[Update: See American Express Business Platinum Refunding $200 From Annual Fee After Card Renewal]
Some users on reddit have reported that during retention calls they have been told to consider holding off cancelling cards as American Express plans to offer annual fee relief across all cards due to the uncertainty of travel. In American Express’ Q1 earnings call American Express talked about offering several new benefits, services and rewards and completing card refreshes in May so it’s possible this is part of that.
In terms of timing I could see American Express either making an announcement on Friday (May 1st) or on Monday (May 4th), my gut feeling would be that we’re more likely to see something official on the Monday. In either case it might be worth waiting a few days before cancelling a card. I’ve put some feelers out with sources at American Express to see if they can provide any additional information.
