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.

 

[sourpai]

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


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

You are saving cash outflow of 5900 of annual fees by giving away 10K MR. That is the saving I am talking about

So 5900 saved - 4000 spent = 1900 profit

 

[helloworld]

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

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


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

1. Pay Full Fee (5310) and get 10000 MR (Net Return*: 9.4% - 20.96%)
   • 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%)
   • 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%)
   • This offer is great only 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, and eligible for next year milestone benefits especially cards like platinum travel.

. : )

 

[drsel]

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

There is no gain to be made.
it will only reduce the expense from 5000 to 4000

 

[sourpai]

There is no gain to be made.
it will only reduce the expense from 5000 to 4000

Yes you are right. I only suggested 4k option if someone does not want to let go 10K MR. Otherwise, I will prefer saving of cash outflow (5900) by giving away 10K MR

 

[ujjwal2024]

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

If you calculate as per cash equivalent
1) Rs. 2950 expense incash
2) Rs. 3400 expense in cash ( as cash value or statement credit of 10000 point is rs 2500. 5900-2500=3400)
3) Rs. 2500 expense in cash ( as you are giving away 10000 point worth rs. 2500 cash value or statement credit)
It all depends on what you value more and what is your uses (Statement credit, Amazon voucher, Taj , these three have fixed rate and lastly Marriott with varying redemption rate)
Calculations should be different for different people

 

[drsel]

It all depends on your valuation of American Express points, whether 33, 40 or 50 paisa.
I would not consider less than 33 Paisa because 24000 points gets 8000 Amazon pay, which is quasi-cash.

You can apply your valuation to my answer (50p value) and then calculate which is the best option.

 

[Vinay13]

It all depends on your valuation of American Express points, whether 33, 40 or 50 paisa.
I would not consider less than 33 Paisa because 24000 points gets 8000 Amazon pay, which is quasi-cash.

You can apply your valuation to my answer (50p value) and then calculate which is the best option.

If you consider 33ps and 50 ps then which option is better of 3?

 

[gg123]

I might've gotten the worst offer

• 2.5L Spend in the next 60 days for 100% waiver
• 50% discount on 5900

Edit 1 - Plat travel

 

[sravanbrahma]

Everyone is going by value of points and opposing option 3 (spend 1.5L) but you get a leverage of free annual fee as well as 1.5L less in your next milestone which is HUGE.

Which is equal to 5900 + (1.5L*6%) ~ 15000

 

[sravanbrahma]

I might've gotten the worst offer

• 2.5L Spend in the next 60 days for 100% waiver
• 50% discount on 5900

Edit 1 - Plat travel

Still worth it. Your next milestone is shorter but just that you should have necessity for spend.

I asked for waiver but amex people didn't offer me one. I had to settle with 10k points with full fee paid.

 

[gg123]

Still worth it. Your next milestone is shorter but just that you should have necessity for spend.

I asked for waiver but amex people didn't offer me one. I had to settle with 10k points with full fee paid.

Yeah I took the offer. I have 2L spend comping up with in the next one week.

I had called the merchant to ask if amex is accepted they said. They won't accept Amex

 

[denisjos]

This time around there is another spend based offer running spend x amt to get a tag voucher. For most ppl there is spend based waiver at 1.5l then this offer at 2-3l and also the regular milestone

 

[gg123]

I might've gotten the worst offer

• 2.5L Spend in the next 60 days for 100% waiver
• 50% discount on 5900

Edit 1 - Plat travel

Yeah I took the offer. I have 2L spend comping up with in the next one week.

I had called the merchant to ask if amex is accepted they said. They won't accept Amex

Update and Question:

I have made my purchase and the merchant didn't accept amex. they used to but now they don't anymore.

Even talked to the manager and was willing to pay additional MDR on transaction. He told me that their corporate and Amex had miscommunications over something and Amex banned them.

and Idon't think I can achieve 2.5L (2.2L Remaining) that too in the next 50 days. is there a way I can get 50% off offer ?

 

[_ayush]

Yes. Call them before 90 days are over and tell them you would like to go with 50% waiver option.

 

[Alex292929]

how much time before renewal date should we negotiate?
my travel renewal date is 18th may

 

[gowtham202]

what did you get at the end?

 

[denisjos]

how much time before renewal date should we negotiate?
my travel renewal date is 18th may

You can negotiate after the charges show up, if it is a 50% waiver they will reverse the charge. If you have paid the bill in which fee was included then you get credit in next bill. If you took full waiver for spending x amt in y days then again fee needs to be paid now and will be credited back when the said milestone is completed. Then there is waiver for points, like other cases if you paid the bill it will be credited back.

 

[Shinigami]

I wish I would have been little bit sensible and waited a bit.

My fees was charged today and I used my card for 1.1 lakh rs last month which I could ahve done this month.

I got 3 options.
1. Half off
2. 10000 points
3. 1.5 lakh 90 days.


I wish I didn't do the moronic thing and had waited to use the card now. I would have earned triple benefit.

3000 amazon voucher on using 1 lakh.
No fees on spending 1.5 lakh
Also milestone would have used.

 

[Lobogris]

I met the 4 lakh milestone on Plat Travel last year but am planning not to use it this year as it has very low value compared to my other cards. Nevertheless, I will pay the fee and keep the card just for the heck of it. If they give me 10k points for fee payment, then it’s an ok deal. Will continue to use my Amex Gold card a little bit.

 

[sid16]

I met the 4 lakh milestone on Plat Travel last year but am planning not to use it this year as it has very low value compared to my other cards. Nevertheless, I will pay the fee and keep the card just for the heck of it. If they give me 10k points for fee payment, then it’s an ok deal. Will continue to use my Amex Gold card a little bit.

In which scenarios are you using Amex Gold CC? I'm planning to get charge reversed and close it.