Amex UK has recently announced changes to The Platinum Card in the UK. Among these is a fee hike to £650 a year. Amex will also no longer offer pro-rata refunds of the annual fee from early 2024 onward.
To keep my membership rewards (MR) points stash, I wanted to downgrade to a cheaper card. Without asking, Amex offered me a retention bonus of 35,000 MR points. And best of all, the bonus comes with no spending requirement. I'll keep the card for now, and re-evaluate how much value I get out of The Platinum Card before the change to the pro-rata refund and annual fee kick in early next year.
Let me know in the comments if you have been offered a similar bonus and/or if you plan on cancelling The Platinum card once Amex implements the announced changes.
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