CANCEL American Express Platinum Card in 2023!

Why I'm CANCELING American Express Platinum Card in 2023 | Should you CANCEL AMEX Platinum?

Is the American Express (Amex) Platinum card worth it in 2023 at a $695 annual fee? In short, I don't think this card provides enough tangible value to justify the $700 annual fee.

For several reasons, someone may choose to cancel their American Express Platinum card. Here are a few of the most common reasons:

High annual fee: The American Express Platinum card has a high annual fee of $695, which may not be worth it for some cardholders. If you are not using the card enough to justify the fee, it may be worth canceling. especially if we are heading into recessions in 2023, you may travel less, so might be worth cutting some costs.

Not using the benefits: The American Express Platinum card comes with a number of benefits, including airport lounge access and travel credits. If you are not using these benefits, you may not be getting your money's worth and may want to consider canceling the card.

Better alternative available: There may be other credit cards available that offer better rewards or benefits for your spending patterns. If you find a card that better fits your needs, you may want to cancel your American Express Platinum card.

No longer traveling: If you have stopped traveling and no longer need the travel benefits offered by the American Express Platinum card, it may make sense to cancel the card.

No longer using the card: If you are no longer using your American Express Platinum card for everyday spending, it may be a good idea to cancel the card to avoid paying the annual fee and to simplify your finances.

It's important to keep in mind that canceling a credit card can affect your credit score, so it's important to weigh the pros and cons before making a decision. Additionally, if you have a balance on the card, you will need to pay that off before canceling.

Ultimately, the decision to cancel your American Express Platinum card should be based on your personal circumstances and financial goals.

Top 3 Cards in my wallet:

Venture X card - https://capital.one/3WF3lVI
Chase Freedom - https://www.referyourchasecard.com/18...
Chase Sapphire Preferred - https://www.referyourchasecard.com/6f...


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