Amex platinum- has anyone gotten a good retention offer? Or has anyone downgraded?

[Anonymous]

I've been wanting to cancel my Amex platinum card.
Called today and they offered a retention: $250 statement credit or 25k points if I spend $3k on the card in 3 months.
I didn't think it was a good offer so I didn't take it so now I'm doing some research.

I can also downgrade the card to Gold or Green, but the benefits in those cards are not great at all.
Green provides restaurant credit towards, get this- Dunkin Donuts. Huh??

I saw on reddit that the offers vary- some up to 50k points with 4k in spending. I think I would have taken that.
Has anyone here gotten such an offer? I've had Amex for over 30 years, with the last 5+ with platinum.
Without even knowing what other offers have been given before, I was surprised to get such a crappy offer.

[Anonymous]

You can call back and ask again - you'll get another person and a chance at a different offer.

[Anonymous]

Why are you downgrading?

[Anonymous]

Yeah you can try calling again, worth a shot.

But if you aren't using the benefits much, it's not a good card for you. Get the blue business plus, or the Everyday card. Both have no annual fee, and will keep your points active. Once you have the new card, cancel the platinum card a week later.

[Anonymous]

You are too poor to afford this card. Just cancel it.

[Anonymous]

I would take a $250 statement credit -- nicely offsets the higher fee.

FWIW, I'm not a power user but I find the Platinum benefits to be easy to use and get enough value out of it to more than cover the fee. If you use the airline credits, Uber cash, streaming benefits, Saks credits, etc., they add up.

I review my annual fee cards every year to make sure I am getting enough value to justify the fee. The Platinum card is never an issue. I also have Gold find it much harder to maximize the value. I'll probably end up canceling it this year. So if you downgrade, I'd take Green over Gold.

[Anonymous]

Why are you complicating your life? Are the card benefits better than using someone else's $10k at 5% and making 50% in 6 month? Serious question.
I cannot put the card benefits into numbers. I got exhausted just by reading it.

[Anonymous]

Retention offers range from 15-50 thousand points. Seems to depend upon your annual spend, how long you've been with Amex, etc. Try again, they also seem to change daily. And don't worry if the second call comes back with no offers. Just call the next day.