Some Amex cardholders are receiving credits to offset annual fees — are you included?
This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. Terms apply to the offers listed on this page. For an explanation of our Advertising Policy, visit this page.
Editor’s note: This post has been updated with new cards offering a renewal credit.
American Express, Chase and Citi have all announced benefit updates with additional perks and bonuses on dozens of card products. These announcements last week came in response to changing spending behaviors brought on by the global pandemic.
For Amex, the updates are particularly appropriate for both The Platinum Card® from American Express as well as The Business Platinum Card® from American Express, two travel-focused cards that are not the most relevant when few people are actually on the move.
New to The Points Guy? Want to learn more about credit card points and miles? Sign up for our daily newsletter.
The “Appreciation Credit” offers
In addition to individual retention offers for cardholders who call on the phone, Amex is emailing select cardholders to offer them renewal bonuses. These “appreciation credits” (what Amex is calling them) are statement credits following account renewal later this year, so they work slightly differently than normal retention offers.
Cards that we’ve seen receive offers
- The Business Platinum Card® from American Express: (up to $200 credit)
- Delta SkyMiles® Platinum Business American Express Card (up to $75 credit)
- Delta SkyMiles® Reserve Business American Express Card (up to $125 credit)
- The Hilton Honors American Express Business Card (up to $50 credit)
- Marriott Bonvoy Business™ American Express® Card (up to $50 credit)
- Delta SkyMiles® Platinum American Express Card (up to $50 credit)
Although we have yet to hear of offers on other cards, there may be more in the works. An Amex spokesperson told TPG that “over the coming weeks and months, select Card Members will get access to additional offers upon their Card renewal to further support them and show our appreciation for their ongoing membership.”
Not everyone wins
Unfortunately, for those of us that just renewed their Amex cards earlier this year (myself included), it seems we’re out of luck. Travel has been curtailed for months now, so it would have been nice to see these credits offered to anyone who renewed an Amex card this year.
Amex is dangling carrots in front of select cardholders to entice them to renew their cards. Will this be enough for cardmembers to keep their cards? Time will tell. It will be interesting to see if you’ll be able to double-dip, combining both a targeted retention offer and these emailed renewal offers. At the very least, if you have a renewal date later this year, be on the lookout for an email from Amex.
Credit card news new perks and benefits recap:
- Amex announces limited-time perks for select Amex Membership Rewards, Delta, Marriott and Hilton cards
- Earn up to 5x on groceries across select Chase-issued travel cards
- Citi announces changes to help cardholders maximize benefits during coronavirus
- Marriott entices cardholders with 6x bonus on groceries
For rates and fees of the Amex Business Platinum card, please click here.
Featured photo by Isabelle Raphael/The Points Guy.
Welcome to The Points Guy!
WELCOME OFFER: 60,000 Points
TPG'S BONUS VALUATION*: $1,200
CARD HIGHLIGHTS: 2X points on all travel and dining, points transferrable to over a dozen travel partners
*Bonus value is an estimated value calculated by TPG and not the card issuer. View our latest valuations here.
- Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
- 2X points on travel and dining at restaurants worldwide, eligible delivery services, takeout and dining out & 1 point per dollar spent on all other purchases.
- Get 25% more value when you redeem for travel through Chase Ultimate Rewards®. For example, 60,000 points are worth $750 toward travel.
- Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash's subscription service. Activate by 12/31/21.
- Earn 2x total points on up to $1,000 in grocery store purchases per month from November 1, 2020 to April 30, 2021. Includes eligible pick-up and delivery services.