Amex Plat Travel renewal fee waiver. Is it ok to accept?

[neogen]

My Amex plat travel is up for renewal. On contacting Amex, they are offering 50% fee waiver.

Do you think its ok to accept this 50% renewal fee waiver offer?

 

[helloworld]

I usually redeem for Amazon GV. So 18000 MR = Rs. 7000 (currently 6000 I believe)

so in that case (1MR=0.33p), you're spending 1L on multiplier.. which means

spent: 1,00,000
base: 2,000 MR (=660Rs.)
multiplier: 8,000 MR (=2640Rs.)
fee waiver: 4500+GST (=5310Rs.)

Net %: 8.61% with fee waiver or 3.3% without fee waiver.

Is that good value? do we have to satisfy the fee got waived like this?

How much apprx. spends in last year?

 

[sjmajumder]

Guys i am really surprised you pay fees or points for renewal.

Just cancel the card and use my referral to get the card free again and also earn points

There is something called relationship. You can do that once or twice but not forever. Also there will be a cool down period after you cancel and neither is there any guarantee that you will get it again after canceling.

 

[sjmajumder]

so in that case (1MR=0.33p), you're spending 1L on multiplier.. which means

spent: 1,00,000
base: 2,000 MR (=660Rs.)
multiplier: 8,000 MR (=2640Rs.)
fee waiver: 4500+GST (=5310Rs.)

Net %: 8.61% with fee waiver or 3.3% without fee waiver.

Is that good value? do we have to satisfy the fee got waived like this?

How much apprx. spends in last year?

For me it is good value. I am ok with the deal.

 

[dungeonMaster]

so in that case (1MR=0.33p), you're spending 1L on multiplier.. which means

spent: 1,00,000
base: 2,000 MR (=660Rs.)
multiplier: 8,000 MR (=2640Rs.)
fee waiver: 4500+GST (=5310Rs.)

Net %: 8.61% with fee waiver or 3.3% without fee waiver.

Is that good value? do we have to satisfy the fee got waived like this?

How much apprx. spends in last year?

This calculation is for amex gold?
So basically, 8% return rate for amazon gv. It's fine but considering the limit wouldn't sbi cashback etc be better deal?

 

[sjmajumder]

This calculation is for amex gold?
So basically, 8% return rate for amazon gv. It's fine but considering the limit wouldn't sbi cashback etc be better deal?

Everything is not about money. I would prefer to pay for an Amex card than having a free SBI Card.

 

[helloworld]

For me it is good value. I am ok with the deal.

good to know, whats you apprx. spends last year. If you don't mind?

 

[dungeonMaster]

Everything is not about money. I would prefer to pay for an Amex card than having a free SBI Card.

You didn't got my point if you already have an amex card then this card doesn't make sense just for amazon gv. It's better to have mrcc or plat travel in this case.

The calculation shared were for amazon gvs only. So was talking respectively. If everything is not about money why even calculating the returns.

 

[Deleted member 9785]

There is something called relationship. You can do that once or twice but not forever. Also there will be a cool down period after you cancel and neither is there any guarantee that you will get it again after canceling.

there is no cool down period buddy

 

[sjmajumder]

You didn't got my point if you already have an amex card then this card doesn't make sense just for amazon gv. It's better to have mrcc or plat travel in this case.

The calculation shared were for amazon gvs only. So was talking respectively. If everything is not about money why even calculating the returns.

It wasn't me who calculated returns.

I have MRCC too. How is plat travel better for buying Amazon GV?

 

[sjmajumder]

good to know, whats you apprx. spends last year. If you don't mind?

Very less...just 6K every month for 9 months and 60K over 3 months to meet the spend target

 

[Swastik]

there is no cool down period buddy

Maybe not ,but let me ask you something, do you forsee any long term issues with doing this ,Canceling and Reapplying for Amex Cards every year

And I'm not being rhetorical,
I'm asking because a family friend has Amex Plat Charge and it's up for renewal later this year ,his wife has an Plat Travel and MRCC ,and she's getting upgrade to Plat Charge with 1,35,000 Points ,
I told him to cancel his card ,get his wife the card and then continue switching back forth every year ,but he says what @sjmajumder has already mentioned that Relationship is also important and he genuinely enjoys using this card & wants to continue with it

Again ,not criticizing anyone ,is there a drawback to recycling Amex card for years ,they might notice and take hostile measures ?

 

[Swastik]

See my dad hold both plantium and gold and have amex card plantium over 9-10 yr and 5 yr for gold and both of them he first pay the annual fees doesn't call and then one month or so after paying he call them and somehow amex reverse the fees. He say look at my account and My spending and amex cs always reverse the charges. Spend around 5 lakhs or so on gold and plantium 7 lakhs or so. It might vary but that his spending pattern over 10 yr with amex.

Is that Plat charge ?
He gets 70k Annual fee reversed every year ?!

 

[MangoRush]

Maybe not but let ask you something, do you forsee any long term issues with doing this ,Canceling and Reapplying for Amex Cards every year

And I'm not being rhetorical,
I'm asking because a family friend has Amex Plat Charge and it's up for renewal later this year ,his wife has an Plat Travel and MRCC ,and she's getting upgrade to Plat Charge with 1,35,000 Points ,
I told him to cancel his card ,get his wife the card and then continue switching back forth every year ,but he says what @sjmajumder has already mentioned that Relationship is also important and he genuinely enjoys using this card & wants to continue with it

Again ,not criticizing anyone ,is there a drawback to recycling Amex card for years ,they might notice and take hostile measures ?

If they have to resort to such dirty tricks, why even bother going for such a premium card ?

 

[vaibhav111]

Is that Plat charge ?
He gets 70k Annual fee reversed every year ?!

obviously no.. it plat travel

 

[Swastik]

Update - My dad called Amex, and this is the first time he couldn't get a fee reversal. Maybe he called too early, but he did receive 10,000 (MR) points in exchange for the fees without actually paying them(The due date is of November). The person on the call mentioned to my dad that she wouldn't be able to provide a fee reversal this time. For the Platinum Travel card too, fees will be coming up soon. I think we'll have to see if there's a fee reversal or not. At worst, I'll suggest to him that he should barter /give 10,000 points to offset the fees to Amex.

What is better ,50% off or 10k points for fee ?

I got former and my dad got latter ,
In past he has also got fee waiver for 5k points(Covid times)

 

[Swastik]

obviously no.. it plat travel

Ahh i see ,my mistake

 

[vaibhav111]

What is better ,50% off or 10k points for fee ?

I got former and my dad got latter ,
In past he has also got fee waiver for 5k points(Covid times)

10k point against fees paid.

 

[sjmajumder]

What is better ,50% off or 10k points for fee ?

I got former and my dad got latter ,
In past he has also got fee waiver for 5k points(Covid times)

10K points for fee is better.

50% means you pay 2655.
10K points mean you get Amazon GV of Rs. 3333 for Rs. 5310. Means effectively you paid Rs. 1977.

 

[Swastik]

If they have to resort to such dirty tricks, why even bother going for such a premium card ?

I try not to judge ,bit I'm genuinely curious over long term consequences of doing this

 

[Swastik]

10k point against fees paid.

10K points for fee is better.

50% means you pay 2655.
10K points mean you get Amazon GV of Rs. 3333 for Rs. 5310. Means effectively you paid Rs. 1977.

It's actually Pay 10k points to waive off fee ,

Does it still make sense ?