How do I downgrade my Amex Platinum to no fee?
How do I downgrade my Amex Platinum card before the annual fee
Yes, it's possible to downgrade your Amex Platinum card. It's recommended that you've kept the card open for at least 12 months. You can downgrade it to the Amex Gold card or Amex Green card, but there is currently no way to downgrade to a card with no annual fee.
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Does Amex Platinum have a downgrade option
The Amex No Preset Limit* personal family of cards include the Amex Platinum, Amex Gold, and Amex Green cards. Any card can be downgraded or upgraded to any personal card within this family (not to business cards though).
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How do I waive my Amex annual fee
AMEX In-app Fee Waiver:Go to your AMEX app.Select the chat icon (top right)Select Chat With Us.Type “fee waiver”You'll be connected with a Customer Service Officer to confirm the card you're requesting a waiver for.
When can I cancel Amex Platinum to avoid annual fee
If you cancel the card within 30 days after the statement containing your annual fee, you can get a full refund. Keep in mind that American Express no longer prorates annual fees if you wait until after 30 days to cancel.
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Does downgrading Amex affect credit score
Usually, to change credit cards, you'd need to cancel your old card and apply for a new one. Both of those can reduce your credit score. When you downgrade a credit card, however, your credit is not affected. Card issuers only let you downgrade to credit cards in the same product line.
Does American Express Platinum waive annual fee
Amex waives the annual fee on all of their cards, including the AMEX Platinum. Cards opened while on active duty are waived with Military Lending Act (MLA). Cards opened before active duty are waived with SCRA.
What should I downgrade Amex Platinum to
To What Card Can You Downgrade
| Credit Card | Downgrades To |
|---|---|
| The Platinum Card® from American Express | American Express® Gold Card American Express® Green Card |
| The American Express® Gold Card | American Express® Green Card |
Can you get Amex Platinum card fee waived
Amex waives the annual fee on all of their cards, including the AMEX Platinum. Cards opened while on active duty are waived with Military Lending Act (MLA). Cards opened before active duty are waived with SCRA.
Why is Amex Platinum annual fee so high
The main reason why Amex cards are so expensive is that many American Express credit cards offer generous rewards rates and high-end perks, which warrant steep annual fees. Amex cards are targeted toward people with good credit and high incomes who are likely to charge large amounts to their cards every month.
How do I get my annual fee waived
Contact your card issuer
The number can usually be found on the back of your card or on your monthly statement. Politely explain that you would like to have your annual fee waived. Explain your history as a reliable customer and emphasize that you would like to remain one. In the best case, they might simply say yes.
Is it better to cancel a card or downgrade
Consider downgrading your credit card to save on annual fees
If your credit card has a high annual fee, consider downgrading it to save money while keeping your credit line open. If you want to cancel a credit card because of a high annual fee, consider downgrading to a lower or no-annual-fee version instead.
Is it easy to downgrade Amex card
You can downgrade your Amex card by calling customer service at (800) 528-4800. Then, ask a representative about available downgrade options. However, there are a few things to consider before calling.
How to get Platinum Card without annual fee
Most people will need to pay the $695 annual fee on The Platinum Card® from American Express in full each year. However, there are a few ways to waive the Amex Platinum annual fee if you're eligible. One way to have the fee waived in full is to qualify under the Military Lending Act or Servicemembers' Civil Relief Act.
What is the average income for Amex Platinum
We recommend that your annual income be at least $50,000 or higher before applying for the Amex Platinum.
Is Amex Platinum really worth it
The Platinum Card from American Express carries a $695 annual fee, but for many travelers, the card's benefits will more than offset that charge. If you can maximize all of its annual statement credits, you're looking at nearly $1,600 in value.
Can I ask for annual fee to be waived
You could ask to speak to your credit card issuer's retention department and tell them that you want to cancel your card to avoid being charged the annual fee. If they're worried about losing your business, they may offer to waive the fee.
How do you politely ask for a fee waiver
Just ask the college! Call the college admissions office or university you plan on applying to and ask what their fee waiver policy is. Many schools have straightforward processes for fee waivers and might request you send in a letter from your guidance counselor or mentor explaining your financial situation.
Does downgrading a card hurt credit
Usually, to change credit cards, you'd need to cancel your old card and apply for a new one. Both of those can reduce your credit score. When you downgrade a credit card, however, your credit is not affected. Card issuers only let you downgrade to credit cards in the same product line.
Does downgrading credit card hurt score
The average age of your accounts remains the same: When you cancel a credit card, the average age of your accounts decreases, negatively affecting your credit score. But when you downgrade your credit card, you still hold on to the same account, which won't impact your credit score.
Does cancelling an Amex card hurt your credit
Open card accounts can help your credit score in two different ways: credit utilization and length of credit history. Closing a credit card account can negatively affect both of those components of your credit score.