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

[dylarr]

Just joined Amex on the cancellation ballroom dance floor with my Qantas Ultimate American Express.

Mentioned that I'd just been charged the annual fee and wanted to see if there were any offers on my account if I kept the account open. Agent checked and said unfortunately there was not. I said I'd like to cancel the card and see if any offers show up after cancellation. I also confirmed that if I changed my mind, I could re-instate the account after the card had been cancelled on the same call. The agent confirmed so I proceeded with cancellation.

Offered 40,000 QFF points. Accepted the offer and re-instated the card.

Took no more than 5 mins.

 

[MathNerd]

Just joined Amex on the cancellation ballroom dance floor with my Qantas Ultimate American Express.

Mentioned that I'd just been charged the annual fee and wanted to see if there were any offers on my account if I kept the account open. Agent checked and said unfortunately there was not. I said I'd like to cancel the card and see if any offers show up after cancellation. I also confirmed that if I changed my mind, I could re-instate the account after the card had been cancelled on the same call. The agent confirmed so I proceeded with cancellation.

Offered 40,000 QFF points. Accepted the offer and re-instated the card.

Thanks for the data point.

When it comes to the "cancellation and re-instation" rigmarole, does anything with the card change? Or do all details (number, expiry, CVV, etc) stay the same?
I'm wondering whether it's treated as a card re-issue (which maintains the same number but expiry/CVV changes) or a card cancellation and new issue (final 4 numbers of the card number change).

 

[dylarr]

Thanks for the data point.

When it comes to the "cancellation and re-instation" rigmarole, does anything with the card change? Or do all details (number, expiry, CVV, etc) stay the same?
I'm wondering whether it's treated as a card re-issue (which maintains the same number but expiry/CVV changes) or a card cancellation and new re-issue (final 4 numbers of the card number change).

Each year I've done it everything stays the same and you can continue to use the same card.

Some years (but not all) I've had some strange things happen with Apple Pay (and equivalents) where you might need to re-add the card, or the card might go inactive for a couple of hours but everything is the same once all the systems update.

 

[MathNerd]

Each year I've done it everything stays the same and you can continue to use the same card.

Some years (but not all) I've had some strange things happen with Apple Pay (and equivalents) where you might need to re-add the card, or the card might go inactive for a couple of hours but everything is the same once all the systems update.

Ah I see. Thanks. That makes it worth it then
I wonder what goes on in the background while all this is happening - eh it doesn't matter at the end of the day anyway, points are points!

 

[dylarr]

Ah I see. Thanks. That makes it worth it then
I wonder what goes on in the background while all this is happening - eh it doesn't matter at the end of the day anyway, points are points!

That's it! It's easy enough to do. Some years I've called up and have been offered nothing after doing the dance. This year was a good one though.

I think it's just a box checking exercise for Amex to ensure they are meeting their legal obligations since they can't legally provide retention offers to credit card customers who have expressed a desire to cancel the card. But once it's cancelled...

My understanding is the laws only apply to credit card products and not charge cards, so it's much easier to get retention offers with the Platinum Charge and other charge cards as you don't need to actually cancel the card in order to receive a retention offer.

 

[MathNerd]

That's it! It's easy enough to do. Some years I've called up and have been offered nothing after doing the dance. This year was a good one though.

I think it's just a box checking exercise for Amex to ensure they are meeting their legal obligations since they can't legally provide retention offers to credit card customers who have expressed a desire to cancel the card. But once it's cancelled...

My understanding is the laws only apply to credit card products and not charge cards, so it's much easier to get retention offers with the Platinum Charge and other charge products you don't need to actually cancel the card in order to receive a retention offer.

Yup that makes sense. The new regulations are quite strict (at least that's what Amex CS says every time I ask for retention bonuses), but I'll shoot my shot for my Explorer and Platinum Edge.
Thanks again for the data point and input into the procedure!!

 

[Rich]

So they can't offer you anything not to cancel, but can to reinstate straight after cancelling? A bit of a loophole there!

 

[dylarr]

So they can't offer you anything not to cancel, but can to reinstate straight after cancelling? A bit of a loophole there!

Correct

 

[onetonnerodeo]

Are there any implications as far as credit checks/history, etc when your account is technically cancelled and then reinstated in the one call?

 

[dylarr]

Are there any implications as far as credit checks/history, etc when your account is technically cancelled and then reinstated in the one call?

No, there has never been any changes to my credit file in the years I have done this.

 

[sudoer]

Has anyone done the above with a Platinum charge card?

 

[albyd]

I think you don’t need to go through the cancel/reinstate dance with the charge card as it’s not a ‘credit’ card so not covered by the rules.

Just a matter of threatening to cancel and they’ll tell you if you’re eligible for a retention bonus.

I recall I got a healthy one the first year I was a member but none thereafter. This was back in 2015 so a lot has changed.

 

[owwreally]

I called up to try and get a retention offer by asking about cancelling the card both through the call centre and online they just offered to cancel the card for me on the spot.

(Qantas Ultimate card - $150k per year I put on it)

 

[owwreally]

Thought i'd give it a last ditch effort, spoke to the cancellation teams and asked them flat out for a retention offer or I would cancel the card. They advised that due to a change in Govt. regulation they are not allowed to provide retention offers anymore.

 

[tinkybelle]

I tried a couple of years running and they just canceled the card and its not like I don't use it!!!
I then had to put tail between legs and ask for it back!

 

[Steady]

I tried a couple of years running and they just canceled the card and its not like I don't use it!!!
I then had to put tail between legs and ask for it back!

I tried a few days ago - said I was after points - best they could offer was a different card with no annual fee.

I cancelled and will sit out the 18 months

 

[exceladdict]

I called up to try and get a retention offer by asking about cancelling the card both through the call centre and online they just offered to cancel the card for me on the spot.

(Qantas Ultimate card - $150k per year I put on it)

Thought i'd give it a last ditch effort, spoke to the cancellation teams and asked them flat out for a retention offer or I would cancel the card. They advised that due to a change in Govt. regulation they are not allowed to provide retention offers anymore.

As per others' posts, in my experience recently, you need to actually cancel it, and then ask for bonus points to 'reinstate' the card. If you're going to cancel anyway, no harm in trying this.

 

[woodyren]

Qantas Ultimate card. AF due next week. Called and asked for an offer. The consultant said there are no offers and I had to decide whether I wish to cancel or not. I asked to be put through to the cancelation team and the consultant said that I that they could only connect me if I definitely wanted to cancel. So I said that was my wish.

Cancellation team also said they can't discuss offers. They can only cancel my card.

As advised earlier I confirmed that they would stay on the phone after cancellation in case I quickly changed my mind. Cancelled card and cancellation team member offered me options of 15K points, a reduced interest rate or a no fee card.

I had no intention of cancelling and do not earn enough salary anymore (retired almost) to get any other high sign up bonus cards. I earn a lot of spend points on the card and always get value out of the flight credit.

I accepted the poor offer of 15K points.

 

[woodyren]

Thought i'd give it a last ditch effort, spoke to the cancellation teams and asked them flat out for a retention offer or I would cancel the card. They advised that due to a change in Govt. regulation they are not allowed to provide retention offers anymore.

Then tell them to cancel but also to stay on the call till the cancellation goes through. That was when they "found" my offer.

If still no offer get them to reinstate the card if you wish to retain it.

 

[owwreally]

Thanks.
Also working out if jump between offers/cards for a while.
My biggest issue is the earn rate is a lot lower with other cards or capped.
So opportunity cost of lower earn rate for 18 months.