TPG UK readers share how Amex is rewarding their loyalty during lockdown
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American Express offers some of the most feature-packed cards available in the U.K. The Platinum Card from American Express U.K. comes with a long list of travel benefits — from lounge access to travel insurance to elite hotel and car rental status. If you’re a frequent traveller, this can more than justify the annual fee of £575 each year.
But lockdown has meant our wings are clipped, so those travel benefits can’t be used right now. This has led to some travellers questioning the high annual fee of the card. TPG U.K.’s Nicky Kelvin has shared why he is keeping his Platinum Card even though he isn’t travelling right now.
Last week, American Express launched some special offers to existing cardholders:
- Platinum cardholders now get £100 to spend at popular retailers, and
- Business Platinum cardholders up to £550 in statement credits.
But for some, even with the added benefits, it’s not enough to justify keeping the card and paying the steep annual fee. Various TPG U.K. readers have contacted American Express regarding this situation to enquire as to whether Amex can offer them anything additional to reward their loyalty during this unusual period.
Known as retention offers, the responses differ from Platinum cardholder to Platinum cardholder. We asked the TPG U.K. Lounge, and when it comes to retention offers for the Platinium Card, these are some of what readers have been offered:
“I was offered 20,000 Membership Rewards points to retain the card when I asked about cancelling due to the lack of opportunity to utilise the benefits during the lockdown period. I’ve decided to keep the card because I can easily earn back the value of the annual fee with savings I obtain with the Amex Travel team.” — David“Amex offered to refund the Platinum annual fee pro-rata and move to a monthly fee of £48 p.c.m. It works out only about £1 more than the annual fee, but provides greater flexibility and allows me to decide on a month-by-month basis if I should retain the card. I have chosen to go down this route, as I do hope to resume travel soon and like the range of benefits.” — Richard“I was offered either 20,000 Membership Rewards points, or a £180 statement credit to keep my Platinum Card. I took the points.” — Lindsay“I called Amex and was offered nothing, so I chose to downgrade to the Gold Rewards Preferred Card, which has no annual fee for the first year.” — Matthew“Amex offered me 15,000 Membership Rewards, so I accepted that and I’m keeping the Platinum card.” — Mark