Breaking Down AMEX Retention Offers: Are They Worth It?

[helloworld]

Many of us face a tough decision when the annual fee comes around, but understanding the available retention offers can help you make a more informed choice.

Would like to share some insights into American Express Gold Charge Card retention offers and how they affect your net rewards after considering the card’s annual fee.

Normal reward rate:

		18k/24k Collection
Welcome Gift (Spend 5k in 90days)	4000 MR	-
Referral Benefit (Spend 5k in 90days)	2000 MR	-
Regular Reward (Incl. Fuel and Utility)	1 MR/50	0.33 - 0.58 (Amzn - Taj)
Milestone benefits (6 transactions of 1000 each in a calendar month)	1000 MR	-
Spend 72000 in a year (6000x12)
Reward Rate	Regular 1x purchases (1440 MR + 12000 MR = 13440 MR)	6.16% - 10.83%
	Reward Multiplier 5x purchases (7200 MR + 12000 MR = 19200 MR)	8.8% - 15.47%
Net Reward Rate for 1st Year 1180 (JF) + 72000 (Spends)	4000 MR + 2000 MR + (13440 MR to 19200 MR)	8.76% - 19.97%

---

Problem: Above returns drastically changes based on retention offer because there is no annual fee waiver based on spend amount in Gold charge.

- If the fee waived full, then above are your return rate on this card.

Note: If accumulation takes multiple years then multiple retention offers needs to be considered.

---

Here are a few sample retention offers I’ve come across (these may vary based on individual spending, card usage, and your association with AMEX):

1. Pay Full Fee (5310) and get 10000 MR (Net Return*: 9.4% - 20.96%)
   1. You’ll pay the full annual fee, but the 10,000 MR points offer gives you a significant return, especially if you can redeem them for high-value rewards in the Gold collection.
2. Pay Half Fee (2655) (Net Return*: 7.34% - 17.42%)
   1. If you're offered the option to pay a reduced fee, your net return will depend on how much value you extract from the MR points. Even with half the fee, your rewards rate can still be strong.
3. Full Fee Reversal on 1.5L spend in next 3M (Net Return*: 4.22% - 12.05%)
   1. This offer is great if you're planning on spending ₹1.5L or more in the next 3 months. Essentially, you’ll get the fee waived if you meet the spend requirement, which can result in significant savings and rewards.

---

How Are Net Rewards Calculated?:​

The actual net reward rate you get from these retention offers depends on:

• Your total spending (first year + second year spends)
• Retention offer value (MR points, partial fee waiver, or full fee waiver)
• MR redemption value (whether you redeem for low-value rewards or premium rewards)

Retention offers can significantly reduce the impact of the AMEX Gold Charge annual fee and, in some cases, give you a net positive return in terms of rewards. However, it’s important to consider your spending habits and the type of rewards you typically redeem.

Has anyone else received a similar or different retention offer for their AMEX card?

 

[vaibhav111vaibhav111 is verified member.]

Wow that's low. How did you arrive at this figure? Please share. I too have to do the same in a week.

I asked OP and he gave me this figure and said 75% without taxes so 1125 + taxes he said not including gst my bad on that part I checked and it 1125 + taxes.

 

[Dhruvit.SDhruvit.S is verified member.]

One of the executive gave me this offer when my mrcc was offered 75% off. I took relevant screenshots and then they had to honour it. Other executive too told me we have never offered before.

 

[supperman]

Only getting these options -
1. 10K points on paying the full amount
2. 50% waiver alongwith GST
3. Full waiver on spending 1.5L within 90 days.

Possible to hold out for something better, or this is as good as it'll get?

 

[vaibhav111vaibhav111 is verified member.]

Only getting these options -
1. 10K points on paying the full amount
2. 50% waiver alongwith GST
3. Full waiver on spending 1.5L within 90 days.

Possible to hold out for something better, or this is as good as it'll get?

This is standard retention offer.

 

[supperman]

This is standard retention offer.

Are they likely to offer anything better?

 

[Nagarjun P S]

Only getting these options -
1. 10K points on paying the full amount
2. 50% waiver alongwith GST
3. Full waiver on spending 1.5L within 90 days.

Possible to hold out for something better, or this is as good as it'll get?

What was your annual spends on this card?

 

[vaibhav111vaibhav111 is verified member.]

Are they likely to offer anything better?

Even with good spend amex cs offer this to their customer even many have took 1st option too so you can try to negotiate further or cancel and re apply after 6 month. Only one individual managed to get 1125 + taxes. And that wasn't easy either.

 

[Nagarjun P S]

Will spends of 3 lakh+ be able to get you full fee waiver?

 

[vaibhav111vaibhav111 is verified member.]

Will spends of 3 lakh+ be able to get you full fee waiver?

Nope.. how come with 3 lakhs amount for fees wavier? If you have plantium charge or 3 amex cc with gold spend on all of them then may be. Do notice earlier with 4 lakhs or more amex used to reversed gold charges fees. My dad have gold charged from 2014 and he paid fees this year so in 8 year of his gold charge. Amex charges fees and with one call with amex reversal the fees. This year amount the same but 10k Mr point against 5310 fees.

 

[Nagarjun P S]

Nope.. how come with 3 lakhs amount for fees wavier? If you have plantium charge or 3 amex cc with gold spend on all of them then may be. Do notice earlier with 4 lakhs or more amex used to reversed gold charges fees. My dad have gold charged from 2014 and he paid fees this year so in 8 year of his gold charge. Amex charges fees and with one call with amex reversal the fees. This year amount the same but 10k Mr point against 5310 fees.

I read in some posts that few were offered 12.5k points for the renewal fee, is that not being offered anymore?

 

[coolguy1]

I read in some posts that few were offered 12.5k points for the renewal fee, is that not being offered anymore?

That must have been a very old post. Since last year or so, 10K is the max they've been offering.

 

[supperman]

Even with good spend amex cs offer this to their customer even many have took 1st option too so you can try to negotiate further or cancel and re apply after 6 month. Only one individual managed to get 1125 + taxes. And that wasn't easy either.

I wonder what's the better offer here, the points, or the flat reduction...I guess points for full payment gives a better return, assuming redemption against 18K/24K collection. Not by much, but maybe better than 50% off.

 

[helloworld]

I wonder what's the better offer here, the points, or the flat reduction...I guess points for full payment gives a better return, assuming redemption against 18K/24K collection. Not by much, but maybe better than 50% off.

some notes exclude redemption part:

- every year amex gives 10k points for 4k Rs. everyone.

with this in mind, they're saying 10k points for 5.3k Rs. (+1.3k increase).

- 50% waiver = 2.6k Rs. fee (then its like mid level premium card like regalia range, so expecting lounge with some TnCs, high reward earning options etc. not 6x1000)

- Spend 1.5L and waived off 5.3K Rs. fee. Well this is subjective on whether you spend or not but its just 3.5% reward rate on something non-purchase item.

So, best offer so far is 75% reduction but otherwise all others its mostly common with 50% waiver.

 

[Nagarjun P S]

I wonder what's the better offer here, the points, or the flat reduction...I guess points for full payment gives a better return, assuming redemption against 18K/24K collection. Not by much, but maybe better than 50% off.

I feel the points for the fee is better as you'll get roughly 3900rs for 10k points, which reduces the effective renewal fee to 1410 (5310-3900). With the 50% waiver you'll end up paying 2655 without any points.

 

[supperman]

So, best offer so far is 75% reduction but otherwise all others its mostly common with 50% waiver.

Yes, that appears to be the case. They won't budge. It's not the best, but I think Gold Charge still works for me, and I'd like to keep it, they aren't making it easier, though. I wish they'd tack on a decent benefit to the card, besides what's already there.

 

[helloworld]

Yes, that appears to be the case. They won't budge. It's not the best, but I think Gold Charge still works for me, and I'd like to keep it, they aren't making it easier, though. I wish they'd tack on a decent benefit to the card, besides what's already there.

any particular reason to keep this card by paying atleast 2.5k fee?

I believe looking for reasons beyond 6x1000 because that is less value compared to the fee we paid. Share your thoughts and approach, if possible.

 

[codenerd]

Spent 2.1 Lakhs on my gold charge card and have been an amex customer since last 3 years (smart earn card).
Got levied 5310 today! Time to see if they will retain me as a customer or not.
Will talk to them tomorrow. Will update with the offers I receive.
BUT
No way in hell I am gonna pay that hefty 5310 rupee for an average card which is only good for flaunting which ultimately has zero lounge/movie benefit.
A thousand times I would pay 900 (GST component) for AU Zenith + instead of this overhyped card. I dont really see any benefit apart from 6*1000 monthly spend which gets me close to 1120 MRs monthly.

 

[codenerd]

Spent 2.1 Lakhs on my gold charge card and have been an amex customer since last 3 years (smart earn card).
Got levied 5310 today! Time to see if they will retain me as a customer or not.
Will talk to them tomorrow. Will update with the offers I receive.
BUT
No way in hell I am gonna pay that hefty 5310 rupee for an average card which is only good for flaunting which ultimately has zero lounge/movie benefit.
A thousand times I would pay 900 (GST component) for AU Zenith + instead of this overhyped card. I dont really see any benefit apart from 6*1000 monthly spend which gets me close to 1120 MRs monthly.

No point! Got the same standard offers after 15 mins discussion. They are very stringent about the card fees and 50% discount is the max they can offer. No way in hell I will renew this substandard card just for the sake of avg MR points that almost can get easily on even MRCC.

So....
Gold Charge Card will be the first credit card in my life that I will be closing! Maybe 6 months later I will use someone's referral in family and apply again if I am allowed to.

Hopefully applying for AU Zenith +

 

[helloworld]

No point! Got the same standard offers after 15 mins discussion. They are very stringent about the card fees and 50% discount is the max they can offer. No way in hell I will renew this substandard card just for the sake of avg MR points that almost can get easily on even MRCC.

So....
Gold Charge Card will be the first credit card in my life that I will be closing! Maybe 6 months later I will use someone's referral in family and apply again if I am allowed to.

Hopefully applying for AU Zenith +

will they reverse the fee if we close after fee billed to our account?

 

[codenerd]

will they reverse the fee if we close after fee billed to our account?

In my case, the charge is billed but I don't have any outstanding dues. My bill is due on 5th Feb. Amex told me if I want to cancel my renewal, I have to do it before 5th. I wont be charged anything.