Need Suggestion on Amex Plat Travel Retention Options

[Lucifer311]

My Amex Plat Travel is due for renewal next month, called customer care to close the card because I don't want to pay the renewal fee of 5000+GST.
They offered 3 options as below to retain my card account-

1. They will reduce the fee by 50 %, i need to pay 2500+GST for renew
2. They will waive the renewal fee after deducting 10000 MR points
3. I need to spend 1.5L in next 90 days & they will revert the fees i paid along with GST. I will be getting regular rewards & milestone benefit as well on that spend.

The last option I feel is better, but need suggestion from you guys.

 

[Random123]

Thanks for the thread. Had renewal in October and paid it without asking for any retention benefit. Today called after reading this thread and they offered two options - fees reduction by 50% or additional 10K points. Went with the first option.

 

[drabhishekladdha]

My Amex Plat Travel is due for renewal next month, called customer care to close the card because I don't want to pay the renewal fee of 5000+GST.
They offered 3 options as below to retain my card account-

1. They will reduce the fee by 50 %, i need to pay 2500+GST for renew
2. They will waive the renewal fee after deducting 10000 MR points
3. I need to spend 1.5L in next 90 days & they will revert the fees i paid along with GST. I will be getting regular rewards & milestone benefit as well on that spend.

The last option I feel is better, but need suggestion from you guys.

Agree , i took the last option , paid my advance tax with it ( got my biz black few weeks later ), got milestone rewards and fee with GST back ( just messge via chatbook and they will redfund fee and GST )

 

[denisjos]

A curious question, has any plat charge holder tried negotiating retention offers

 

[coolguy1]

A curious question, has any plat charge holder tried negotiating retention offers

As Plat Charge is more of a lifestyle card than a value card, the options are very limited.

Depending on your expenses in the year, they might stretch a little bit for you but don't expect anything too crazy.

 

[denisjos]

Did anyone get points for fee retention offers this year for the gold charge.

 

[sravanbrahma]

I got three options:
1) 50% off on annual fee
2) pay annual fee and get 10000 points
3) deduct 10000 points as annual fee

Unfortunate there is no fee waiver. I am thinking of cancelling the card as gyftr attracts 1% extra on AGV from next month and limitations on AGV purchase.

Please suggest.

 

[Ram1]

I got three options:
1) 50% off on annual fee
2) pay annual fee and get 10000 points
3) deduct 10000 points as annual fee

Unfortunate there is no fee waiver. I am thinking of cancelling the card as gyftr attracts 1% extra on AGV from next month and limitations on AGV purchase.

Please suggest.

Isn't 3rd option better? 10k points for 5900 fee. More 0.59 value per point.
If u can't spend 4L in a year, go for mrcc

 

[sravanbrahma]

Isn't 3rd option better? 10k points for 5900 fee. More 0.59 value per point.
If u can't spend 4L in a year, go for mrcc

I have MRCC (maxing out by NPS and AGV reaching fee waiver criteria) and Infinia as my go to. Hence I am thinking should I keep this or not.(which I generally use for jewellery purchase and insurance (AGV route).. Now AGV is charging 2% extra for insurance .. so its blocked and beginning to question this in my cards list.

My spends can be 8-15 L per year in total.

 

[helloworld]

I got three options:
1) 50% off on annual fee
2) pay annual fee and get 10000 points
3) deduct 10000 points as annual fee

Unfortunate there is no fee waiver. I am thinking of cancelling the card as gyftr attracts 1% extra on AGV from next month and limitations on AGV purchase.

Please suggest.

Thread 'Breaking Down AMEX Retention Offers: Are They Worth It?'

Jul 3, 2023

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	-

...

• helloworld
• Replies: 109
• Forum: American Express

• 

: )

 

[jk51]

I got three options:
1) 50% off on annual fee
2) pay annual fee and get 10000 points
3) deduct 10000 points as annual fee

Unfortunate there is no fee waiver. I am thinking of cancelling the card as gyftr attracts 1% extra on AGV from next month and limitations on AGV purchase.

Please suggest.

I was considering the same however have decided otherwise. Even if you carry on with AGV with charges for the gold charge spends of 72,000/- annually with the first option you get 4.39% to 11.32% with the lowest yielding option of 0.33p for Amazon/Flipkart voucher to 0.59p for Taj voucher. I am not even going into Mariott redemptions which definitely yields the highest if redeemed properly. Not a bad option to carry on with considering there are many offers and vouchers (such as Swiggy One/Zomato Gold) are sent regularly on Charge cards for longer duration memberships. Also depends upon what existing cards you are holding onto.

 

[drsel]

I got three options:
1) 50% off on annual fee
2) pay annual fee and get 10000 points
3) deduct 10000 points as annual fee

Unfortunate there is no fee waiver. I am thinking of cancelling the card as gyftr attracts 1% extra on AGV from next month and limitations on AGV purchase.

Please suggest.

1) 2950 expense
2) 900 expense
3) 5000 expense

 

[sravanbrahma]

1) 2950 loss
2) 900 loss
3) 5000 loss

This is a simplest explanation. For this year i will go with option 2. though I am not fully confident I can make 4L per year considering I recently got infinia.

 

[quino]

1) 2950 loss
2) 900 loss
3) 5000 loss

could anyone ELI5 this calculation pls?

 

[sourpai]

This is a simplest explanation. For this year i will go with option 2. though I am not fully confident I can make 4L per year considering I recently got infinia.

Do you really have use of extra 10K MR points if you are not planning to use Amex card in future? Marriott stays usually requires sizeable MR points. Option 3 is better in my opinion as it prevents immediate cashflow and values each MR point at 0.59

 

[sravanbrahma]

Do you really have use of extra 10K MR points if you are not planning to use Amex card in future? Marriott stays usually requires sizeable MR points. Option 3 is better in my opinion as it prevents immediate cashflow and values each MR point at 0.59

Anyways they don't expire so I will definitely use in next 2-3 years for some hotel.

 

[helloworld]

1) 2950 loss
2) 900 loss
3) 5000 loss

2) pay annual fee and get 10000 points

so, with each MR = 0.5p, hence we're paying 5900rs but getting only 5000 back = so 900 loss

3) deduct 10000 points as annual fee

how 5000 loss?

here also same with each MR = 0.5p, we're paying 5900rs with 5000 worth of points (like assume points to cashback redemption) = so still 900 loss

 

[sourpai]

Anyways they don't expire so I will definitely use in next 2-3 years for some hotel.

2-3 years is a very long time in today's world of quick devaluations... not worth it IMO. But again it is an individual call

 

[drsel]

My Amex Plat Travel is due for renewal next month, called customer care to close the card because I don't want to pay the renewal fee of 5000+GST.
They offered 3 options as below to retain my card account-

1. They will reduce the fee by 50 %, i need to pay 2500+GST for renew
2. They will waive the renewal fee after deducting 10000 MR points
3. I need to spend 1.5L in next 90 days & they will revert the fees i paid along with GST. I will be getting regular rewards & milestone benefit as well on that spend.

The last option I feel is better, but need suggestion from you guys.

could anyone ELI5 this calculation pls?

Basic assumption is that the points are worth 50 paisa.
I changed the word "loss" to "expense", which is more appropriate

1) 2950 expense at 50% fee
2) 900 expense, because you will spend Rs.5900 and get 10000 points worth 5000 (@50p)
3) 5000 expense, because you will spend 10000 points, which are worth Rs.5000 (@50p) and get nothing back in the form of cash or points

 

[sourpai]

Option 3 is the best option....

Save 5900 by paying 10K MR. And later on again buy 10K MR by paying 4K. Net gain of 1.9K

 

[_ayush]

You are loosing 4k and gaining nothing. Its the worst option. Might as well take half fees and loose 2950.

Option 3 is the best option....

Save 5900 by paying 10K MR. And later on again buy 10K MR by paying 4K. Net gain of 1.9K

Best option is second one only. If you consider buying 10k MR for 4k, you're loosing 1900 only.