How to keep your Membership Reward points when you cancel Amex Gold or Amex Platinum

Looking to cancel Amex Gold or Amex Platinum card? You may be wondering if there is a way you can keep your hard-earned Membership Reward points without continuing to pay the annual fee of the Amex Gold or Amex Platinum card. Fortunately, there is way…

What happens when I cancel Amex Gold or Amex Platinum card?

You will receive a pro-rata refund of your annual membership fee BUT you will lose any unused Membership Rewards points. Whilst you can redeem them into Avios, Hilton Honors or Marriott Bonvoy points to name a few or even redeem them off your cash balance, this isn’t ideal because the great thing about Membership Rewards is their flexibility!

You should only transfer them to whichever loyalty programme you want when you are ready to use them. This protects you from any sudden devaluations from the loyalty programmes!

(You can read more about cancelling your Amex card here – https://pointsuncovered.com/american-express/how-do-i-cancel-my-amex-card-and-what-happens-with-the-points-perks-membership-fee/)

So how can I keep my Membership Reward points when I cancel?

This is my experience using the points system and is not a recommendation of any financial product. There are other credit cards which can earn you travel points including IHG credit card, Tesco Credit Cards (by exchanging Clubcard points for avios, hotel stays and more) & Virgin Atlantic credit card. If you use one of my referral links to an American Express card upon you being accepted I will receive points, this varies between 9,000 – 18,000 depending on the card I refer you from.

American Express has a Membership Reward point earning card with no annual fee called The American Express^® Rewards Credit Card. Whilst not particularly exciting in terms of benefits it does allow you to continue earning 1 Membership Reward point per £1 spent. You can read about it here – https://www.americanexpress.com/uk/credit-cards/rewards-credit-card/

If you apply for this card (and are accepted) you can cancel Amex Gold & Amex Platinum cards safe in the knowledge that your Membership Reward points are safe!

Remember by doing this you don’t reset the 24 month counter to get a sign-up bonus on another Membership Reward card. To do this you need to completely close all Membership Reward earning cards you have. You could, however, receive a bonus on the BA Premium Card if you haven’t held an Avios earning card in the last 24 months. Read full details on sign-up bonus eligibility for Amex cards here – https://pointsuncovered.com/american-express/amex-changes-sign-up-bonus-eligibility/

You may, however, find keeping your Membership Reward points more valuable than waiting 24 months for another sign-up bonus. Have you been using The American Express^® Rewards Credit Card to preserve your Membership Reward points balance?