I’m looking to cancel my AMEX Gold card because I doubt I’ll receive a retention offer, and the $325 annual fee feels too high. Currently, I have around 100k Membership Rewards (MR) points that I’d like to retain. I’m exploring all the options available to preserve these points.
I obtained the card last April 2024, so I have some time to make a decision. Later this year, I may call to threaten cancellation in hopes of receiving a retention bonus, but I’m leaning toward cancelling regardless.
Aside from potentially opening a Blue Cash Everyday (BCE) card or an AMEX checking account, I’m considering transferring my points to a partner airline while there’s a transfer bonus available. Does anyone have additional thoughts or strategies on this topic?
Shea said: @Zee
What does AMEX require for this? Is it just an EIN sheet?
When I applied for the AMEX Business Gold card, they asked if I had an LLC or was a sole proprietor. If you don’t have an LLC, you can use your Social Security number (SS#). It’s been a while since I applied, but they asked minimal info—like your monthly income and expenditures. I just listed $500 per month, and it got approved.
Just keep in mind that the BCE is a cashback card, so it won’t help you retain your MR points. Transferring points now poses the risk of devaluation before you can fully utilize them, unless you have a trip planned soon.