on the value of the Accor Plus free night - I value it as $200 max (not denying you couldn’t find that value somewhere, just not easy).

Well muppet, your post has certainly made me ponder with existential musings - what is the 'value' of anything really?!

 

[rfc4eva]

You can't. I think there's a 30 day grace period for Amex annual fees - you can cancel the card within 30 days of the AF posting, and get the fee refunded.

You're better off waiting until your AF is approaching this year and having the conversation then.

What if theyve given you points to stay,I received some but i'm refinancing and broker has need I need to lose the card.Will they ask for the points back?

 

[Bell21]

plus: $400 restaurant credit ($200 locally), $120 Amazon Prime credit, etc

Whilst it's true as Sudoer says that no guarantee over extending restaurant credit and I was forgetting exact credit for Amazon Prime, my real emphasis was that there is more value to be obtained out of the card than the basic credits (eg, travel credits, accor free night) then lepetitprince described, but I didn't outline them all --- I only travel overseas intermittently, but I find that I always get as much if not more value out of the card than I pay --- YMMV --- whether it be the value of the my supps getting AMEX / Plaza Premium lounge access when they travel, the real value of the accor free night (I think $200 is being conservative given cost of eg, a night at Sydney Sofitel and the 50% off food, room upgrade, letc), and even not needing to get separate travel insurance, albeit not everyone would choose to rely on it (I'm fine with it, provided I'm 100% clear I've activated the insurance correctly)

 

[tlspambait]

Platinum Charge Card, my annual fee just posted, I called and was upfront that I wanted a retention bonus and I was aware they needed to cancel it to be able to offer one (noted to them I've been a card member for more than 25 years and when I moved to platinum I didn't receive any welcome bonuses).

My spend on the card was about (i'd guess) $125K last year.

They offered 50,000 points, which I took.

Following up on my post from last year, called again this year and got an overseas agent at first.

I noted in particular that both intl lounges in Brisbane closed last week so the inability to use them is a significant devaluation in the value of the card and asked if they would be replaced with another lounge as this was the loss of a significant benefit and asked if there was anything they could do such as either a fee reduction or offer of bonus points, i was put on hold when she talked to her supervisor and came back with no offer of points and no discount on the annual fee and no assurance of any replacement lounges in BNE.

I asked to speak to the retentions team and she told me she'd only put me through to them if I wanted to cancel so I said, go ahead and transfer me.

Once I was put through to someone in Oz, he asked if I wanted to cancel and I told him I was considering it.

I explained again that now there are no lounges in BNE intl. While amex has invested in centurion lounges in Syd and Mel (where there are other lounges that can be used) but they provide no benefit for those of us in QLD who now have no lounges in BNE Intl and it's pretty disappointing that amex hasn't either opened a lounge or made arrangements with one of the other lounges (Emirates, Air NZ, Singapore or Qantas) to ensure that we are also offered benefits similar to card members in NSW and Vic..

He seemed generally surprised that there were no lounges left that could be used in Bne (I'm pretty sure he was googling it while we talked) and without having to ask he offered 150,000 points to keep my account active, and assured me he would progress the concerns re: lack of lounges in BNE upwards to see if some other arrangement can be made.

 

[Gladstone Tim]

Mmm, does phoning up have better outcomes than chat? No offer when I said I’d be canceling, and to go ahead and do it whilst chatting online. I was put through to a different agent to process it, but no offers.

 

[lepetitprince]

Mmm, does phoning up have better outcomes than chat? No offer when I said I’d be canceling, and to go ahead and do it whilst chatting online. I was put through to a different agent to process it, but no offers.

2$ this thread has a few CSRs lurking!! Maybe they have cottoned on to the MO!

 

[DC3]

Mmm, does phoning up have better outcomes than chat? No offer when I said I’d be canceling, and to go ahead and do it whilst chatting online. I was put through to a different agent to process it, but no offers.

Oh. Computer said ‘No’.