I had called them a few days back and they told me you can downgrade it. However, when I called again after the fee was charged, they said the downgrade option was only valid at that time and that it couldn’t be done now. I told them it was unprofessional on Amex’s part, I was only taking the time they had given me to decide, and now they were denying the downgrade. After putting the call on hold, the representative came back and said they would proceed with the downgrade.
I downgraded from gold charge to MRCC,
Points remain as long as we any one card.