When you attempt to cancel a credit card, especially one with a high annual fee, they will sometimes offer you a retention offer to keep the card.
American Express is known to have marks on your card account. If the agent tries to start the cancellation process, they will see a retention offer right away, if available.
A few months back, it’s widely reported that Amex Platinum cardholders were offered an offer of 15,000 or 20,000 points when called to cancel. I myself was offered 15,000 points as well, which I happily accepted 🙂
However, it appears that Amex has decided that the incentive was not strong enough. Two readers called to cancel recently, and received 30,000 / 40,000 points respectively. This is a 100% increase compared to the last batch.
If you hold the UK Amex Platinum card, feel free to call and make the inquiry, and there may be a nice surprise awaiting!
I got 30 000 points as well. I think that’s the least AMEX can do. The card benefits are currently non-existent, given the terms of travel insurance and lounges being closed and the list goes on. Benefits as 30£ off with a £150 spend at Gaucho’s just doesnt do it for me.
Perhaps provide extra cover for travel, or the option of discounted extra cover. Discounts for holiday vaccinations for example. 575£ for a card just for having one simply is just stupid.
True, I’m quite happy for the £300 free Waitrose credit offered though 😉
£300…. lucky you! I only got £100 credit offered with Waitrose.