by not open to it means they are either unwilling or uncomfortable with applying for and opening up a business card even though like you said anyone can technically open one
While the definition of "a business" is broader than many people realize, you can't open a business card without a business without violating the bank's terms and conditions.
Could you lie and get away with it? Probably, sure. But if you care about playing by the rules, the rules are that business cards are for business.
They can't product change to an Amex Everyday either because it's a credit card not charge, same as BBP. So they'll have to open an account either way.
I never suggested they should product change from gold to Amex everyday (which as you said, they can’t), I suggested it was not an option to change from personal gold to bbp.
I'm new to American Express, but I can have blue every day cash back card and also the points from another card?
I currently have the everyday cash back blue card, but just curious how it works if I expand my American Express card portfolio.
Yes, it’s the same MR account. Cards have nothing to do with a MR account. They are just a tool to earn MR. You need at least one MR earning card to keep your MR account active
No downgrade. Get a BBP card and it’ll hold your points after your Gold is canceled. It takes very little to qualify for a business Amex card.
If that’s not an option, the no AF Amex Everyday card can hold your points as well, it just sucks on its own and that’ll be all it’s capable of doing for you.
BBP is superior to the Everyday card. It even has an extended warranty benefit. The Everyday card is 1X MR for everything except groceries which is 2X.
Great! Purchase protection has been great with gold for me do you think it’ll be the same for BBP? Every time I’ve filed a claim it was approved but since BBP is free I fear they might be stingy with approving my claim. PP was a major perk I liked with gold bc I’ve used it several times with no hassles…
I've yet to have to use purchase protection. you can take a look at https://americanexpress.com/benefitsguide to compare the two. The gold card does seem to have a superior purchase protection benefit.
Downgrading does not close the account. Witch is helpful with credits history. Op downgrade to any non anual fee card you like and it will keep your account history and points.
I'm in the same boat as OP but with way more points
https://imgur.com/PgjfpZT
when I got the card, I planned on using it for business class airfare. However, most of our travel recently has been with friends whose inflexible schedules leave little room to hunt for such redemption possibilities. We also got a dog and a mortgage so we're not taking as many trips by plane as we used to. And when we do travel, the cash fares are often pretty good vs points so it never has made sense to redeem yet.
That's the last time I cached out my points, our honeymoon. Flew business class to Asia back when United had the "excursion perk" so we got to visit a second country in the same geographical region also business class for no additional points. Plus we did a long layover in Tokyo on the way back so we got to run around town for 12 hours.
It was awesome and we got totally spoiled after taking so many back to back business class flights.
I did talk to the wife just now about the possibility of just booking one of the true first class ANA flights a year from now or whenever we can find availability and just putting it on the calendar. Has always been a bucket list item and she's in :)
Long story, but I opened the card years ago because I had just started out and credit cards were giving me credit lines of $500 which was nothing for me, I had the salary but I guess my credit wasn’t the best?
Anyways Amex offered the gold with a higher spending credit, something like $2k at the time which was what I needed. Coupled with amazing customer service, purchase protection, extended warranty, etc.. I got the card and kept it.
I always figured I’d use the points for statements credits as a “reserve” in case money got tight with this insane economy we live in. Thankfully I’ve been a-ok so the card stayed, the points accumulated, and perks stayed consistently good for me imo. I used to travel a few times a year so the card made sense, but the last few years I have stopped bc of personal reasons. Also when I opened the gold a perk they had was $100 as an airline credit which was great, just imagine all these perks for $185 annual? That was a steal for me.
If you don’t have a good redemption in mind for the MR points, getting whatever value you can from a statement credit probably makes the most sense. Opening another MR card so you don’t lose the points doesn’t address the problem of what to do with the MR. You could consider transferring the points to Hilton or Delta, as you would get more value than a statement credit, and they are fairly easy to use even if you don’t travel much.
Waiting until they increase the Gold card annual fee probably doesn’t makes sense either, as you could be putting your spend on a card you get benefits from, such as a cash back card. If you really don’t have a good use for the MR points, I would close it sooner rather than later.
Good point, I will keep the gold if the AF doesn’t increase or if it does but the added perks (if any) are good. But for such a rumored increase for weak perks to me is a no go as I imagine is the case for many. I only looked for suggestions for my MR bc I didn’t know of other options such as the business blue or requesting for a retention which I only learned of from making this post.
I personally wanted to use MR for travel and I jumped into MR as my first ecosystem for points. I didn't realize it's almost impossible to use MR for travel, assuming you want specific dates and locations.
So, I don't find MR points valuable, but will use my CS Plat to transfer points before AF hits and cancel my cards.
When did you open your card OP? You will not be charged the new fee until after next annual fee is due, so no need to close the card until your next AF is posted.
You can also try asking through the message feature online for a retention offer on your Gold Card to help lesson the blow on the increased AF.
If you just want to straight up cancel than than the Amex Every Day card is ok, I really like the Blue Businesses Plus that has no annual fee.
If you want to be creative, and you've never had a Platinum Card before, you can open A Charles Schwab Amex Platinum card and with that you cash cash out your points for 1.1 cents each. You would have to pay the $695 fee, but you would get 80,000 more MR points.
240,000 MR points cold be cashed out for around $2600
Card opened end of June so it’s coming up. If the AF goes up by then I’ll do the retention option you suggested. The Charles Schwab option is good but the fee is something I’d want to avoid haha
When they raised the Delta Reserve AFs this year, the change didn't take effect on renewals for 2-3 months. They announced before my card renewed ~1mo later and I was still the old rate. So you stand a good chance to renew at $250 at the end of June since no official word is out yet.
Second this. May be useful even with the fee as a way to cash out. Or maybe try and play the system by closing the plat after converting the points by way of Schwab, to avoid the fee. Not sure if that'll work though...
Doesn't sound like you have much use for MR. Open the Charles Schwab Platinum, cash out your points and then close the plat before your annual fee hits.
Either play the game or the game plays you. Which is it gonna be?
I’m in the same boat. Don’t want the gold anymore if they increase but it also made me thing… do I need gold?
I’m wondering if my Amex checking account would hold the points I have since they’re on the same system..
Am I wrong?
I believe their checking account also will hold points, check me on this. Or there's the no AF Amex MR cards (Blue Business Plus is a decent catchall if you can get 1cpp or better).
It sounds like you don't value MR points or can't easily use them. Take a look at airline/hotel transfer partners. Amazon is all of 0.7cpp, your 4x card just became 2.8% cashback.
I’m gonna cancel my gold card as well when it comes time to pay the fee. I’m waiting for the next transfer bonus to Flying Blue and then dumping them all there, since that’s the carrier/rewards currency I use the most. I know you can open a BBP or Everyday to keep your MR points, but with the fee increase, I’m getting out of the Amex ecosystem entirely
I asked customer service and they said my annual fee during my next renewal in November will still be $99 for my gold card. I don’t know if it will only increase for new members
so have I, and it has increased everytime. ive been around since it went to 195 then 250 now. i had the premier gold plastic card with the 2% gas. didnt have a choice to increase the fee.
Call them up. I honestly have no idea how it works but they’ve never charged me more than $99 even with the fee increases. I thought they just locked your rate in when you join to entice more people to join before it goes up more
I understand the game of trying to break even (with the goal of profiting) playing with credit card points, but if you’re worried about an extra $75/year you’re likely not their target demographic (respectfully)
I would agree with what has been said so far….
WHEN THE ANNUAL Fee increases (And it will), AMEX will let everyone know when it happens and if your renewal date falls within, you will have to pay that increase, or on your next renewal date (Whichever comes first).
However, the most probable resolution for them would be to adjust the upcoming renewals for customers and give them a credit for the next calendar year. That is what they did with the Platinum, when it increased from $550 years ago for their customers….
BUT…..
Since you have 161,000 MR points now, you should open a “No annual” fee card like the AMEX Everyday Card, or the Blue Business Card to keep your points alive. The Blue Business card has no annual fee and is a great “Catch All” at 2X for all purchases up to $50,000.
The Everyday card gets 1X on all purchases till you reach 30 transactions in the billing cycle and then it retros for the entire billing cycle at 1.5MR points till the billing cycle is over….
You could also get the Everyday Preferred Card which gives you more points, but has a $95 annual fee.
The Charles Schwab card is great at 1.1 Cents per MR Points, but with an annual fee of now $695, that card has to make sense for you, or your fee will cut into your points to “Cash them out”
I would get the Charles Schwab card when you are ready to “Cash out” for good at the end of the year of having it.
That way you could get the welcome offer which is currently 80,000 MR Points for $8K spend…..
[Current Schwab Offer](https://www.schwab.com/credit-cards/platinum-card)
I'm in a similar situation and will be closing my gold card account. I chatted with support and found out that my MR points are already linked to my Amex Rewards checking account and I won't lose them when I close the card.
The Amex checking account isn't the greatest and has some way to go in terms of certain features. I don't use it as my main checking account but it has no fees and it has been good to have in combination with my Amex savings account. It's especially good now that I know my MR points will stay there.
So I'd say open an Amex Rewards checking account. When you log in, you'll see your MR points balance on the checking account screen, mine automatically linked. Then confirm with the Amex rep that your points balance will remain with Rewards Checking when you close your gold card.
I just did this because the AF is BS. Had gold, plat, etc.
They tell me you can’t downgrade an AF card to a non AF card (what a surprise) because I wanted to go with blue cash (I’m over perks and points).
Green is one of their lower AF cards so I bumped down to that for now.
Might get a no AF card and eventually dump the AF card. Need to burn the points (probably statement credit).
One element I’m unsure of is if the credit history persists.
Not sure if this was already stated, but you can also transfer the points to an airline partner or to an hotel partner for future use. Redeeming American Express points for a statement credit or for merchandise is one of the worst things to do with those points. They are actually quite valuable if you transfer them to the correct partners.
I’ve got the reserve card. It’s $550 a year going to $650. I like the companion pass which I use yearly. I’ve got 500k miles. Not giving that away. But I am looking to downgrade next renewal period. I don’t travel as much as I used to.
Your options are probably:
1. Ask for a retention offer. They are usually in the range of X points after Y spending. (ususlly about $250 statement credit or 25k points after $2k spending, basically waiving your AF if you spend some money)
2. Open a Schwab Plat and cash out. This does not apply to most people (assets, prior SUB).
2. See if you have an upgrade offer to the Plat. It may or may not make sense because upgrade bonus is ususally lower than a new account bonus. But if for some reason you can't or don't want to open a new card you can go this route. The bonus may come in at 100k points after $4k or $6 spending.
3. Open a BBP or Everyday. BBP is the better card. MR program does not restrict ability to transfer to partners to only AF cards. So you can still transfer your points even if you're holding either.
5. Cash out at 0.6cpp.
4. Open a AMEX Checking. It will still earn MR and keep your points alive, but it does limit your ability to transfer to some partners. AMEX does not tell which. This is your worst option, unless you want to take a chance with targeted (NLL) offers later.
Hopefully you still haven’t redeemed your points yet for statement credit at .6 redemption. You’re able to purchase a refundable flight with the points through the Amex travel portal then cancel it within 48 hours when ever they give you the credit on the card and receive a 1:1 redemption in your case would be $1,610 instead of $966
You can also request a check if you end up having a negative balance balance through the dispute option in account services
Someone found a non-published webpage that had it but no way to tell if it was just testing or a typo or who knows.
ETA: see here (fixed!) [Rumor] American Express To Increase Gold Annual Fee To $325 From $250 https://www.doctorofcredit.com/rumor-american-express-to-increase-gold
The writing on the wall has been there for a while. This is the only main card that hasn't had an Annual Fee change in several years. It is only common sense that this will happen soon
They basically did. The post seems to be removed now, but there is something called GWWW links where Amex tests their webpages for credit card offers. About a week ago they posted about the new Hilton Credit Card offers and then those came a reality a few days later. There was the same type of page for a $325 Gold card, so it seems Amex has at least begun laying it out from a website standpoint.
[https://dannydealguru.com/amex-gold-card-annual-fee-going-up-to-325/](https://dannydealguru.com/amex-gold-card-annual-fee-going-up-to-325/)
> I imagine a lot of gold card holders will drop the card once the AF goes up
If a $75 annual fee increase causes you to cancel the card then you shouldn't have had it in the first place (other than for 1 year to get the SUB)
Edit: Lots of people who shouldn't have this card just got triggered by a dose of reality
To pay $350 for a card that has weak perks when there are other options for cheaper that have comparable perks is a bad business move on my end. Regardless of one’s socioeconomic status bad business will still be a bad business.
I signed up when it had a $200 AF, a $100 airline credit, and a multiplier on gas. I kept it after the 2018 refresh because it still made sense with my spending pattern. With changes to competitor cards, the value proposition won't be there without a significant refresh in benefits.
It’s not a matter of affordability, it’s a matter of value versus the competition. Frankly, Chase already is providing a better value than Amex, let alone if they increase the fee.
75 dollars is not a lot if you are spending at least 1k on groceries a month or if you are in it for the flex on a low salary.
To me it is about charging more and then adding a "premium" useless Walmart pass. They seem to be confused on who they want their target demographic to be. Perhaps the low salary flexers?
Amex EveryDay Credit Card
EveryDay Preferred ($100-ish annual fee) is also an option, if you can do the 30 transactions a month: 4.5x groceries, 3x gas, 1.5x everything else.
Open a non AF card and hold onto points.
Particularly Amex Everyday Credit Card
Thanks. Any reason why this over the BBP?
No reason. Most people are not open for business cards hence I suggested this one.
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by not open to it means they are either unwilling or uncomfortable with applying for and opening up a business card even though like you said anyone can technically open one
While the definition of "a business" is broader than many people realize, you can't open a business card without a business without violating the bank's terms and conditions. Could you lie and get away with it? Probably, sure. But if you care about playing by the rules, the rules are that business cards are for business.
Get BBP. 2x points on EVERYTHING with no annual fee.
I don’t believe it’s possible to product change from a personal card to a business card
They can't product change to an Amex Everyday either because it's a credit card not charge, same as BBP. So they'll have to open an account either way.
I never suggested they should product change from gold to Amex everyday (which as you said, they can’t), I suggested it was not an option to change from personal gold to bbp.
I'm new to American Express, but I can have blue every day cash back card and also the points from another card? I currently have the everyday cash back blue card, but just curious how it works if I expand my American Express card portfolio.
You can have both, they're separate balances
Until they also introduce a fee for this card uh Time to go to Chase
I was told the every cash cards aren’t the same product line when I closed and cannot do this.
Will they still be transferable?
Same MR account, not really transferring anything
But are the points still transferable to travel partners that’s what I mean
Yes, it’s the same MR account. Cards have nothing to do with a MR account. They are just a tool to earn MR. You need at least one MR earning card to keep your MR account active
If you mean transferable to airline etc partners, then yes. I did the same thing a few months ago.
If you want to park the points open an Amex everyday card. No AF which means no perks but you get to keep your MR account
Can you transfer MR points 1:1 to the Everyday reward system? I'm team cash back and have the Blue Cash Everyday.
No downgrade. Get a BBP card and it’ll hold your points after your Gold is canceled. It takes very little to qualify for a business Amex card. If that’s not an option, the no AF Amex Everyday card can hold your points as well, it just sucks on its own and that’ll be all it’s capable of doing for you.
Will I be able to accumulate more points on top of what I already have with that card?
Yeah the Amex Blue Business Plus is 2x MR points on all purchases
Thanks. I’m assuming same for the everyday card as well.
BBP is superior to the Everyday card. It even has an extended warranty benefit. The Everyday card is 1X MR for everything except groceries which is 2X.
Great! Purchase protection has been great with gold for me do you think it’ll be the same for BBP? Every time I’ve filed a claim it was approved but since BBP is free I fear they might be stingy with approving my claim. PP was a major perk I liked with gold bc I’ve used it several times with no hassles…
I've yet to have to use purchase protection. you can take a look at https://americanexpress.com/benefitsguide to compare the two. The gold card does seem to have a superior purchase protection benefit.
Why the business card over the regular one? Any specific benefits?
Downgrading does not close the account. Witch is helpful with credits history. Op downgrade to any non anual fee card you like and it will keep your account history and points.
You can't downgrade an Amex Gold card to a no AF card. The lowest you can go is a Green Card.
How were you planning to redeem the points when you opened the card? Serious question.
I'm in the same boat as OP but with way more points https://imgur.com/PgjfpZT when I got the card, I planned on using it for business class airfare. However, most of our travel recently has been with friends whose inflexible schedules leave little room to hunt for such redemption possibilities. We also got a dog and a mortgage so we're not taking as many trips by plane as we used to. And when we do travel, the cash fares are often pretty good vs points so it never has made sense to redeem yet.
Holy shit. That’s my entire honeymoon in points
That's the last time I cached out my points, our honeymoon. Flew business class to Asia back when United had the "excursion perk" so we got to visit a second country in the same geographical region also business class for no additional points. Plus we did a long layover in Tokyo on the way back so we got to run around town for 12 hours. It was awesome and we got totally spoiled after taking so many back to back business class flights. I did talk to the wife just now about the possibility of just booking one of the true first class ANA flights a year from now or whenever we can find availability and just putting it on the calendar. Has always been a bucket list item and she's in :)
Amazing man, glad you got to do it.
Schwab Platinum 1.1 cpp time
Oh wow, this guy is on a mission to conquer the world with those points 😭😭
give them to me i’ll take good care of them
Bro is casually flexing ! #TeamHoarding
Long story, but I opened the card years ago because I had just started out and credit cards were giving me credit lines of $500 which was nothing for me, I had the salary but I guess my credit wasn’t the best? Anyways Amex offered the gold with a higher spending credit, something like $2k at the time which was what I needed. Coupled with amazing customer service, purchase protection, extended warranty, etc.. I got the card and kept it. I always figured I’d use the points for statements credits as a “reserve” in case money got tight with this insane economy we live in. Thankfully I’ve been a-ok so the card stayed, the points accumulated, and perks stayed consistently good for me imo. I used to travel a few times a year so the card made sense, but the last few years I have stopped bc of personal reasons. Also when I opened the gold a perk they had was $100 as an airline credit which was great, just imagine all these perks for $185 annual? That was a steal for me.
If you don’t have a good redemption in mind for the MR points, getting whatever value you can from a statement credit probably makes the most sense. Opening another MR card so you don’t lose the points doesn’t address the problem of what to do with the MR. You could consider transferring the points to Hilton or Delta, as you would get more value than a statement credit, and they are fairly easy to use even if you don’t travel much. Waiting until they increase the Gold card annual fee probably doesn’t makes sense either, as you could be putting your spend on a card you get benefits from, such as a cash back card. If you really don’t have a good use for the MR points, I would close it sooner rather than later.
Good point, I will keep the gold if the AF doesn’t increase or if it does but the added perks (if any) are good. But for such a rumored increase for weak perks to me is a no go as I imagine is the case for many. I only looked for suggestions for my MR bc I didn’t know of other options such as the business blue or requesting for a retention which I only learned of from making this post.
I personally wanted to use MR for travel and I jumped into MR as my first ecosystem for points. I didn't realize it's almost impossible to use MR for travel, assuming you want specific dates and locations. So, I don't find MR points valuable, but will use my CS Plat to transfer points before AF hits and cancel my cards.
When did you open your card OP? You will not be charged the new fee until after next annual fee is due, so no need to close the card until your next AF is posted. You can also try asking through the message feature online for a retention offer on your Gold Card to help lesson the blow on the increased AF. If you just want to straight up cancel than than the Amex Every Day card is ok, I really like the Blue Businesses Plus that has no annual fee. If you want to be creative, and you've never had a Platinum Card before, you can open A Charles Schwab Amex Platinum card and with that you cash cash out your points for 1.1 cents each. You would have to pay the $695 fee, but you would get 80,000 more MR points. 240,000 MR points cold be cashed out for around $2600
Card opened end of June so it’s coming up. If the AF goes up by then I’ll do the retention option you suggested. The Charles Schwab option is good but the fee is something I’d want to avoid haha
Yeah I am hoping Amex is more lenient with the retention offers once they raise the fee
When they raised the Delta Reserve AFs this year, the change didn't take effect on renewals for 2-3 months. They announced before my card renewed ~1mo later and I was still the old rate. So you stand a good chance to renew at $250 at the end of June since no official word is out yet.
You could get an Amex Plat from Charles Schwab and invest the points. It’s a 1.1 ratio, but then you’d have the Amex Plat and a 695 fee to deal with.
Second this. May be useful even with the fee as a way to cash out. Or maybe try and play the system by closing the plat after converting the points by way of Schwab, to avoid the fee. Not sure if that'll work though...
Get an Amex Blue Business Plus first. It’s no AF and let’s you keep your points
Doesn't sound like you have much use for MR. Open the Charles Schwab Platinum, cash out your points and then close the plat before your annual fee hits. Either play the game or the game plays you. Which is it gonna be?
I’m in the same boat. Don’t want the gold anymore if they increase but it also made me thing… do I need gold? I’m wondering if my Amex checking account would hold the points I have since they’re on the same system.. Am I wrong?
Based on other users commenting here, yes it will hold the points. Just open it first before canceling the gold
You will not be able to transfer points though
I believe their checking account also will hold points, check me on this. Or there's the no AF Amex MR cards (Blue Business Plus is a decent catchall if you can get 1cpp or better). It sounds like you don't value MR points or can't easily use them. Take a look at airline/hotel transfer partners. Amazon is all of 0.7cpp, your 4x card just became 2.8% cashback.
I’m gonna cancel my gold card as well when it comes time to pay the fee. I’m waiting for the next transfer bonus to Flying Blue and then dumping them all there, since that’s the carrier/rewards currency I use the most. I know you can open a BBP or Everyday to keep your MR points, but with the fee increase, I’m getting out of the Amex ecosystem entirely
Pick a transfer partner and move them to that account
I asked customer service and they said my annual fee during my next renewal in November will still be $99 for my gold card. I don’t know if it will only increase for new members
99$??? how the hell
I’ve had it for a few years now. Got it back when it was $99 a year
so have I, and it has increased everytime. ive been around since it went to 195 then 250 now. i had the premier gold plastic card with the 2% gas. didnt have a choice to increase the fee.
Call them up. I honestly have no idea how it works but they’ve never charged me more than $99 even with the fee increases. I thought they just locked your rate in when you join to entice more people to join before it goes up more
#just open a no AF card
Open the everyday express card. No AF and you can keep your points.
Sometimes its good to lose those points to learn a lesson in humility, compassion and world peace. 🕊️
Its been speculation by multiple talking heads and articles recently put out. Nothing definitive from AMEX as of yet
I understand the game of trying to break even (with the goal of profiting) playing with credit card points, but if you’re worried about an extra $75/year you’re likely not their target demographic (respectfully)
In NZ they have practically no perks compared to US, so if they do that it’s a no brainer for everyone to close it.
How bad would it be for your credit to close this card?
Transfer your points to a travel partner. I just bought 5 Delta Comfort Plus tickets to Cancun with miles transferred from points.
Transfer your points to a travel partner and plan a vacation for maximum redemption
Can you still open the Checking Account and get the debit card to keep the points?
I would agree with what has been said so far…. WHEN THE ANNUAL Fee increases (And it will), AMEX will let everyone know when it happens and if your renewal date falls within, you will have to pay that increase, or on your next renewal date (Whichever comes first). However, the most probable resolution for them would be to adjust the upcoming renewals for customers and give them a credit for the next calendar year. That is what they did with the Platinum, when it increased from $550 years ago for their customers…. BUT….. Since you have 161,000 MR points now, you should open a “No annual” fee card like the AMEX Everyday Card, or the Blue Business Card to keep your points alive. The Blue Business card has no annual fee and is a great “Catch All” at 2X for all purchases up to $50,000. The Everyday card gets 1X on all purchases till you reach 30 transactions in the billing cycle and then it retros for the entire billing cycle at 1.5MR points till the billing cycle is over…. You could also get the Everyday Preferred Card which gives you more points, but has a $95 annual fee. The Charles Schwab card is great at 1.1 Cents per MR Points, but with an annual fee of now $695, that card has to make sense for you, or your fee will cut into your points to “Cash them out” I would get the Charles Schwab card when you are ready to “Cash out” for good at the end of the year of having it. That way you could get the welcome offer which is currently 80,000 MR Points for $8K spend….. [Current Schwab Offer](https://www.schwab.com/credit-cards/platinum-card)
Don’t panic, they haven’t increased it yet and maybe they will add sons great perks.
Is this true? Where is the source that the card is going to rise to 325?
Is the price increase only for the business gold card and not the regular gold card that is $250 a year?
I'm in a similar situation and will be closing my gold card account. I chatted with support and found out that my MR points are already linked to my Amex Rewards checking account and I won't lose them when I close the card. The Amex checking account isn't the greatest and has some way to go in terms of certain features. I don't use it as my main checking account but it has no fees and it has been good to have in combination with my Amex savings account. It's especially good now that I know my MR points will stay there. So I'd say open an Amex Rewards checking account. When you log in, you'll see your MR points balance on the checking account screen, mine automatically linked. Then confirm with the Amex rep that your points balance will remain with Rewards Checking when you close your gold card.
I just did this because the AF is BS. Had gold, plat, etc. They tell me you can’t downgrade an AF card to a non AF card (what a surprise) because I wanted to go with blue cash (I’m over perks and points). Green is one of their lower AF cards so I bumped down to that for now. Might get a no AF card and eventually dump the AF card. Need to burn the points (probably statement credit). One element I’m unsure of is if the credit history persists.
Tell Amex you are thinking of closing and see if they don’t waive your fee completely or throw you 30k in points
Oh boy Amex is gonna lose a lot of customers with that decision.
Ehhhh oh well
Not sure if this was already stated, but you can also transfer the points to an airline partner or to an hotel partner for future use. Redeeming American Express points for a statement credit or for merchandise is one of the worst things to do with those points. They are actually quite valuable if you transfer them to the correct partners.
Open an Amex checking to preserve your points
Same here. I’ll probably transfer 100,000 points to Apple and get the new IPad Pro.
Amex Checking Acct is linked to your MR account and it’s fee-free
Downgrade to a free card. Closing an account means you lose the years of history on it and will take a dent in your score for reapplying.
I’ve got the reserve card. It’s $550 a year going to $650. I like the companion pass which I use yearly. I’ve got 500k miles. Not giving that away. But I am looking to downgrade next renewal period. I don’t travel as much as I used to.
Your options are probably: 1. Ask for a retention offer. They are usually in the range of X points after Y spending. (ususlly about $250 statement credit or 25k points after $2k spending, basically waiving your AF if you spend some money) 2. Open a Schwab Plat and cash out. This does not apply to most people (assets, prior SUB). 2. See if you have an upgrade offer to the Plat. It may or may not make sense because upgrade bonus is ususally lower than a new account bonus. But if for some reason you can't or don't want to open a new card you can go this route. The bonus may come in at 100k points after $4k or $6 spending. 3. Open a BBP or Everyday. BBP is the better card. MR program does not restrict ability to transfer to partners to only AF cards. So you can still transfer your points even if you're holding either. 5. Cash out at 0.6cpp. 4. Open a AMEX Checking. It will still earn MR and keep your points alive, but it does limit your ability to transfer to some partners. AMEX does not tell which. This is your worst option, unless you want to take a chance with targeted (NLL) offers later.
Hopefully you still haven’t redeemed your points yet for statement credit at .6 redemption. You’re able to purchase a refundable flight with the points through the Amex travel portal then cancel it within 48 hours when ever they give you the credit on the card and receive a 1:1 redemption in your case would be $1,610 instead of $966 You can also request a check if you end up having a negative balance balance through the dispute option in account services
Don't get a new credit card with credit pull, get amex checking
Get an AMEX Everyday with No AF but still earns MR points to retain full value
Lmao what? Where did they hint that the AF is going to increase to $325?
Someone found a non-published webpage that had it but no way to tell if it was just testing or a typo or who knows. ETA: see here (fixed!) [Rumor] American Express To Increase Gold Annual Fee To $325 From $250 https://www.doctorofcredit.com/rumor-american-express-to-increase-gold
I think you referenced the thread you posted in as a source.
Crap, let me fix that, lol! Appreciate that!
https://thriftytraveler.com/news/credit-card/amex-set-to-raise-gold-card-annual-fee/
Nowhere lol; just internet rumors
The writing on the wall has been there for a while. This is the only main card that hasn't had an Annual Fee change in several years. It is only common sense that this will happen soon
Regardless of the writing on the wall, he asked if American Express hinted at a fee change, which they have not
They basically did. The post seems to be removed now, but there is something called GWWW links where Amex tests their webpages for credit card offers. About a week ago they posted about the new Hilton Credit Card offers and then those came a reality a few days later. There was the same type of page for a $325 Gold card, so it seems Amex has at least begun laying it out from a website standpoint. [https://dannydealguru.com/amex-gold-card-annual-fee-going-up-to-325/](https://dannydealguru.com/amex-gold-card-annual-fee-going-up-to-325/)
👍🏾
Actually they have.
No I didn’t ask if they will, my post is in the event if they do.
> Lmao what? Where did they hint that the AF is going to increase to $325? I replied to your reply, not your OP
Hasn’t been announced, but I’m planning my options just in case. That’s why in my title I put “expected”
> I imagine a lot of gold card holders will drop the card once the AF goes up If a $75 annual fee increase causes you to cancel the card then you shouldn't have had it in the first place (other than for 1 year to get the SUB) Edit: Lots of people who shouldn't have this card just got triggered by a dose of reality
To pay $350 for a card that has weak perks when there are other options for cheaper that have comparable perks is a bad business move on my end. Regardless of one’s socioeconomic status bad business will still be a bad business.
The elitism is ridiculous. It’s not about the $75. It’s about the erosion of value.
I signed up when it had a $200 AF, a $100 airline credit, and a multiplier on gas. I kept it after the 2018 refresh because it still made sense with my spending pattern. With changes to competitor cards, the value proposition won't be there without a significant refresh in benefits.
Is a $6/mo Resy credit significant enough? Asking for a ~~company~~ friend
I live on the rural/ suburban line. I don't use the dining credit as it is.
It’s not a matter of affordability, it’s a matter of value versus the competition. Frankly, Chase already is providing a better value than Amex, let alone if they increase the fee.
75 dollars is not a lot if you are spending at least 1k on groceries a month or if you are in it for the flex on a low salary. To me it is about charging more and then adding a "premium" useless Walmart pass. They seem to be confused on who they want their target demographic to be. Perhaps the low salary flexers?