How to Downgrade Amex Platinum Card | Easy Guide 2023

My Banking Information - How to Downgrade Amex Platinum Card

Do you know, How to Downgrade Amex Platinum Card? NO! This article will help you. Handling a Premium Credit card and paying its fees and other charges can be difficult for many people, and sometimes you make the decision to get a credit card without the proper knowledge of the financial burden it will put on you hence the only option you are left with is canceling the card or downgrading the card.

While Cancelling may not be a very good option because it will affect your credit score and you still might need the card for your day-to-day life, downgrading and getting rid of that hefty fees can be a good option for many people.

AMEX Platinum has a fee of $550 and in this article, we will show how you can reduce this fee by downgrading your card.

How to Downgrade Amex Platinum Card

Alternative to Downgrading AMEX Platinum

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Before we tell you how to downgrade your card, there are other options as well you might need to consider which can waive your annual fees or give you relief from it.

The first option is if you are from the military or your spouse is from the military then you can take advantage of the Service members’ Civil Relief Act (SCRA) and Military Lending Act (MLA) provided by AMEX in which they can waive your fees completely and give you other benefits as well.

The second option is getting retention, in which the bank will basically give you some rewards to relieve you from the fees, but there is no guarantee that you will get retention from the bank, but you can certainly ask them for it.

Some things you need to know before Downgrading

Although every bank allows downgrading your credit card to whatever level you wish there are some rules which apply when you try to downgrade the card and some of the AMEX rules in the case Of Platinum Card are mentioned below-:

Platinum Cards are known as Charge Cards

  1. You cannot Downgrade a Charge card to a Credit Card
  2. You can only change between Cards that earn the same kind of rewards.
  3. You can only change between the same product line i.e. You cannot downgrade the card from Delta to Marriot. And
  4. You cannot change between personal and Business Card

So, by the above rules, you can only Downgrade your Platinum Card to Either Gold or Green Card which is in the same Card family.

CardFees (Annual)
Platinum Card$550
Gold Card$250
Green Card$150

How to Downgrade the AMEX Platinum Card

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You can downgrade the AMEX Platinum Card by calling the bank on the number 18004928468 and explaining your situation and asking them to downgrade it.

Note: American Express credit cards’ annual fees are pro-rated monthly, for example, if you have The Platinum card with a $550 annual fee and you downgrade six months after paying an annual fee you’ll get a $275 refund. 

Further, if you are a Revolut user you must have a question in your mind that is verification essential for revolut users or you can use it without verification?

Final Words

I hope that we were able to solve your doubt and if you have any other issues, you can directly contact the bank and let them know about your situation.