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Over the last few months, I’ve extensively written about how recent changes made my Amex have completely altered my travel credit card strategy. On one hand we’ve seen Amex increase fees, only to ‘offset’ them by ‘credits’ which are split on a monthly or quarterly basis. An annual fee just posted to yet another Amex credit card and I was thinking once again whether I should pull the plug.
Amex Credit Card Renewal: Hilton Business Card
When I had picked up the card 3 years back, I’d primarily picked it up for putting business expenses. Also, it helped that one got complimentary Gold status. Since I already have the Schwab Platinum card, I can still get Gold status with Hilton. Also, the Hilton Aspire card, already gives complimentary Diamond status.
Therefore, the Hilton Business card wasn’t necessarily helping me with elite status.
What changed?
Firstly, Amex doubled the annual fee. When I picked up the card, the annual fee was $95. Now, the fee is $195. American Express added a bunch of new benefits like National car rental elite status, but that was of no use to me as I barely rent cars. Also, Amex added $50 credits per quarter which you can use at Hilton properties. Again, since my Hilton stays don’t necessarily happen each quarter, I realized that this was a benefit that I wasn’t necessarily going to use very often.
Moreover, Amex also removed another benefit that I liked on the card. You could earn a free night certificate after spending $15,000 in a calendar year, similar to the benefit offered on the Hilton Surpass Card. After Amex removed the benefit, I found it difficult to justify the decision to renew the card with an annual fee increase of 100%. I called Amex to cancel my card.
Retention Offer
I called Amex to cancel my card and outlined some of the reasons mentioned above. The rep started by thanking me for my business and then started detailing some of the new benefits of the card.
She didn’t give any retention offer and simply asked if I was sure to cancel the card. I said yes. She read a disclosure and I ended up canceling the card.
The Pundit’s Mantra
Yet another annual fee increase. Yet another cancellation. This seems to be a trend with me and Amex over the last year. However, I still continue to cary the Schwab Platinum card and the Marriott Bonvoy Brilliant card, as I’m able to use most of the benefits and credits on offer.
How has your travel credit card strategy changed with Amex increasing annual fees on many of their credit cards over the last few years? Tell us in the comments section.
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