While late to the party i thought that i would share with you all what my experience has been with American Express and the upcoming changes in a hope to assist anyone else. I appreciate there has been a lot of noise around this of late.
My situation - been a platinum charge card holder for approx 8 years.
Have approx 500k amex membership reward points.
I have called amex for an explination and an understanding of the upcoming changes to which they confirmed the membership rewards points will be worth .5 their existing value (rather than 1:1, it will be 2:1 for airline transfers).
I have been advised “that i am one of the few who are selected to have their points credited by the 15th of June”. That means, that while i have 500k points now, i will have the equal amount of points credited to my account that are in there on the 14th of April thus resulting in once i transfer the “1m” points, i will end up with an equiv 1:1 transfer to airline points.
I have been told that my annual renewal and membership is happening in June, and IF i want to cancel my card - i will be still credited the points as long as i dont execute on any of the perks in June (like travel vouchers etc) and still cancel by the end of June.
I encourage you all to call amex to understand if you are in this pool of “lucky people” i do not spend anything specifically fantastic on the card and assume that if you call, you get added to the “lucky people pool”.
All the best guys.