Amex Personal Platinum Retention Offer, Interesting Data Point
PDX Deals Guy recently called American Express when his Amex Personal Platinum card’s annual fee posted. I shared my wife’s Amex Platinum retention offer a few months ago and figured I would share his experience plus an interesting data point with you. I thought it would be beneficial to see his decision making process on whether or not to keep or cancel the card as well.
His Retention Offer
Once PDX Deals Guy’s $550 annual fee posted, remember to wait until your annual fee posts with Amex, he picked up the phone and gave them a call. He had the Mercedes Benz Platinum card that was moved over to the regular Platinum when it was discontinued. He wanted to see if American Express was willing to give him anything to keep his account open.
When he spoke with the retention department they offered the following offers:
- $200 statement credit after spending $3,000 within 3 months.
- 20,000 Membership Rewards points after spending $3,000 within 3 months. (The more valuable option)
My wife also received an offer of 20,000 MR points after $3,000 in spend. We decided to keep the card to pad our Membership Rewards balance and to keep my wife out of pop up purgatory.
PDX Deals Guy decided that neither offer was worth holding onto the card mainly because he has the Amex Business Platinum card and the perks overlap with the personal version. He also let me know that there was not a ton of spend put on the card over the last 12 months.
Interesting Data Point
PDX Deals Guy did confirm with me that he recently received a retention offer on his Business Platinum card too, only a few months earlier. This goes against recent data points where people are only receiving retention offers once every year or two across all cards. I wonder if they treat business and personal products separately for this rule in light of this data point. It is something to be aware of none the less.
Sometimes an offer that is good for one person doesn’t make sense for someone else. It appears that 20K Membership Rewards points is the most common offer for the American Express Personal Platinum card. I have heard of others getting 30,000 point offers as well but that seems to be less common.
It also appears that the one retention offer per year may only apply to personal cards. Or maybe the rule is per business account and per personal account. If you have some useful data points please share them in the comments section.